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Global Blood Transfusion Diagnostics Market to Surpass US$ 6 bn by 2025

Press release Description

Albany, New York, October 3, 2017: The global blood transfusion diagnostics market is projected to increase at nearly 8% CAGR during the forecast period 2017-2025, surpassing US$ 6 bn in revenues. These projections are according to a new research reported added to the vast database of Market Research Reports Search Engine (MRRSE). The report titled, “Blood Transfusion Diagnostics Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017-2025” offers a comprehensive overview on the global blood transfusion diagnostics market, analyzing the key factors that are shaping the growth of this market.

According to the report, a number of macroeconomic and microeconomic factors are influencing the global blood transfusion diagnostics market. The number of infections that have to be checked in any blood sample continue to witness an increase owing to the growth in the number of communicable diseases. Every blood sample needs to be checked for a wide number of viruses and bacteria, which necessitates safe and accurate blood testing. These factors have favorably impacted the growth of the global blood transfusion diagnostics market. On the other hand, low blood transfusion rate, combined with ever-evolving regulations regarding safe testing have emerged as challenges for key industry players.

By product type, the report offers market forecast and analysis on kits & reagents, and instruments. According to the report’s analysis, the kits & reagents segment accounts for a leading share owing to their effectiveness in detecting infections in blood samples. In contrast, demand for instruments is waning on account of advancement which has led to a preference for new test types.

Blood grouping and disease screening are the two broad applications of blood screening products. Currently, use of blood transfusion devices for disease screening accounts for a leading revenue share of the market. Increasing emphasis on screening blood products so that the end-user receives blood devoid of any infections has led to an increase in the demand for screening devices. This trend will continue to influence sales during the forecast period. On the other hand, the blood grouping segment is likely to grow at a slower pace, owing to the launch of new testing devices that can group the blood and perform screening simultaneously.

The key end-users of blood transfusion diagnostic products includes hospitals, blood banks, and diagnostic laboratories. Among these, demand for blood transfusion diagnostics products is highest among hospitals, and this trend is likely to continue during the forecast period as well.

North America accounted for the leading revenue share of the blood transfusion diagnostics globally. According to the report, this region accounts for a sizeable share of over 40% of the global market. Increase in cardiac surgeries is one of the key reasons fuelling the demand for blood transfusion diagnostics in North America. Europe and Asia Pacific are also likely to offer growth opportunities to manufacturers during the forecast period.

The key companies profiled in the report include Immucor Inc., Bio-Rad Laboratories, Abbott Laboratories, Inc. Dickinson and Company, Ortho-Clinical Diagnostics, Inc., BAG Health Care GmbH, Becton, Quotient, Ltd., Bio-Rad Laboratories, Inc., DiaSorin S.p.A., Hologic, Inc., and Grifols, S.A.

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