Pune, India, May 24, 2021 (GLOBE NEWSWIRE) -- Blood Transfusion Diagnostics Market Size| 2021 Covid-19 Impact On Healthcare Industry Global Analysis By Size, Trends, Growth, Share, Business, Key Players, Merger, Statistics, Competitive Landscape, And Regional Forecast To 2026 is latest study published by Fortune Business Insights. The global blood transfusion diagnostics market size is projected to reach USD 7.08 billion by 2028, exhibiting a CAGR of 7.1% during the forecast period. Fortune Business Insights™ shares this information in its report, titled “Blood Transfusion Diagnostics Market, 2021-2028”. As per the report, the value of the market stood at USD 4.13 billion in 2020. One of the primary factors driving the growth of the market is the increasing rate of blood donations, which is backed by growing awareness from several initiatives taken by governments and NGOs worldwide. For instance, as per the findings of the National Centre for Biotechnology Information, globally, nearly 85 million units of blood are transfused every year.
The Blood Transfusion Diagnostics Market report offers an in-depth analysis of the Active Pharmaceutical Ingredient industry and the demand drivers by highlighting information on several aspects of the market. Prudent Markets addresses all these aspects and provides the latest scoop and detailed eye-opening study on all major & emerging business segments. In addition to this, the report sheds light on the industry developments by key players, which are contributing to the expansion of this industry. The development scope, feasibility study, Blood Transfusion Diagnostics Market concentration, and maturity analysis is elaborated in this report.
Information given in the research report pertains to different technological advancements introduced in recent years, which allows for a meticulous analysis of the industry and offers a more comprehensive understanding to the readers.
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List of Key Companies Covered in the Global Market:
• Grifols, S.A. (Barcelona, Spain)
• Immucor, Inc. (Georgia, United States)
• Bio-Rad Laboratories, Inc. (California, United States)
• Ortho Clinical Diagnostics (New Jersey, United States)
• F. Hoffmann-La Roche Ltd (Basel, Switzerland)
• QUOTIENT (Eysins, Switzerland)
• Merck KGaA (Darmstadt, Germany)
• Abbott (Illinois, United States)
• Other Players
Market Segmentation
The market is categorized on the basis of product, application, end user, and geography. In terms of product, the market is divided into instruments and reagents & kits. Based on application, it is fragmented into blood screening and blood group typing. On the basis of end users, the market is bifurcated into hospital-based laboratories and independent laboratories & blood banks. On the regional basis, it is segmented into North America, Europe, Latin America, Asia Pacific, and the Middle East & Africa.
The outbreak of covid-19 in the global market has made companies uncertain about their future scenario as the prolonged lock-down finds a serious economic slump. The latest survey on COVID-19 Outbreak-Global Blood Transfusion Diagnostics Market is conducted to provide hidden gems performance analysis. Essential growth factors and study of Basis points [BPS] have been discussed in the following report. Research Report explains a detailed overview of market dynamics, segmentation, product portfolio, business plans, and the latest development in the industry.
Market to Record Slower Growth Due to Corona Scare
COVID-19 has been the biggest challenge of all time for businesses globally. The pandemic had come across as a potential threat to the global economy. This market, for instance, has been adversely affected by the social distancing norms and the viral nature of the virus. There has been a significant drop in the availability of voluntary blood donors due to the fear of infections. Based on our findings, the market observed a slower growth of 3.1% in 2020.
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What Does the Report Offer?
While making the report we incorporated the market ranking of major players along with their new service/product launches, partnerships, business expansions, and acquisitions. The dynamics of the market were closely studied along with the growth opportunities in the years to come. Our next step included qualitative and quantitative analysis of the market based on segmentation, involving both economic as well as non-economic factors. In addition, we thoroughly observed the current, as well as future outlook of the industry with respect to the recent developments.
Driving factor
Increasing Cases of Blood-related Disorders to Drive growth
According to the World Health Organization (WHO), globally, around 42% of children below five years have been suffering from anemia. The rising prevalence of blood disorders among patients worldwide is projected to drive the blood transfusion diagnostics market growth. In addition, several awareness programs initiated by governments in various developed countries regarding safety from infectious diseases are predicted to boost the demand for blood transfusion diagnostics. However, limited healthcare infrastructure in several developing nations restricts the required adoption of diagnostics, hindering its demand in such countries. In addition, the high cost associated with the process may restrain the market growth in the coming years.
