Blood Transfusion Diagnostic Market Insights: Rising Patient Pool with Chronic Ailments to Bolster Market Growth
The demand for blood transfusions has experienced an upsurge since the past several years. This is attributed to a large number of patients undergoing surgical procedures for various chronic diseases, such as aplastic anemia, sickle cell anemia and leukemia. This has prompted key players to focus on research & development for advanced instruments, assays and kits in blood banks and hospitals.
The recent COVID-19 pandemic has presented expansion opportunities for blood transfusion diagnostics market. A series of plasma transfusion trials are being conducted in the United States. Practitioners extract the liquid medium from recovered patients and introduce it to infected ones.
This “convalescent plasma” is anticipated to boost the immunity of patients battling the disease. On the back of these trends, the global blood transfusion diagnostics market is poised to expand positively at a CAGR of 6.3% during the forecast period (2020-2025).
Application Insights: Molecular-based Disease Screening to Stimulate Market Growth
Molecular-based Disease Screening shall find widespread application of blood transfusion diagnostics, capturing over 70% of the market. This is due to rise in prevalence of Transfusion Transmitted Infections (TTIs) such as Hepatitis C & B and HIV-AIDS.
Nucleic Acid Amplification Tests (NAT), based on molecular techniques, has revolutionized the blood diseases screening segment. The disease screening segment is poised to expand at a CAGR of 6.7% in the forecast period.
The blood grouping segment shall expand at a CAGR of 5.6% during the forecast period. Implementation of national blood transfusion policies on blood typing and greater affordability in terms of cost are anticipated to fuel growth. The blood grouping segment is poised to capture more than a quarter of the global blood transfusion diagnostics market in the forecast period.
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Regional Insights: North America Retains Hegemony, Asia-Pacific Presents Bankable Opportunities
North America is poised to remain the leader in the global blood transfusion diagnostics market. High percentage of voluntary blood donors and implementation of blood transfusion policies for safety and testing for infectious diseases are important growth drivers. The North American market is anticipated to expand at a positive CAGR of 6.4%, capturing over three-tenths of the overall market.
Asia-Pacific is anticipated to grow the fastest, registering a staggering CAGR of 7.0%, capturing greater than two-fifths of the global blood transfusion diagnostics market. This is attributed to high prevalence of TTIs in low-income countries, resulting in greater demand for disease-screening procedures. Moreover, there is a steady increase in the number of blood donation centers and blood donors. There is also an augmented demand for pre-transfusion testing.
Technological Insights: Plasma Fractionation Key Technological Development of Market Players
The global blood transfusion diagnostics market is semi-consolidated, consisting of the following prominent market players: Grifols S.A., Bio-Rad Laboratories, Inc., Immucor, Inc., CSL Ltd., Abbott Laboratories, and DiaSorin S.p.A. These market players concentrate on introducing technological advancements in testing procedures. An example of such technological development is plasma fractionation.
CSL Ltd., is a major player in the plasma fractionation industry. The company collected an estimated 9 million liters of plasma in 2016. In this technique, various components such as immunoglobulins, albumin and other proteins are extracted for several treatment procedures.
Likewise, Grifols S.A also specializes in plasma fractionation techniques. It manufactures plasma derived products for treating various conditions, such as coagulation disorders, pulmonary disorders, immunodeficiencies and shock and trauma. Its products include the BloodChip multiplex blood group genotyping kit based on Luminex technology for the main allelic variants of red blood cells and human platelet antigens.
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COVID-19 Market Insights:
COVID-19 is presently the biggest threat to the health and well-being of citizens across the world. Although there is a dearth of specific antiviral agents for its treatment, feasibility studies are underway to determine possible cures. For example, research is being conducted on convalescent plasma transfusion (CP) and its potential to rescue severely ill patients.
Results from 10 severe patients showed that one dose of 200 milliliters of CP could significantly increase or maintain neutralizing antibodies at high levels. CP therapy is a classic adaptive immunotherapy which has been applied for over a century. The therapy was also used to treat SARS, MERS and the H1N1 epidemic in 2009 with satisfactory results. Banking on these trends, medical practitioners anticipate to contain the COVID-19 pandemic as well.
The COVID-19 virus especially presents potent challenges to patients with hemoglobin disorders. Though there is no direct link between respiratory conditions and hemoglobin disorders, complications involving the heart, lungs and the immune system, may be present in these patients. A viral infection can only compound the complications.
In addition, these patients may be splenectomised and sickle cell patients may be functionally asplenic. Therefore, taking preventive measures for such patients is a major responsibility of medical caregivers. Key market players, notably CSL Behring, are undertaking unprecedented research to develop a potential plasma therapy to treat COVID-19. CSL is part of an alliance developing one, unbranded anti-SARS-CoV-2 polyclonal hyperimmune immunoglobin medicine. The alliance also seeks to support national governments in their efforts to fight the current pandemic.
