Blood Testing Devices Market Revenue Key Players Supply-Demand Feasibility and Forecast 2026

Posted on 2019-04-24 by Mark Hub in Healthcare // 0 Comments

The explosive growth of diseases especially diabetes has made blood testing an indispensable procedure which was hitherto unknown to many homes. According to World Health Organization (WHO) estimates, India alone has a whopping 69.2 million diabetics in 2016, with Type 2 diabetes accounting for about 90% of the patients. India alone accounts for 49 percent of the world’s diabetes burden, resulting it to be known as the diabetic capital of the world. Thus, there seems to be no dearth to the Blood Testing Devices Market.

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Blood testing devices are used to analyze and monitor health indicators including total cholesterol, high density low cholesterol, and blood glucose and ketone levels in various healthcare settings. Diabetes and cholesterol majorly affects worldwide. Usually patient or nurse pricking finger for the test. Blood testing devices is easy to handle, easy to carry and easy to use and also help to keep glucose and cholesterol level under control. With the help of these devices can monitor and regulate glucose, cholesterol and ketone level regularly.

Blood testing device also called self-monitoring devices used in monitoring of various disease using one drop of blood at any condition and anywhere and can also treat quickly. Blood testing is most common in the world and several different blood test such as cholesterol , gases, electrolyte, ESR, FBC (full blood count), coagulation test, WBC and platelets counts performs in seconds with only one drop. There are different type of testing devices available for different professional and personal care.

The Blood testing devices is more convenient and reliable for patients and doctors also. In the market there are different wireless, mobile app and smart cloud based and artificial intelligence based blood testing devices available. At home cholesterol tracking is very common because of these devices. Basic and more advanced model of these devices are available with multiple specification option. With the help of blood testing devices can access general state of health, any type of infection, status of organ such as liver and kidney working properly or not and screening of certain genetic condition. Some of the blood testing devices are very expensive and they require sensors every month. Price of the sensor of blood testing devices depends on the brand of the products. In some cases such as diabetes, Sensor of these devices measures blood glucose on the basis of interstitial fluid. Blood testing devices having attached to the body its annoying sometime. In case of pricking glucose devices risk of spreading illness occurs like HIV, Hepatitis A and B. Some blood testing kits are unreliable or some time provides false result and on the basis of false result self-diagnosis might be risky.

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Blood testing devices validate the complete blood testing for cancer monitoring. Using blood testing devices Patient itself can perform blood diagnosis and place a drop of blood on testing strip in devices and analyzes. Blood testing devices provides reading about neutrophils, lymphocyte, platelets, morphology and cell activation and patient can view diagnosis results in a seconds. For the manufacturers, technological gains and product development represent the best strategies so as to dominate the market. The demand for minimal invasive tests and diagnostics have led companies to develop other body fluids such as tears, saliva, urine and others to measure glucose levels. Technology has been increasingly harnessed to develop other physical testing methodologies over the traditional chemical ones. For example, LighTouch Medical is developing laser-based device using occlusion spectroscopy for measuring blood glucose.

On the basis of geographical region, Global Blood Testing Devices Market is segmented into several key regions viz. North America, Latin America, Western Europe, Eastern Europe, and Asia Pacific excluding Japan, Japan, and Middle East & Africa. The incidence of diabetes is higher in regions such as Asia Pacific, North America and Western Europe. Demand for blood testing devices also correlated well with the growing income and healthcare expenditure of the world .North America expected to register the fastest growth in the global blood testing devices, due to large patient pool and awareness of advanced technology and high demand of diabetes, cholesterol, fever, flue and many more care products. Due to lifestyle, prevalence of obesity is very high and other environmental factor escalates diabetic and cholesterol population. Major factor such as price analysis, supply chain analysis, political, social and technical also provide forecast number of market. Europe and Asia pacific region are also foresees to market moderate rate.

Blood testing devices which would exceed industry standards are being developed, and manufactured by key industry leaders. Connected devices and the internet of things are new advances which are expected to drive the future market. Manufacturers are developing connected apps with personalized blood testing to bring new avenues to customers. The major key players in the global blood testing monitoring system are Roche, Abbott laboratories, Biomerica Inc., Siemens Healthineers, Becton Dickinson & Company, Trividia Healthcare, Arkay.inc, B. Braun Melsungen AG, Bayer Healthcare AG, Becton Dickinson, F. Hoffmann-La Roche, Life Scan, Novel Biomedical Corporation, Terumo Europe N.V and many more.

The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.

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