Regional Insights
Highly Developed Healthcare Infrastructure in the U.S. to Boost Demand in North America
North America is estimated to dominate the market owing to the highly developed healthcare infrastructure in the U.S. Moreover, the high rate of adoption in the region is predicted to expand the blood transfusion diagnostics market share. In addition, the increasing awareness regarding blood donations among the general population is anticipated to further strengthen the adoption of blood transfusion diagnostics. The market value of North America stood at USD 1.66 billion in 2020.
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Europe is anticipated to hold a significant market share during the forecast period. The increasing availability of CE-approved devices for serological and Nucleic Acid Test (NAT) based methods is projected to drive the market growth in the region.
This report focuses on Active Pharmaceutical Ingredient Global Market, especially in North America, Europe and Asia-Pacific, South America, Middle East and Africa. This report categorizes the market based on manufacturers, regions, type and application. Regional analysis is another highly comprehensive part of the research and analysis study of the global market presented in the report. This section sheds light on the sales growth of different regional and country-level markets. For the historical and forecast period to 2026, it provides detailed and accurate country-wise volume analysis and region-wise market size analysis of the global market.
Competitive Landscape
Key Upgrade in Products to Aid Key Players Offer Enhanced Diagnostics Quality
Key players operating in the market are focusing on upgrading their products to offer improved patient care and enhanced quality of diagnostics. This will help them gain prominence over the competition. For instance, in November 2020, Ortho Clinical Diagnostics announced the compatibility of its semi-automated ORTHO Optix reader with the CE mark. This will help the company offer small-size labs in enhancing their functionality.
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Industry Developments:
October 2018 – Grifols S.A., a Spanish pharmaceuticals enterprise, announced to receive approval for its ID Core XT molecular test from the U.S. Food and Drug Administration. The new test will be used for genotyping in the U.S. market.
Table of Content
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- 2.Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- New Product Launches, by Key Players for COVID-19
- Impact of COVID-19 on the Market
- Prevalence of Key Bleeding Disorders, Key Regions/ Country, 2020
- Key Industry Developments
- Global Blood Transfusion Diagnostics Market Analysis, Insights and Forecast, 2017-2028
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Product
- Instruments
- Reagents & Kits
- Market Analysis, Insights and Forecast – By Application
- Blood Screening
- Blood Group Typing
- Market Analysis, Insights and Forecast – By End User
- Hospital-based Laboratories
- Independent Laboratories & Blood Banks
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
- North America Blood Transfusion Diagnostics Market Analysis, Insights and Forecast, 2017-2028
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Product
- Instruments
- Reagents & Kits
- Market Analysis, Insights and Forecast – By Application
- Blood Screening
- Blood Group Typing
- Market Analysis, Insights and Forecast – By End User
- Hospital-based Laboratories
- Independent Laboratories & Blood Banks
- Market Analysis, Insights and Forecast – By Country
- U.S.
- Canada
- U.S Blood Transfusion Diagnostics Market Analysis, Insights and Forecast, 2017-2028
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Application
- Blood Screening
- Blood Group Typing
- Canada Blood Transfusion Diagnostics Market Analysis, Insights and Forecast, 2017-2028
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Application
- Blood Screening
- Blood Group Typing
- Europe Blood Transfusion Diagnostics Market Analysis, Insights and Forecast, 2017-2028
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Product
- Instruments
- Reagents & Kits
- Market Analysis, Insights and Forecast – By Application
- Blood Screening
- Blood Group Typing
- Market Analysis, Insights and Forecast – By End User
- Hospital-based Laboratories
- Independent Laboratories & Blood Banks
- Market Analysis, Insights and Forecast – By Country/ Sub-region
- U.K.
- Germany
- France
- Spain
- Italy
- Switzerland
- Denmark
- Sweden
- Rest of Europe
Continued...
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