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I AgreeAnalysis of Blood Transfusion Diagnostics Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
The global blood transfusion diagnostics market size was valued at US$ 4.42 Billion in 2021 and is expected to expand at a compound annual growth rate CAGR of 7% from 2022-2032.
The increase in growth is due to this market's demand and economic expansion, Blood transfusion diagnostics refers to tests conducted on blood and blood components prior to transfusion to patients.
Report Attribute |
Details |
Anticipated Base Year Value (2021) |
US$ 4.42 Billion |
Expected Market Value (2022) |
US$ 4.73 Billion |
Projected Forecast Value (2032) |
US$ 8.7 Billion |
Global Growth Rate (2022-2032) |
7% CAGR |
Expected Market CAGR of the U.S. Market (2032) |
6.4% |
Anticipated Market CAGR of Europe (2022-2032) |
6.6% |
Major Blood Transfusion Diagnostic Service Providers |
|
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For a few years, there has been an escalation in the demand for blood transfusions. This is due to an increase in the number of patients undergoing surgical procedures for chronic diseases such as aplastic anemia, sickle cell anemia, and leukemia. This has stimulated key players in blood banks and hospitals to concentrate on research and development for advanced instruments, assays, and kits.
The recent COVID-19 pandemic has provided opportunities for growth in the blood transfusion diagnostics market. In the United States, a series of plasma transfusion trials are being performed. The liquid medium is extracted from recovered patients and introduced to contaminated ones by practitioners.
This "convalescent plasma" is expected to enhance the immunity of cancer survivors. As a result of these trends, the global blood transfusion diagnostics market is anticipated to expand strongly during the forecast timeframe.
Growing Demand for Blood and Blood Components to Generate Sales
The increasing prevalence of blood-related ailments such as hemophilia, cancer, thrombocytopenia, and others, as well as chronic kidney disease (CKD), has expanded the market for blood products and total blood transfusion.
Furthermore, the growing number of patients affected by anemia, which necessitates red blood cell transfusion for diagnosis, is predicted to push significant growth for blood transfusion diagnostics. As per World Health Organization (WHO) estimates, anemia affects approximately 1.62 billion individuals worldwide.
This, combined with increased awareness about blood safety from viral infections through various programs in both industrialized and developing countries, is driving up the consumption of blood screening tests and other diagnostic tools.
Transition to Automated Molecular Platforms to Boost Overall Growth
The adoption of innovative molecular platforms by leading companies accelerates the transition from manual tests and equipment to semi-automated and fully automated devices. These automated portals have been critical in sensing Transfusion Transmissible Infections (TTIs) in blood samples and can accurately eradicate human error during the transfusion procedure.
Thus, the introduction of such sophisticated automated systems has aided in the implementation of blood transfusion diagnostics and is anticipated to propel market expansion over the forecast period.
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High Instrument Expenses and a Lack of Infrastructure are restricting Growth
Despite a growing prevalence of chronic blood diseases and increased requirements for blood products and transfusions, some aspects are impeding the market's expansion. One factor is insufficient investment in medical infrastructure and stringent regulatory policies, particularly in developing countries compared to industrialized nations.
Furthermore, the increased cost of tests, instruments, and reagents, combined with a lack of skilled employees to manage automated diagnostic solutions, is one of the aspects stifling the expansion of the blood transfusion diagnostics market over the coming years.
Attributes |
Blood Transfusion Diagnostic Market |
CAGR (2022-2032) |
7% |
Market Value (2032) |
US$ 8.7 Billion |
Growth Factor |
The growing number of patients affected by anemia, which necessitates red blood cell transfusion for diagnosis, is predicted to push significant growth for blood transfusion diagnostics. |
Opportunity |
Growing demand for advanced technologies that can improve accuracy, pace, and cost-effectiveness is presumed to be the most critical growth aspect over the forecast period. |
Attributes |
Blood Cancer Diagnostics Market |
CAGR (2022-2032) |
6% |
Market Value (2032) |
US$ 28.57 Billion |
Growth Factor |
Developing-nation Demand for Blood Cancer Diagnostics and burgeoning Leukemia prevalence to strengthen market growth prospects over the forecast period. |
Opportunity |
Favorable reimbursement regulations enacted to improve healthcare infrastructure will establish opportunities for expansion in the blood cancer diagnostics market in emerging nations. |
North America is set to maintain its position as the world leader in blood transfusion diagnostics. A high proportion of voluntary blood donors, as well as the integration of blood transfusion policies for safety and communicable disease testing, are critical growth factors. The North American market is projected to grow at a favorable CAGR of 6.4%, accounting for more than three-tenths of the overall market.
