Dublin, Dec. 15, 2021 (GLOBE NEWSWIRE) -- The "Global Blood Screening Market by Technology (Nucleic Acid Amplification, (Real-Time PCR), ELISA (Chemiluminescence immunoassay), Rapid Test, Western Blot), Product (Instrument, Reagent & Kits, Software) & End User (Blood Bank, Hospital) - Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.
The global blood screening market is projected to reach USD 3.8 billion by 2026 from USD 2.5 billion in 2021, at a CAGR of 8.4% during the forecast period.
Growth in this market is mainly driven by the growing number of blood donations across the world, the rising prevalence of infectious diseases, and the rising demand for donated blood.
The reagents & kits segment accounted for the highest growth rate in the blood screening market, by product & service, during the forecast period
The blood screening market is segmented into reagents & kits, instruments, and software & services based on product. In 2020, the reagents & kits segment accounted for the highest growth rate in the blood screening market. Market growth can largely be attributed to the rising number of blood transfusions and blood donations. In addition, technological advancements in blood screening technologies and the increasing number of surgeries are stimulating the growth of this segment.
Blood banks segment accounted for the highest CAGR
Based on end-users, the blood screening market is segmented into blood banks and hospitals. In 2020, the blood banks segment accounted for the highest growth rate. This can be attributed to the growing number of organ transplantation surgeries, and rising awareness about blood safety.
Asia Pacific: The fastest-growing region blood screening market
The global blood screening market is segmented into North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa. The Asia Pacific region is projected to register the highest CAGR during the forecast period. Factors such as the increasing healthcare spending, increasing government efforts to increase awareness about early disease detection, growing per capita income, expansion of private-sector hospitals to rural areas in various APAC countries, the rising geriatric population in several APAC countries (coupled with the increasing prevalence of chronic disorders), and the presence of high-growth markets in the region. The low labour costs and the favourable regulatory environment in this region are also expected to propel market growth.
Premium Insights
- Growing Number of Blood Donations and Increasing Prevalence of Infectious Diseases Drive Market Growth
- Reagents & Kits Segment Will Continue to Dominate the Market in 2026
- Nucleic Acid Test Segment to Dominate the Market During the Forecast Period
- Blood Banks Segment to Continue to Dominate the Market in 2026
- Asia-Pacific to Register the Highest Growth Rate in the Blood Screening Market During the Forecast Period
Market Dynamics
Drivers
- Rising Number of Blood Donations
- Rising Prevalence of Infectious Diseases and Emergence of Newer Pathogens
Restraints
- Alternative Technologies
Opportunities
- Technological Advancements
- Emerging Economies Offer Lucrative Opportunities
Challenges
- High Cost of Blood Screening Technologies
- Usage of Low-Sensitivity Screening
Companies Mentioned
- Abbott Laboratories
- Abnova Corporation
- Becton, Dickinson and Company
- Biomerieux
- Bio-Rad Laboratories
- Bio-Techne Corporation
- Cellabs
- Cepheid
- Danaher Corporation
- Diasorin
- Enzo Biochem, Inc.
- F. Hoffmann-La Roche
- GE Healthcare
- Gfe
- Grifols
- Immucor, Inc.
- J. Mitra & Co. Pvt. Ltd.
- Maccura Biotechnology Co., Ltd.
- Merck KGaA
- Mindray
- Ortho Clinical Diagnostics, Inc.
- Perkinelmer
- Siemens Healthineers
- Thermo Fisher Scientific, Inc.
- Trinity Biotech
For more information about this report visit https://www.researchandmarkets.com/r/bwav1o
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