Blood Transfusion Diagnostics Market – Snapshot
Blood transfusion diagnostics are products used to conduct tests before transfusion of blood and blood products from donor to recipient. These products include instruments such as analyzers and centrifuges, and kits & reagents for various tests such as blood grouping and disease screening for donors as well as patients. Blood screening is a major step in the pre-transfusion process. Various instruments, test kits, and reagents based on molecular and serological techniques are used to detect transfusion transmitted infections (TTIs) along with establishing the compatibility of donor and patient blood group before transfusion. The global blood transfusion diagnostics market was valued at US$ 3.0 Bn in 2016 and is projected to expand at a CAGR of 5.9% from 2017 to 2025 to reach US$ 5.5 Bn by 2025.
Obtain Report Details @
Increase in shift toward automation in blood banks is likely to benefit blood collection facilities due to reduced turnaround time for test completion and overcoming the shortage of workforce required to conduct the requisite tests. Deployment of automated systems is anticipated to help these facilities to reorganize workflow and increase efficiency. Rise in demand for blood and blood components transfusions owing to large patient population suffering from chronic diseases such as aplastic anemia, sickle cell anemia, and leukemia is the major factor driving the blood transfusion diagnostics market. According to estimates provided by the American Cancer Society, nearly 62,130 new cases of leukemia were reported in the U.S. alone in 2017. According to Centers for Disease Control and Prevention (CDC) estimates, 100,000 people are affected by sickle cell disease in the U.S. each year. Rise in incidence of chronic diseases presents large patient population requiring blood transfusions. This is expected to drive demand for blood transfusions, leading to increase in demand for transfusion diagnostic instruments, kits, and reagents.
Request for Sample Copy of Report @
There is a shift toward automation of instruments, multiplexing assays, and new techniques for blood grouping and disease screening, delivering high throughput results with reduced turnaround time, and enabling health care providers to analyze multiple samples in short time. In February 2017, Immucor, Inc. announced the launch of MIA FORA NGS FLEX HLA Typing Assay, a new molecular test for blood typing. Increase in government initiatives and implementation of policies regarding blood safety and availability are anticipated to drive demand and consumption of blood transfusion diagnostic test instruments and kits, which in turn is likely to propel the market during the forecast period. In September 2017, the Ministry of Health of Saudi Arabia launched a national campaign named My Blood for My Country along with various protocols for blood transfusion diagnostics in the country. However, shortage of highly skilled technologists for blood transfusion services and decline in blood donation rates across the globe are likely to hamper the growth of the market. Nevertheless, burgeoning needs of blood banks for plasma testing of recovered plasma for infectious disease screening offers significant opportunity for players operating in the global blood transfusion diagnostic market for developing new tests and assays for plasma testing.
The global blood transfusion diagnostics market has been segmented based on product type, application, end-user, and region. In terms of product type, the kits & reagents segment is anticipated to account for major market share, followed by the instruments segment. Increase in blood donations and rise in number of blood transfusion procedures globally are factors contributing to the high consumption of kits & reagents for blood transfusion diagnostics. Based on application, the disease screening segment accounted for the largest market share in 2016 and is expected to gain market share by 2025. Increase in emphasis on disease screening tests owing to rise in incidence of transfusion transmitted infections is likely to augment the segment from 2017 to 2025. In terms of end-user, the blood banks segment held the dominant share in terms of revenue in 2016. The segment is projected to maintain its lead over the other segments during the forecast period. Increase in number of blood banks and blood centers globally is expected to fuel the growth of the market.
Request Report Brochure @
Geographically, North America was the leading market in terms of revenue due to high percentage of active and voluntary blood donors in countries such as the U.S. and Canada, increase in number of blood transfusions per year, and various blood transfusion policies being implemented regarding safety and testing of blood for infectious diseases. The market in Asia Pacific is projected to grow at a rapid pace during the forecast period, owing to large patient pool requiring blood transfusions and rise in awareness about disease screening in countries in the region.
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.
Transparency Market Research
90 State Street, Suite 700
Albany, NY 12207
USA – Canada Toll Free: 866-552-3453
Email: [email protected]