Noida, India, June 29, 2021 (GLOBE NEWSWIRE) -- A study recently conducted by the strategic consulting and market research firm BlueWeave Consulting revealed that the global blood screening market reached USD 1.8 billion in 2020 and is further projected to reach USD 4.0 billion by 2027, growing at a CAGR of 11.1% during 2021-2027 (forecast period). The growth of the global blood screening market can be attributed to rising health awareness among the population, increasing prevalence of various infectious diseases, and rising awareness toward blood donations. Blood screening methods are leveraged to help identify numerous infectious diseases, including but not limited to HBV (hepatitis B), HIV1 (Human immunodeficiency virus), HCV (hepatitis C), antibody test for COVID-19, HIV2, and others. Diseases have been on the rise in recent years as a result of rising urbanization and overcrowding in developing nations, which in turn is contributing to the growth of the global blood screening market.
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Increased awareness regarding blood donations is propelling the global blood screening market forward
The increased efforts of various organizations and governments have resulted in an increased donation and pre-transfusion research all over the world. According to the WHO, an estimated 108 million blood donations are made worldwide each year. An overwhelming bulk of blood donations are provided to countries that have less than 20% of the global population. With the growing awareness and demand for safe blood transfusion, the development of appropriate testing technologies, kits, reagents, and other things are required, presenting opportunities for developing countries. It has had a favorable impact on the global blood screening market.
Additionally, there has been a rising testing rate for hepatitis B, hepatitis C, and blood diseases which have been recorded at nearly doubled estimates across many countries, thereby generating an ever-increasing requirement for blood testing kits, that has resulted in creating opportunities across the global blood screening market. To motivate volunteers, the WHO set a goal of providing safe access to blood worldwide. Similarly, the Australian Red Cross had recently launched an initiative called "First Blood: Overcoming Donor Fear," which encouraged people to donate blood by providing a toolkit to help first-time donors reduce their anxiety amid donating blood. The programs have been raising voluntary investments and are expected to shift the demand for global blood screening over the forecast period.
The growing frequency of newer pathogens is augmenting the global blood screening market growth
In recent years, there has been an unanticipated increase in the number of novel infections caused by bacteria, fungi, viruses, zoonotic diseases (diseases transmitted by animals), and others. Additionally, various pathogens also attack living organisms through various vectors (virus in most cases). Also, comprehensive research and development are being promoted on a continuous basis for classifying the characteristics of these pathogens, thereby diagnosing their presence in the blood. As a result, there has been a rising demand for screening products around the world, thereby impacting the growth of the global blood screening market.
To prioritize R&D in public health emergency contexts, the WHO has recently been focusing on the high risk of numerous potential pathogens and diseases like COVID-19, Crimean-Congo hemorrhagic fever, Ebola virus disease, and Marburg virus disease, Lassa fever, Middle East respiratory syndrome coronavirus (MERS-CoV), and Severe Acute Respiratory Syndrome (SARS), Nipah and henipaviral diseases, Rift Valley fever, Zika, and others which have been the driving force for the global blood screening market.
Major demand coming from products and services segment in the global blood screening market
The product and services category broadly consists of reagents and kits, NAT reagents and kits, ELISA reagents and kits, other reagents and kits, instruments, outright purchase, rental purchase, and software and services. Among these, the reagents and kits segment accounted for the largest share in the global blood screening market. The factors that have contributed to the sectors’ growth include frequent utilization of reagents and kits, rising transfusion-related screenings, increasing number of blood donations, and the rising prevalence of chronic blood-related diseases. Reagents have also proven to be a more cost-effective measure for customers with a high return on retail investment.
The high cost and reusability of various instruments leveraged can hinder the growth of the global blood screening market. However, the rising adoptions and acceptance rates from the consumers ever since the launch of instruments, have proven beneficial for the growth of the instruments segment that is expected to outweigh the effects of their bottlenecks. For instance, the FDA (Food and Drug Administration) had recently approved Roche’s Cobas Zika donor screening test for the Zika virus that can help prevent the spread of the Zika virus in the U.S. via blood donations.
Blood banks and hospitals are helping driving the global blood screening market
Based on end-users, the global blood screening market is broadly classified into two categories--hospitals and blood banks. Both blood banks and the hospitals follow a similar channel for the procurement of blood and then make it available to a patient in need. People may sometimes willingly donate blood, which is usually accompanied by the issuance of a donor card, which can be used in the future to obtain any form of blood required by the patient. Following COVID-19, all blood banks and hospitals are witnessing immense pressure to supply blood for COVID-19 patients who require safe transfusions. According to the WHO, there has been an increase of 7.8 million blood donations received from unpaid voluntary donors as recorded from 2013 to 2018. Over 79 countries had collected over 90% of their blood supply arising from voluntary unpaid donors as against 56 countries who had collected over 50% of the blood supply from family/replacement or paid donors. As a result, the healthcare industry has strengthened the blood transfusion infrastructure and systems across hospitals and blood banks for safer transfusion activities and clinical use of blood, thereby enabling the growth of the global blood screening market around the world.
