FMI’s New Report, titled, “Blood Culture Test Market: Global Industry Analysis and Opportunity Assessment 2016-2026” offers 10-year forecast and analysis.
Valley Cottage, NY -- (SBWIRE) -- 06/03/2016 -- Blood culture is defined as the microbiological culture of blood, to detect infections that are spreading through the bloodstream. The infections spreading through the blood stream include bacteremia and septicemia among others. This is possible because the bloodstream is usually a sterile environment. Negative effect of an improper blood culture includes risks of wrong venipuncture and the occurrence of false positive results. This phenomenon has been observed in over 3% of the blood culture cases and could hamper patient safety through inappropriate diagnosis and treatment. Globally, bloodstream infections (BSI) one of the leading cause of morbidity and mortality, and associated with significant healthcare costs. It has been estimated that approximately 1 million patients in the U.S. are diagnosed with BSI, costing the healthcare system nearly US$ 1 billion.
Blood Culture Test Market: Drivers and Restraints
Drivers for the blood culture test market include high incidence of blood stream infections, rising demand for rapid diagnostic tests, a large percentage of aging population across countries apart from rapid advancements in medical technology, growing awareness among the patients and increasing adoption rate of the latest technologies among patients. Some of the latest technologies for blood culture test include multiplex real-time PCR system, use of molecular method, mass spectrometry & electro spray ionization.
Restraints for the market include high cost of advanced blood culture techniques and lack of appropriate reimbursement policies. Further, lack of proper training among medical technicians in developing countries and other resource-poor nations is also expected to hamper the revenue growth of the market.
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Blood Culture Test Market: Segmentation
Blood Culture Test market can be segmented into these following ways:
Segmentation by type of culture procedure
Conventional manual method
Segmentation by product type
Blood Culture Media
Aerobic Blood Culture Media
Anaerobic Blood Culture Media
Mycobacterial Blood Culture Media
Fungi/Yeast Blood Culture Media
Reagents and Assay Kits
Automated Blood Culture Analyzers
Segmentation by indications
Segmentation by regions
Blood Culture Test Market: Overview
Increasing demand for rapid diagnosis and quicker results is positively impacting the demand for blood culture test market globally. Increasing prevalence of hospital acquired infections, infectious diseases, lowered immunity levels due to high pollution levels is also increasing the demand for blood culture tests. However stringent regulations in regions such as North America and Europe may negatively impact the growth of the market over the forecast period. Improving medtech investments globally would however, lead to increased investments in new advanced research techniques and lead to continuous evolution in the blood culture market. Developing markets are expected to witness higher growth rates due to rising awareness among the patient population and also higher affordability power.
Blood Culture Test Market: Region-wise Outlook
Depending on geographic regions, blood culture test market is segmented into seven key regions: North America, South America, Eastern Europe, Western Europe, Asia Pacific, Japan, and Middle East & Africa.
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In terms of geography, North America dominates the market, followed by Europe and Asia-Pacific. However, rising healthcare aid will drive the markets over Sub-Saharan Africa, India, China, and other East Asian nations. United States dominates the Blood Culture Test market driven by technically advanced healthcare infrastructure and high patient awareness & healthcare expenditure levels. Some advanced medtech techniques include Bac Spectrum assay, electro spray ionization, & mass spectrometry. The country is also expected to benefit from favorable government initiatives such as the Affordable Care Act. Emerging markets include Eastern European countries followed by countries in Eastern Africa. Rising disease incidences in these countries is expected to prove favorable for the growth of the blood culture test market.
Blood Culture Test Market: Key Players
Some of the key players in blood culture test market are bioMérieux SA, Roche Diagnostics, Becton Dickinson, Siemens AG, Thermo Fisher Scientific Inc., Bruker Corporation, Cepheid, Alere Inc., Nanosphere and Abbott Laboratories.