Blood Screening Market grow with a CAGR of 10.9% | Top Key Players SWOT Analysis | Siemens Healthineers, Danaher Corporation, Thermo Fisher Scientific Inc

Report Ocean releases its latest report on the global Blood Screening Market. A combination of information gathered from first-hand sources, qualitative and quantitative assessments of industry analysts, and insights from experts and participants across the value chain is used to calculate the global Blood Screening Market.

The global blood screening market was worth USD 1.9 billion in 2020 and is further projected to reach USD 4.2 billion by 2027, at a CAGR of 10.9% during the forecast period (2021-2027). .

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Growth Drivers

Increased Awareness for Blood Donations

Donation and pre-transfusion research have become more common as a result of efforts by numerous organizations and governments. According to the WHO, approximately 108 million blood donations are collected annually worldwide. Half of these blood donations are received in poor countries with less than 20% of the population. Rising recognition and high demand for safe blood necessitate the development of suitable testing technologies, reagents, kits, and other items to build opportunities for developing countries. Furthermore, the rate of testing for hepatitis B, hepatitis C, and viruses has nearly doubled in many countries, generating an ever-increasing demand for blood testing kits for different diseases, which is creating opportunities in the global blood screening industry. To encourage volunteers, the WHO had also set a goal to provide safe access to blood worldwide. Similarly, the Australian Red Cross launched a project called "First Blood: Overcoming Donor Fear," which encourages people to donate blood by providing a toolkit to help first-time donors overcome their anxiety. These programs raise voluntary investments and are expected to shift the demand over the forecast period.

Growing Frequency of Newer Pathogens

In recent years, there has been an unexpected increase in the number of novel infections caused by bacteria, viruses, fungi, zoonotic diseases (diseases transmitted by animals), and so on. Additionally, various pathogens also attack the living organisms through various vectors (virus in most cases). In addition, comprehensive R&D is being promoted continually to classify the characteristics of pathogens for diagnosing their presence in the blood. A physician will usually recommend a blood test to patients in order to detect any serious diseases or complications in advance. To prioritize R&D in public health emergency contexts, recently, the WHO is constantly focusing on the high risk of various potential pathogens and diseases like COVID-19, Crimean-Congo hemorrhagic fever, Ebola virus disease, and Marburg virus disease, Lassa fever, Middle East respiratory syndrome coronavirus (MERS-CoV), and Severe Acute Respiratory Syndrome (SARS), Nipah and henipaviral diseases, Rift Valley fever, Zika, and so on.

The reports include an in-depth analysis of macroeconomic indicators, market trends, and underlying factors, as well as market attractiveness by segment. The reports include a qualitative impact map of different market factors. COVID-19 (Corona Virus) had an impact on the product industry chain based on upstream and downstream markets, on regions and countries, and the future development of the industry.

The reports on the Global Blood Screening Market provide readers with a better understanding of the market and competitive landscape to support better decision-making. Report contents include an overview of participants, revenue results, sales volume, gross margin, capital investment, and global Blood Screening Market growth rates.

Researchers gather and validate the market size and demand information with market experts. They also examine the geographical distribution of the Blood Screening Market. Top manufacturers, distributors, traders, and dealers use these market studies to gain insights into the industry. It will provide an overview of the product, the market, the driving forces, the risks and opportunities, and the research findings.

Impact Analysis of COVID-19

A detailed study of Covid-19 impacts the Blood Screening Market is provided in the report.

The World Health Organization has declared Covid-19 a global health emergency due to its impact on thousands of people worldwide. The Coronavirus disease, which already affects these groups, had affected Blood Screening Market segments.

While the death toll continues to climb, the economic damage is already evident, making this the world's worst economic shock in decades.

Chaos can lead to several undesirable outcomes, including restaurant closings, flight cancellations, travel restrictions, indoor event venues losing permits, customer confidence eroding, stock markets fluctuating, and citizens becoming anxious.

The report extensively examines the fundamental aspects of the Global Blood Screening Market, including its future prospects and competitive landscape. The Porter's Five Forces analysis of the Blood Screening Market provides insight into the factors influencing its growth. This market study breaks down the Blood Screening Market into segments, regions, and players in order to present an accurate picture of the current market environment. The study also includes macroeconomic and microeconomic analyses. Several graphs and charts appear in the report effectively.

Regional Overview

An analysis of the Blood Screening Market at the country level looks at segments classified as potentially high-growth, countries with the largest market share, and countries with the best growth prospects. Among the regional breakdowns in the Blood Screening Market study are North America (USA, Canada), South America, Asia Pacific (China, Japan, India, Korea), Europe (Germany, UK, France, Italy), Other countries.

Leading Competitors

The leading prominent competitors in the global Blood Screening Market are:

Grifols, F. Hoffmann-La Roche AG, Abbott Laboratories, BioMérieux, Bio-Rad Laboratories, Siemens Healthineers, Danaher Corporation, Thermo Fisher Scientific Inc., Ortho Clinical Diagnostics, Inc., Becton, Dickinson and Company, DiaSorin, GFE, Trinity Biotech, Merck Millipore, GE Healthcare, Perkin Elmer, and Bio-Techne Corporation.

Scope of the Report

The global Blood Screening Market segmentation focuses on:

By Product and Services

Ø  Reagents and Kit

·         NAT Reagents and Kit

§  Enzyme and Polymerases

§  Standards and Controls

§  Probes and Primes

§  Buffers, Nucleotides, and Solutions

§  Labeling and Detection Reagents

Ø  Elisa Reagents and Kits

§  Immunosorbents

§  Controls

§  Conjugates

§  Substrates

§  Sample Diluents and Wash Solutions

Ø  Other Reagents and Kits

Ø  Instruments

Ø  Outright Purchase

Ø  Rental purchase

Ø  Software and services

 By Technology

Ø  Nucleic Acid Testing

§  Transcription Mediated-Amplification

§  Real-Time Polymerase Chain Reaction

Ø  Enzyme-Linked Immunosorbent Assay

§  Chemiluminescence Immunoassay

§  Fluorescent Immunoassay

§  Colorimetric Immunoassays

Ø  Rapid Tests

Ø  Western Blot Assay

Ø  Next-Generation Sequencing

By End-User

Ø  Blood Banks

Ø  Hospitals

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