Global Blood Transfusion Diagnostics Market Overview
The key drivers impacting the blood transfusion diagnostics market are the growing prevalence of blood-related disorders such as hemophilia, blood cancer, severe anemia, and chronic kidney diseases which require a blood transfusion. For Instance, According to the World Health Organization estimations Haemoglobin disorders are considered the most critical health problem in 71% of 229 countries, and this 71% of countries include 89% of all births globally. Approximately 330 000 affected infants are born annually, of which 83% sickle cell disorders and 17% are affected by Thalassemia. Moreover, the increase in the number of blood transfusion procedures increasing demand for donor screening, and a growing number of road & trauma accident cases and surgeries contribute to blood transfusion diagnostics market demand in the later years.
According to Value Market Research, the global blood transfusion diagnostics market size was valued at about USD 3.6 billion in 2019 and is estimated to grow at a CAGR of around 6.7% during the forecast period 2021 to 2027.
The increasing demand for donor screening and a growing number of road & trauma accident cases and surgeries will likely augment the need for blood transfusion diagnostics in the forecast period. For instance, According to the WHO 2018 report, around 50 million road traffic injuries occur each year across the globe. As per the CDC estimates, an average of nearly 6 million car accident cases takes place in the U.S in a year. However, lack of sufficient blood donations as compared to demand hampers the market in the long run. Nevertheless, the market trends, such as increased innovation and development in blood transfusion diagnostics and growing initiatives for blood donation campaigns, might provide massive market opportunities to the market's key players.
The blood transfusion diagnostics market is widespread, with many local and international players. The market leaders follow diverse strategies to strengthen their market, such as amalgamation, extending product portfolio, acquisitions, contracts, product upgrades to raise their market share globally. The key players in the report are Grifols S.A., Ortho Clinical Diagnostics, Bio-Rad Laboratories, Inc., Quotient Ltd, Abbott Laboratories, Immucor, Inc., F. Hoffmann-La Roche Ltd.
In this research report, the blood transfusion diagnostics market is segmented by product, application, end-use, and region.
Analysis by Product:
By Product, the report is segmented into reagents & kits, instruments, and others. The reagents and kits segment dominates with the highest market share of 66% in the forecast period. It is due to the repetitive purchase of these products required to screen both donor and recipient samples. Moreover, the availability of a wide variety of blood grouping, typing, and donor screening reagents, kits, and assays manufactured by global and local companies contribute to the reagents & kits segment's growth in the forecast period.
Analysis by Application:
By Application, the report is divided into blood grouping, disease screening, serological disease screening, and molecular disease screening. The disease screening segment dominates the application segment with a market share of 61% in 2020. It is due to the rising number of TTI cases, and diagnostic tests are commonly performed in the blood banks. Moreover, cross-matching tests and routine blood typing tests are performed before transfusion therapy to identify the donor and recipient blood compatibility, contributing to the high market demand from the disease screening.
Analysis by End-Use:
By End-use, the report is divided into hospitals, diagnostic imaging centers, blood banks, and others. The blood banks segment dominates the end-use segment with a market share of 68% in 2020. It is due to a large number of disease screening and blood typing services performed before transfusion therapy. Moreover, these facilities maintain blood supply safety through disease screening while complying with the regulatory standards contribute to the high market demand from the diagnostic imaging center.
Analysis by Region:
In the regional outlook of the global blood transfusion diagnostics market, the North America region dominates with the largest market share in 2020. It is due to the presence of major companies, easy availability of various assays. Moreover, the growing prevalence of blood-related disorders and increasing awareness among people about blood donations contribute to the tremendous market growth across North America.
Market Segmentation covered in the Report:
- Reagents & Kits
- Blood Grouping
- Disease Screening
- Serological Disease Screening
- Molecular Disease Screening
- Blood Banks
- Diagnostic Laboratories
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
This market research report has been produced by gathering information on the basis of primary and secondary research. Secondary research has been done by using various sources which include (but not limited to) Company Websites, Paid Data Sources, Technical Journals, Financial Reports, SEC Filings, and other different industry publications.
If specific information is required which is not currently within the scope of the report, it can be provided as a part of customization.