New York, United States , May 30, 2024 (GLOBE NEWSWIRE) -- The Global Blood Screening Market Size is to Grow from USD 2.5 Billion in 2023 to USD 5.1 Billion by 2033, at a Compound Annual Growth Rate (CAGR) of 7.39% during the projected period.
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Blood screening is a test done on a sample of blood to measure the number of certain substances in the blood or to count different types of blood cells. The objective of blood screening is to detect markers of infection to prevent the release of infected blood and blood components for clinical use. Blood screening strategies involving critical processes are designed to assure the safety of blood units. WHO recommends that all blood donations be screened for evidence of infection before the release of blood and its components for clinical and manufacturing use. Microbiological blood screening is done for evaluation of HIV, hepatitis B and C, and syphilis to ensure blood safety for transfusion. The growing number of blood donations and initiatives taken by government and non-government organizations are responsible for driving the global blood screening market. The growing awareness about blood safety is also responsible for driving the market. Further, the growing incidence of accidents and the prevalence of chronic diseases are responsible for driving the market. On the contrary, the high cost of instruments and inadequate infrastructure for blood screening are limiting the market growth. In addition, the growing cases of transfusion-transmissible infections in emerging countries like India, China, and Africa are restraining the global blood screening market.
Browse key industry insights spread across 245 pages with 110 Market data tables and figures & charts from the report on the "Global Blood Screening Market Size, Share, and COVID-19 Impact Analysis, By Product Type (Instruments and Reagents & Kits), By Technology (NAT Technology and Immunoassays), By End-User (Blood Banks And Hospitals), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033."
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The reagents & kits segment dominates the market with the largest revenue share through the forecast period.
Based on product type, the global blood screening market is segmented into instruments and reagents & kits. Among these, the reagents & kits segment dominates the market with the largest revenue share through the forecast period. There is a rising consumption of reagents and kits for blood screening owing to its affordability and portability. The growing demand for reagents and kits due to the increasing number of blood transfusions propels the market in the reagents & kits segment.
The NAT technology segment dominated the global blood screening market in 2023.
Based on the technology, the global blood screening market is segmented into NAT technology and immunoassays. Among these, the NAT technology segment dominated the global blood screening market in 2023. NAT technology is used for microbiological blood screening of transfused blood for evaluating HIV, hepatitis B and C, and syphilis. The growing number of blood donations surges the market demand for blood screening in the NAT technology segment.
The blood banks segment accounted for the largest market share in 2023.
Based on the end-user, the global blood screening market is segmented into blood banks and hospitals. Among these, the blood banks segment accounted for the largest market share in 2023. Blood is majorly donated at blood banks. The growing partnerships between blood centers and clinical laboratories are fueling the market growth of blood screening in the blood banks segments.
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North America dominates the market with the largest market share over the forecast period.
North America dominates the market with the largest market share over the forecast period. The growing prevalence of chronic disease conditions in the region is driving the market. The rising cost of healthcare investments and the presence of well-developed healthcare systems are responsible for driving the market growth of blood screening. Further, the increasing number of blood donation camps with the adoption of the blood screening process and greater patient affordability are propelling the market growth. The rising initiatives for awareness about blood safety among the people are responsible for market expansion in the region.
Asia-Pacific region is expected to grow the fastest during the forecast period. The growing investments in the development of advanced technology are anticipated to enhance the market growth. The growing awareness among the people about blood donations is also responsible for escalating the market demand. The growing adoption of newly launched blood screening instruments and the high costs of blood sampling are propelling the market in the region.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the global blood screening market are Bio-Rad Laboratories, Inc., Danaher (Beckman Coulter, Inc.), DiaSorin S.p.A., Grifols, S.A., Thermo Fisher Scientific, Inc., F. Hoffmann-La Roche, Abbott Laboratories, Inc., Hologic, Becton, Dickinson and Company, QUOTIENT, Ortho Clinical Diagnostics, Alive DX, Siemens AG, Avioq, Inc., and Other Key Players.
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Recent Developments
- In February 2023, Thermo Fisher Scientific launched PCR kits for the infectious disease section in India.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global blood screening market based on the below-mentioned segments:
Global Blood Screening Market, Product Type
- Instruments
- Reagents & Kits
Global Blood Screening Market, Technology
- NAT Technology
- Immunoassays
Global Blood Screening Market, End-User
- Blood Banks
- Hospitals
Global Blood Screening Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of Middle East & Africa
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