Press release
How is COVID-19 Pandemic Affecting Blood Screening Market?
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The surging number of blood donations is pushing up the number of screening activities across the world. According to the WHO, across the globe, 117.4 million units of blood are donated every year. Out of the 117.4 million units, 100 million units are donated at 12,700 blood centers located at 170 countries around the world. Because of these factors, the global blood screening market is predicted to grow explosively in the coming years.
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The market had a valuation of $2,402.3 million in 2019 and is predicted to advance at a CAGR of 8.1% from 2020 to 2030. Depending on product type, the blood screening market is categorized into reagents & kits, instruments, and software and services. Amongst these, the reagents & kits category will record the highest growth in the market in the future. This would be because these products are used heavily in the initial stage of the blood screening process.
Geographically, the blood screening market would register the fastest growth in the Asia-Pacific (APAC) region in the upcoming years, as per the estimates of the market research company, P&S Intelligence. This would be because of the existence of several major industry players, the availability of cost-effective labor, and the high incidence of various chronic diseases such as cancer in the region. According to the Global Cancer Observatory (GLOBOCAN), 2,003,789 new cancer cases were recorded in Southeast Asia in 2018.
About P&S Intelligence
P&S Intelligence is a provider of market research and consulting services catering to the market information needs of burgeoning industries across the world. Providing the plinth of market intelligence, P&S as an enterprising research and consulting company, believes in providing thorough landscape analyses on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness.
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