Global Bilirubin Blood Test Market Research 2024, Forecast To 2033
10 Oct, 2024
The bilirubin blood test market has seen significant growth, rising from $1.26 billion in 2023 to $1.35 billion in 2024, achieving a compound annual growth rate (CAGR) of 7.1%. This growth can be linked to the increasing prevalence of liver diseases, advancements in neonatal care, and heightened health awareness. Additionally, factors such as technological innovations, improved healthcare infrastructure, regulatory approvals, and a growing adoption of point-of-care testing have contributed to this market expansion. Looking forward, the bilirubin blood test market is expected to continue its growth, reaching $1.78 billion in 2028 at a CAGR of 7.2%. Key drivers of growth during this forecast period include a rising demand for early diagnosis, an expansion of diagnostic laboratories, a growing incidence of chronic diseases, and the development of emerging markets. Major trends expected to shape the market include advancements in non-invasive testing methods, integration of digital health solutions, improvements in home testing kits, enhancements in test accuracy and speed, personalized medicine approaches, smart diagnostic devices, and innovations in portable testing devices.
Major Driver In The Bilirubin Blood Test Market
The increasing prevalence of liver diseases is expected to significantly influence the growth of the bilirubin blood test market in the upcoming years. Liver diseases comprise a variety of conditions that impair the liver's functionality, arising from causes such as infections, alcohol abuse, and metabolic disorders. The rise in liver diseases correlates with increasing obesity rates, excessive alcohol consumption, viral infections, and unhealthy lifestyle choices that lead to liver dysfunction. Bilirubin levels are affected by liver health, and bilirubin blood tests are crucial for diagnosing and monitoring liver function, providing essential insights into patient health, and assisting healthcare providers in managing liver-related conditions. For instance, a report from the European Centre for Disease Prevention and Control in April 2024 revealed 28,855 recorded cases of hepatitis B virus (HBV) infection across 30 EU/EEA Member States in 2022, showing a 78% increase from 16,187 cases in 2021. Therefore, the rising incidences of liver diseases are driving growth in the bilirubin blood test market, with projected market sizes of $1.8 billion in 2023, $2.2 billion in 2024, and expected to reach $3.1 billion by 2028.
Request A Free Sample Of The Bilirubin Blood Test Market ReportBilirubin Blood Test Market Competitive Landscape
Major companies operating in the bilirubin blood test market are F.Hoffmann-La Roche Ltd, Thermo Fisher Scientific Inc., Abbott Laboratories, Danaher Corporation, Siemens Healthineers AG, Koninklijke Philips N.V., Mindray Medical International Limited, Beckman Coulter Inc., Drägerwerk AG and Co. KGaA, Sysmex Corporation, Bio-Rad Laboratories Inc., Konica Minolta Inc., Instrumentation Laboratory LLC, Randox Laboratories Ltd., Ortho Clinical Diagnostics Inc., Natus Medical Incorporated, Nova Biomedical, Advanced Instruments LLC, Helmer Scientific Inc., Reichert Technologies Inc., Rousselet Robatel SAS, Labnet International Inc., AVI Healthcare Pvt. Ltd., Ginevri S.p.A.
Key Bilirubin Blood Test Market Trend
Major companies in the bilirubin blood test market are adopting a strategic partnership approach to expand their reach and enhance their service offerings. Such a partnership typically involves a collaborative relationship between two or more organizations, combining resources, expertise, and efforts to achieve shared goals. For example, in December 2023, Calmark Sweden AB, an Israel-based medical diagnostic biotechnology company, signed an exclusive distributor agreement with Techno Orbits in Saudi Arabia for Calmark's bilirubin test designed for newborns. Techno Orbits will manage the distribution and sales of the product, utilizing its existing network and relationships, including those with the Ministry of Health. This partnership aims to facilitate the introduction of Calmark’s bilirubin test into the Saudi market, where regulatory registration is expected to take 3 to 6 months.
Purchase The Global Bilirubin Blood Test Market Report Directly And Get A Swift DeliveryGlobal Bilirubin Blood Test Market Segmentation
The bilirubin blood test market covered in this report is segmented –
1) By Test Type: Total Serum Bilirubin Test, Indirect Or Unconjugated Bilirubin Test, Direct Or Conjugated Bilirubin Test
2) By Age Group: Adults, Pediatrics, Infants
3) By Application: Hospital, Clinic, Other Applications
By Geography:The regions covered in the bilirubin blood test market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
North America was the largest region in the bilirubin blood test market in 2023.
The Bilirubin Blood Test Global Market Report 2024 furnishes information about the global bilirubin blood test market, encompassing details like market size, projections for growth, segmentation across various sectors and regions, and an overview of competitors, including their revenues, profiles, and market shares. Furthermore, the report pinpoints potential opportunities and strategic directions derived from market trends and the strategies adopted by key competitors. The report also offers an assessment of how the COVID-19 pandemic, the Russia-Ukraine conflict, and increasing inflation have affected both global and regional markets, furnishing valuable strategic insights for businesses.