Blood Transfusion Diagnostics Market Trend, Share, Growth, Size Analysis and Forecast 2030

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Blood transfusion is a process of receiving blood or blood products from one person to another. Blood transfusions are used for various medical conditions such as loss of blood or any other components of the blood. Blood transfusion diagnostics play an important role in blood transfusion in order to avoid infection to both the receiver and donor. In the past decade, molecular diagnostics has grown into a multibillion-dollar industry thanks to the major advancements in biological chemistries and instrumentation. Robust diagnostic techniques are being adopted, allowing the ability to quantitate the data using real-time PCR and other techniques. Hospitals and diagnostic laboratories are widely using molecular diagnostic techniques in blood transfusion testing and diagnosis. The tenfold growth in demand for diagnostic products and accessories from several end-users in the blood transfusion industry is augmenting the growth of blood transfusion diagnostic market. However, low blood donation rate and stringent regulations related to safe blood transfusion are a few hindrances faced by the global blood transfusion diagnostics market. On the other hand, rapid technological advancement and automation in blood processing equipment, increasing adoption of blood transfusion diagnostics in developing countries, and increasing government awareness programs are expected to offer the future prospects in the forecast period.

On the basis of product type, global blood transfusion diagnostics market is divided into kits and reagents, filtration systems, services, and others. Among these instruments and kits segment was the highest revenue grosser in 2016. Different kind of diagnostics kits and instruments are used in blood transfusion diagnosis operation. The increasing demand for instruments and kits in hospitals and diagnostic labs are expected to poise the growth of kits and reagent segment in the coming years.

On the basis of application, the market is divided into blood grouping and disease screening. The blood grouping dominated the application segment and accounted for the largest share in 2017.

The end-user segment includes hospitals, diagnostic laboratories, blood banks, and plasma fractionation companies. Blood banks are the major source of blood and other products for transfusion and offer quality blood diagnostic services prior to transfusion. Blood banks segment was the leading segment in end-users and held the dominant share in terms of revenue in 2017. The diagnostic laboratories and hospital segments are expected to grow at the highest rate during the forecast period.

Based on the geography, the global blood transfusion diagnostics market is divided into five regions: North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. North America is expected to remain the dominant region over the forecast period. Europe was the second largest market followed by the Asia Pacific. Asia Pacific was the fastest growing market with the highest CAGR during the forecast period. The Middle East and Africa and Latin America are expected to experience a moderate growth in the blood transfusion diagnostics market in the years to come.

Some of the major key players in blood transfusion diagnostics market include F. Hoffmann-La Roche Ltd., Abbott Laboratories, DiaSorin S.p.A., BAG Health Care GmbH, Grifols, S.A., Bio-Rad Laboratories, Inc., Immucor, Inc., Quotient Limited, Hologic, Inc., and Ortho Clinical Diagnostics.