Transfusion Diagnostics Market Regulations and Competitive Landscape Outlook to 2024

Blood transfusion is a process of receiving blood products or blood into the circulatory system intravenously. Blood transfusion is used in different medical conditions for replacement of lost component in the blood. Earlier blood transfusion included whole blood; however, modern medical methods can use only a component of blood for transfusion. Blood transfusion is among the most common procedures used for patients in hospitals. Hence, it becomes imperative that clinicians have knowledge about the appropriate administration of blood products, along with the symptoms, signs, and transfusion reaction management. Different blood products that can be transfused in the human body are red blood cells, platelets, plasma, albumin, and immunoglobulin preparations.

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The blood transfusion process is as follows: blood sample is taken and sent to hospital laboratory where tests are performed to ensure that the donor blood is compatible with patient's blood. This process is called cross-matching. Risks associated with blood transfusion are viral infections, allergic reactions, fever, hemolytic reactions, and iron overload. Everything possible should be done to reduce these risks during blood transfusion. Hence, before blood transfusion, several steps are taken to ensure the quality of blood products, compatibility, and safety to the recipient. A definite diagnosis is required for both the donor and recipient blood. Red blood cells are the most common blood products to be transfused. One of the transfusion diagnostics incudes molecular blood group diagnostics. Molecular blood group diagnostic enables safer blood preservation and on-demand supply for patients who have antibodies against clinically relevant, rare or weak antigens. Blood group serology is another blood transfusion diagnostic used to avoid side effects caused due to administration of incorrect blood preservatives or immunizations.

Based on type, the transfusion diagnostics market can be segmented into instruments, reagents and others. In terms of application, the market can be segmented into blood grouping, disease screening, and others. Based on distribution channel, the market can be segmented into hospitals, laboratories, blood banks, plasma fractionation facilities, military blood banks, and others. Blood banks and hospitals are the major segments of the transfusion diagnostics market.

Increasing prevalence of diseases which require complete blood transfusion is one of the major drivers of the transfusion diagnostics market. Rising number of accidents due to road rash or other reasons which lead to blood loss is also likely to propel the market. Another factor driving the transfusion diagnostics market is the rising emergency situations for blood transfusions during surgical blood loss. Rising number of diseases due to improper blood transfusion without diagnosis of blood also fuels the growth of the transfusion diagnostics market. Alternative treatments and better techniques for blood transfusion are the major restraints of the transfusion diagnostics market. More advanced, efficient, and reliable transfusion diagnostic techniques are expected to create significant opportunities in the market.

Geographically, the transfusion diagnostics market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America accounted for the largest share of the blood transfusion diagnostics market owing to increasing health care awareness and technological advancement in the region. Europe is the second largest market for blood transfusion diagnostics due to large geriatric population in the region. Asia Pacific is the fastest growing market for blood transfusion diagnostics due to increasing adoption of improved health care technologies, emerging health care infrastructure, and rising accidents, diseases, and other emergency situations which require blood transfusion.

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Major players in the blood transfusion diagnostics market include Ortho Clinical Diagnostics, Beckman Coulter, Quotient Limited, Novartis AG, Abbott Diagnostics, Diagast, Becton, Dickinson and Company, Immucor, Inc., BAG Health Care, DiaSorin, Fujirebio Diagnostics, Inc., Grifols, S.A., Hologic/Gen-Probe, Biokit, Bio-Rad Laboratories, and Quidel Corporation.

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