Blood Screening Market is Anticipated to Gain Moderate CAGR by 2028 | Grifols, F. Hoffmann-La Roche, Abbott Laboratories, Biomérieux

Market Overview:

A blood screening is a lab test done on a regularly diluted blood sample taken from the arm with a fingerprick, or through a tiny hypodermic needle. It analyzes the hemoglobin that circulates in the blood and helps determine if there are any build-ups of the material in the blood, either due to infection, medication side effects, or trauma to the arm. There are many different types of blood screening, and some are more common than others, depending on the specific needs. One of the most popular blood screening results from a doctor's examination is a high level of triglycerides in the blood. High levels may indicate that patients have developed heart disease, which is a major cause of morbidity and mortality around the world. Low levels may also indicate that the patient has normal cholesterol levels.

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Key Players in This Report Include 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.

Key Market Drivers:

Increasing cases of cardiovascular issues in the world are the main factor that is expected to drive the growth of the global blood screening market. For instance, according to World Health Organization, cardiovascular diseases are one of the main causes of death in the world, and around 17.9 million individuals died from heart issues in the year 2019. There are different types of blood screening, but all of them use a similar set of equipment and the same procedure which involves inserting a thin, slender needle through the arm and into a small quantity of blood. The reason for doing this is that if there is any mistake with the puncture, or if the amount of blood is too small, then this could cause a slight stop bleeding or a lack of clotting of the blood. It is usually the fault of the doctor, but he or she will perform the blood screening anyway just to be on the safe side. Moreover, increasing product launches by key market players are estimated to propel the growth of the global blood screening market.

Covid-19 Impact Analysis:

The increasing incidence of clinical trials in the world is the main factor that boosted the growth of the global blood screening market, during the COVID-19 pandemic times. For instance, according to the U.S. National Institutes of Health (NIH), around 10,974 ongoing clinical trials and 2.8 million studies are going on currently in the United States.

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Key Takeaways:

• The size of the global blood screening market is assessed at around US$ 1.9 billion in 2020 and increasing at a CAGR of 12.8% is projected to reach around US$ 3.5 billion by the year 2025, owing to the increasing prevalence of the geriatric population in the world. For instance, according to United Nations, in 2019 the percentage of the geriatric population in the world was around 16.5% and in 2020 it became 16.9%.

• North America is expected to hold a major share of the global blood screening market, owing to the increasing prevalence of healthcare centers in the region. For instance, according to American Hospital Association, currently, there are 6090 hospitals in the region.

• The Asia Pacific is estimated to witness high growth in the global blood screening market, owing to the increasing prevalence of diseases such as cardiovascular issues and diabetes in the region, especially in the developing nations. For instance, according to the Diabetic Association Of India, around 77 million individuals in India suffer from diabetes.

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