Bilirubin Blood Test Market is Increasing at a Healthy CAGR of 5.44% During Forecast to 2023

 

Market Overview

A bilirubin blood test helps to assess the health of your liver and is also frequently used to diagnose jaundice in the newborns. A healthcare professional collects a blood sample from a vein in the arm with the help of a needle. Blood collected in a test tube is sent for testing to diagnose conditions related to red blood cell production. In other words, this test allows diagnosing the cause of jaundice and conditions such as hemolytic anemia,liver disease, and bile duct obstruction.

Market Research Future estimated that the global bilirubin blood test market is anticipated to reach a valuation of USD 1,853.2 Million and poised to register a CAGR of 5.44% during the forecast period, 2016-2027.

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The global Bilirubin Blood Test Market is constantly growing due to the high prevalence of neonatal jaundice in infants and the growing demand for portable diagnostic devices. While the market is growing at a steady pace, lack of knowledge and skilled professionals is anticipated to hold back the market growth during the evaluation period. However, constant technological innovation and product improvements from market participants can significantly stimulate market growth. For example, a technique called transcutaneous bilirubin measurement was recently developed in Singapore. It is inexpensive than traditional testing, very precise, and offers fast results. The most important feature is the pain-free procedure and does not cause any trauma to the child.

Key Players:

Randox Laboratories Ltd, F. Hoffmann-La Roche AG, Koninklijke Philips N.V, Beckman Coulter, Inc., and Thermo Fisher Scientific Inc.

Market segmentation:

The global Bilirubin Blood Tests Market is widely bifurcated based on various segments such as test type, product type, applications, and end-users.

The test type segment of the global bilirubin blood test market is divided into direct / conjugated bilirubin testing,total serum bilirubin (TSB), and indirect/unconjugated bilirubin testing. The total serum bilirubin segment acquired a noteworthy market share attaining avalue of $495.4 million in 2015 and is anticipated to have a CAGR of 5.77% during the forecast period.

The global market, based on product type, is segmented into instruments and consumables. Consumables are predicted to have the largest market share over the period considered, with the CAGR, 5.02% from2016 to 2027.

The application segment of the global market is bifurcated into pediatrics / infants and adults. The infant / child segment is flourishing due to the high occurrence of jaundice in infants. The segment will have the largest market share during the forecast period and is expected to have a CAGR of 5.70%.

On the basis of end-user, the bilirubin blood test market is classified into hospitals, home care,pediatric,and clinics. The hospital segment is likely to influence the global bilirubin blood test market due to the growing demand for bilirubin blood tests.

Regional Perspectives:

The Americashold the largest share of the global market. North America has the largest market share due to the presence of a large number of biotechnology companies involvedin the production of innovative products. In addition, a large number of market participants in the region are busy with acquisitions and alliances to fortify their market presence and expand their product portfolio.

On the other hand, Europe is the second-largest market due to the increasing prevalence of jaundice and the increasing frequency of government initiatives to raise awareness about these tests. Well-developed field technology is poisedto stimulate the bilirubin blood market in the region.

Moreover, Asia Pacific is seen as the fastest-growing region due to a large patient population. In addition, rising healthcarespending related to favorable government policies in developing countries such as China and India are contributing to market growth in this region.

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The Middle East and Africa have the lowest market share due to the weak economic situation, poor medical infrastructure, especially in the African region.

Recent Updates:

Calmark Sweden AB declared that innovation project attributed to the first biomarker, bilirubin, is moved to verification and validation. This final phase is projected to extend for almost eight weeks. Post completion, the regulatory documentation will be integrated to get an approval of CE Mark.

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