Blood Transfusion Diagnostics Market: Global Industry Analysis and Forecast 2023-2029

The Blood Transfusion Diagnostics market is expected to reach USD 6.51 billion by 2029, with a CAGR of 7 % between 2022 and 2029.

The research gives a comprehensive perspective of the market by combining qualitative and quantitative data. It examines the global Blood Transfusion Diagnostics Market and provides forecasts for the key segments. It also includes market size and forecast estimates for five key regions: North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA), and South America, for the years 2023 to 2029. The Blood Transfusion Diagnostics Market is further split into countries and markets within each location.To know about the Research Methodology:-Request Free Sample Report
Blood Transfusion Diagnostics Market Dynamics
The increased incidence of disorder-related blood is the primary driver of the blood transfusion market's growth. Over the last decade, the number of people suffering from blood loss as a result of a problem or chronic disease has increased. There are several chronic disorders, such as cancer, haemophilia, and renal disease that cause people to lose blood. Aside from that, serious infections, liver disorders, and other diseases are on the rise, and these diseases result in significant blood loss. Another factor that has increased the need for blood transfusions is anaemia. Anaemia is the most common blood condition, and it is most prevalent in the United States. The prevalence of anaemia is caused by an iron shortage.

Additionally, the rising number of investments in advanced molecular platforms has prompted many manufacturers in the blood transfusion diagnostics market to combine several technologies. In various regions, including North America, Europe, and Asia-Pacific, the number of automated platforms is fast expanding. In order to be practical for applications, blood transfusion diagnostics require great accuracy and throughput during the process. Manufacturers now provide a variety of systems that may provide both partial and integrated automation solutions. The high cost of diagnostic tools, on the other hand, is likely to hamper the growth of the blood transfusion diagnostics market.
Blood Transfusion Diagnostics Market Segment Insight
By Product Type, the reagents and kits segment dominated the blood transfusion diagnostics market with a market share of around 66.25 % in 2022. Reagents and kits are used repeatedly in medical institutions to conveniently and successfully transfuse blood. Reagents and kits are used for a variety of blood grouping, types, and other purposes. Various firms manufacture reagents and kits, which is fueling the segment's growth.

By Application, the disease screening segment dominated the blood transfusion diagnostics market in 2022, with a market share of around 62.91 %. Disease screening has become more important in order to avoid the spread of infections. Blood transfusions are dangerous because they might spread infections throughout the body of the sufferer. To maintain the safety of donated blood, disease screening is essential for transfused blood.
Blood Transfusion Diagnostics Market Regional Insight
In 2022, the North American region dominated the blood transfusion diagnostics market, with a revenue share of 43.21 %. The presence of numerous global and regional manufacturers, the availability of equipment, and strict regulation for blood transfusion procedures are all factors that have contributed to the market's rise in the region.

Asia-Pacific is expected to develop at the quickest rate, with a CAGR of 7.0 %, accounting for about two-fifths of the global blood transfusion diagnostics market. This is due to the high frequency of TTIs in low-income nations, which leads to a higher need for illness screening techniques. However, the number of blood donation centres and donors is steadily increasing. Pre-transfusion testing has also seen an increase in demand.
Report Objectives:
• Landscape analysis of the Blood Transfusion Diagnostics Market
• competitive benchmarking
• Past and current status of the industry with the forecasted market size and trends
• Evaluation of potential key players that include market leaders, followers, and new entrants
• Technology trends
• The potential impact of micro-economic factors on the market
• External and Internal factors affecting the market have been analyzed

The report also helps in understanding the Blood Transfusion Diagnostics Market dynamics, and structure by analyzing the market segments to project the Blood Transfusion Diagnostics Market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Blood Transfusion Diagnostics Market make the report investor’s guide.
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Global Blood Transfusion Diagnostics Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2017 to 2022
Market Size in 2022:
US $ 4.05 Bn.


Forecast Period 2023 to 2029 CAGR:
7%
Market Size in 2029:
US $ 6.51 Bn.


 Segments Covered:
by Product
• Instruments & Kits
• Reagents
• Others


by Application
• Blood Grouping
• Disease Screening


by End-User
• Hospitals
• Diagnostic Laboratories
• Blood Banks
• Plasma Fractionation Companies



Blood Transfusion Diagnostics Market, by Region
• North America (United States, Canada and Mexico)
• Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
• Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
• Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
• South America (Brazil, Argentina Rest of South America)
Blood Transfusion Diagnostics Market Key Players are:
• Grifols
• Thermo Fisher Scientific
• Roche Diagnostics
• bioMerieux
• Bio-Rad Laboratories
• Immucor
• Siemens Healthineers
• Ortho Clinical Diagnostics
• Becton
• Dickinson and Company
• Novartis
• Beckman Coulter
• Ortho Clinical Diagnostics
• Diagast
• Abbott Diagnostics
• BAG healthcare
• DiaSorin
• Fujirebio
• Quidel

Frequently Asked Questions

1. What is the projected market size & growth rate of the Blood Transfusion Diagnostics Market?
Ans- The Blood Transfusion Diagnostics Market was valued at USD 4.05 billion in 2022 and is projected to reach USD 6.51 billion by 2029, growing at a CAGR of 7 % during the forecast period.

2. What is the key driving factor for the growth of the Blood Transfusion Diagnostics Market?
Ans- The increased incidence of disorder-related blood is the primary driver of the blood transfusion market's growth.

3. Which Region accounted for the largest Blood Transfusion Diagnostics Market share?
Ans- In 2022, the North American region dominated the blood transfusion diagnostics market, with a revenue share of 43.21 %.

4. What makes North America a Lucrative Market for Blood Transfusion Diagnostics Market?
Ans- The presence of numerous global and regional manufacturers, the availability of equipment, and strict regulation for blood transfusion procedures are all factors that have contributed to the market's rise in the region.

5. What are the top players operating in the Blood Transfusion Diagnostics Market?
Ans- Grifols, Thermo Fisher Scientific, Roche Diagnostics, bioMerieux, Bio-Rad Laboratories, and Immucor.