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Blood Screening Market Size, Demand, Key Players And Forecast To 2033
Blood Screening Market Size
As per the report, the blood screening market size has grown strongly in recent years. It will grow from $2.84 billion in 2023 to $3.13 billion in 2024 at a compound annual growth rate (CAGR) of 10.0%. The blood screening market size is expected to see rapid growth in the next few years. It will grow to $4.72 billion in 2028 at a compound annual growth rate (CAGR) of 10.9%.
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Blood Screening Market Thrives Amid Rising Infectious Disease Prevalence
The increasing prevalence of infectious diseases is expected to propel the growth of the blood screening market going forward. Blood is commonly analyzed for symptoms of illness by looking for a specific antibody generated against the infectious agent, which aids the medical practitioner in treating infectious diseases and preventing further transmission of infection in patients and disease spread from one to one. For instance, in October 2022, according to the fact sheet published by World Health Organization (WHO), a US-based government agency, approximately 1.6 million persons worldwide passed away from tuberculosis in 2021 (including 187 000 people with HIV). Additionally, in December 2022, according to the fact sheet published by World Health Organization, malaria cases increased from 227 million in 2019 to 241 million, and around 6,27,000 people were predicted to die from malaria in 2020, an increase of 69,000 fatalities over 2019. Therefore, the increase in the prevalence of infectious diseases is driving the growth of the blood screening market.
Automatic Blood Glucose Monitoring Device Streamlines Testing Process
Product innovation is a key trend gaining popularity in the blood screening market. Major companies operating in the market are focused on research and development for product innovations to sustain their position in the market. For instance, in November 2021, Intuity Medical, Inc., a US-based company operating in diabetes management, introduced the POGO system, an automatic blood glucose monitoring device. The Pogo system utilizes 10-test cartridge technology in which lances, collects, and analyses blood from the finger all at once and displays results in a four-second countdown, eliminating the need to carry additional test strips and lancets. It provides a straightforward blood glucose testing experience than a conventional blood glucose meter.
The blood screening market covered in this report is segmented -
1) By Product: Reagents and Kits, Instruments, Software and Services
2) By Technology: Nucleic Acid Testing, Enzyme-Linked Immunosorbent Assay (ELISA), Rapid Tests, Western Blot Assays, Next-Generation Sequencing (NGS)
3) By End User: Blood Banks, Diagnostic Centers and Pathology Labs, Hospitals, Clinics, Ambulatory Surgical Centers (ASCs)
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Major companies operating in the blood screening market report are Abbott Laboratories, Grifols S.A., Becton Dickinson and Company, F. Hoffmann-La Roche AG, bioMérieux S.A., Bio-Rad Laboratories Inc., Thermo Fisher Scientific Inc., Ortho Clinical Diagnostics Inc., Beckman Coulter Inc., Siemens Healthineers AG, GE Healthcare, DiaSorin S.p.A., Merck KGaA, PerkinElmer Inc., Bio-Techne Corporation, Roche Diagnostics GmbH, Danaher Corporation, Sysmex Corporation, Natera Inc., GenMark Diagnostics Inc., QIAGEN N.V., Hologic Inc., Luminex Corporation, Trinity Biotech plc, Fujirebio Inc., OraSure Technologies Inc., Immunetics Inc., Accelerate Diagnostics Inc., Cepheid Inc., T2 Biosystems Inc., Haemonetics Corporation, HTG Molecular Diagnostics Inc., Verax Biomedical Inc. .
Contents of the report:
1. Executive Summary
2. Blood Screening Market Report Structure
3. Blood Screening Market Trends And Strategies
4. Blood Screening Market - Macro Economic Scenario
5. Blood Screening Market Size And Growth
…..
27. Blood Screening Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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