The global blood transfusion diagnostics market is poised to grow positively during the forecast period. Expansion of the market is based on increasing number of surgical procedures for testing of chronic ailments. Research and development of convalescent plasma (CP) transfusion techniques to boost immunity of patients in the wake of the COVID-19 pandemic is also anticipated to boost market prospects.
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Global Blood Transfusion Diagnostics Market: Scope of the Report:
The recent global blood transfusion diagnostics market report by Fact.MR offers a 5-year forecast from 2020 to 2025. The report elaborates on the key drivers, restraints, opportunities and threats to the expansion of the global blood transfusion diagnostics market. A detailed segmental analysis, based on product type, application and end-user, has been provided in the report.
Regional analysis in terms of supply chain analysis, business execution and market value analysis provides an in-depth perspective about the future scope of the global blood transfusion diagnostics market. In addition, a separate section on market structure has also been provided. The section provides a detailed analysis of key market players and the strategies for expansion in the blood transfusion diagnostics market.
Blood Transfusion Diagnostics: Market Segmentation
Fact.MR has studied the blood transfusion diagnostics market with detailed segmentation on the basis of product type, application, end-user and geography.
- Kits & Reagents
- Blood Grouping
- Disease Screening
- Molecular Disease Screening
- Serological Disease Screening
- Diagnostic Laboratories
- Blood Banks
- Plasma Fractionation Companies
- North America
- Asia Pacific
- Eastern Europe
- Latin America
- Middle East & Africa (MEA)
“This taxonomy prepared is confidential and intended exclusively for the individual or entity with whom it is being shared. Reading, disseminating, distributing, or copying this to any party other than addressee(s) is unauthorized and prohibited.”
Blood Transfusion Diagnostics Market- Scope of the Report
The recent study by Fact.MR on blood transfusion diagnostics market offers a 5-year forecast between 2020 and 2025. The study analyzes crucial trends that are currently determining the growth of blood transfusion diagnostics market. This report explicates on vital dynamics such as the drivers, restraints and opportunities for key market players along with key stakeholders as well as emerging players associated with the provision of blood transfusion diagnostics. The study also provides dynamics responsible for influencing future status of the blood transfusion diagnostics market over the forecast period.
A detailed assessment of blood transfusion diagnostics market value chain analysis, business execution, and supply chain analysis across the regional markets has been covered in the report. A list of prominent companies operating in the blood transfusion diagnostics market along with their product portfolio enhances the reliability of this comprehensive research study.
Blood Transfusion Diagnostics Market: Report Summary
The study offers a comprehensive analysis on diverse features including production capacities, demand, product developments, revenue generation and sales in blood transfusion diagnostics market across the globe.
A comprehensive estimate of blood transfusion diagnostics market has been provided through an optimistic as well as a conservative scenario, taking into account the sales of blood transfusion diagnostics market during the forecast period. Price point comparison by region with global average price is also considered in the study.
Blood Transfusion Diagnostics Market: Analysis on Market Size Evaluation
Blood transfusion diagnostics market has been analyzed for each market segment, in terms of value (US$ Mn).
Market estimates at global and regional levels for blood transfusion diagnostics is available in terms of “US$ Mn” for value. A Y-o-Y growth contrast on prominent blood transfusion diagnostics market segments, along with market attractiveness evaluation, has been incorporated in the report.
Blood Transfusion Diagnostics Market: Inspected Assessment on Regional Segments
Key sections have been elaborated in the blood transfusion diagnostics report, which have helped deliver projection on the regional markets. These chapters include the regional macros (economic, and business environment outlook), which are expected to have a momentous influence on the growth of the blood transfusion diagnostics market during the forecast period.
Country-specific valuation on demand for blood transfusion diagnostics has been offered for each regional market, along with the market scope estimate and forecast, price index, and impact analysis of dynamics of prominence in regions and countries. For all regional markets, Y-o-Y growth estimates have also been incorporated in the report.
Detailed breakup in terms of value for emerging countries has also been included in the report.
Blood Transfusion Diagnostics Market: In-Depth Analysis on Competitive Landscape
The report sheds light on the leading providers of blood transfusion diagnostics along with their detailed profiles. Essential and up-to-date data information related to the market performers, who are principally engaged in the production of blood transfusion diagnostics, has been brought with the help of a detailed dashboard view. Market share analysis and comparison of prominent players provided in the report permit the report readers to take preemptive steps in advancing their businesses.
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