Blood Testing Market Size, Share, and Trends 2024 to 2033

Blood Testing Market Size and Companies

The global blood testing market size was USD 98.52 billion in 2023, accounted for USD 105.65 billion in 2024 and is expected to reach around USD 198.19 billion by 2033, expanding at a CAGR of 7.24% from 2024 to 2033. The rising number of diagnostic centers worldwide is driving the growth of the blood testing market.

Blood Testing Market Key Takeaways

• The North America blood testing market size is exhibited at USD 43.35 billion in 2023 and is expected to attain around USD 88.19 billion by 2033, poised to grow at a CAGR of 7.36% between 2024 and 2033.
• North America led the market with the largest revenue share of 44% in 2023.
• Asia-Pacific is observed to experience the fastest rate of growth during the forecast period.
• By test type, the glucose segment has contributed more than 18% of revenue share in 2023.

U.S. Blood Testing Market Size and Growth 2024 to 2033

The U.S. blood testing market size surpassed USD 30.34 billion in 2023 and is projected to attain around USD 62.18 billion by 2033, poised to grow at a CAGR of 7.43% from 2024 to 2033.

North America holds the largest blood testing market share in 2023 and is expected to maintain its dominance throughout the forecast period. The growth of this region is mainly driven by the rising technological developments in the healthcare industry. Also, the increasing prevalence of chronic diseases such as Cancer, Cardiovascular diseases, and others has increased the demand for blood testing for proper diagnosis and getting cured, thereby driving the market growth. According to a study by Cancer.net, around 14% of lung cancer patients suffer from Small Cell Lung Cancer (SCLC) in the U.S.. It is also estimated that approximately 238,440 adults will be suffering from lung cancer in 2023 in the U.S.A.

Moreover, growing government investments in the development of healthcare sectors in countries such as the U.S.A., Canada, Mexico, and some others have also boosted the growth of the blood testing market. For instance, in August 2022, the U.S. Department of Health and Human Services (HHS) announced an investment of 60 million USD to increase the healthcare workforce along with providing good quality healthcare in rural areas of the U.S.A.. Additionally, the increased prevalence of rare diseases in North America has increased the demand for blood testing, thereby driving the market growth. According to the National Institutes of Health (NIH), around 7000 people in the U.S. suffer from rare diseases. It also stated that one in every ten people across the U.S. suffered from rare diseases.  Furthermore, the presence of healthcare companies such as Abbott, Biorad Laboratories, Thermo Fisher Scientific, Danaher Corporation, and others boosts the market growth.

• For instance, in May 2024, Danaher collaborated with Johns Hopkins University. This collaboration aimed at developing a blood test for identifying mild Traumatic Brain Injury (TBI) and other neurological disorders.

Asia Pacific is estimated to be the fastest-growing region during the forecast period. The growth of this region is mainly driven by the scientific advancements in the healthcare sector in countries such as India, Israel, China, Japan, and some others. Also, the rising interest from the public and private sectors for development & research related to blood testing methodologies has also boosted the market growth. Moreover, rising government initiatives in countries such as India and Japan to develop the medical sectors have fostered market growth.

• For instance, the Ministry of Health and Family Welfare received an amount of Rs 89,155 crore from the Indian government for matters related to health research and health & family welfare in the period of 2023-2024. Additionally, the presence of a well-established healthcare industry with the presence of prominent market players such as Avecon Healthcare, Beacon Diagnostics Pvt. Ltd., Konsung Medical Group, iGene Laboratory, Lucence, HymonBio, and some others has boosted the growth of the blood testing market.
• For instance, in July 2022, iGene Laboratory launched the RUO Monkeypox PCR test. This is a new PCR-based blood test aimed at diagnosing the outbreak of monkeypox virus disease in the South East Asian region.

Market Overview

The blood testing market is a very important industry in the healthcare domain. This industry has gained prominence due to the prevalence of various diseases worldwide. A blood test is a laboratory diagnosis done by extracting a blood sample from a person through different parts of the body. This testing methodology is the first step to diagnosing any mild or serious disease. There are several types of blood tests, including glucose testing, A1C testing, direct LDL testing, lipid panel testing, prostate-specific antigen testing, and others.

• In February 2024, F. Hoffmann-La Roche AG launched a new blood coagulation test. This test mainly includes oral Factor Xa inhibitors such as apixaban, rivaroxaban, and edoxaban, and it supports doctors in treating patients suffering stroke, peripheral arterial disease (PAD), coronary artery disease (CAD), and venous thromboembolism (VTE).

Blood Testing Market Growth Factors

• The rising development in the healthcare industry has boosted the market growth.
• The increasing government initiatives to strengthen the medical sector have driven the growth of the blood testing market.
• The technological advancements in medical instrument industries are also expected to drive market growth.
• The rising investments from public and private sector entities for developing the blood testing industry also boost market growth.
• The increasing prevalence of chronic diseases across the world is boosting the growth of the market.
• The rising developments in medical tourism have increased the demand for blood testing, thereby driving market growth.
• The growing prevalence of rare diseases among people across the world boosts the growth of the market.
• The rising number of clinical trials and approval of several blood tests drive the market growth.
• The rising number of public and private hospitals around the globe also propels the growth of the blood testing market.

Blood Testing Market Scope

Blood Testing Market Dynamics

Driver

Rising cases of Alzheimer’s disease across the world

The prevalence of Alzheimer’s disease has increased rapidly due to several lifestyle factors, such as smoking, overdrinking, unhealthy diets, and others. This disease is mainly associated with memory loss along with other mental dysfunctionalities. According to the Alzheimer’s Association, around 7 million people in America suffer from Alzheimer’s disease. Thus, with the rising cases of Alzheimer’s disease, the demand for blood testing also increases, thereby driving the growth of the blood testing market. Moreover, several healthcare companies such as Abbott, Biorad, Quanterix, and others have started developing advanced blood testing methods for faster diagnosis of Alzheimer’s disease, which, in turn, boosts the market growth.

