Blood Testing Market Regional Analysis

North America dominated the global blood testing market and accounted for the largest revenue share of over 45% in 2021. A rise in the number of strategic activities which are being undertaken by several market players and government bodies to increase the donation of plasma in the region is one of the major factors driving the market growth over the forecast period. The United States topped in the export value blood testing instruments in 2021. In the United States, the export value for blood testing instruments was USD 27,782,430 thousand in 2020 which rises to USD 30,967,176 thousand in 2021 with an annual growth rate of 11%. The increasing number of blood donations is further anticipated to fuel the demand for the testing products in the region.

Furthermore, Asia Pacific is likely to grow at fastest CAGR in the blood testing market over the forecast period. Continuously rising prevalence of chronic disease in the developing countries such as India, China, Indonesia is a leading factor propelling the market growth. In addition, increasing investment by various multinational companies in the sector of development in the region is expected to have a positive impact on the global blood testing market. For instance, in September 2020, National Centre for Global Health and Medicine, Japan developed a blood test that enable us to get early warning for serious COVID-19 cases.