Global Blood Transfusion Diagnostics Market was valued at USD 3.78 billion in 2021 and projected to grow at a CAGR of 6.91% during the forecast period 2022-2028 : Greyviews

Pune, India, April 07, 2022 (GLOBE NEWSWIRE) — The market has been studied for the below mentioned-segmentation and regional analysis for North America, Europe, Asia, South America, and Middle East and Africa. These are the key regions where the blood transfusion diagnostics market is operating currently and is predicted to expand in the near future. The manufacturers and suppliers involved in the blood transfusion diagnostics market is present across various countries in the above-mentioned regions.

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The report provides detailed understanding of the market segments which have been formed by combining different prospects such as the product category, application, technology, end-users and others. Apart from this, the key driving factors, restraints, potential growth opportunities and market challenges are also discussed in the below paragraphs.

Global Blood Transfusion Diagnostics Market Size by Product Type (Reagents and Kits, Instruments and Others), Blood Product Type (Platelets, Red Blood Cells, Albumin, Plasma, Immunoglobulin Preparation and Others), Application (Blood Grouping and Disease Screening), End-users (Hospitals, Diagnostics Centers, Blood Banks and Others), Regions, Segmentation, and forecast till 2028.

The blood transfusion is a procedure in which some parts of the person’s blood is put in the patient’s bloodstream through veins. The blood which is transfused is either donated at the time of is stored in the blood banks. Transfusion is a routine procedure in medical institutions. The transfusion is conducted by placing narrow tube inside the vein. Blood transfusion is known to be a life saving procedure which helps in replacing the lost blood in case of surgery or any injuries. Blood transfusion helps in restoring the blood levels in case if the patient is suffering from any such disease which is preventing the body from manufacturing of blood or the component of the blood. There are not much complications known in the transfusion process.

The rising prevalence of disorder related blood is the main reason for the rising demand for blood transfusion market. The number of patients suffering from loss of blood due to certain disorder or chronic diseases are increasing from the past decade. There are many chronic diseases such as cancer, haemophilia and kidney diseases which results in blood loss among the patients. Apart from this, severe infections, liver diseases, etc. are increasing at a faster pace and these diseases also results in the heavy loss of blood. Anaemia is another reason which has propelled demand for blood transfusion processes. Anaemia is found to be the most common blood disorders and it is mostly dominant in USA. The deficiency of iron leads to the prevalence of anaemia.

Further, the growing number of investments in advance molecular platforms has propelled many manufacturers to integrate various technologies in the blood transfusion diagnostics market. The number of automated platforms in increasing rapidly in the many regions including North America, Europe and Asia-Pacific. Blood transfusion diagnostics require high precision and throughput during the process in order to be feasible for the applications. The manufacturers are now providing various systems which can offer partial and integrated automation solutions. However, the high cost of the instruments used in the diagnostics is expected to hinder the growth of blood transfusion diagnostics market. Further, the imposition of stringent regulations for the approval of the instruments used in the market, is a huge challenge for the market.

The significant players operating in the global blood transfusion diagnostics market are Danaher, Immucor Inc., Abbott, Quotient Limited, BIOKIT, Ortho Clinical Diagnostics, F. Hoffmann La Roche AG, DiaSorin S.P.A, BAG Healthcare GmbH and others. To achieve a substantial market share in the worldwide blood transfusion diagnostics market and strengthen their position, manufacturers are pursuing expansion methods such as current developments, mergers and acquisitions, product innovations, collaborations, and partnerships, joint ventures. Among these, Danaher and Abbott are one of the most significant manufacturers and distributors present in the global blood transfusion diagnostics market.

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Segmentation Analysis

The reagents and kits segment led the blood transfusion diagnostics market with a market share of around 66.25% in 2021.

The product type segment includes reagents and kits, instruments and others. Among these, reagents and kits are the dominant type used in the blood transfusion diagnostics market. The reagents and kits are used repetitively in medical facilities in order to transfuse the blood easily and effectively. The reagents and kits are used for variety of the blood grouping, type, etc. The reagents and kits are manufactured by various players which is driving the growth of the segment.

The red blood cells segment led the blood transfusion diagnostics market with a market share of around 26.25% in 2021.

The blood product type segment includes platelets, red blood cells, albumin, plasma, immunoglobulin preparation and others. Out of these, red blood cells are the dominant type used in the blood transfusion diagnostics market. Red blood cells are essential for supplying blood to the whole human body. The molecular blood group diagnostic is one of the most used techniques for transfusion diagnostics of red blood cells. Red blood cells tend to decrease more rapidly in case of chronic diseases which is why most of the patients have to opt transfusion for it.

The disease screening segment led the blood transfusion diagnostics market with a market share of around 62.91% in 2021.

The application segment includes blood grouping and disease screening. The disease screening segment are the dominant type used in the blood transfusion diagnostics market. Disease screening has become important to limit the progression of infections. Blood transfusion can be dangerous as it can cause transmitted infections in the patient’s body. In order to maintain the safety of the donated blood, the disease screening is essential for the transfused blood.

The blood bank segment led the blood transfusion diagnostics market with a market share of around 39.03% in 2021.    

The end-user segment consists of hospitals, diagnostics centers, blood banks and others. Blood banks are present in large number in most of the regions especially North America, Europe and Asia-Pacific. The facilities provide all blood group and type for the purpose of transfusion in patients those who need it. Thus, the requirement of transfusion is essential in the blood bank. The blood banks check the quality of blood through transfusion diagnostics.

Regional Analysis

The regional analysis provides a detailed perception about the key regions and the countries. Some of the key countries analyzed for the blood transfusion diagnostics include US, Canada, Mexico, Germany, France, U.K., Italy, Spain, Russia, China, Japan India, Brazil, Peru, UAE, South Africa and Saudi Arabia.

North America region dominated the blood transfusion diagnostics market and held the 43.21% share of the market revenue in 2021. The growth of the market in the region can be attributed to various factors, such as presence of many global and regional manufacturers, availability of instruments and stringent regulation for blood transfusion processes. However, Asia-Pacific is projected to register higher growth rate during the forecast period of 2022-2028. The increasing demand for blood transfusion coupled with technological developments is the significant factor behind the growing market.

Covid-19 Impact

Covid-19 had a major impact on almost all of the industries such as construction, manufacturing, oil and gas, food and beverages, etc. The demand for blood transfusion diagnostics has decreased during the period owing to the regulations on social distancing and increasing focus on safety and hygiene. In most of the regions, the blood camps were cancelled owing to the virus phobia. Also, the transfusion of blood was mostly prohibited due to the fear of transmission of covid in the patient.

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