Blood Transfusion Diagnostics Market 2020 and Forecast 2021-2027

  • TBI268826
  • November 05, 2020
  • Global
  • 135 pages
  • IFF Market Research
                                              

Report Overview: Blood Transfusion Diagnostics Market

The global blood transfusion diagnostics market size was valued at USD 2.4 billion in 2020 and is projected to expand at a compound annual growth rate (CAGR) of 5.5% from 2021 to 2027. Rising prevalence of chronic diseases and increasing demand for donor screening are some of the major factors driving the market growth. 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 market growth. According to the National Heart, Lung, and Blood Institute, anemia is one of the most common blood disorders. The majority of the cases are due to iron deficiency. Thus, there arises the need for RBC transfusions, which is further expected to lead to a high demand for transfusion diagnostics. 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. 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 the 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. Growing awareness about blood donation due to initiatives and campaigns conducted by various governments is another factor boosting the market growth significantly. For instance, on July 9, 2019, an emergency need for eligible donors of all blood types was issued by the American Red Cross, due to which over 450 drives were held during that week leading to around 17,000 donations.

Product Insights: Blood Transfusion Diagnostics Market

The reagents & kits segment led the market in 2019 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, the 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. Availability of technologically advanced donor screening analyzers has led to the 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 the screening of donated blood with real-time PCR technology, which ensures safe blood supply.

Application Insights: Blood Transfusion Diagnostics Market

The disease screening segment held the largest market share of 60% in 2019 and is anticipated to register the fastest growth rate over the forecast period 2021-2027. This can be attributed to a rising number of TTI cases. Blood grouping segment held a significant market share in the past and is projected to expand at a steady CAGR from 202 to 2027. These diagnostic tests are commonly performed in the blood banks. Routine blood typing and cross-matching tests performed before transfusion therapy for identifying the compatibility of donor and recipient blood are some of the factors driving the segment growth.

End-use Insights: Blood Transfusion Diagnostics Market

The blood banks end-use segment led the market in 2019 accounting for a share of over 67% due to a large number of disease screening and blood typing services performed before transfusion therapy. These facilities maintain the safety of blood supply through thorough disease screening while complying with the regulatory standards. Some of the standard tests performed in these end-use settings with the donated blood include blood typing, Rh typing, unexpected RBC antibody screening, and infectious disease screening. More than 10% of hospitalized patients require transfusion. This rate is higher in emergency rooms. It is mandatory for hospitals to screen donated blood for infections, perform compatibility tests of donor and recipient as a pretransfusion therapy and set parameters of hematology components. Thus, the hospitals segment accounted for significant shares in 2019.

Regional Insights: Blood Transfusion Diagnostics Market

North America led the market in 2019 with a share of over 40% and is expected to maintain its leading position during the forecast period. The U.S. accounted for the largest share in North America regional market. Key factors contributing to the region’s dominance include the presence of major companies, easy availability of various assays, and growing awareness among people about blood donations. According to the Community Blood Center data, everyday around 43,000 pints of donated blood is used in both U.S. and Canada. Asia Pacific is expected to record the fastest CAGR during the forecast period due to various awareness campaigns regarding blood donations, especially by the Indian and Australian governments. However, the declining number of donors in Singapore and South Korea has led to less adoption of transfusion diagnostic tools in the region.

Key Companies & Market Share Insights: Blood Transfusion Diagnostics Market

The major companies in the market are focusing on new product development as a key growth strategy to expand their product portfolios and reach the target population. Mergers & acquisitions, commercialization, and geographical expansion are some of the other significant strategies undertaken by market participants to gain a competitive edge over others. For instance, in September 2019, Roche received the U.S. FDA approval for its cobas Babesia test for application on Roche’s cobas 6800/8800 Systems to test individual blood donation. In July 2019, Abbott received the U.S. FDA approval for its Alinity System for blood and plasma screening. Some of the prominent players in the blood transfusion diagnostics market include:

Key companies Profiled: Blood Transfusion Diagnostics Market Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2016 to 2027. Trusted Business Insights has segmented the global blood transfusion diagnostics market report on the basis of product, application, end use, and region:

Product Outlook (Revenue, USD Million, 2016 - 2027)

  • Reagents & Kits
  • Instruments
  • Others

ApplicationOutlook (Revenue, USD Million, 2016 - 2027)

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

End-use Outlook (Revenue, USD Million, 2016 - 2027)

  • Hospitals
  • Blood Banks
  • Diagnostic Laboratories
  • Others

Table of Contents
Chapter 1 Methodology and Scope
  1.1 Market segmentation & scope
  1.2 Market definition
  1.3 Information procurement
      1.3.1 Purchased Database(Statista, FactSet, Bloomberg, SDC Platinum)
      1.3.2 IFF internal database
      1.3.3 Secondary sources & third party perspectives
      1.3.4 Primary Research
  1.4 Information analysis
      1.4.1 Data analysis models
  1.5 Market formulation & data visuali
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