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Blood Group Typing Market Banks on Increasing Need for Blood, Blood Products, and Blood Transfusion

04-10-2018 05:34 PM CET | Health & Medicine

Press release from: Transparency Market Research

Blood Group Typing Market Banks on Increasing Need for Blood,

The global blood group typing market is foreseen to garner a massive demand in the foreseeable future owing to certain factors such as the rising demand for blood and blood products. Nonetheless, the market growth could see an escalation on the back of other factors such as increasing prenatal testing which requires blood grouping, mounting count of road mishaps and trauma incidences requiring blood transfusion, and increasing application in forensic sciences. The report offers a close study of such factors, trends, and opportunities that could hold the ability to up the demand in the market.

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Transparency Market Research (TMR) prognosticates the global blood group typing market to be worth a US$2.5 bn by the end of 2022 after progressing from a US$1.9 bn valuation attained in 2017. Between 2017 and 2022, the market is estimated to expand at a 5.6% CAGR.

The international blood group typing market is projected to mark higher growth prospects taking cue from the rising demand for consumables such as blood bank saline, red blood cells reagents, anti-human globulin reagents, and antisera reagents. The consumables segment could gain traction due to the increase in major surgical procedures such as organ transplant and blood donation rates. Developed regions such as North America could receive impetus from the availability of the reimbursement of several surgeries and growing occurrences of chronic disorders. Developing regions such as Asia Pacific are anticipated to center their growth around key markets, in this case, China and India.

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The international blood group typing market is envisioned to be classified according to four categories, viz. product, end user, test, and technique. On the basis of a segmentation by product, the market is anticipated to witness the superiority of consumables, which could take the lead while growing at a 5.4% CAGR. With respect to end user, clinical laboratories, hospitals, blood banks, and others could be key segments of the market. In terms of test, the market could testify the presence of antibody screening, human leukocyte antigen (HLA) typing, ABO blood tests, cross-matching tests, and antigen typing. Techniques such as massively parallel sequencing, assay-based techniques, PCR-based and microarray techniques, and others could make their contribution to the market.

Regionally, North America is predicted to be at the forefront of the international blood group typing market considering its dominant share all through the course of the forecast period. In 2017, it attained a valuation of US$0.6 bn. The Middle East and Africa (MEA) could expand at a lower CAGR of 3.7% while Japan is expected to bag a mere 8.0% of the total revenue share of the market. However, there could be opportunities birthing in lucrative regions such as Europe and Asia Pacific except Japan (APEJ).

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Some of the crucial industry players looking to secure a strong progress in the worldwide blood group typing market are expected to be Bio-Rad Laboratories, Inc., Merck Millipore, Ortho Clinical Diagnostics, Inc., Danaher Corporation, Grifols, S.A., Immucor, Inc., Quotient, Ltd., Bag Health Care GmbH, and Agena Bioscience, Inc.

About Us

Transparency Market Research is a next-generation market intelligence provider, offering fact-based solutions to business leaders, consultants, and strategy professionals.

Our reports are single-point solutions for businesses to grow, evolve, and mature. Our real-time data collection methods along with ability to track more than one million high growth niche products are aligned with your aims. The detailed and proprietary statistical models used by our analysts offer insights for making right decision in the shortest span of time. For organizations that require specific but comprehensive information we offer customized solutions through adhoc reports. These requests are delivered with the perfect combination of right sense of fact-oriented problem solving methodologies and leveraging existing data repositories.

TMR believes that unison of solutions for clients-specific problems with right methodology of research is the key to help enterprises reach right decision.

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