Rockville, Dec. 07, 2022 (GLOBE NEWSWIRE) -- According to a recent report by Fact.MR, a market research and competitive intelligence provider, market of blood transfusion diagnostics is predicted to grow at a CAGR of 7% from USD 4.73 billion in 2022 to USD 8.7 billion in 2032. The increase in CAGR is due to this market's demand and economic expansion, Blood transfusion diagnostics refers to tests conducted on blood and blood components prior to transfusion to patients.
The increasing prevalence of blood-related ailments such as hemophilia, cancer, thrombocytopenia, and others, as well as chronic kidney disease (CKD), has expanded the market for blood products and total blood transfusion. The adoption of innovative molecular platforms by leading companies accelerates the transition from manual tests and equipment to semi-automated and fully automated devices. The introduction of such sophisticated automated systems has aided in the implementation of blood transfusion diagnostics and is anticipated to propel market expansion over the forecast period.
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North America is set to maintain its position as the world leader in blood transfusion diagnostics. A high proportion of voluntary blood donors, as well as the integration of blood transfusion policies for safety and communicable disease testing, are critical growth factors. Germany and the United Kingdom are major contributors to the European blood transfusion diagnostics market. The growing number of surgeries and transplantation methods can be attributed to the industry progress in these nations.
Key Takeaways from the Market Study
- Asia-Pacific is predicted to grow the quickest, with a CAGR of 7.0%
- The North American market is projected to grow at a favorable CAGR of 6.4%
- During the projected period, the blood grouping segment will expand at a CAGR of 5.8%.
- China's National Health Commission registered 15.53 million blood donations in 2020.
- The Europe market is projected to expand at a favorable CAGR of 6.6%
“Chronic diseases, such as cancer, cardiovascular disease, and renal disorders, are typically treated through surgical procedures, which are linked to an increased likelihood of excessive blood loss, and are driving the market growth.” says a Fact.MR analyst.
Blood Transfusion Diagnostics: Market Segmentation
Fact.MR has studied the blood transfusion diagnostics market with detailed segmentation on the basis of product type, application, end-user and geography.
- By Product Type :
- Instruments
- Kits & Reagents
- By Application :
- Blood Grouping
- Disease Screening
- Molecular Disease Screening
- Serological Disease Screening
- By End-user :
- Hospitals
- Diagnostic Laboratories
- Blood Banks
- Plasma Fractionation Companies
- Others
- By Geography :
- North America
- Europe
- Asia Pacific
- Eastern Europe
- Latin America
- Middle East & Africa (MEA)
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Market Competition
Grifols S.A., Bio-Rad Laboratories, Inc., Immucor, Inc., CSL Ltd., Abbott Laboratories, F. Hoffmann-La Roche Ltd, QUOTIENT, Merck KGaA, and DiaSorin S.p.A. are the leading market players in the global blood transfusion diagnostics market. These market participants are focused on implementing technological breakthroughs in testing procedures. Plasma fractionation is an example of such technological advancement.
- In October 2019, Ortho Clinical Diagnostics declared FDA approval for the usage of Ortho Sera on its VISION analyzer.
- EryPharm entered the market in April 2021 with an advanced technology that can produce red blood cells in large quantities and build innovative blood transfusion sources.
- F. Hoffmann-La Roche Ltd and Bio-Rad Laboratories, Inc. signed a global partnership agreement in March 2021 to provide customers with access to Bio-full Rad's line of InteliQ products and Unity QC data management solutions.
Table of Content
1. Preface
1.1. Market Definition and Scope
1.2. Market Segmentation
1.3. Key Research Objectives
1.4. Research Highlights
2. Assumptions and Research Methodology
3. Executive Summary: Global Blood Transfusion Diagnostics Market
4. Market Overview
4.1. Introduction
4.1.1. Product Type Definition
4.1.2. Industry Evolution / Developments
4.2. Overview
4.3. Market Dynamics
4.3.1. Drivers
4.3.2. Restraints
4.3.3. Opportunities
4.4. Global Blood Transfusion Diagnostics Market Analysis and Forecasts, 2020–2025
4.4.1. Market Revenue Projections (US$ Mn)
4.5. Porter’s Five Force Analysis
5. Spend For Plasma Testing For Infectious Diseases (US$ Mn), by Plasma Fractionation Companies, 2015
6. Global Blood Transfusion Diagnostics Market Analysis and Forecasts, by Product Type
6.1. Introduction & Definition
6.2. Key Findings / Developments
6.3. Market Value Forecast, by Product Type, 2020–2025
6.3.1. Instruments
6.3.2. Kits & Reagents
6.4. Market Attractiveness, by Product Type
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More Valuable Insights Available
Fact.MR, in its new offering, presents an unbiased analysis of the chromatography syringes market, presenting historical demand data (2017-2021) and forecast statistics for the period of 2022-2032.
The study divulges essential insights on the market on the basis of, Product Type (Instruments, Kits & Reagents), By Application (Blood Grouping, Molecular Disease Screening), By End-user (Hospitals, Diagnostic Laboratories, Blood Banks), across seven major regions of the world (North America, Latin America, Europe, Asia Pacifc and the Middle East & Africa).
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