Pune, India, February 10, 2021 (GLOBE NEWSWIRE) --Bilirubin Blood Test Market Overview:-
According to Market Research Future (MRFR) experts, GlobalBilirubin Blood Test Marketis valued at an impressive 5.44% CAG and is projected to exceed $1,853.2 million by 2027.
The global bilirubin blood test market is expected to increase due to the increase in neonatal jaundice and more significant healthcare spending. The increase in per capita income will also boost the market. Due to the increasing prevalence of diseases such as hemolytic anemia, hepatitis and liver cirrhosis, the demand for these tests is expected to increase. Technological advances are likely to fuel the development of the bilirubin blood test. Many blood tests are performed to monitor bilirubin levels in patients, which is expected to drive the growth of the industry. However, due to lack of awareness and skills shortages, the market is likely to be tight during this forecast period. Despite constant technological innovations and product improvements, market growth can still be achieved through technological innovations and product improvements.
The coronavirus disease that caused a pandemic claimed many lives. Elevated bilirubin levels have been seen in some patients with COVID-19. Studies linking bilirubin levels and death rates to COVID-19 are limited. Therefore, the Covid-19 pandemic has triggered an increase in research and development initiatives and investments in genetics that can be useful to design and conduct effective studies and, in turn, find possible health strategies aimed at facing the current To combat the COVID-19 pandemic and consequently create new opportunities for global genetic panel market participants.
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Companies develop products with enhanced features and specific manufacturing standards to gain a competitive edge in the marketplace. Modern products developed by market participants allow their suppliers to retain their existing customers while attracting new ones. Companies are looking for innovative products that will drive sales and increase volume, and these products will have a positive impact on the market in the near future.
The market is becoming highly competitive and major players are considering various strategies to expand their portfolios. Some of the main players in this market are:
- Royal Philips NV, F.
- Hoffmann-La Roche AG
- Thermo Fisher Scientific Inc.
- Beckman Coulter, Inc.
- Randox Laboratories Ltd.
- Drägerwerk AG & Co. KGaA
- Reichert, Inc.
- Advanced Instruments
- instrumentation laboratory
By test type, the market includes direct/conjugated bilirubin tests, serum bilirubin tests, and indirect/unconjugated bilirubin tests. Currently market leading bilirubin is used in many tests in many cases. The increase in cases of liver disease is driving the growth of the market, which can generate a CAGR of 3.77%, depending on the research. However, it will face strong competition from direct/conjugated bilirubin, which is expected to have the fastest growth rate during the period.
Depending on the product type, the market includes consumables and instruments. The increase in demand for portable devices helped to guarantee the first place in consumables, which allowed a growth of 5.02% in the period. Meanwhile, the instrument segment will grow faster through 2023.
For the application, there are great habits in children/infants and adults. In recent years, the number of people affected by jaundice has increased dramatically enough to make it the top-grossing sub-segment.
The end-user market consists of hospitals, clinics and home care services. People's reliance on hospitals has helped the sub-segment generate incredible revenues and is expected to continue growing at a rate of 5.7%.
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North America and South America are the main candidates. North America dominates the region as it is home to more biotechnology companies and has better infrastructure than most of the region. Another factor driving the market is the high prevalence of neonatal jaundice and developed economies like the US and Canada. Global players such as Beckman Coulter and Thermo Fisher Scientific are headquartered in the region, which represents an opportunity for regional market expansion.
The Europe region is likely to occupy the second largest regional market in the reporting period. A large number of babies with jaundice has led to additional research on early detection. The main factors driving the market are the focus of this analysis. The availability of research funding, a well-developed healthcare infrastructure, a large patient population and strong government support for research and development will drive the European market. In addition, increasing R&D investments and initiatives, as well as global market players, lead to growth opportunities in Europe during the period.
APAC is currently the fastest growing region. Its large population can be considered a factor that, together with large investments in the health sector, can boost the market in the near future. The growing number of emerging markets in the region, driven by rising healthcare costs, is driving market growth. Furthermore, favorable government policies combined with the untapped market in the region are leading to further market growth.
The inability to fully advance the biotechnology and pharmaceutical industries would have reduced business growth in the Middle East and Africa due to lack of technological know-how. Due to the limited number of biotechnology consulting services available globally, the Middle East and Africa has the smallest share of the global market. However, the market for genetic panels in the Middle East and Africa is expected to gradually grow due to rising healthcare spending and the growing number of people seeking health diagnostics and tests. UAE, Saudi Arabia and Kuwait are expected to lead the Middle East and Africa market. By comparison, the African region will see modest growth over the next decade.
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July 2020: Scientists at the SN Bose National Center for Basic Sciences in India reported new methods of measuring bilirubin levels in newborns to detect signs of jaundice. The operation of the device is based on techniques based on non-contact spectrometry to measure neonatal bilirubin levels, regardless of the limitations of other available bilirubin measurement devices.
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