Blood Testing Market - Global Analysis and Industry Forecast, 2014 – 2020

Blood testing is a laboratory based analysis that is performed in order to determine general state of health, presence of a bacteria or virus and to assess disease progression. It is usually performed by taking a small sample of blood from the patient’s body with the help of a needle or finger prick. Cancer, cardiovascular diseases, acquired immunodeficiency syndrome (AIDS)/HIV, anemia and diabetes are some major diseases for which blood testing is recommended so as to confirm the diseased condition. Blood testing is also performed in order to assess how well body vital organs such as liver, kidney and thyroid are functioning. Blood testing is very common and is often recommended by physicians for analyzing the normal body functioning. Some major blood tests that are widely used for diagnosing various diseases include full blood count (FBC), erythrocyte sedimentation rate (ESR), C-reactive protein (CRP) test, coagulation test, electrolyte test, thyroid function test, enzyme-linked immunosorbent assay (ELISA) test, karotyping, blood cholesterol test and liver function test.

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The market for blood testing continued to grow under the influence of aging population, rise in incidences of various diseases such as hepatitis, human immunodeficiency virus (HIV) infection, cancer, thyroids, genetic disorders and bacterial and viral allergic disorders, and expanding application of blood testing in other diagnostic areas. The market for blood testing is also growing owing to burgeoning demand for point of care testing (POCT). POCT majorly includes blood glucose testing, electrolyte testing and coagulation testing. POCT offers rapid diagnosis by performing test at or near patient’s location and does not cause patients to wait for a longer time in order to get test result. Technical advances leading to the development of innovative testing tools and equipment such as automated...