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

Blood Transfusion Diagnostics Market: Industry Prospective

The global blood transfusion diagnostics market was worth around USD 4.5 billion in 2021 and is estimated to grow to about USD 7.2 billion by 2028, with a compound annual growth rate (CAGR) of approximately 7.5 percent over the forecast period. The report analyzes the blood transfusion diagnostics market’s drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the blood transfusion diagnostics market.

Blood Transfusion Diagnostics Market: Overview

The term "blood transfusion diagnostics" refers to tests performed on blood and blood components prior to their transfusion to patients. To avoid adverse reactions or infection transmission, every blood unit should be screened for blood group types and diseases. It's an important aspect of transfusion therapy since it gives healthcare workers important information and ensures the compatibility of recipient and donor blood samples.

Blood Transfusion Diagnostics Market: COVID-19 Impact

The Covid-19 outbreak had a moderate impact on the global blood transfusion diagnostics market. The pandemic has caused a drop in voluntary blood donations and has impacted the global supply chain for medical devices. During the crisis, blood banks and hospitals faced a number of serious obstacles, including a scarcity of blood units, a shortage of staff, decreased donor inflow, and public fears regarding transfusion-transmitted COVID-19. On the other hand, the pandemic of COVID-19 has created new potential for the blood transfusion diagnostics sector. In the United States, a set of plasma transfusion trials are underway. The liquid medium is extracted from recovered participants and given to infected patients. Also, the market is expected to grow substantially during the forecast period.

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Blood Transfusion Diagnostics Market: Growth Drivers

Growing need for blood transfusion to foster the growth of the market

Blood transfusion demand is being driven by the growing prevalence of infectious and chronic diseases such as severe thrombocytopenia, sickle cell disease, liver disease, kidney disease, hemophilia, cancer, and anemia. According to WHO, anemia was shown to be prevalent in 29.9% of reproductive-age women globally, equating to nearly half a billion females aged 15 to 49. Non-pregnant females of reproductive age had a prevalence of 29.6%, while pregnant women had a prevalence of 36.5 %. In addition to this, the market is being driven by an increase in the number of delivery cases, surgeries, car accidents, and trauma, all of which have resulted in substantial transfusions. Transfusion-transmitted Infections (TTIs) are becoming more common, resulting in a significant demand for donor screening, thereby fueling the market growth.

Blood Transfusion Diagnostics Market: Restraints

High cost associated with the equipment and test to limit the market growth

For the long-term viability of health services that meet quality standards, it is critical to assess the cost and suitability of diagnosis & treatment approaches. Hospitals have evolved into socioeconomic institutions as medical technology has advanced, and they now account for a considerable portion of healthcare costs. The cost of allogeneic blood transfusion varies depending on the application in therapy expenditures. Purchase, treating transfusion-induced responses, monitoring, disposing of it as medical waste, supplying blood components to relevant clinics, testing & preparing the component suitable for transfusion, and submitting all required information imposes an expensive burden. All such factors coupled with the high cost of kits & reagents may impede the growth of the global blood transfusion diagnostics market.

Blood Transfusion Diagnostics Market: Opportunities

Introduction of advanced diagnostics and kits to drive the market during the forecast period.

With the technological advancements in the healthcare domain, there is the introduction of advanced and reliable diagnostics as well as reagents & kits for blood transfusion. Players in the market are focusing on implementing technical breakthroughs in testing techniques. Plasma fractionation is an example of such technological advancement. These factors are estimated to open numerous opportunities for the growth of the market. Also, factors such as growing demand for molecular-based screening of diseases and launch as well as approval of advanced systems have the potential to boost the market during the forecast period.

Blood Transfusion Diagnostics Market: Challenges

The lack of skilled professionals poses a challenge to the market

The prime challenge for the blood transfusion diagnostics market is the lack of skilled professionals to operate advanced equipment & kits used for tests and screening of the blood. In addition to this, strict regulatory bodies and unawareness of blood donations in underdeveloped countries are also some of the factors that pose a challenge to the growth of the market.

Blood Transfusion Diagnostics Market: Segmentation

The global blood transfusion diagnostics market is divided based on product type, application, end-user, and region. On the basis of product type, the global market is fragmented into kits & reagents, and instruments. By application, the market is split into molecular disease screening and blood grouping. Based on the end-user segment, the market is classified into blood banks, diagnostic laboratories, and hospitals.

Report Scope:

Recent Developments

• In April 2021, ORTHO VISION Max Swift and ORTHO VISION Swift analyzers were introduced by Ortho Clinical Diagnostics. These analyzers provide laboratory networks with increased processing power and enhanced data security.

Blood Transfusion Diagnostics Market: Regional Landscape

North America to dominate the global market during the upcoming period

Among the regions, North America is estimated to hold the largest share of the global blood transfusion diagnostics market during the forecast period. The region's predominance is attributable to well-established healthcare infrastructure, more public knowledge about blood donations, and better acceptance of the blood transfusion method. According to the National Centre for Biotechnology Information, over 15 million blood units are transfused in the United States each year, and about 85 million units are transfused globally. Due to the wide availability of CE-approved instrument assays for Nucleic Acid Test (NAT) and serological test-based procedures in European countries, the market in Europe is expected to develop at a considerable CAGR. The market in the Asia Pacific is anticipated to grow at a rapid rate during the forecast period.

Blood Transfusion Diagnostics Market: Competitive Landscape

Some of the predominant players that are operating in the global blood transfusion diagnostics market include F. Hoffmann-La Roche AG, Bio-Rad Laboratories, Abbott, Ortho Clinical Diagnostics, Immucor, Inc., BIOKIT, Danaher, DiaSorin S.P.A., BAG Healthcare GmbH, and Quotient Limited, among others.

The global blood transfusion diagnostics market is segmented as follows:

By Product Type

• Instruments
• Kits & Reagents

By Application

• Blood Grouping
• Molecular Disease Screening

By End User

• Hospitals
• Diagnostic Laboratories
• Blood Banks

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of The Middle East & Africa