Blood Culture Tests Global Market Report 2022: Ukraine-Russia War Impact

December 20, 2022

New York, Dec. 20, 2022 (GLOBE NEWSWIRE) -- announces the release of the report "Blood Culture Tests Global Market Report 2022: Ukraine-Russia War Impact" - Hoffmann-La Roche AG, HiMedia Laboratories Pvt Ltd, Axiom Laboratories , Abbott Laboratories, Ibis Biosciences Inc and Magnolia Medical Technologies.The global blood culture test market is expected to grow from $4.78 billion in 2021 to $5.48 billion in 2022 at a compound annual growth rate (CAGR) of 14.67%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, effecting many markets across the globe. The blood culture test market is expected to grow to $8.03 billion in 2026 at a compound annual growth rate (CAGR) of 10.02%.The blood culture tests includes revenues earned by entities by micro sampling technology and blood chemistry analyzer.The market value includes the value of related goods sold by the service provider or included within the service offering.Only goods and services traded between entities or sold to end consumers are included.The blood culture tests refer to blood test used to detect and identify disease-causing microorganisms in the bloodstream. A blood culture test checks for infections caused by microorganisms like bacteria, yeast, and other foreign invaders in a blood sample.North America was the largest region in the blood culture tests market in 2021. The regions covered in the blood culture tests market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.The market value is defined as the revenues that enterprises gain from goods and/or services sold within the specified market and geography through sales, grants, or donations in terms of currency (in USD ($) unless otherwise specified).The revenues for a specified geography are consumption values – that is, they are revenues generated by organizations in the specified geography within the specified market, irrespective of where they are produced. It does not include revenues from resales either further along the supply chain or as part of other products.The main method of blood culture tests are conventional/manual methods and automated methods.The conventional or manual method of blood culture test is used for detection of invaders like bacteria, yeast, and other microorganisms from a blood specimen.Manual testing is performed by testers who use and test the result in a manual maaner. The blood culture product are consumables, instruments and software and services that uses technology such as culture-based technology, molecular technologies, microarrays, PCR (polymerase chain reaction); PNA-FISH (peptide nucleic acid – fluroscent in situ hybridization) and proteomics technology that are applied in bacteremia, fungemia and mycobacterial detection, used by hospital laboratories, reference laboratories, academic research laboratories, and other laboratories.The increasing incidence of infectious diseases is expected to propel the growth of the blood culture test market.Infectious diseases are illnesses caused by pathogens, including viruses, bacteria, fungi, and parasites.These diseases have dangerous microorganisms or pathogens that enter an individual’s body from the outside or from an infected person.These infectious diseases, such as COVID-19, Tuberculosis, flu, measles, HIV, strep throat, and so on, have the potential to cause momentary pain, significant tissue damage, or even death.The World Health Organization ranks infectious diseases as the second biggest cause of death globally.These increase in the incidence of infectious diseases has led to the increase the demand for blood culture test to assist in determining whether a patient has bacteremia/septicemia, a potentially fatal condition or not.For instance, In 2022, World Health Organization, stated that approximately 6.4 million people died from Covid-19. Furthermore, due to tuberculosis (TB), a total of 1.5 million people died in 2020 worldwide. Therefore, the increasing incidence of infectious diseases is driving the growth of the blood culture test market.The technological innovation is a key trend gaining popularity in the blood culture tests market.Innovation and globalization are creating new prospects for the pharmaceutical, biologics, nutraceuticals, and medical device industries.The desire to bring new products to market safely, quickly, and affordably necessitates producers and manufacturers to build world-class blood culture testing to demonstrate compliance with ever-expanding requirements.These technological innovations reduce costs through accurate and independent safety and performance assurance.For instance, In May 2022, Labcorp, a US-based testing laboratories company, launched Labcorp OnDemandTM at-home collection kit that measures hemoglobin A1c (HbA1c) from a small blood sample.This OnDemand Diabetes test kit employs dried blood technology to provide an overview of the body’s average blood sugar levels over time.Through this kit, users can monitor their health status regularly from the comfort of their homes with a prick of the finger and a few drops of blood.In October 2021, Dr. Lal Path Labs, an India-based diagnostic and related healthcare tests provider, acquired Suburban Diagnostics for an 1150 cr ($14.39 million). This acquisition gives LPL access to 44 laboratories and diagnostics centers (one of which is CAP-accredited and five are NABL accredited) and 150+ collection centers. Suburban Diagnostics is an India-based diagnostics center and pathology lab.The countries covered in the blood culture tests market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.The blood culture tests market research report is one of a series of new reports that provides blood culture tests market statistics, including blood culture tests industry global market size, regional shares, competitors with a blood culture tests market share, detailed blood culture tests market segments, market trends and opportunities, and any further data you may need to thrive in the blood culture tests industry. This blood culture tests market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.Read the full report: ReportlinkerReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.__________________________

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