21-Jun-2022 | Zion Market Research
The global blood transfusion diagnostics market was worth around USD 4.5 billion in 2021 and is estimated to grow to about USD 7.2 billion by 2028, with a compound annual growth rate (CAGR) of approximately 7.5 percent over the forecast period.
Blood transfusion refers to the process of transferring blood from a healthy blood donor to a patient, intravenously. The process is used to treat various medical conditions by transferring essential blood components. Earlier, whole blood was used in blood transfusion, however, with modern techniques, only specific components like white blood cells, red blood cells, plasma, clotting factors, and platelets are transfused.
Blood transfusion is essential for patients who have suffered major accidental injuries, or who suffer from illnesses like leukemia, kidney diseases, anemia, and others.
Blood transfusion diagnostics are used to determine the medical data on blood components which are subsequently used to zero down on the correct blood transfusion process and assist healthcare professionals in confirming if a certain blood transfusion between donor and acceptor should be carried out or not.
The global blood transfusion diagnostics market was impacted by Covid-19 with a balanced outcome. On one hand, the demand for blood transfusion diagnostics increased to deal with the rising uncertainty of the virus in the initial phase whereas, the supply was reduced due to a shortage of blood units, lack of skilled professionals, and doubtfulness of virus transmission due to blood transfusion.
However, the global market is showing signs of steady growth during the forecast period.
There has been significant growth in the number of anemic cases globally. As per recent reports submitted by WHO, at least 1.6B of the world population is expected to suffer from anemia in the coming years. Anemic patients require a regular blood transfusion to help them deal with the effects of the disease. The rise in the number of anemic patients is expected to aid the global blood transfusion diagnostics market growth during the forecast period. This global market growth is also assisted by the increasing number of blood-related disorders like cancer, hemophilia, or chronic kidney diseases. A surge in the number of accidental cases, severe injuries during natural disasters, trauma, and complications during pregnancy or childbirth is anticipated to propel the global market growth in the coming years.
The high cost associated with the equipment and test is projected to limit the global market growth while the introduction of advanced diagnostics and kits may drive the global market during the forecast period. The lack of skilled professionals poses a challenge for the global market expansion.
The global blood transfusion diagnostics market is divided based on product type, application, end-user, and region. On the basis of product type, the global market is fragmented into kits & reagents, and instruments. By application, the market is split into molecular disease screening and blood grouping. Based on the end-user segment, the market is classified into blood banks, diagnostic laboratories, and hospitals.
The global blood transfusion diagnostics market is expected to be dominated by North America during the forecast period owing to the high rate of blood donations, the high adoption rate of the blood transfusion process, and the developed healthcare infrastructure.
Europe may register a high CAGR during the forecast period because of the increasing availability of CE-approved instruments which are useful in Nucleic Acid tests and other blood transfusion-related processes.
Asia-Pacific is projected to grow significantly in the coming years because of the rising population and surging number of critical patients requiring blood transfusion.
Latin America & Africa are showing signs of steady growth owing to the presence of a large number of untapped markets.
Some of the predominant players that are operating in the global blood transfusion diagnostics market include F. Hoffmann-La Roche AG, Bio-Rad Laboratories, Abbott, Ortho Clinical Diagnostics, Immucor, Inc., BIOKIT, Danaher, DiaSorin S.P.A., BAG Healthcare GmbH, and Quotient Limited, among others.
Browse the full “Blood Transfusion Diagnostics Market By Product Type (Instruments, Kits & Reagents), By Application (Blood Grouping, Molecular Disease Screening), By End-User (Hospitals, Diagnostic Laboratories, Blood Banks), And By Region – Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2022 – 2028.” Report at https://www.zionmarketresearch.com/report/blood-transfusion-diagnostics-market
Global blood transfusion diagnostics market is segmented as follows:
By Product Type
By End User
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