Blood Screening Market: Strong Growth Projections, Notable Drivers, and Emerging Trends

Soaring Demand Drives the Blood Screening Market towards a Potential Value of $3.45 billion by 2025 with a CAGR of 9.6%

What Is The Projected Market Size Of The Global Blood Screening Market And Its Growth Rate?
The blood screening market shows an impressive growth trajectory, attributed to factors such as rising prevalence of transmissible diseases, increased blood donation, and evolving healthcare regulations. Below are the key statistics:
• The market is expected to grow from $3.15 billion in 2024 to $3.45 billion in 2025.
• This growth represents a compound annual growth rate (CAGR) of 9.6%.
• Segmentation of this market includes products such as Reagents And Kits, Instruments, Software And Services; technology like Nucleic Acid Testing, Enzyme-Linked Immunosorbent Assay (ELISA), Rapid Tests, Western Blot Assays, Next-Generation Sequencing (NGS); and use cases in Blood Banks, Diagnostic Centers And Pathology Labs, Hospitals, Clinics, Ambulatory Surgical Centers (ASCs).

What Is Driving The Growth In The Blood Screening Market?
The growth in the blood screening market is primarily influenced by the escalating prevalence of infectious diseases. Blood screening is playing an increasingly important role in diagnosing and preventing the spread of infectious conditions, contributing significantly to market growth.

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Who Are the Key Players Driving Blood Screening Market Growth?
• The role of blood screening in addressing chronic diseases is significant. Blood screening ensures compatibility between donor's and recipient's blood types during transfusions, which is essential for treatment of many chronic diseases.
• These include autoimmune diseases, hematological disorders, and various forms of cancers.
• As per data from the World Health Organization, chronic diseases cause 74% of all deaths globally every year.
• Hence, the increasing prevalence of chronic diseases is propelling the growth of the blood screening market.

What Are The Key Trends In The Blood Screening Market?
Key trends in the blood screening market include:
• An upward trend in blood transfusion requirements.
• Rising prevalence of transmissible diseases.
• Evolving government regulations and standards.
• Increasing blood donations and collection.
• Rising global health concerns and pandemic threats.

What Are The Segments Of The Global Blood Screening Market?
• The primary products in blood screening include reagents and kits, instruments, software, and services.
• The technology used includes nucleic acid testing, enzyme-linked immunosorbent assay (ELISA), rapid tests, western blot assays, and next-generation sequencing (NGS).
• The demand and use spans across blood banks, diagnostic centers and pathology labs, hospitals, clinics, and ambulatory surgical centers (ASCs).

Which Region Leads The Blood Screening Market?
In a notable development, Pfizer Inc., a US-based pharmaceutical and biotechnology corporation, acquired Global Blood Therapeutics, Inc. in 2022. This acquisition aims to bolster Pfizer's portfolio, expand its research and development capabilities, and fortify its market position.
Global Blood Therapeutics, Inc. provides innovative therapies for sickle cell disease and other rare blood disorders.

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What Is Covered In The Blood Screening Market Global Market Report?
- Market Size Analysis: Analyze the Blood Screening Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Blood Screening Market for an effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the market.
- Market Contribution: Evaluate contributions of different segments to the overall Blood Screening Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Blood Screening Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.

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