Asia-Pacific is predicted to grow the quickest, with a CAGR of 7.0%, accounting for more than two-fifths of the world's blood transfusion diagnostics market. This is due to the high incidence of TTIs in low-income countries, which generates higher demand for disease-screening techniques.
The existence of CE-approved instrument assays for serological and Nucleic Acid Test (NAT)-based practices in European countries is projected to propel in Europe.
Germany and the United Kingdom are major contributors to the European blood transfusion diagnostics market. The growing number of surgeries and transplantation methods can be attributed to the industry progress in these nations.
Transfusion procedures are tightly regulated in Germany. There are four kinds of organizations that provide blood services: state blood transfusion services, communal blood transfusion facilities, commercial blood centers, and plasmapheresis centers.
The high rate of surgical procedures for chronic illnesses is fueling growth
The United States is the largest contributor to the North American market. The growing number of surgical operations for chronic medical conditions is fueling the expansion of the blood transfusion diagnostics market in North America.
According to the American Red Cross Organization, 29,000 units of red blood cells, 5,000 units of platelets, and 6.500 units of plasma will be required daily in the United States by 2022. In the United States, 16 million blood components are transfused every year.
Orthopedic surgeries are among the most frequently performed operations in the world, as per data published by the American Academy of Orthopedic Surgeons in 2018. Thus, as the number of patients undertaking orthopedic surgeries grows, so does the demand for blood transfusion, bolstering the blood transfusion diagnostic market in the United States.
Emergence of an adequate healthcare service system to drive Market Growth
In 2022, China dominated the Asia Pacific blood transfusion diagnostics industry. The elevated usage of sophisticated technology in blood-related diagnoses, followed by a rise in the number of blood donation camps and blood banks in the nation, is credited to the market growth in China.
The country has enacted a blood donation law that permits voluntary unpaid blood donation, and donated blood can only be utilized for clinical practice. Despite disease outbreak constraints, China's National Health Commission registered 15.53 million blood donations in 2020.
As a result of the growing number of blood donations for clinical usage, there is a large market for blood transfusion diagnostics to monitor blood groups. Furthermore, swift economic growth allows for higher healthcare expenditures, allowing for the establishment of a decent healthcare service system through the use of technological innovations.
Country | CAGR |
China |
6.9% |
U.S. |
6.4% |
Australia |
5.6% |
France |
5.9% |
Blood Grouping segment to Hold a Significant Position during the Forecast Period
During the projected period, the blood grouping segment will expand at a CAGR of 5.8%. The deployment of national blood transfusion regulations on blood typing and higher cost accessibility is expected to stimulate growth. During the forecast timeframe, the blood grouping segment is predicted to account for more than a quarter of the world's blood transfusion diagnostics market.
The blood grouping segment is forecast to expand as a consequence of the introduction of automated analyzers and growing preference for group typing and cross-matching tests before transfusion therapy to ensure donor and receiver blood sample adaptability.
Kits & Reagents segment to witness demand due to Cost-Effectiveness
The global market is divided into two sections among products: instruments and, Kits & Reagents. Subjected to repeated sales of these products required for screening and blood group typing both donor and receiver samples, the Kits & Reagents segment accounted for the largest share in 2021.
Because of the higher cost and longer shelf existence of these instruments, the instruments segment accounted for a relatively low share in 2021. The Kits & Reagents segment is expected to grow rapidly during the projected timeframe.
Grifols S.A., Bio-Rad Laboratories, Inc., Immucor, Inc., CSL Ltd., Abbott Laboratories, F. Hoffmann-La Roche Ltd, QUOTIENT, Merck KGaA, and DiaSorin S.p.A. are the leading market players in the global blood transfusion diagnostics market. These market participants are focused on implementing technological breakthroughs in testing procedures. Plasma fractionation is an example of such technological advancement.
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As of 2021, the Blood Transfusion Diagnostic market was worth US$ 4.42 Billion.
Fact.MR foresees Blood Transfusion Diagnostic demand to reach US$ 4.73 Billion in 2022.
From 2022-2032, Fact.MR expects Blood Transfusion Diagnostic revenue to flourish at a 7% CAGR.
In 2032, Blood Transfusion Diagnostic market worth is poised to reach US$ 8.7 Billion.
North American regional market is expected to rise at a cagr of 6.4%.
The Asia Pacific is expected to possess 7% market cagr for Blood Transfusion Diagnostic in 2032.
The kits & reagents Blood Transfusion Diagnostic segment is expected to hold the maximum share.
Blood grouping segment is expected to possess maximum market share for Blood Transfusion Diagnostic.