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Meticulous Research—leading global market research company published a research report titled “Blood Screening Market by Product (Reagents & Kits, Instruments, Software), Technology (NAAT [Real-time PCR], ELISA [CLIA, FIA, CI], Rapid Tests, Western Blotting, NGS), and End User (Blood Banks, Hospitals, Laboratories)-Global Forecast to 2027”.
According to this latest publication from Meticulous Research, the blood screening market is expected to grow at a CAGR of 6.9% from 2020 to reach $3.56 billion by 2027. The increasing demand for donated blood and blood transfusion-related screenings, the growing prevalence of infectious diseases, the rising geriatric population, and increasing awareness regarding transfusion-transmitted diseases are the major factors driving the growth of the blood screening market. Additionally, emerging markets in developing and underdeveloped countries and the development and adoption of new technologies are some of the factors that are expected to offer significant growth opportunities for the players operating in this market. However, the lack of legislation, regulations, and policies related to blood collection and the development of alternative technologies to replace blood screening are expected to hinder the growth of this market.
The Blood Screening Market: Future Outlook
The blood screening market study presents historical market data in terms of values (2018 and 2019), estimated current data (2020), and forecasts for 2027 by product [reagents & kits (nucleic acid test kits & reagents, enzyme-linked immunosorbent assay kits & reagents, and other kits & reagents), instruments, and software & services], technology [nucleic acid amplification technology (transcription-mediated amplification and real-time polymerase chain reaction), enzyme-linked immunosorbent assay (chemiluminescence Immunoassay, fluorescence immunoassays, and colorimetric immunoassay), rapid tests, western blotting, and next-generation sequencing], end user (blood banks, hospitals, and clinical laboratories), and geography. The study also evaluates industry competitors and analyzes the market at the region and country levels.
Based on product, the reagents & kits segment is estimated to account for the largest share of the market in 2020 due to the reagents’ & kits’ recurrent expense and their wide range of applications in diagnostic tests and assays.
Based on technology, the nucleic acid amplification segment is poised to account for the largest share of the market in 2020. The largest share of this segment is mainly attributed to the high specificity and sensitivity of this technology in detecting genetic material.
Based on end user, the blood banks segment is estimated to account for the largest market share in 2020 due to the increasing number of yearly blood donations and blood transfusion-related screenings.
This research report evaluates major geographies and provides a comprehensive analysis for North America (U.S. and Canada), Europe (Germany, France, U.K., Italy, Spain, and the rest of Europe), Asia-Pacific (Japan, China, India, and the RoAPAC), Latin America, and the Middle East & Africa.
In 2020, North America is projected to dominate the blood screening market, followed by Europe and Asia-Pacific. Factors such as the increasing number of blood donations and transfusion-related screenings, the growing prevalence of infectious diseases, the rising geriatric population, and increasing awareness regarding transfusion-transmitted diseases propel the growth of the blood screening market in North America.
The key players operating in the blood screening market are Abbott Laboratories (U.S.), OriGene Technologies, Inc. (U.S.), BioAim Scientific Inc. (Canada), bioMérieux, Inc. (France), Bio-Rad Laboratories, Inc. (U.S.), Grifols, S.A. (Spain), Immuno-Biological Laboratories Co., Ltd. (Japan), Biovision, Inc. (U.S.), Becton, Dickinson and Company (U.S.), Boster Biological Technology (U.S.), Cusabio Technology LLC (U.S.), Danaher Corporation (U.S.), Demeditec Diagnostics GmbH (Germany), and F. Hoffmann-La Roche Ltd. (Switzerland), among others.
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Key Questions Answered in the Report-
- Which are the high-growth market segments in terms of product, technology, end user, and geography?
- What was the historical market size for blood screening across the globe?
- What are the market forecasts and estimates for the period 2020–2027?
- What are the major drivers, restraints, opportunities, and challenges for the global blood screening market?
- Who are the major players in the global blood screening market?
- How is the competitive landscape, and who are the market leaders in the global blood screening market?
- What are the recent developments in the global blood screening market?
- What are the various strategies adopted by the major players in the global blood screening market?
- What are the geographical trends and high-growth regions/countries?
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