Press release
Blood Screening Market by Product (Reagent & Kits, Instrument, Software), Technology (NAT, (Real-Time PCR), ELISA (Chemiluminescence Immunoassay), Rapid Test, Western Blot), End User (Blood Bank, Hospital), & Region - Global Forecast to 2028
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The global blood screening market is projected to reach USD 3.4 billion by 2028 from USD 2.4 billion in 2023, at a CAGR of 7.2% during the forecast period. Growth in this market is mainly driven by the growing requirement for donated blood, the rising number of blood donations around the world, and the ever-increasing infectious diseases. However high prices of Blood screening instruments and kits along with scarcity in technicians is likely to hamper the growth of Blood screening market.
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"The reagents & kits segment accounted for the highest growth rate in the blood screening market, by product & service, during the forecast period."
The blood screening market is segmented into reagents & kits, instruments, and software & services based on product. In 2022, the reagents & kits segment accounted for the highest growth rate in the blood screening market. Market growth can largely be attributed to rising number of blood transfusions and blood donations. In addition, technological advancements in blood screening technologies and the increasing number of surgeries are stimulating the growth of this segment.
"Blood banks segment accounted for the highest CAGR."
Based on end users, the blood screening market is segmented into blood banks and hospitals. In 2022, the blood banks segment accounted for the highest growth rate. This can be attributed to the growing number of organ transplantation surgeries, and rising awareness about blood safety.
"Asia Pacific: The fastest-growing region blood screening market."
The global blood screening market is divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa. The highest CAGR is anticipated to be recorded over the forecast period in the Asia Pacific region. The rising per capita income, the expansion of private hospitals into rural areas in various APAC countries, the rising geriatric population in several APAC countries (coupled with the rising prevalence of chronic disorders), and the presence of high-growth markets in the region, among other factors, all contribute to rising healthcare spending. The favorable regulatory climate and low labor costs in this region are also anticipated to fuel market growth.
Breakdown of supply-side primary interviews, by company type, designation, and region:
By Company Type: Tier 1 (40%), Tier 2 (30%), and Tier 3 (30%)
By Designation: C-level (27%), Director-level (18%), and Others (55%)
By Region: North America (51%), Europe (21%), Asia- Pacific (18%), Latin America (6%), and Middle East & Africa(4%)
Prominent companies include F. Hoffmann-La Roche Ltd. (Switzerland), Grifols (Spain), Abbott Laboratories, Inc. (US), Bio-Rad Laboratories, Inc. (US), Danaher (Beckman Coulter, Inc.) (US), bioMérieux (France), Hologic (US), Thermo Fisher Scientific, Inc. (US), Becton, Dickinson and Company (US), DiaSorin (Italy), Siemens Healthineers (Germany), QuidelOrtho Corporation (US), Merck KGaA (Germany), Revvity (Earlier known as PerkinElmer Inc.) (US), Bio-Techne Corporation (US), GFE (Germany), Trinity Biotech (Ireland), Mindray (China), Maccura Biotechnology Co., Ltd. (China), Immucor, Inc. (US), Cellabs (Australia), Abnova Corporation (Taiwan), Enzo Biochem, Inc. (US), J. Mitra & Co. Pvt. Ltd. (India) and Tulip Diagnostics (India).
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