Blood Transfusion Diagnostic Market Growth & Forecast [2030]

Report Description

The global blood transfusion diagnostic market was valued at USD 3.74 billion in 2020 and is projected to expand at a substantial CAGR during the forecast period, 2021 – 2028. The growth of the market is attributed to the rising incidence of chronic diseases and increased demand for advanced blood donor screening solutions.
 

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Blood transfusion refers to the process of intravenous transfer of blood for medical needs. The process is widely adopted to replace damaged blood components that are mainly caused due to diseases infection, physical injury, or several health disorders. Several blood components such as red blood cells, platelets, white blood cells, clotting factors, and plasma are properly examined to ensure the safety of the blood transfusion. In many cases especially during an emergency or a serious case of major blood loss, blood transfusion is majorly sought as a means to replace the blood loss. These blood transfusions are primarily done in clinical laboratories and hospitals.

Blood transfusion diagnostic involves a process of examining a blood sample using various technology and testing devices. These devices can easily detect deficiency or infection of vectors in the blood. For instance, when hemoglobin levels fall below 100g/L, RBC transfusion is required. To ensure the safety of blood before being transfused, several screening processes are conducted to identify any variety of infectious diseases. Platelet transfusions are often adopted for surgeries such as post-cardiopulmonary bypass, neurosurgery, and posterior eye surgery.

Market Trends, Drivers, Restraints, and Opportunities

• Rising prevalence of chronic diseases such as cancer, kidney disease, and liver disease along with the rising cases of infectious diseases are boosting for a high demand for blood transfusion diagnostics. This is expected to grow the market significantly.
• Increasing number of road accidents, trauma, and operations, which has resulted to a large demand for transfusions. According to the 2018 survey by World Health Organization (WHO), about 50 million people face road traffic accidents globally each year.
• Increasing public participations in various blood donation campaigns due to growing consciousness about the benefits of blood donation for a larger cause are expected to drive the market growth.
• Rising concerns of black marketing of bloods and hesitation towards using syringe during blood testing are key factors that can impede the market growth.
• Ongoing R&D programs to develop innovative technology and diagnostic devices are key opportunities for the market players.

Scope of the Report

The report on the blood transfusion diagnostic market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Blood Transfusion Diagnostic Market Segment Insights

Reagents & kits segment is expected to hold a dominant share
Based on products, the global blood transfusion diagnostic market is divided into reagents & kits, instruments, and others. The reagents & kits segment is expected to account for a key share of the market in the coming years due to the wide demand for these items, which are used to screen both donor and recipient samples. Furthermore, the segment growth is further attributed to the availability of a wide range of blood grouping, typing, and donor screening reagents, kits, and assays generated by both global and local companies. The availability of technologically advanced donor screening analyzers has fueled this segment growth.
 

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Blood grouping segment is expected to represent a key share
On the basis of applications, the market is bifurcated into blood grouping and disease screening. The disease screening segment is further segregated into serological disease screening and molecular disease screening. The disease screening segment is expected to expand at a rapid pace during the forecast period owing to increase in the number of TTI events. On the other hand, the blood grouping segment is expected to grow at a steady CAGR during the forecast period due to wide adoption of the blood diagnostic procedures in the blood banks. In blood banks, these diagnostic tests are routinely performed. Some of the factors driving the segment growth include routine blood typing and cross-matching tests conducted before transfusion therapy to determine the consistency of donor and recipient blood.

Blood banks segment is projected to hold a dominant share
Based on end-users, the global blood transfusion diagnostic market is divided into hospitals, diagnostic laboratories, blood banks, and others. The blood banks segment is projected to hold a key share of the market during the forecast period due to increasing needs for a large number of disease screening and blood typing services. These facilities ensure the protection of the blood supply by conducting rigorous disease screening while adhering to regulatory requirements. Blood typing, Rh typing, unexpected RBC antibody screening, and infectious disease screening are some of the normal tests conducted with donated blood in these end-use environments. Hospitals are required to screen donated blood for infections as well as conduct compatibility checks of the donor and recipient as part of pretransfusion therapy, and set haematology component parameters. As a result, the hospitals segment accounted for a sizable portion of the market in 2020.

Asia Pacific is a fast-growing market
In terms of regions, the market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America dominated the market in 2020, with a share of over 42% of the global market and the trend is projected to continue during the forecast period. The US held a large share of the regional market in North America. The involvement of major corporations, the easy availability of various assays, and growing public knowledge about blood donations are major factors that contribute to the regional market dominance. According to the Community Blood Center, about 43,000 pints of donated blood are used every day in the US and Canada. Due to various blood donation awareness campaigns, especially by several governments such as India and Australia, the market of Asia Pacific is expected to grow at a fast rate during the forecast period.
 

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