Press release
Global Blood Screening Industry Share, Growth, Development and Demand Forecast Report 2030
The global blood screening market generated a revenue of $2,402.3 million in 2019 and is predicted to advance at a CAGR of 8.1% between 2020 and 2030.The main factors causing the expansion of the market are the implementation of strict regulations and policies regarding contaminated blood, the rising incidence of respiratory, chronic, and infectious diseases, rapid technological advancements in blood screening methods, soaring healthcare expenditure, and the increasing number of blood donors around the world.
Download sample pages of this report: https://www.psmarketresearch.com/market-analysis/blood-screening-market/report-sample
Due to the increasing number of blood contamination cases, the governments of several countries are implementing strict policies for minimizing the possibility of blood contamination. According to the World Health Organization (WHO), as many as 123 countries had regulations regarding blood testing, blood collection, storage, distribution, and processing in 2015. The organization also found that 104 countries had regulations regarding the quality of the transfused blood and the safety of the blood transfusion process.
With the rising public awareness of blood donation and its benefits, the number of blood donors are climbing all over the world. This is, in turn, pushing up the requirement for blood screening activities. As per the WHO, 117.4 million units of blood are donated all over the globe every year. Out of this number, 100 million units of blood are donated at 12,700 blood centers located in 170 countries around the world.
Based on product type, the blood screening market is divided into reagents & kits, software & services, and instruments. Amongst these, the reagents & kits category recorded the highest growth in the market in the past, mainly because of the utilization of these materials during the initial stages of the blood screening process and the abundant availability of several reagents. The rising demand for the reliable and rapid detection of transfusion-transmissible diseases (TTD) is also fueling the category growth.
When disease type is taken into consideration, the blood screening market is classified into human immunodeficiency virus/acquired immune deficiency syndrome (HIV/AIDS), diabetes mellitus, cancer, infectious diseases, respiratory diseases, and hypercholesterolemia. Amongst these, the HIV/AIDS category is predicted to register the highest growth in the market in the future. This is ascribed to the fact that the blood is mandatorily screened and checked for HIV/AIDS before giving it to someone, owing to the high prevalence of the disease across the world.
Browse full report at: https://www.psmarketresearch.com/market-analysis/blood-screening-market
As per the WHO, 37.9 million people around the world were diagnosed with HIV/AIDS in 2018. Geographically, the blood screening market would exhibit the fastest growth in the Asia-Pacific (APAC) region in the upcoming years, as per the estimates of P&S Intelligence, a market research firm based in India. This would be because of the existence of leading market players, the increasing incidence of chronic diseases such as cancer, and the availability of affordable labor in the region.
Hence, it is safe to say that the market would demonstrate huge expansion all over the world in the coming years, mainly because of the rising incidence of cancer, increasing requirement for blood donation, and the soaring implementation of strict blood screening policies in several countries around the world.
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About P&S Intelligence
P&S Intelligence provides market research and consulting services to a vast array of industries across the world. As an enterprising research and consulting company, P&S believes in providing thorough insights on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness. P&S keeps the interest of its clients at heart, which is why the insights we provide are both honest and accurate. Our long list of satisfied clients includes entry-level firms as well as multi-million-dollar businesses and government agencies.
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