• For instance, in July 2023, Quanterix Corporation launched a new biomarker blood test for diagnosing Alzheimer’s disease. This test, named ‘LucentAD,’ helps diagnose patients experiencing cognitive symptoms of Alzheimer’s disease.

Restraint

Several risks are associated with testing and wrong results

There are several problems associated with blood testing. Firstly, there are various side effects such as fever, headache, digestion issues, fainting, allergic reactions, appetite loss, and some others. Secondly, the problems associated with the storage and transportation of blood samples can result in false reports. Thus, several side effects and wrong results related to blood testing are expected to restrain the market growth to some extent.

Opportunity

Integration of modern technologies for blood testing

The blood testing industry has grown drastically with rapid developments in the healthcare sector. Nowadays, doctors prescribe different types of blood testing for the detection of very mild and serious diseases. Also, the advancement in modern technologies such as AI, Blockchain, and Machine Learning (ML) has allowed healthcare companies to integrate these technologies into their system to get accurate results of blood tests quickly.

• For instance, in February 2023, Cardio Diagnostics launched ‘PrecisionCHD.’ PrecisionCHD is an AI-based blood test that can be done to diagnose coronary heart disease early. Thus, the integration of modern technologies in blood testing systems is expected to create ample growth opportunities for the market players in the future.

Test Type Insights

The glucose testing segment held the largest share in 2023. The growth of this segment is driven by the rising cases of diabetes patients across the world. Also, the rise in the number of diagnostics centers, along with scientific developments associated with glucose testing, has driven the growth of the blood testing market. Moreover, healthcare companies are continuously engaged in research and development to develop new blood testing systems to get accurate glucose testing results, thereby driving market growth. Additionally, the ongoing trend of over-the-counter continuous glucose monitoring systems (CGM) among people across the world is driving the growth of the blood testing market. Furthermore, the growing trend of AI-based glucose monitoring systems across the world has boosted market growth.

• For instance, in March 2024, Dexcom announced that the U.S. Food and Drug Administration (FDA) approved a glucose biosensor named ‘Stelo’. This is the first glucose monitoring biosensor that does not require a prescription and can be bought directly from any chemist shop in the U.S.A.
• For instance, in May 2024, Beurer India launched a blood glucose monitoring device. This device was launched at an affordable price of RS 1200 and will be available in India starting September 2024.
• For instance, in March 2024, Roche launched an AI-powered glucose monitoring system. This system integrates AI technology to diagnose patients with high and low blood sugar levels.

The A1C segment is expected to show significant growth during the forecast period. The growth of this segment can be attributed to the growing number of patients suffering from anemia across the world. Also, the growing number of surgeries across the world has increased the demand for A1C testing, as surgeries are associated with blood loss, thereby driving the growth of the blood testing market. Moreover, healthcare companies are developing and launching several portable A1C testing devices across the world, which, in turn, drive the growth of the blood testing market.

• For instance, in April 2023, Orange Biomed launched a new A1C testing system. This is a portable A1C testing system that provides accurate test results in a short period of time.

Blood Testing Market Companies

• Abbott
• F. Hoffmann-La Roche AG
• Bio-Rad Laboratories, Inc.
• BioMerieux SA
• Quest Diagnostics
• Biomerica, Inc.
• Becton, Dickinson and Company
• Siemens Healthineers
• Danaher Corporation
• Trinity Biotech Plc
• Sinocare Inc
• Becton Dickson & Company

Recent Developments

• In April 2024, Quest Diagnostics launched a p-tau217 blood biomarker test. This test is done to diagnose patients suffering from Alzheimer's Disease.
• In March 2024, Labcorp launched the pTau217 blood biomarker test. This test will help to identify the prevalence of Alzheimer's disease among the patients.
• In December 2023, Savara launched a new blood test for treating patients suffering from lung disorders. The blood test is named ‘aPAP ClearPath’ that can help doctors to treat patients suffering from rare lung diseases called ‘autoimmune pulmonary alveolar proteinosis (aPAP).
• In August 2023, C2N Diagnostics launched the PrecivityAD2 blood test. This blood test is done to assess patients suffering from mild Alzheimer’s disease.
• In July 2023, Quanterix Corporation launched a new biomarker blood test for diagnosing Alzheimer’s disease. This test is named ‘LucentAD’, and it helps in diagnosing patients experiencing cognitive symptoms of Alzheimer’s disease.
• In March 2023, Abbott announced that the U.S. Food and Drug Administration (FDA) had approved laboratory traumatic brain injury (TBI) blood tests in the U.S.. This new blood test method will help to reduce the waiting times in hospitals and replace CT scans for examining mild traumatic brain injuries.

Segments Covered in the Report

By Test Type

• Glucose Testing
• A1C Testing
• Direct LDL Testing
• Lipid Panel Testing
• Prostate-specific Antigen Testing
• COVID-19 Testing
• BUN Testing
• Vitamin D Testing
• Thyroid-stimulating Hormone (TSH)
• Serum Nicotine/Cotinine
• High-sensitivity CRP Testing
• Testosterone Testing
• ALT Testing
• Cortisol Testing
• Creatinine Testing
• AST Testing
• Other Blood Tests

By Geography

• North America
• Asia Pacific
• Europe
• Latin America
• Middle East & Africa