Pune, May 11, 2020 (GLOBE NEWSWIRE) -- The global blood group typing market size is projected to reach USD 2.68 billion by 2027, exhibiting a CAGR of 7.2% during the forecast period. Rising prevalence of anemia worldwide is set to fuel the growth of this market, shares Fortune Business Insights™ in its report, titled “Blood Group Typing Market Size, Share & Industry Analysis, By Product (Instruments, and Reagents & Kits), By Test Type (ABO Tests, Antigen Typing, Antibody Screening, Cross-matching Tests, and HLA Typing), By Techniques (Serology Tests, and Molecular Tests), By End User (Hospital-based Laboratories, and Independent Laboratories & Blood Banks), and Regional Forecast, 2020-2027”. World Health Organization (WHO) data reveals that nearly 1.62 billion people, or 24.8% of the global population, are affected by anemia.
Anemia is the deficiency of healthy red blood cells (RBCs) in the body, which leads to lack of oxygen supply to the organs. As a result, anemic people need to undergo regular blood transfusion exercises to maintain a stable RBC count in the body. Blood transfusion process requires blood typing tests to ensure compatibility between the donor’s and recipient’s blood type. Thus, growing incidence of anemia and the subsequent rising demand for blood transfusion will lead the blood group typing market trends in the foreseeable future.
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The report on this market states that the market value stood at USD 1.53 billion in 2019. Along with this, the report contains the following:
- Careful examination of all the market segments;
- Thorough analysis of the factors driving and shaping the market trends;
- In-depth study of the impact of the COVID-19 outbreak on the market; and
- Comprehensive research into the regional and competitive dynamics of the market.
An Overview of the Impact of COVID-19 on this Market:
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Market Restraint
Fears Arising from Covid-19 Pandemic to Severely Affect Blood Collection Globally
Voluntary blood donations are a prerequisite for patients suffering from chronic blood disorders as a higher stock of blood samples increases the probability of finding matching blood types for such individuals. Unfortunately, the COVID-19 outbreak has led to a drastic decline in voluntary blood donations across the globe, resulting from fears associated with the safety standards of the equipment used and imposition of lockdowns in most countries. Health systems in many countries have begun sounding alarm bells as existing stock of blood has started falling. For instance, the UK’s National Health Service (NHS) reported in March 2020 that voluntary donations fell by 15%. Similarly, in India, the Rotary Blood Bank and the Indian Red Cross Society declared that they were facing a shocking 80% shortfall of blood collection. Such sudden dips in blood donations are likely to have unfathomable effects on the patients suffering from diseases such as thalassemia and hemophilia, which require regular blood transfusions. Since the efficacy of blood typing mechanisms is heavily dependent on blood donations, a fall in these activities will negatively impact the blood group typing market growth.
Regional Analysis
North America to Lead the Market Supported by Rapid Adoption of Advanced Blood Typing Tests
With a market size of USD 572.0 million, North America is set to dominate the blood group typing market share during the forecast period. This is mainly attributable to the high adoption rate of advanced blood typing tests and methods in the region. Additionally, players operating in the region are provided adequate regulatory support, which has created conducive environment for innovation in the healthcare sector. Europe is anticipated to register an impressive CAGR on account of rising demand for safe blood transfusion techniques, while Asia-Pacific is slated to showcase considerable growth owing to increasing prevalence of chronic conditions such as anemia.
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Competitive Landscape
Active Regulatory Approvals for Novel Technologies to Stoke Competitive Spirits
The blood group typing market forecast indicates a period of intense competition in this market owing to the active regulatory support given to novel solutions, thus encouraging innovation among key players. Timely regulatory clearances to blood typing tests will also play an instrumental role in handling the coronavirus pandemic.
Industry Developments:
- January 2019: The Spanish pharmaceutical major, Grifols S.A., secured clearance from the US Food and Drug Administration (FDA) for its fully-automated analyzer Erytra Eflexis. The system is designed to test pre-transfusion compatibility utilizing the DG Gel® technology.
- May 2017: The Turkish health ministry awarded ATC A.S. a contract for HLA typing results for the country’s bone marrow registry. Under the contract, the ministry will leverage MIA FORA® NGS FLEX HLA Typing solution developed by Immunocor and the testing will be done at the HLA typing lab constructed by ATC at Ankara.
List of Key Companies Operating in the Blood Group Typing Market are:
• Agena Bioscience
• Beckman Coulter, Inc.
• Merck KGaA
• Bio-Rad Laboratories, Inc.
• Ortho Clinical Diagnostics
• Immucor, Inc.
• QUOTIENT
• Grifols, S.A.
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Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Technological Advancements in Blood Group Typing Techniques
- Number of Blood Donations, For Key Country/Region,2019
- Number of Blood Transfusion, For Key Country/ Region, 2019
- Key Industry Developments - Mergers, Partnership, Acquisitions
- Global Blood Group Typing Market Analysis, Insights and Forecast, 2016-2027
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Product
- Instruments
- Reagents & Kits
- Market Analysis, Insights and Forecast – By Test Type
- ABO Tests
- Antigen Typing
- Antibody Screening
- Cross-matching Tests
- HLA Typing
- Market Analysis, Insights and Forecast – By Techniques
- Serology Tests
- Molecular Tests
- Market Analysis, Insights and Forecast – By End User
- Hospital-based Laboratories
- Independent Laboratories & Blood Banks
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia pacific
- Latin America
- Middle East & Africa
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Blood Transfusion Diagnostics Market Size, Share And Global Trend By Product Type (Instruments, Kits & Reagents), By Application (Blood Grouping, Disease Screening), By End User (Hospitals Diagnostics Laboratories, Blood Banks, Plasma Fractionation Companies), And Geography Forecast Till 2026
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