The blood testing market size in APAC is expected to grow from USD 10.34 billion in 2022 to USD 12.19 billion by 2027, growing at a CAGR of 3.35% during the forecast period.
The blood testing market involves blood sampling and collection activities. Blood testing helps doctors to identify and detect any underlying issues in the body through blood tests. HIV/AIDS, Diabetes, Cancers, and any other Heart issues can be detected through blood tests.
Key factors contributing to the growth of this market contain the growing number of chronic cases and the high price of treatment, rise in the occurrence of infectious diseases, speedily increasing aging population, boost in product approvals and launches, increase in demand for quick diagnostic techniques, and high commonness of bloodstream infections.
The Asia Pacific has been reported as the fastest-growing market for Blood testing. The dense population in this region drives market growth. In addition, the demand for frequent check-ups for increasing diseases such as Diabetes, Cancers, Liver Diseases, and Cardiovascular disorders increases market size. The government schemes in this region on creating awareness of medications, blood donation drives, and personalizing medications depending on body type are a boom to market.
During the forthcoming years, Asia-Pacific has been recognized as the fastest-growing region. Blood is a vital component of the body and is used routinely in a wide range of hospital procedures. Every year, millions of blood units are donated globally and used in necessary transplantation, cancer therapies, accident victims, and patients undergoing other surgeries.
Still, factors such as a lack of technically skilled professionals are restraining this market's growth.
This research report on the Asia Pacific Blood Testing Market has been segmented and sub-segmented into the following categories:
Based on the region, China and India are the fastest-growing markets in the Asia-Pacific region. China and Japan are highly populated regions, and the spread of infectious diseases is on the rise yearly. The corresponding government makes regulations and strict guidelines to regulate and prevent infections. 47% of the Asia Pacific population is reported to donate blood in recent years. As the hike is seen in blood donation and drives, blood collection, and sampling are also observed. India holds the largest share of blood banks, helping hospitals and clinics provide blood in emergency cases. Growing major vital players across the Asia Pacific region also increases the market level.
KEY MARKET PLAYERS:
Companies dominating the Asia Pacific blood testing market profiled in the report are Bio-Rad Laboratories Inc. (U.S.), Siemens Healthcare (Germany), Grifols (Spain), Nanosphere Inc. (U.S.), BioMérieux (France), Dickinson and Company (U.S.), Ortho Clinical Diagnostics Inc. (U.S.), Roche Diagnostics (Switzerland), Alere Inc. (U.S.), Bruker Corporation (U.S.), Abbott Laboratories (U.S.), Thermo Fisher Scientific Inc. (U.S.) and Beckman Coulter (U.S.).
The APAC blood testing market is expected to register a CAGR of 3.35% from 2022 to 2027.
Roche Diagnostics, Abbott Laboratories, Bio-Rad Laboratories, Beckman Coulter, and Sysmex Corporation are some of the promising players in the APAC blood testing market.
The rising prevalence of chronic diseases such as diabetes, rising healthcare expenditure, and an aging population. Additionally, advancements in technology and the development of new and more effective blood tests are promoting the blood testing market growth in the Asia-pacific region.
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