The global blood transfusion diagnostics market is expected to witness a CAGR of ~7% during the forecast period.
A comprehensive overview of the global blood transfusion diagnostics market is recently added by UnivDatos Market Insights to its humongous database. The report has been aggregated by collecting informative data from various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the blood transfusion diagnostics market globally. This report offers a detailed analysis of the latest industry developments and trending factors that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates the global market at regional and country levels.
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Market Overview
The global blood transfusion diagnostics market is expected to witness a CAGR of ~7% during the forecast period. Blood transfusion diagnostics are the devices that are used to conduct tests before the transfusion of blood from donor to patient such as blood grouping disease screening. The main types of blood transfusion diagnostics are instruments and kits, reagents, and others. The blood transfusion diagnostic kits are used to collect and transfuse blood. There are some technologies of blood transfusion such as western blot, ELISA, nucleic acid amplification, fluorescence assay, and rapid test that are used for various applications such as blood grouping and disease screening. Furthermore, patients undergoing the surgical process need a blood transfusion to recover the blood lost in the body during the surgical process. Blood transfusion diagnostics are used during the process to monitor and diagnose the blood before transferring it to the patient’s body otherwise it will cause infectious diseases. According to the National Institutes of Health (NIH), approx 310 million surgeries are being performed each year in the U.S.
COVID-19 Impact
The COVID-19 outbreak will impact the blood transfusion diagnostics market in the initial phase of the forecast period. Due to nationwide lockdowns, the blood transfusion diagnostics market registered a certain decline during the pandemic majorly due to the denied blood transfusion diagnostics services and canceled or postponed elective surgeries by medical care providers due to the high risk of COVID-19. However, during the latter half of the pandemic, the demand for blood transfusion diagnostics products is expected to rise drastically worldwide.
Blood transfusion diagnostics market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.
By Product, the market is primarily bifurcated into:
· Reagents & Kits, Instruments
· Reagents & Kits
Based on product type, the blood transfusion diagnostics market is segmented into reagents & kits and instruments. In 2020, The reagents and kits category is anticipated to witness a considerable growth rate over the forecast period owing to the increasing need for donor screening to prevent patients from unsuitable blood and blood products and combat TTIs. Furthermore, the rising prevalence of chronic and infectious diseases such as severe anemia, cancer, hemophilia, kidney disease, liver disease, severe infection, sickle cell disease, and thrombocytopenia and the introduction of technologically advanced products are among the factors driving the demand for reagents & kits.
By Application, the market is primarily bifurcated into:
· Blood Grouping
· Disease Screening
o Serological Disease Screening
o Molecular Disease Screening
Based on application, the blood transfusion diagnostics market has been segmented into blood grouping, and disease screening. In 2020, the Disease Screening category held the largest share and is anticipated to witness a considerable growth rate over the forecast period. The rising incidence of TTI worldwide, increasing safety screening of donated blood, safe transfusion, are some of the key factors driving the market. In addition, numerous countries, including the UAE, South Africa, and the U.S., have made TTI testing a mandatory protocol.
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Global Blood transfusion diagnostics Market Geographical Segmentation Includes:
· North America
Ø United States
Ø Canada
Ø Rest of America
· Europe
Ø Germany
Ø U.K.
Ø France
Ø Spain
Ø Italy
Ø Rest of Europe
· Asia-Pacific
Ø China
Ø India
Ø Japan
Ø Australia
Ø Rest of Asia-Pacific
· Rest of World
For a better understanding of the market, the report provides a detailed analysis of major regions and countries including North America (U.S., Canada, Rest of America); Europe (Germany, U.K., France, Spain, Italy, Rest of Europe); Asia-Pacific (China, India, Japan, Australia, Rest of Asia-Pacific) and Rest of World. In 2020, North America accounted for the largest significant market share, 2020. The large share of this regional segment can be attributed to the growing prevalence of According to Community Blood Center (CBC) data, every day around 43,000 pints of donated blood is used in both the U.S. and Canada. Furthermore, the APAC region accounted for the fastest growth rate during the forecast period. The exponential rise in the geriatric population in countries like China and Japan is a key factor driving the market in the APAC region.
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The major players targeting the market includes:
• Immucor Inc.
• Ortho Clinical Diagnostics
• Abbott
• Bio-Rad Laboratories
• F. Hoffmann-La Roche AG
• Quotient Limited
• BAG Healthcare GmbH
• DiaSorin S.P.A.
• Danaher
• BIOKIT (Werfen)
Competitive Landscape
The degree of competition among prominent companies has been elaborated by analyzing several leading key players operating globally. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the global blood transfusion diagnostics market. The major players have been analyzed by using research methodologies for getting insight views on market competition.
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Key questions resolved through this analytical market research report include:
· What are the latest trends, new patterns, and technological advancements in the global blood transfusion diagnostics market?
· Which factors are influencing the global blood transfusion diagnostics market over the forecast period?
· What are the global challenges, threats, and risks in the global blood transfusion diagnostics market?
· Which factors are propelling and restraining the global blood transfusion diagnostics market?
· What are the demanding global regions of the global blood transfusion diagnostics market?
· What will be the market size in the upcoming years?
· What are the crucial market acquisition strategies and policies applied by the companies?
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