The Global Bilirubin Blood Test Industry is expected to grow at a CAGR of 5.44% during the forecast period.
World Bilirubin Blood Test Industry Scenario:
Bilirubin is a yellow pigment that is present in an individual’s blood and stool. It is produced in the body when hemoglobin in old red platelets is broken down. The presence of bilirubin is an indication of jaundice. Jaundice is often recognized by the yellowish shade of the skin, tissues, eyes, and certain body liquids. Bilirubin blood test is the process of measuring the amount of bilirubin in a blood sample. High prevalence of neonatal jaundice in infants and increasing per capita healthcare expenditure drive the market growth. According to the Centres for Disease Control and Prevention in 2015, approximately 60% of full-term infants develop jaundice within several days of birth. Moreover, the Centres for Disease Control and Prevention reported in 2015, in the U.S., the total healthcare expenditure accounted for 17.8% of the total gross domestic product (GDP) i.e. USD 3.2 trillion.
Additionally, increasing demand for portable/hand-held diagnostic devices fuels the market growth. The advantages of portable devices include the elimination of the time-consuming draws. Moreover, such devices are chargeable and come with digital technology, which ensures ease of use and accurate measurement of the results. Following the same trend, Koninklijke Philips N.V. came up with its bilichek system that is a non-invasive bilirubin measurement device. However, lack of awareness and trained professionals is likely to restrain the market growth during the forecast period.
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Key players in Global Bilirubin Blood Test Market:
Koninklijke Philips N.V. (Europe), Beckman Coulter, Inc. (Danaher) (U.S.), Thermo Fisher Scientific Inc. (U.S.), Randox Laboratories Ltd. (Europe) and F. Hoffmann-La Roche AG (Europe)
Bilirubin Blood Test Market Segmentation:
The global bilirubin blood test market is segmented on the basis of test type, product type, application, and end users.
On the basis of the test type, the market is segmented into indirect/unconjugated bilirubin test, direct/conjugated bilirubin test, and total serum bilirubin (TSB).
On the basis of the product type, the market is categorized into analyzers, bilirubinometer, and consumable. The analyzers segment is sub-segmented into the photometric analyzer, blood gas analyzer. The bilirubinometer segment is sub-segmented into hand-held, and bench top.
On the basis of application, the market is segmented into pediatric/Infants and adults.
On the basis of end users, the market is segmented into hospitals, pediatric clinics, and home healthcare.
Bilirubin Blood Test Market Regional Analysis:
North America dominates the bilirubin blood test market owing to a well-developed healthcare sector. Moreover, the high prevalence of neonatal jaundice in infants and developed economies like the U.S. and Canada, which have high per capita healthcare expenditures fuel the market growth within the region. Additionally, Beckman Coulter, Inc., and Thermo Fisher Scientific Inc. are some of the major players of the global bilirubin blood test market whose presence is marked within the regional boundaries of the North America, fuelling the market growth.
Europe is the second largest bilirubin blood test market, which is followed by Asia Pacific. Availability of funds for research, well-developed healthcare infrastructure, huge patient population, and government support for research & development drive the market in Europe. Moreover, the presence of developed economies within the region like the U.K and the Germany, which have high healthcare expenditures fuels the market growth.
Asia Pacific is the fastest growing market due to the presence of developing economies like India and China within the region, which has increasing healthcare expenditures. According to the Indian Brand Equity Foundation in 2017, the Indian healthcare sector is estimated as one of the fastest growing industries and is expected to advance at a CAGR of 22.87% during 2015-20, thereby, will reach USD 280 billion by 2020. This along with favorable government policies is likely to boost the market growth in the presence of a huge opportunity for the untapped market within the region.
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Major TOC of Global Bilirubin Blood Test Market Research Report –Forecast till 2027:
1 Report Prologue
2 Market Introduction
2.2 Scope of Study
2.3 Research Objective
2.4 Assumptions & Limitations
2.5 Market Structure
2.6 Market Segmentation
2.6.1 By Test Type
126.96.36.199 Indirect/Unconjugated Bilirubin Test
188.8.131.52 Direct/Conjugated Bilirubin Test
184.108.40.206 Total Serum Bilirubin (TSB)
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