Blood Transfusion Diagnostics Market is driven by growing number of blood transfusion procedures

Gaining a foothold in the global blood transfusion diagnostics market is a tough job. This is because it is highly fragmented on account of the presence of numerous local players. So much so, in 2016 the leading four companies did not even account for one-third of the market share, finds a research study by Transparency Market Research (TMR). Ortho-Clinical Diagnostics, Inc., Bio-Rad Laboratories, Inc., Immucor Inc., BAG Health Care GmbH, Abbott Laboratories, Quotient, Ltd., Becton, Dickinson and Company, Hologic, Inc., and Bio-Rad Laboratories, Inc. are to name the lucky few prominent players that have gained a solid foothold in the market.

A pertinent question that arises now: How are companies sustaining themselves or increasing profit margins in such a fragmented landscape? Well, our report finds that they are banking upon product development through strategic partnerships to keep themselves on the growth path.

Read Report Overview: https://www.transparencymarketresearch.com/blood-transfusion-market.html

The report also uncovers that the market for blood transfusion diagnostics will expand at a steady 6.8% CAGR over the course of the forecast period from 2017 to 2025. By end of 2025, it would likely reach a valuation of US$6.0 bn from US$3.3 bn in 2016, rising at this pace.

Product-wise, the two broad segments of the global blood transfusion diagnostics market are instruments and kits and reagents. Of the two, the segment of kits and reagents is expected to account for a leading share in the market in the near term.

Geographically, Latin America, North America, Europe, Asia Pacific, and the Middle East and Africa are main segments in global market for blood transfusion diagnostics. North America, among them, is a dominant region which will likely hold on to its position in the near future as well because of the increasing number of cardiac surgeries in the region which require a lot of blood. The launch of improved semi and full automated blood transfusion platforms is also expected to stoke the market. The region held about 43% share in 2016.

Request Sample of Report: https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=23963

Rise in Complicated Heart Surgeries Catalyzes Demand

At the forefront of driving growth in the global blood transfusion diagnostics market is the growing requirement for blood transfusion procedures. This is mainly a result of complicated surgical procedures like orthopedic and heart surgeries. Apart from that, rising concerns about transfusion safety and increasing research and development initiatives in the domain of regenerative medicine is also proving beneficial to the market.

Other factors boosting the market for blood transfusion are rapid progress on the technological front and automation in blood processing equipment that brings down the contamination risk pertaining to the collection and handling procedures. Government initiatives to incentivize blood transfusion and donation is also catalyzing demand.

Download Brochure of Report: https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=23963

Stringent Rules Pertaining to Blood Transfusion Procedure Hamper Market Growth

Dampening growth in the market for blood transfusion diagnostics, on the other hand, is the low blood donation rate and strict rules pertaining to safe blood transfusion. In addition, the high upfront capital as well as the steep operational costs are posing a challenge to the market too, especially in price sensitive developing nations of India, Brazil, China, and Indonesia. These nations have not been very quick to adopt latest cutting-edge blood processing technologies. However, continued efforts by governments and NGOs to increase awareness about blood transfusion processes in the aforementioned nations will likely help boost their market.

About us:
Transparency Market Research (TMR) is a U.S.-based provider of syndicated research, customized research, and consulting services. TMR’s global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.

Contact us:
Transparency Market Research
90 State Street,
Suite 700,
Albany
NY - 12207
United States
Tel: +1-518-618-1030
USA - Canada Toll Free 866-552-3453
Email: sales@transparencymarketresearch.com
Website: http://www.transparencymarketresearch.com/

This release was published on openPR.