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Blood Transfusion Diagnostics Market Size Worth $5.8 Billion By 2027 | Grand View Research, Inc.

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Blood Transfusion Diagnostics Market Size Worth $5.8 Billion By 2027 | Grand View Research, Inc.

July 04
21:52 2020
Blood Transfusion Diagnostics Market Size Worth $5.8 Billion By 2027 | Grand View Research, Inc.

Grand View Research, Inc. – Market Research And Consulting.
According to a new report by Grand View Research, Inc., The global blood transfusion diagnostics market size was valued at USD 3.5 billion in 2020 and is projected to expand at a compound annual growth rate (CAGR) of 6.6% from 2020 to 2027. Rising prevalence of chronic diseases and increasing demand for donor screening are some of the major factors driving the market growth.

The global blood transfusion diagnostics market size is expected to reach a value of USD 5.8 billion by 2027 registering a CAGR of 6.6%, according to a new report by Grand View Research, Inc. Growing prevalence of chronic diseases, such as anemia, sickle cell disease, hemophilia, cancer, and kidney disease, is significantly driving the market growth. According to the Sickle Cell Disease Coalition statistics, globally, the number of sickle cell disease cases is projected to increase by around 30% by 2050.According to NCBI statistics, liver diseases accounts for around 2 million deaths each year globally. Blood transfusion is crucial for patients with such chronic diseases, as it allows to exchange the diseased cells with the healthy RBCs without disrupting the blood viscosity.

According to the National Blood Transfusion Service (NBTS) database, a total of 60,236 donor screening was done between 2010 and 2016 at the National Blood Transfusion Center (NBTC), Eritrea. Among them, at least 3.6% of the donated blood showed positive results for TTI and 0.1% showed positive results for multiple infections. Some of the chronic infectious diseases, such as hepatitis B, hepatitis C, HIV, and syphilis, create the need for accurate donor screening, thus further driving the market growth of diagnostics. Transfusion is commonly used in cases of trauma, road accidents, surgeries, childbirth, and gastrointestinal bleeding to replace major blood losses.

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Rising prevalence of chronic diseases, such as severe anemia, cancer, hemophilia, kidney disease, liver disease, severe infection, sickle cell disease, and thrombocytopenia has led to high demand for blood transfusion diagnostics. This is expected to be a high impact rendering driver, thus fostering the market growth. According to the National Heart, Lung, and Blood Institute, anemia is one of the most common blood disorders. Majority of the cases are due to iron deficiency. Thus, there arises the need for RBC transfusions, which is further expected to lead to high demand for transfusion diagnostics.

Blood Transfusion Diagnostics Market Report Highlights

  • Reagents and kits is expected to be the largest as well as the fastest-growing product segment from 2020 to 2027
  • The disease screening segment is projected to register the fastest CAGR over the forecast period
  • According to the WHO, screening of donated blood for detecting transfusion transmissible infections, such as hepatitis B & C and HIV, should be mandatory
  • The hospitals end-use segment is estimated to account for the second largest market share by 2027 on account of rising instances of Pretransfusion therapies being performed in hospitals as the therapy requires cross-matching tests between the donor and recipient
  • Asia Pacific is projected to be the fastest-growing regional market due to rising geriatric population, especially in China and Japan

In addition, there is an increasing risk of Transfusion-Transmitted Infections (TTIs) that has led to high demand for donor screening. To prevent patients from unsuitable blood and blood products and to combat TTIs, the need for donor screening arises. AABB (American Association of Blood Banks) Transfusion Transmitted Diseases Committee is continuously monitoring and assessing the risks of emerging unknown as well as known pathogens.

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Rising cases of road accidents, trauma, and surgeries have also led to significant demand for transfusions, thus, driving the market. According to the CDC, every year an average of around 6 million car accident cases occur in U.S. Globally, around 50 million road traffic injuries occur each year, according to the WHO 2018 report. Moreover, surgeries, such as post-cardiopulmonary bypass, neurosurgery, and posterior eye surgery, also require platelet transfusions.

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The reagents & kits segment led the market in 2020 and accounted for over 65% of the global share due to the repetitive purchase of these products required to screen both donor and recipient samples. In addition, availability of a wide variety of blood grouping, typing, and donor screening reagents, kits, and assays manufactured by both global and local companies is driving the segment growth.

Some of the prominent players in the blood transfusion diagnostics market include:

  • Grifols S.A.
  • Immucor, Inc.
  • Ortho Clinical Diagnostics
  • Abbott Laboratories
  • Bio-Rad Laboratories, Inc.
  • F. Hoffmann-La Roche Ltd.
  • Quotient Ltd.

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Availability of technologically advanced donor screening analyzers has led to lucrative growth of this segment. For instance, MosaiQ by Quotient is a fully automated platform to conduct blood grouping and TTI screening of donor samples. In addition, Roche has a complete portfolio of high throughput analyzers for donor screening. For instance, cobas s 201 system facilitating screening of donated blood with real-time PCR technology, which ensures safe blood supply.

Grand View Research has segmented the global blood transfusion diagnostics market on the basis of product, application, end use:

Blood Transfusion Diagnostics Product Outlook (Revenue, USD Million, 2016 – 2027)

  • Reagents & Kits
  • Instruments
  • Others

Blood Transfusion Diagnostics Application Outlook (Revenue, USD Million, 2016 – 2027)

  • Blood Grouping
  • Disease Screening
    • Serological Disease Screening
    • Molecular Disease Screening

Blood Transfusion Diagnostics End-use Outlook (Revenue, USD Million, 2016 – 2027)

  • Hospitals
  • Blood Banks
  • Diagnostic Laboratories
  • Others

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

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Website: https://www.grandviewresearch.com/industry-analysis/blood-transfusion-diagnostics-market

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