Global Blood Group Typing Market is expected to reach worth 3.77 Billion by 2023.

Overview:

In the year 2018, Global Blood Group Typing Market was valued at USD 2.36 Billion. By the year 2023, it is expected to reach USD 3.77 Billion at pace of 9.80% CAGR.

Blood group typing is a method used to classify or identify the blood group in an individual person such as A, B, AB or O by conducting laboratory tests. Blood group typing is essential in organ donation process, transfuse blood, and determine presence of Rh factor on the surface of the red blood cell. This method is also useful during pregnancy as it determine the condition of hemolytic disease in the newborn. There are various techniques and methods to detect the blood group such as, antigen typing, cross-matching tests, antibody screening, human leukocyte antigen (HLA) typing and ABO blood tests.

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Underlying Causes

The growth for Blood Group Typing market is driven due to factors like increasing rate of blood donation, growing surgical procedures like organ transplantation across the globe, growing surgical procedures like organ transplantation, increasing number of road accidents and other injuries, rising demand for blood. In addition, advancement in technology has led to improved detection methods, introduction of advanced techniques, and improving healthcare facilities are expected to drive the Blood group typing market. However, stringent regulations, lack of awareness, and lack of skilled professionals are expected to hinder the market growth during the forecast period.

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Geographic Segmentation:

Based on geography the Blood Group Typing market has been primarily divided into Asia Pacific, Middle East and Africa, North America and Latin America. North America holds the largest market share in the global blood group typing market followed by Europe due to favorable reimbursement policies, increasing prevalence of chronic diseases, advancement of technologies, and well-established healthcare infrastructures are the important factors in this region. Asia-Pacific regions like India, and China are rapidly growing due to increasing number of road accidents, rising demand for blood, growing number of aging population, rising prevalence of chronic diseases, increasing healthcare expenditures and improving healthcare facilities are expected to contribute high growth rate for blood group typing market during the forecast period.

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Key Players:

Leading companies for Global Blood Group Typing market are Bio-Rad Laboratories, Inc., Grifols, S.A., Immucor Inc., Ortho Clinical Diagnostics, Inc., Quotient, Ltd., Novacyt Group, BAG Healthcare GmbH, Rapid Labs, Day medical SA, DIAGAST, and AXO Science.

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This release was published on openPR.