Blood Screening Market Overview
The growth of the blood screening market is the result of the rise in the screening of donor and consistent technological advancement by the industry participants. Demand for blood screening tests has been on the rise in recent years owing to the surge in donation, boosted awareness about transfusion-transmitted diseases, and technological advancements within the industry. In addition, governments in several countries are striving to mandate testing of all the donated blood for a number of viruses
According to Market Research Future (MRFR), the global Blood Screening Market is estimated to grow at 8.10% CAGR during the forecast period (2022–2030). Due to the complexity of Coronaviruses, numbers of blood screening tests are increasing. Besides, the immune biomarker test used in the treatment of COVID 19 to identify and quantify the human immune system’s response to the virus influence the growth of the market. Also, increasing numbers of blood donations and blood donors is a significant growth driver of the market.
Technological developments help enhance the sensitivity and efficiency of the tests. Case in point, in 2016, the Procleix Zika virus assay developed by Hologic, Inc., and Grifols was approved by the U.S. F.D.A for screening of donated blood. Moreover, in 2013, the U.S. FDA had given approval to the next-generation sequencing (NGS) technology. This technology is low-cost and faster compared to previous DNA analysis methods.
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KEYPLAYERS
Some of the esteemed vendors highlighted in the report are Abbott Laboratories, Ortho Clinical Diagnostics, Inc., Thermo Fisher Scientific, Inc., F. Hoffmann-La Roche, Beckman Coulter (A Subsidiary of Danaher Corporation), Becton, Dickinson and Company Market Grifols, Biomérieux, Bio-Rad Laboratories, Inc., Siemens Healthineers (A Subsidiary of Siemens AG), to name a few.
Blood Screening Market Segmentation
North America dominates the global blood screening market. Market growth attributes to the early adoption of advanced medical technologies and continuous development by companies operating into drugs. Besides, factors such as large numbers of industry players and well-developed healthcare sectors in the region boost market growth.
Moreover, the increasing occurrence of chronic diseases and the high per capita healthcare expenditures propel the regional market growth. The North American blood screening market is projected to retain its dominance over the global market throughout the assessment period.
Europe stands second in the global blood screening market. The market is driven by the rise in research expenses and the advancement of technology. Moreover, factors such as increasing health concerns and the demand for innovative and effective therapies boost the regional market growth. In Europe, the blood screening market is growing due to the well-spread awareness for blood screening tests and initiatives undertaken by private and public organizations.
Also, the growing prevalence of various hematological disorders and chronic diseases pushes regional market growth. Furthermore, the presence of prominent market players in the region impacts market growth positively. The European blood screening market is estimated to create a substantial revenue pocket during the forecast period.
The Asia pacific blood screening market has emerged as a promising market, globally. Factors such as the increasing number of blood transfusion procedures, increasing government initiatives, and technological advances drive the regional market growth. Moreover, the rising adoption rate of blood screening tests and increasing healthcare expenditure of demographics foster the growth of the market. China and India are hotspots for investment opportunities due to the growing numbers of diagnosis, treatment, and research activities, healthcare modernization, and quality improvisations.
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