Current Trends On Blood Screening Market – Global Industry Growth, Covid19 Impact, Size, Share, 2020

Market Key Players:

Some of the key players in the global blood screening market Grifols, F. Hoffmann-La Roche, Abbott Laboratories, Biomérieux, Bio-Rad Laboratories, Inc., Siemens Healthineers (A Subsidiary of Siemens AG), Ortho Clinical Diagnostics, Inc., Thermo Fisher Scientific, Inc., Beckman Coulter (A Subsidiary of Danaher Corporation) and Becton, Dickinson and Company

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Market Highlights:

The Global Blood Screening Market is expected to register a growth of significant CAGR 9.8% during the forecast period (2018–2023).

Blood screening is a medical process in which the blood is examined for the diagnosis of a specific diseased condition is known as blood screening. Exhaustive screening is essential for all donated blood to confirm that recipients receive the safest products. Scientific advances increase the sensitivity and effectiveness of the tests. For example, in August 2016, the Food and Drug Administration (FDA) suggested the testing of all the donated blood in the U.S. and its territories for the Zika virus in order to prevent transmission of this virus through the blood supply. The technology is cheaper and faster than earlier DNA analysis methods. The growth of the market is credited to the rise in demand for blood screening tests due to growing blood donations, increasing awareness about transfusion-transmitted diseases, and technological developments in the industry. Additionally, governments of various countries are in process to mandates testing all donated blood for several viruses.



Segmentation:

blood screening market has been segmented on the devices, service providers, applications, end-users.

On the basis of technology :

The market has been classified as a nucleic acid amplification test (NAT), enzyme-linked immunosorbent assay (ELISA), rapid tests, next-generation sequencing (NGS), western blotting. The nucleic acid amplification test is segmented into transcription-mediated amplification (TMA) and real-time polymerase chain reaction (PCR). The enzyme-linked immunosorbent assay is segmented into ELISA market, by platform and ELISA market, by generation.

On the basis of products and services :

The market has been classified as reagent and kits, enzymes and polymerases, standards and controls, probes and primers, buffers, nucleotides, and solutions, immunosorbents, instruments and software, and services. The reagent and kits have been segmented into NAT reagents & kits, ELISA reagents & kits. The instruments have been segmented in to rental purchases and outright purchases.

On the basis of end-users :

The market has been classified as hospitals, clinics, research institutes, and academic centers, blood banks and others.

Regional Analysis:

The Americas is projected to lead the blood screening market in the forecast period. Increasing healthcare awareness, advancement in technology, medical tourism are some other factors that boost the growth of the market. U.S. blood screening market dominated the industry in 2017, due to the high demand for quality healthcare, vastly developed healthcare infrastructure as well as the growing occurrence of cardiac disease in the region.

Frequencies of blood screening are dramatically increasing over the last few years. Lately, the Food and Drug Administration (FDA) published a guidance document suggesting regulations for laboratory-developed tests. In addition, In February 2015, the U.S. FDA conducted a workshop to discuss the oversight of NGS. All these factors increase awareness, which would further increase the growth of the industry.

The European market is expected to hold the second-largest market share. The market is expected to witness growth owing to the rising patient population, changing lifestyle, and growing elderly population. This is expected to provide favorable backgrounds for the market to grow.

Asia-Pacific is projected to be the fastest-growing region for the global blood screening market in 2018. It is expected to witness profitable growth over the forecast period due to the existence of favorable healthcare schemes drafted by government agencies Other factors such as growing elderly population, rising demand for advanced and high-end technologies, healthcare reforms for infrastructural development and growing healthcare expenditure are some of the key factors that will accelerate the blood screening market growth during the forecast period.

The Middle East and Africa account for the least share due to stringent government policies and low per capita income.

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NOTE: Our team of researchers are studying Covid19 and its impact on various industry verticals and wherever required we will be considering covid19 footprints for a better analysis of markets and industries. Cordially get in touch for more details.

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