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Blood Transfusion Diagnostics Global Market Report 2024 Global Market Analysis, Trends, Growth, Research And Forecast 2033
Blood Transfusion Diagnostics Global Market
According to The Business Research Company's, The blood transfusion diagnostics market size has grown rapidly in recent years. It will grow from $3.98 billion in 2023 to $4.42 billion in 2024 at a compound annual growth rate (CAGR) of 11.1%. The growth in the historic period can be attributed to increasing blood transfusions, emerging pathogens, aging population, increasing demand for rapid blood transfusion diagnostics, rising prevalence of chronic diseases, increased blood demand.
The blood transfusion diagnostics market size is expected to see rapidly grown in the next few years. It will grow to $6.04 billion in 2028 at a compound annual growth rate (CAGR) of 8.1%. The growth in the forecast period can be attributed to rising demand for precision medicine, growing investment in blood transfusion infrastructure, growing demand for molecular blood transfusions, emerging infectious diseases, blood safety concerns. Major trends in the forecast period include advancements in diagnostics, point-of-care testing, automation and robotics, nucleic acid testing (nat), digital integration, expanded pathogen panels, advanced testing technologies.
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Market Drivers and Trends:
Patients undergoing surgical procedures need a blood transfusion to replace the lost blood during the procedure. Blood transfusion diagnostics are used during the procedures to screen the blood before transferring it to the patient and will otherwise increase the incidence of infectious disease. According to an article published in the US National Library of Medicine, National Institutes of Health, approximately 310 million surgeries are being performed each year. This increase in the number of procedures will thereby drive the need for blood transfusion diagnostics.
The growing demand for advanced diagnostic measures and growing prevalence of infectious diseases associated with pathogens such as bacteria & viruses increase the preference for nucleic acid amplification testing (NAAT/NAT) to increase blood safety, improve efficiency and reduce the turnaround time of the results. NAT is a technique that helps detect a particular nucleic acid, virus, or bacteria that acts as a pathogen in blood, tissue, or urine. NAT is highly sensitive and specific for viral nucleic acids and amplifies the region of targeted viral DNA and detects them earlier than the other traditional methods and narrows the period of infectious diseases. For example, XCRP Diagnostic Inc. and Luminex Corporations entered into a licensing agreement of XCR Diagnostic's Xtreme Chain Reaction Nucleic Acid Amplification Technology. In this deal, Luminex got the exclusive rights to use the XCR Diagnostic's NAAT technology for their future molecular diagnostic portfolio.
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• Informed Decision-Making: The reports provide crucial data that support strategic decisions, reducing risks and enhancing business planning.
• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
• Tailored Solutions: The Business Research Company offers customized reports that address specific needs, ensuring stakeholders receive relevant and actionable insights.
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Major Key Players of the Market:
BAG Health Care GmbH; Grifols S.A.; Bio-Rad LaboratoriesInc.; Abbott Laboratories; Immucor Inc.; Ortho Clinical Diagnostics; DiaSorin S.p.A; Siemens Healthineers; Thermo Fisher Scientific Inc.; Beckman Coulter Inc.; Novartis AG; F. Hoffmann-La Roche Ltd.; Quotient Limited; HologicInc; Roche Diagnostics; bioMerieux; Diagast SAS; Fujirebio; Biokit S.A.; QuidelOrtho Corporation; Gen-Probe; Proteomes Sciences plc; Danaher Corporation; Immucor Inc.; Becton Dickinson and Company; Quotient Biodiagnostics; Thermo Fisher Scientific; Sekisui Diagnostics; Sysmex Corporation; Werfen S.A.
Blood Transfusion Diagnostics Market 2024 Key Insights:
• The blood transfusion diagnostics market size will grow to $6.04 billion in 2028 at a compound annual growth rate (CAGR) of 8.1%.
• Emerging Importance Of Blood Transfusion Diagnostics In The Surge Of Surgical Procedures
• Enhancing Blood Safety Through Nucleic Acid Amplification Testing (NAAT) In Infectious Disease Detection
• North America was the largest region in the blood transfusion diagnostics market in 2023
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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