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Blood Screening Market on the Rise| Expected to Reach USD 3.10 Billion by 2023

The Blood Screening Market was worth USD 1.35 billion in 2014 and is expected to reach approximately USD 3.10 billion by 2023, while registering itself at a compound annual growth rate (CAGR) of 9.68% during the forecast period. Blood Screening is the key part to prevent degenerative infection. By giving a far reaching preview of your present condition of wellbeing, blood screening can detect potential medical issues. Increasing numbers of blood donors and blood donations coupled with rising awareness about safety of donated blood are the key factors that are propelling the growth of Blood Screening Market.

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Technology Outlook and Trend Analysis

According to the Type the market of Blood Screening is divided into NGS, Nucleic Acid Amplification (NAT), ELISA, (CLIA, Fluorescence assay), (rPCR), Western Blotting, Rapid Test. Due to its increasing affordability, accuracy, and other factors such as rise in number of blood donors. NAT is one of the major players in the market. It is further segmented into Transcription-Mediated Amplification (TMA) and Real-Time PCR. Also the ELISA test is further divided into Chemiluminescence Immunoassay (CLIA), Fluorescence Immunoassays (FIA), and Colorimetric Immunoassay (CI).

Product Outlook and Trend Analysis

Reagents & Kits, Instruments, and Software & Services are various categories into which the product segment is divided into. The Reagents & Kits segment is further categorised as ELISA Reagents & Kits, NAT Reagent & Kits, and Others. The Reagent & Kits segment is predicted to dominate throughout the forecast period owing to increasing demand.

End User Outlook and Trend Analysis

The End User segment is fragmented into Hospitals and Blood Bank. The Blood bank sector is expected to rule the market whilst holding the largest share due to increasing incidents of blood donations, increasing no. of donors and huge number of organ replacements and organ donations taking place across the world.

Regional Outlook and Trend Analysis

According to the region, the Blood Screening Market is segmented as North America, Asia-Pacific, Europe and South America and Middle East & Africa. The North-America Region is expected to rule the market in terms of volume as well as value which is followed by Europe. The Asia-Pacific Market is expected to grow at highest CAGR during the forecast period owing to increasing demand for blood screening in the countries like India, China and Japan. The key aspects that fuel the development of the worldwide blood screening market incorporate increment in pervasiveness of irresistible infections, ascend in number of blood gifts, increment in mindfulness about social insurance, and surge in appropriation of nucleic acid amplification test (NAT). Besides, ascend in social insurance activities by government, increment in medicinal services use, and mechanical progressions in blood screening advancements have energized the market development.

Competitive Insights

The leading players in the market are Bio-Rad Laboratories Inc., Abbott Laboratories, Becton, Dickinson and Company, Beckman Coulter Inc., Ortho Clinical Diagnostics Inc., Thermo Fisher Scientific Inc., bioMérieux, Siemens Healthineers, Roche Diagnostics, and Grifols. The major players in the market are profiled in detail in view of qualities, for example, company portfolio, business strategies, financial overview, recent developments, and share of the overall industry.

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The Blood Screening Market is segmented as follows-

By Test Type:

NGS
Nucleic Acid Amplification (NAT)
ELISA (CLIA, Fluorescence assay)
Western Blotting
Rapid Test

By Product Type:

Reagents & Kits
Instruments
Software & Services

By End User:

Hospitals
Blood Banks

By Region:

  • North America
  1. US
  2. Canada
  3. Mexico
  • Europe
  1. Germany
  2. UK
  3. France
  4. Russia
  5. Italy
  6. Rest of Europe
  • Asia-Pacific
  1. China
  2. Japan
  3. South Korea
  4. India
  5. Southeast Asia
  6. Rest of Asia-Pacific
  • South America
  1. Brazil
  2. Argentina
  3. Columbia
  4. South Africa
  5. Rest of South America
  • Middle East and Africa
  1. Saudi Arabia
  2. UAE
  3. Egypt
  4. Nigeria
  5. South Africa
  6. Rest of MEA

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Some of the key questions answered by the report are:

  • What was the market size in 2014 and forecast from 2015 to 2023?
  • What will be the industry market growth from 2015 to 2023?
  • What are the major drivers, restraints, opportunities, challenges, and industry trends and their impact on the market forecast?
  • What are the major segments leading the market growth and why?
  • Which are the leading players in the market and what are the major strategies adopted by them to sustain the market competition?

 

About the author

Nehal Chinoy

Much like her co-founder, Nehal gets her entrepreneurial spirit from her family. However being the independent person she is, she started a business venture of her own early on since college. She opened a studio where she singlehandedly made and sold dreamcatchers, which was quite a raging trend then. Having tasted the success, her motivation for being an entrepreneur grew from there.

Today, as a co-founder and sales director, she oversees several functions including information procurement, sales and operations at Qurate Business Solutions.

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