Global Blood Transfusion Diagnostics Market Development Outlook and Forecast Prediction during 2017 - 2025

An extensive forecast study, titled “Blood Transfusion Diagnostics Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 - 2025” has been broadcasted to the online repository of Market Research Reports Search Engine (MRRSE). This 278-page precise study encapsulates valuable details about the market current scenario as well as its future projections on a global and regional level. It further intensely aims to provide major insights into the market’s growth throughout the above-mentioned forecast period in terms of volume and revenue (in US$ Mn). Moreover, the research also investigates market expansion in some of the prime regions such as North America, Europe, Asia Pacific, South America, and Middle East & Africa (MEA).

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The demand in the global market for blood transfusion diagnostics is projected to expand at a substantial CAGR of 6.8% during the forecast period of 2017 to 2025. This prosperity of the blood transfusion diagnostics market can be attributed to a number of factors, such as recent technological advancements and automation in blood processing equipment, growing number of blood transfusion procedures, consistent awareness programs by government and healthcare agencies, and the development of WHO recommended national blood policy. On the other hand, low blood donation rate and stringent regulations pertaining to safe blood transfusion are two obstructions faced by this market. The global blood transfusion diagnostics market is estimated to increment from an evaluated worth of US$3.3 bn in 2016 and reach a valuation of US$6.0 bn by the end of the forecast period, which is 2025.

Kits and Reagents In-demand Product Segment

Based on product-type, the global blood transfusion diagnostics market has been segmented into kits & reagents and instruments. The kits & reagents segment accounted for the most prominent share of the global blood transfusion diagnostics market in 2016, which was a reflection of their proven benefits in early recognition of the disease and blood grouping. However, the instruments segment is projected to expand at a significantly slower growth rate during the forecast period with the increasing modernization of the automated tools.

Application-wise, the global market for blood transfusion diagnostics has been bifurcated into blood grouping and disease screening. The disease screening category has been further divided into molecular disease screening and serological disease screening. In 2016, the disease screening segment dominated the global blood transfusion diagnostics market, highlighting the need for procedures that can ensure that all donated blood is safe and recipients get the safest products.  However, blood grouping segment is expected to grow at a slower rate during the forecast period owing. This is owing to the introduction of technologically advanced products that can perform blood grouping and disease screening at the same time in one step. The molecular disease screening sub-segment held a major market share in 2016, whereas serological disease screening sub-segment is anticipated to expand at a high CAGR during forecast period. In terms of end-users, the global blood transfusion diagnostics market gains maximum share of demand from hospitals, significantly more than diagnostic laboratories and blood banks.

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Asia Pacific Projected for Most Impressive Growth Rate

North America held majority share of 43.1% of the global blood transfusion diagnostics market in 2016, followed by Europe at roundabout quarter of the overall demand. North America is expected to continue its dominance in the market during the forecast period, gaining traction from factors such as rapid rise in the number of cardiac surgical patients and introduction of innovative semi and full automated blood transfusion platforms. Cardiac surgical patients are the major consumers of blood banks. An estimated 20% of all the blood transfusion in North America is associated with cardiac surgical procedures. On the other hand, emerging countries in Asia Pacific, such as China, India, and South Korea, are expected to witness strong growth from 2017 to 2025. This is attributed to high investments made by the major players in the region and growing awareness about transfer of disease during blood transfusion in these countries.

Some of the prominent companies participating in the global blood transfusion diagnostics market are Ortho-Clinical Diagnostics, Inc., Immucor Inc., Bio-Rad Laboratories, Inc. Abbott Laboratories, BAG Health Care GmbH, Becton, Dickinson and Company, Quotient, Ltd., Bio-Rad Laboratories, Inc., DiaSorin S.p.A., Hologic, Inc., and Grifols, S.A.

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