Blood Screening Market To Boom In Near Future By 2025
Worldwide demand for blood screening products and procedures remains on an uptrend, majorly driven by the alarmingly high rate of infectious disease spread. Chronic disease prevalence, and the expansion of high-risk population further elevate the prospects of global blood screening market. In a new ongoing research study, Fairfield Market Research intends to provide a detailed analysis and growth forecast of blood screening market over the next few years. The COVID-19 pandemic came as a crisis, as well as a sea of opportunities for the participants in global blood screening market space, says the report.
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Sales of blood screening reagents and kits grow stronger based on their easier market availability, and ability to deliver reliable, faster, and specific results, especially when it comes to specific detection of transfusion transmissible infections (TTIs). While reagents and kits maintain their primacy, the initial findings also suggest that nucleic acid amplification test (NAT) will continue to be the most sought-after blood screening technology owing to its superior sensitivity, and high specificity for viral nucleic acid. Demand will be notable at hospitals, whereas blood banks are likely to represent the most lucrative end user segment.
Adoption of Blood Screening Upbeat with Advent of Molecular Biology Techniques
A number of tests are generally recommended during pregnancy to be able to identify any potential prenatal abnormalities. With advent of technology enabling this, demand for blood screening procedures and products will also be on the rise. Growing significance of molecular biology techniques like next generation sequencing (NGS), western blot assay, and enzyme linked immunosorbent assay (ELISA) further point to a host of opportunities emerging for blood screening market players. Research highlights stronger adoption projections with the rise of microbiological screening and multiplexing technology for HBV, HCV, HIV, and pathogen reduction. There are certain viral infectious disease agents like hepatitis, HIV-1 and -2, and HTLV that can only be detected through blood screening procedures. This promises a steady stream of demand generation opportunities in blood screening market.
Market in Asia Pacific Develops High Growth Potential
North America continues to be a prime market for a variety of blood screening products, and procedures. The market here will receive an impetus from the supportive regulatory environment, favourable reimbursement scenario, and solid expansion of the diagnostics sector. On the other side, growing demand for blood screening tests across several economies in Asia Pacific is all set to create a fertile ground for market here. While higher chronic disease prevalence, noncommunicable disease spread, and frequent epidemiological crises collectively form a favourable growth environment for market participants, rapid progress of the field of diagnostics across the Asian subcontinent is all set to complement this demand surge in IV bags market.
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Moreover, the market here is projected to benefit from a large number of initiatives like blood donation campaigns, blood transfusion drives, and public education and awareness programmes based around the impact of disease transmission during blood transfusion. Lack of standardisation will however remain a challenge to the blood transfusion landscape in long run, thereby influencing the blood screening space.
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