Global Blood Transfusion Diagnostics Market: Snapshot
The demand in the global market for blood transfusion diagnostics is projected to expand at a substantial CAGR of 6.8% during the forecast period of 2017 to 2025. This prosperity of the blood transfusion diagnostics market can be attributed to a number of factors, such as recent technological advancements and automation in blood processing equipment, growing number of blood transfusion procedures, consistent awareness programs by government and healthcare agencies, and the development of WHO recommended national blood policy. On the other hand, low blood donation rate and stringent regulations pertaining to safe blood transfusion are two obstructions faced by this market. The global blood transfusion diagnostics market is estimated to increment from an evaluated worth of US$3.3 bn in 2016 and reach a valuation of US$6.0 bn by the end of the forecast period, which is 2025.
Kits and Reagents In-demand Product Segment
Based on product-type, the global blood transfusion diagnostics market has been segmented into kits & reagents and instruments. The kits & reagents segment accounted for the most prominent share of the global blood transfusion diagnostics market in 2016, which was a reflection of their proven benefits in early recognition of the disease and blood grouping. However, the instruments segment is projected to expand at a significantly slower growth rate during the forecast period with the increasing modernization of the automated tools.
Application-wise, the global market for blood transfusion diagnostics has been bifurcated into blood grouping and disease screening. The disease screening category has been further divided into molecular disease screening and serological disease screening. In 2016, the disease screening segment dominated the global blood transfusion diagnostics market, highlighting the need for procedures that can ensure that all donated blood is safe and recipients get the safest products. However, blood grouping segment is expected to grow at a slower rate during the forecast period owing. This is owing to the introduction of technologically advanced products that can perform blood grouping and disease screening at the same time in one step. The molecular disease screening sub-segment held a major market share in 2016, whereas serological disease screening sub-segment is anticipated to expand at a high CAGR during forecast period. In terms of end-users, the global blood transfusion diagnostics market gains maximum share of demand from hospitals, significantly more than diagnostic laboratories and blood banks.
Asia Pacific Projected for Most Impressive Growth Rate
North America held majority share of 43.1% of the global blood transfusion diagnostics market in 2016, followed by Europe at roundabout quarter of the overall demand. North America is expected to continue its dominance in the market during the forecast period, gaining traction from factors such as rapid rise in the number of cardiac surgical patients and introduction of innovative semi and full automated blood transfusion platforms. Cardiac surgical patients are the major consumers of blood banks. An estimated 20% of all the blood transfusion in North America is associated with cardiac surgical procedures. On the other hand, emerging countries in Asia Pacific, such as China, India, and South Korea, are expected to witness strong growth from 2017 to 2025. This is attributed to high investments made by the major players in the region and growing awareness about transfer of disease during blood transfusion in these countries.
Some of the prominent companies participating in the global blood transfusion diagnostics market are Ortho-Clinical Diagnostics, Inc., Immucor Inc., Bio-Rad Laboratories, Inc. Abbott Laboratories, BAG Health Care GmbH, Becton, Dickinson and Company, Quotient, Ltd., Bio-Rad Laboratories, Inc., DiaSorin S.p.A., Hologic, Inc., and Grifols, S.A.
Global Blood Transfusion Diagnostics Market: Overview
This report provides in-depth region wise and country wise analysis of the blood transfusion diagnostics market. Stakeholders of this report include manufacturers of blood transfusion diagnostics, raw material suppliers, research institutes involve in the research of blood transfusion diagnostics and new players planning to enter the market.
The report provides qualitative and quantitative analysis of the global blood transfusion diagnostics market. Qualitative analysis comprises market dynamics, trends, product overview, and country-level market information. Quantitative analysis includes major players with their reported revenue, market size, and forecast for the global blood transfusion diagnostics market in major countries globally such as the U.S., Canada, Germany, Italy, France, United Kingdom, Spain, Japan, China, Brazil, Mexico, South Africa and Saudi Arabia. Market revenue is provided in terms of US$ Mn from 2015 to 2025 along with the compound annual growth rate (CAGR %) from 2017 to 2025 for all the segments, considering 2016 as the base year. The executive summary of the report provides a snapshot of the blood transfusion diagnostics with information on leading segments, country wise market information with respect to the market size, growth rate (CAGR %), and growth factors.
The market overview section comprises impact factors such as drivers, restraints, and opportunities for the global blood transfusion diagnostics market. These factors would aid the stakeholders in establishing a strong foothold in the global blood transfusion diagnostics market. Furthermore, the market overview section comprises key industry events, product overview, market attractiveness analysis and emerging trend in the blood transfusion diagnostics market. The market attractiveness analysis provides a graphical view comparing the growth and market dynamics in various segments and country wise to identify the most attractive market.
Global Blood Transfusion Diagnostics Market: Segmentation
The blood transfusion diagnostics market has been segmented as by product type, by application, by end-user and by geography. Based on product type, the market has been segmented into kits & reagents and instruments. Based on application, the market has been segmented into blood grouping and disease screening (molecular disease screening and serological disease screening). Based on end-user, the market has been segmented into hospitals, diagnostic laboratories, blood banks and others.
Geographically, the blood transfusion diagnostics market has been categorized into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Moreover, analysis for the major countries comprising U.S. Canada, Germany, Italy, France, U.K., Spain, Rest of Europe, Japan , China, India, Rest of APAC, Brazil, Mexico, Rest of LATAM, South Africa, Saudi Arabia, Rest of MEA have also been provided in the report. A detailed qualitative analysis of the factors responsible for driving and restraining the growth of the blood transfusion diagnostics market in various regions has been provided in this section.
This report also includes various ups and downs about particular country or geography that has impacted the overall market globally. The report provides a detailed outline/blueprint of the blood transfusion diagnostics market globally that will assist new companies in establishing their presence and market players in expanding their market share in the market.
Global Blood Transfusion Diagnostics Market: Competitive Landscape
The report concludes with the company profile section which includes company overview, financial overview, SWOT analysis, product portfolio, business strategies and recent developments for market players. The major players that are profiled in the report include Abbott Laboratories, BAG Health Care GmbH, Becton, Dickinson and Company, Bio-Rad Laboratories, Inc., DiaSorin S.p.A., Grifols, S.A., Hologic, Inc. , Immucor, Inc and others.
The global blood transfusion diagnostics market has been segmented into:
- Global Blood Transfusion Diagnostics Market, by Product Type
- Kits & Reagents
- Global Blood Transfusion Diagnostics Market, by Application
- Blood Grouping
- Disease Screening
- Molecular Disease Screening
- Serological Disease Screening
- Global Blood Transfusion Diagnostics Market, by End-user
- Diagnostic Laboratories
- Blood Banks
- Global Blood Transfusion Diagnostics Market, by Geography
- North America
- Rest of Europe
- Asia Pacific (APAC)
- Rest of APAC
- Latin America (LATAM)
- Rest of LATAM
- Middle East & Africa (MEA)
- South Africa
- Saudi Arabia
- Rest of MEA
- North America