The global bilirubin blood test market is expected to grow at an approximate CAGR of 5.44% during the forecast period.
Bilirubin market is produced in the body when hemoglobin in old red platelets is broken down. This can be an indication of jaundice. Symptoms of jaundice include a yellowish shade of the skin, eyes, and certain body liquids. Bilirubin blood test is the process of measuring the amount of bilirubin in a blood sample, thereby, it is used in the diagnostics of jaundice. High prevalence of neonatal jaundice and increasing per capita healthcare expenditure is projected to drive the market growth during the forecast market. According to the Centers for Disease Control and Prevention in 2015, approximately 60% of full-term infants develop jaundice within several days of birth. Moreover, in 2015, according to the Centers for Disease Control and Prevention, in the U.S. the total healthcare expenditure accounted for 17.8% of the total gross domestic product (GDP), which accounted for USD 3.2 trillion. However, lack of awareness and trained professionals is likely to restrain the market growth during the review period
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Key Players
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).
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.
North America dominates the bilirubin blood test market owing to a well-developed healthcare sector and rising healthcare expenditures. Moreover, the high prevalence of neonatal jaundice and developed economies like the U.S. and Canada fuel the market growth within the region. Additionally, the presence of the global players like Beckman Coulter, Inc., and Thermo Fisher Scientific Inc. within the regional boundaries of the North America provides favorable backgrounds for 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 are likely to drive the market in the Europe.
Asia Pacific is the fastest growing region in the market. The presence of developing economies like India and China within the region, which have rising healthcare expenditures drives the market growth within the region. Moreover, favorable government policies and the presence of huge opportunities for the untapped market within the region boost the market growth.
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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 the application, the market is segmented into pediatric/Infants and adults.
On the basis of the end users, the market is segmented into hospitals, pediatric clinics, and home healthcare.
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