Global Blood Transfusion Diagnostics Market Size, Share, Growth Report 2030

Blood Transfusion Diagnostics Market

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

Tests done on blood and blood components before they are transfused into patients are referred to as "blood transfusion diagnostics". Blood group types and diseases should be checked on each blood unit to prevent unpleasant responses and the spread of infections. It's a crucial component of transfusion therapy since it guarantees the compatibility of donor and recipient blood samples and provides crucial information to medical professionals.

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Blood Transfusion Diagnostics Market: COVID-19 Impact

There was a moderate effect of the Covid-19 epidemic on the worldwide market for blood transfusion diagnostics. The global supply chain for medical devices has been affected by the epidemic, which has also resulted in a decline in voluntary blood donations. Serious challenges that blood banks and hospitals had to deal with during the crisis included a lack of blood units, a staffing deficit, a decline in the number of donors, and public concerns about COVID-19 being spread through transfusions. However, the COVID-19 pandemic has opened up new opportunities for the blood transfusion diagnostics industry. A number of plasma transfusion trials are being conducted in the US. Patients who are infected receive the liquid medium after it is removed from recovered participants. Additionally, a significant growth in the market is anticipated throughout the forecast period.

Blood Transfusion Diagnostics Market: Growth Drivers

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

The rising incidence of chronic and infectious disorders such haemophilia, cancer, sickle cell disease, liver disease, renal disease, severe thrombocytopenia, and anaemia is what is driving the need for blood transfusions. WHO reports that anaemia affects 29.9% of women worldwide who are of reproductive age, or almost half a billion women between the ages of 15 and 49. The prevalence for females of reproductive age who were not pregnant was 29.6%, but the rate for pregnant women was 36.5%. In addition, a rise in surgical procedures, automobile crashes, trauma, and birth cases—all of which have required significant transfusions—is propelling the industry. Donor screening is in high demand because to the rising prevalence of transfusion-transmitted infections (TTIs), which is driving market expansion.

Blood Transfusion Diagnostics Market: Restraints

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

Evaluating the cost and suitability of diagnosis and treatment options is essential for the long-term sustainability of health services that fulfil quality requirements. With the advancement of medical technology, hospitals have transformed into socioeconomic establishments that today bear a significant share of the expense of healthcare. The application in therapy expenditures determines the cost of allogeneic blood transfusion. An expensive burden is associated with purchasing, managing transfusion-induced reactions, monitoring, discarding it as medical waste, sending blood components to pertinent clinics, testing and preparing the component acceptable for transfusion, and filing the necessary paperwork. All of these elements, together with the high price of kits and reagents, could prevent the worldwide blood transfusion diagnostics market from expanding.

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Blood Transfusion Diagnostics Market: Opportunities

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

As a result of technological developments in the healthcare industry, sophisticated and trustworthy diagnostics as well as blood transfusion reagents and kits have been made available. Market participants are concentrating on putting new technological developments in testing methodologies into practice. One such example of a technological achievement is plasma fractionation. According to estimates, these variables will present a number of prospects for market expansion. Moreover, elements like the expanding need for molecular-based illness screening and the introduction and endorsement of sophisticated systems might propel the market during the projected decade.

Blood Transfusion Diagnostics Market: Challenges

The lack of skilled professionals poses a challenge to the market

The main obstacle facing the blood transfusion diagnostics market is the shortage of qualified personnel to run the sophisticated test and kit equipment. Moreover, other factors impeding the market's growth include stringent regulatory authorities and a lack of knowledge about blood donations in developing nations.

Blood Transfusion Diagnostics Market: Segmentation

The end-user, geography, product type, and application categories are used to segment the worldwide blood transfusion diagnostics market. The worldwide market is divided into two segments based on the kind of product: instruments and kits reagents. The market is divided into two segments based on application: blood grouping and molecular disease screening. The market is divided into blood banks, diagnostic labs, and hospitals based on the end-user sector.

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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.