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Blood Screening Implants Market 2024 Report By Key Companies, Regional Analysis And Forecast 2033
Blood Screening Implants Market
According to The Business Research Company's, 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 growth in the historic period can be attributed to increased blood transfusion requirements, rising prevalence of transmissible diseases, government regulations and standards, increasing blood donations and collection, global health concerns and pandemics..
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%. The growth in the forecast period can be attributed to healthcare infrastructure development, public health awareness programs, advancements in infectious disease diagnostics, global health concerns and pandemic preparedness.. Major trends in the forecast period include rise in infectious diseases, automation and efficiency, rising blood transfusion demands, focus on transfusion safety, research in pathogen detection..
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Market Drivers and Trends:
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.
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.
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• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
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Major Key Players of the Market:
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.
Blood Screening Market 2024 Key Insights:
• The blood screening market will grow to $4.72 billion in 2028 at a compound annual growth rate (CAGR) of 10.9%.
• Blood Screening Market Thrives Amid Rising Infectious Disease Prevalence
• Automatic Blood Glucose Monitoring Device Streamlines Testing Process
• North America was the largest region in the blood screening 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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