Blood Culture Tests Market Projections to 2021 Show 8% CAGR led by North America
PUNE, India, July 18, 2016 /PRNewswire/ --
The global blood culture tests market is rising at a decent rate (8% CAGR) as per latest research report that says North America is expected to account for the largest share and APAC projected to grow at the highest CAGR due to growing number of sepsis cases and high cost of treatment and increase in prevalence of infectious diseases.
Complete report on global blood culture tests market across 249 pages, profiling 10 companies and supported with 300 tables and 50 figures is now available at http://www.lifescienceindustryresearch.com/blood-culture-test-market-by-method-manual-automated-product-consumables-instrument-application-aerobic-anaerobic-yeast-fungi-end-user-hospital-reference-laboratory-clinical-laborato.html .
The global blood culture tests market is projected to reach USD 4,768.9 million by 2021 from USD 3,252.6 million in 2016, at a CAGR of 8.0%. Major factors contributing to the growth of this market include growing number of sepsis cases and high cost of treatment, increase in prevalence of infectious diseases, rapidly rising aging population, increase in product approvals and launches, increase in demand for rapid diagnostic techniques, and high incidence of bloodstream infections. However, factors such as high cost of automated instruments and lack of technically skilled professionals are restraining the growth of this market.
North America commanded the largest share of the global blood culture tests market in 2015. Factors such as increase in number of sepsis cases, rising geriatric population, growing demand for rapid diagnostic techniques, significant presence of blood culture tests providers and growing product approvals and launches in this region are propelling the growth of the blood culture tests market in North America. In addition, the growth of the blood culture tests market in North America is driven by technological advancements and increase in demand for rapid diagnostic techniques.
Various market players are focusing on new product launches to expand their product portfolios and cater to their wide customer base. For instance, in September 2014, the company introduced a new technology, Polymerase Chain Reaction coupled with Electro spray Ionization Mass Spectroscopy (PCR/ESI-MS), at the 54th Inter science Conference on Antimicrobial Agents and Chemotherapy in the U.S. This technology is based on a study conducted by the Rapid Diagnostics of Infection on the Critically Ill (RADICAL).
The study suggests that Abbott's PCR/ESI-MS can detect bacteria, viruses, or fungi in a short span of time when the blood culture tests are negative. Such technological advancements will significantly contribute towards the adoption of rapid diagnostic techniques among hospital laboratories and reference laboratories, which are major end users of these instruments.
Key players in the blood culture tests market include Becton, Dickinson and Company (U.S.), bioMérieux SA (France), Thermo Fisher Scientific, Inc. (U.S.), Cepheid, Inc. (U.S.), Nanosphere, Inc. (U.S.), Roche Diagnostics (Switzerland), Beckman Coulter (U.S.), Bruker Corporation (U.S.), IRIDICA (U.S.), and T2 Biosystems (U.S.). Order a copy of Blood Culture Tests Market by Method (Automated, Manual), Product (Consumables, Instrument), Technology (PCR, Microarray, Proteomic), Application (Bacteremia, Fungemia) & End User (Hospital Laboratories, Reference Laboratories) - Global Forecast to 2021 research report at http://www.lifescienceindustryresearch.com/purchase?rname=41239 .
Apart from the comprehensive regional analysis, product analysis, and market sizing, the report also provides a competitive landscape that covers growth strategies adopted by industry players over the last three years. The company profiles comprise basic views on key players and their product portfolios, developments, and strategies adopted. The above-mentioned market research data, current market sizes, and forecast of future trends will help key players and new entrants make informed decisions regarding product offerings, geographical focus, and change in strategic approach, R&D investments, and levels of output in order to remain successful.
On a related note, another research on Cell Culture Market Forecast to 2020 says, the market is projected to reach USD 18,630.7 million by 2020 from USD 11,310.9 million in 2015, at a CAGR of 10.5%. The cell culture market in Asia is expected to witness the highest growth rate from 2015-2020. This market is categorized on the basis of products, applications, end users, and regions. Companies like Thermo Fisher Scientific, Inc., Merck KGaA, GE Healthcare, Lonza Group AG, Becton, Dickinson and Company, Corning, Inc., Eppendorf AG, Hi-Media Laboratories, Sartorius AG and Promocell GmbH have been profiled in this 264 pages research report available at http://www.lifescienceindustryresearch.com/cell-culture-market-by-equipment-bioreactor-incubator-centrifuge-by-reagent-media-sera-growth-factors-serum-free-media-by-application-cancer-research-gene-therapy-drug-development-vacci.html .
Explore more reports on the diagnostics market at http://www.lifescienceindustryresearch.com/category/diagnostics .
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