Home Press Releases Blood Group Typing Market worth $3.0 billion by 2028 , growing at a CAGR of 8.7%

Blood Group Typing Market worth $3.0 billion by 2028 , growing at a CAGR of 8.7%

by Press Room


 


(EMAILWIRE.COM, December 06, 2023 ) The report “Blood Group Typing Market by Product (Consumables, Instruments, Services), Test Type (ABO, Antigen, Antibody, HLA), Technique (Assay-based, PCR, Microarray, Massively Parallel Sequencing), End User (Hospital, Blood Banks), Region – Global Forecast to 2028″, is valued at an estimated USD 2.0 billion in 2023 and is projected to reach USD 3.0 billion by 2028, at a CAGR of 8.7% during the forecast period.

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The high prevalence of cancer significantly impacts the increased demand for donated blood. Cancer patients undergoing chemotherapy or radiation therapy are often more likely to bleed, and they need blood transfusions to replace the lost blood. This will lead to an increased need for donated blood for transfusion, which will require mandatory blood group typing. Furthermore, some blood-related products used in cancer treatment have relatively short shelf lives. This means there is a constant need for fresh blood donations to ensure a sufficient supply of blood-related products to meet the pressing demand. Due to this, the demand has surpassed the supply of blood. Thus, the escalating demand for blood products in cancer care, coupled with their short shelf life, has led to a pressing need for increased blood donations, which is thereby expected to support the growth of the blood group typing consumables and instruments market.

In 2022, the assay-based techniques segment held the largest share of the blood group typing market by technique segment.

The blood group typing market is segmented into assay-based techniques, PCR-based and microarray techniques, massively parallel sequencing, and other techniques based on techniques. The assay-based techniques segment accounted for the largest share of the blood group typing market in 2022. This segment covers the most commonly used methods for blood group typing, such as test-tube methods, slide methods, gel/column centrifugation, and microplate methods. These methods are commonly used in hospitals and blood banks for general blood typing as they are much more convenient and cheaper. As technologies continue to evolve, the efficiency and accuracy of gel column and microplate methods contribute significantly to the safety and success of blood transfusions and transplantation procedures.

The hospitals segment held the largest share of the blood group typing market by end-user segment in 2022.

The global blood group typing market is differentiated into hospitals, blood banks, clinical laboratories, and other end users. In 2022, the hospital segment dominated the blood group typing market. The blood group typing market in hospitals is expected to grow at a high rate owing to the growing requirement for blood during surgical treatments and the increasing number of hospitals. With a burgeoning global population, the need for blood transfusions has escalated significantly, fueling the requirement for accurate and swift blood typing procedures. Hospitals are at the forefront of this surge, as they cater to routine medical care and handle emergencies, where timely and precise blood typing can be a lifesaver. This expanding network of healthcare institutions directly translates to a substantial market share, reflecting the pivotal role hospitals play in safeguarding patient well-being through meticulous blood group typing practices.

North America is the largest regional market for blood group typing market.

The market for blood group typing has been divided into five key geographical regions: North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. In 2022, North America held the predominant portion of the blood group typing market. This can be attributed to the region’s advanced healthcare facilities and substantial healthcare investments, which are pivotal in fueling the requirement for blood group typing. Moreover, the projected rise in organ transplantation procedures is anticipated to contribute to the expansion of the market. Organ transplantation is a life-saving procedure for individuals with end-stage organ failure. Successful transplantation requires a compatible match between the donor and recipient, which includes blood group compatibility. Blood group typing is essential to prevent adverse reactions and organ rejection. As the demand for organ transplants rises, so does the need for precise blood group typing to ensure successful and safe procedures. According to the United Network of Organ Sharing, the number of transplants performed in the US has increased annually, with more than 42,800 organ transplants performed in the US in 2022. This is expected to drive the demand for blood group typing products & services in the region.

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The major players operating in this market are Bio-Rad Laboratories, Inc. (US), QuidelOrtho Corporation (US), Grifols, S.A. (Spain), Thermo Fisher Scientific Inc. (US), Immucor, Inc. (US), Danaher (US), Merck KGaA (Germany), Quotient Limited (Switzerland), Novacyt (France), BAG Health Care GmbH (Germany), Rapid Labs Ltd (UK), Agena Bioscience, Inc. (US), Biorex Diagnostics (UK), HUMAN Gesellschaft für Biochemica und Diagnostica mbH (Germany), Prestige Diagnostics (UK), Span Diagnostics SARL (France), DIALAB GmbH (Austria), Lorne Laboratories Limited (UK), Atlas Medical GmbH (Germany), Torax Biosciences Limited (Northern Ireland), Fortress Diagnostics (UK), AXO Science (France), Maxwin Health Care Pvt. Ltd. (India), Anamol Laboratories Pvt. Ltd. (India), J. Mitra & Co. Pvt. Ltd. (India), and MedSource Ozone Biomedicals Pvt. Ltd. (India).



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