Transfusion Medicine Market Demand And Growth Analysis 2022-28

The global transfusion medicine market size was valued at USD 4.4 billion in 2021. It is expected to reach a value of USD 7.1 billion by 2028, growing at a CAGR of 7.0% during the forecast period from 2022 to 2028. Prior to the transfusion of blood from a donor to a recipient, tests are carried out using blood transfusion diagnostics, such as blood grouping disease screening. Instruments, kits, reagents, and other supplies are the primary categories of blood transfusion diagnostics. Blood collection and transfusion are done using the blood transfusion diagnostic kits. Western blot, ELISA, nucleic acid amplification, fluorescence assay, and fast tests are some of the technologies utilized in blood transfusion diagnostics. These techniques are employed for a variety of purposes, including blood grouping and disease screening. Hospitals, diagnostic labs, blood banks, and plasma fractionation businesses are among the end customers involved.

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Transfusion Medicine Market Growth Factors:
One of the factors driving the demand for blood transfusions is the rising prevalence of chronic and infectious diseases like severe anemia, cancer, hemophilia, kidney, liver, severe infection, sickle cell disease, and thrombocytopenia as well as the introduction of technologically advanced products. Anemia is one of the most prevalent blood-related disorders, affecting over 3 million people in the United States, and the majority of cases are caused by iron deficiency, according to the National Heart, Lung, and Blood Institute. Donor screening is in high demand because of the rising danger of transfusion-transmitted infections (TTIs). Donor screening is becoming more and more important in order to protect patients from unsuitable blood and blood products and fight TTIs. TTI testing has become a required routine in a number of nations, including the UAE, South Africa, and the US. Thus, it is anticipated that a variety of variables, including the increase in TTI cases and the underdiagnosis of affected donors, will significantly influence the transfusion medicine market.

Transfusion Medicine Market Segmentation:
1) By Product Type: Instruments, Accessories.
2) By Application: Apheresis, Autotransfusion, Blood Processing.
3) By End User: Hospitals, Laboratories, Others.

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Transfusion Medicine Market Regional Analysis:
In 2022, North America is expected to hold the largest market share, and predictions indicate that this market will grow rapidly over the coming years. The regional market will expand as a result of an increase in surgical procedures and the geriatric population. Moreover, the market in Asia-Pacific is anticipated to expand quickly due to improvements in the healthcare infrastructures of the rising countries.

Major players working in the transfusion medicine market are Medtronic, Fresenius Kabi, Terumo, MEDICA S.P.A., Haier Biomedical, Haemonetics, LivaNova plc., Lmb Technologie GmbH

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