Blood Transfusion Diagnostics Market is Increasing at a Healthy CAGR of 8.2% During Forecast to 2023

 

Market Analysis: 

 

The global blood transfusion diagnostics market is predicted to touch USD 2.45 billion at an 8.2% CAGR between 2017-2023, reveals the latest Market Research Future (MRFR) report. Blood transfusion, simply put, is a life-saving procedure that replaces blood cells that are lost through severe bleeding during surgical procedures or in the case of patients suffering from anemia who require blood for increasing blood count. There are several medical problems or conditions which may need various forms of transfusion, including plasma, platelets, and red cells, such as during childbirth, pregnancy, blood problems, operations, or cancer. Blood transfusion diagnostics comprise of instruments such as kits and reagents, centrifuges, and analyzers that are used for different tests such as disease screening or blood grouping for patients and donors alike. 

 

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Various factors are propelling the blood transfusion diagnostics market growth. These factors, as per the new Market Research Future (MRFR) report, include government schemes for paid and voluntary blood donation, huge patient population suffering from chronic diseases especially leukemia, sickle cell anemia, and aplastic anemia, increasing awareness about automation of blood banks and blood transfusions, and strict regulations pertaining to the use as well as transfer of blood. Additional factors pushing market growth include demand for screened blood products, availability of different blood transfusion procedures, and increasing incidence of infectious diseases. 

 

On the flip side, lack of skilled experts for blood transfusion diagnostics, high operating price of testing, stringent regulatory policies for approvals, availability of alternative treatments, and increasing incidence of complications during the transfusion procedure are factors that may restrict the blood transfusion diagnostics market growth over the forecast period. 

 

Key Players: 

 

Biokit (Spain), Hologic/Gen-Probe (US), Quidel (US), Grifols (Spain), Fujirebio (Belgium), DiaSorin (Italy), BAG Healthcare (Germany), Abbott Diagnostics (US), Diagast (France), Beckman Coulter, Inc. (US), Novartis AG (Switzerland), Dickinson and Company (US), Becton, Ortho Clinical Diagnostics, Inc. (US), Siemens Healthineers (Germany), Bio-Rad Laboratories, Inc. (US), BioMérieux (France), Roche Diagnostics (Switzerland), Thermo Fisher Scientific, Inc. (US), Grifols (Spain), Beckman Coulter (US), Immucor (US), and Ortho Clinical Diagnostics (US). 

 

Market Segmentation:

 

·         The MRFR report provides an all-inclusive segmental analysis of the Blood Transfusion Diagnostics Market on the basis of blood product, technology, and end users. 

 

·         Based on the blood product, the blood transfusion diagnostics market is segmented into immunoglobulin preparations, albumin, plasma, platelets, red blood cells, and other products. 

 

·         By technology, the global blood transfusion diagnostics market is segmented into rapid test, fluorescence assay, nucleic acid amplification, ELISA, western blot, and other technologies. The ELISA segment is again segmented into colorimetric immunoassay (CI), fluorescence immunoassays (FIA), and chemiluminescence immunoassay. The nucleic acid amplification segment is again segmented into real-time PCR and thermomechanical analysis (TMA). 

 

·         Based on end users, the blood transfusion diagnostics market is segmented into laboratories, blood banks, clinics, and hospitals. Of these, the blood banks segment will dominate the market over the forecast period chiefly due to the increase in the number of blood centers and blood banks worldwide. 

 

Regional Analysis:

 

By region, the blood transfusion diagnostics market report covers the latest trends and growth opportunities across the Asia Pacific (APAC), the Americas, Europe, and the Middle East and Africa (MEA). Of these, the Americas will have the lion’s share in the market over the forecast period. Factors aiding growth in the region include strict rules related to transfusion and storage of blood, automation of blood banks, and growing adoption of nucleic acid implication test of diagnosis. Moreover, various awareness programs and camps conducted by the non-government organization for safe handling of blood is also boosting the market growth. 

 

The blood transfusion diagnostics market in Europe is predicted to have the second-largest share in the market over the forecast period. Factors aiding growth in the region include the collaboration of government bodies with NGO’s, availability of skilled healthcare professionals in the region, and burgeoning demand for improved diagnostics tests. 

 

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The blood transfusion diagnostics market in the APAC region is predicted to grow at the fastest pace over the forecast period. Factors aiding growth in the region include the adoption of new technology, the growing number of donors in the region, and the presence of several key players. Japan is the chief contributor in the region. 

 

The blood transfusion diagnostics market in the MEA is predicted to have steady growth over the forecast period. 

 

 

Industry News:

 

October 2019: Japanese scientists have created artificial blood in the laboratory, which can be transfused in patients irrespective of the blood type. It will help those who fail in getting immediate treatment during emergencies or times of need.