Global blood screening Market: Regional Insights
Based on the region, the global blood screening market is divided into North America, Europe, the Asia-Pacific, the Middle East & Africa, and Latin America. Among these regions, the North American region accounted for the largest share in the global blood screening market, followed by Europe. According to the U.S. Department of Health & Human Services, the U.S. boasts over 13.2 million blood donors who contribute to a total of 17.3 million transfused blood product units every year. There are various factors, such as the evolving demand for donated blood, the rising number of blood donations, and the high prevalence of novel pathogens, the presence of high-quality infrastructure across hospitals and clinical laboratories, and the presence of major market players in the region, which have been the driving force for the region to lead the growth of the global blood screening market. Additionally, the Asia Pacific region is expected to witness the fastest growth rate among all regions in the global blood screening market, owing to rising healthcare affordability, increased awareness regarding blood donations, and increased emphasis of major industry players on emerging and developing countries in the region.
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COVID-19 Impact Analysis
The COVID-19 pandemic has resulted in disrupting the lives of all individuals around the world and has created havoc on the global economy as well as the global blood screening market. Many countries were forced to enforce nationwide lockdowns as a result of high infection rates and the negative consequences of collapsing public health systems, affecting supply chains in manufacturing, commerce, and other associated services in particular. The world is presently identifying newer ways for independent laboratories to extend their research. However, curfews and lockdown worldwide have almost halted the blood donations, limited/canceled collection drives, diminished the demand for donated blood, and has adversely affected the growth of the global blood screening market, which is likely to have a negative impact during the forecast period globally. However, since lockdown restrictions are being eased by the governments of different countries, the number of blood donors has increased slightly. Additionally, the rising demand for blood transfusion from the COVID-19 patients to help with their plasma consisting of the antibodies has also proven pivotal in safeguarding the lives of patients confronting severe repercussions from the virus.
The leading players in the global blood screening market are Grifols, F. Hoffmann-La Roche AG, Abbott Laboratories, BioMérieux, Bio-Rad Laboratories, Siemens Healthineers, Danaher Corporation, Thermo Fisher Scientific Inc., Ortho Clinical Diagnostics, Inc., Becton, Dickinson and Company, DiaSorin, GFE, Trinity Biotech, Merck Millipore, GE Healthcare, Perkin Elmer, and Bio-Techne Corporation, and others prominent players. The global blood screening market is moderately fragmented which has resulted in high growth potential for several new entrants, thereby creating a lucrative opportunity. The emergence of new entrants in the global blood screening market has also resulted in healthy competition among long-established service providers in the industry.
In June 2020, Grifols announced that the company had acquired a 10% stake in Bloodbuy (BloodSolutions, LLC), which happens to be a cloud-based marketplace facilitating the purchase and sale of blood components across the U.S. The Bloodbuy platform allows participating healthcare providers to provide blood component needs on an on-demand and recurring basis, ensuring that hospitals can continue to provide the best care to their patients while also allowing blood-collection centers to distribute lifesaving products more widely.
Scope of Report
By Product and Services
- Reagents and Kit
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- NAT Reagents and Kit
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- Enzyme and Polymerases
- Standards and Controls
- Probes and Primes
- Buffers, Nucleotides, and Solutions
- Labeling and Detection Reagents
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- NAT Reagents and Kit
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- Elisa Reagents and Kits
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- Immunosorbents
- Controls
- Conjugates
- Substrates
- Sample Diluents and Wash Solutions
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- Other Reagents and Kits
- Instruments
- Outright Purchase
- Rental purchase
- Software and services
By Technology
- Nucleic Acid Testing
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- Transcription Mediated-Amplification
- Real-Time Polymerase Chain Reaction
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- Enzyme-Linked Immunosorbent Assay
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- Chemiluminescence Immunoassay
- Fluorescent Immunoassay
- Colorimetric Immunoassays
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- Rapid Tests
- Western Blot Assay
- Next-Generation Sequencing
By End-User
- Blood Banks
- Hospitals
By Region
- North America
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- The U.S.
- Canada
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- Europe
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- Germany
- The U.K.
- France
- Italy
- Spain
- Rest of Europe
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- Asia Pacific
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- China
- Japan
- India
- Australia
- Rest of Asia-Pacific
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- Latin America
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- Brazil
- Mexico
- Rest of Latin America
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- The Middle East and Africa
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- South Africa
- Saudi Arabia
- U.A.E.
- Rest of MEA
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