Blood Screening Market Overview
According to Market Research Future (MRFR), the global Blood Screening Market is estimated to grow at 8.10% CAGR during the forecast period (2022–2030). Due to the complexity of Coronaviruses, numbers of blood screening tests are increasing. Besides, the immune biomarker test used in the treatment of COVID 19 to identify and quantify the human immune system’s response to the virus influence the growth of the market. Also, increasing numbers of blood donations and blood donors is a significant growth driver of the market.
Additionally, increasing per capita healthcare expenditures and the adoption of nucleic acid test (NAT) for blood screening, boost the growth of the market. The introduction of pathogen reduction technology and the demand of multiplex tests propel the market growth. Conversely, factors such as the high costs and lack of regulations for NAT devices are estimated to restrict the growth of the market. Also, the advent of alternative technologies limits the market growth.
The global blood screening market is a continually growing space. The market growth attributes to the rising blood screening procedures conducted for the diagnosis of various chronic diseases such as HIV, HCV, HBV, malaria, syphilis, and other infectious diseases. Besides, increasing screening tests conducted on the donated blood to lessen the risk of transfusion-transmitted infections (TTIs) foster the market growth excellently. Moreover, raising awareness about the importance of blood tests escalates market growth.
Blood Screening Market Segmentation
The worldwide market for blood screening has been segmented on the technology, products services and end-users.
Depending on the technology, the market has been classified into nucleic acid amplification test (NAT), enzyme-linked immunosorbent assay (ELISA), rapid tests, next-generation sequencing (NGS), western blotting.
With respect to products and services, the market is considered for reagent and kits, enzymes and polymerases, standards and controls, probes and primers, buffers, nucleotides, and solutions, immunosorbents, instruments and software, and services.
The various end users in the market are hospitals, clinics, research institutes and academic centers, blood banks and others.
Blood Screening Market Regional Analysis
In context of region, the worldwide blood screening market is split into the key regions of Europe, Asia Pacific, the Middle East and Africa and North America.
North America, with the biggest share in the global market, benefits from the early adoption of cutting-edge medical technologies and continuous development of latest drug by several companies. The America’s Blood organization says that 1 in 7 people who visit hospitals require blood. The American Red Cross suggests that less than 38 percent of the total regional population can give blood or platelets. Furthermore, the Centers for Disease Control and Prevention (CDC) reveals that, in the United States (U.S.), there are over 9.5 million blood donors and close to 5 million patients that receive blood every year, leading to a total of 14.6 million transfusions annually.
The Europe blood screening market stands with the second largest share, backed by the rise in research expenses and the constant advancement of technology. Along with the decline in human health in the region, the need for sophisticated and effective therapies has added to the strength of the market. The World Health Organization (WHO) says that the average number of donations in the European Region is between 6 and 67.6 per 1000 inhabitants, where Demark boasts of the highest blood donation rate.
The Asia Pacific market can anticipate favorable growth in the future, owing to the availability of optimal treatment facilities paired with the increasing number of government initiatives. Presence of advanced technology, improved adoption rate, and surging healthcare expenditure are other critical factors deciding the market fate. India and China are considered the hotspots for investment opportunities because of the large number of research activities along with the number of partnerships. Of course, growing success rate of diagnosis, healthcare modernization, and quality improvisations have a big hand in the market growth as well.
Middle East Africa has the smallest share in the global market compared to other regions, owing to the substandard healthcare sector, scanty technical knowledge, and poor medical facilities.
Blood Screening Market Players are Abbott Laboratories, Ortho Clinical Diagnostics, Inc., Thermo Fisher Scientific, Inc., F. Hoffmann-La Roche, Beckman Coulter (A Subsidiary of Danaher Corporation), Becton, Dickinson and Company Market Grifols, Biomérieux, Bio-Rad Laboratories, Inc., Siemens Healthineers (A Subsidiary of Siemens AG), to name a few.
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