Blood Group Typing Market Size to Surpass USD 5.9 Billion by 2030

The global blood group typing market was estimated at USD 3.5 billion in 2021 and it is predicted to surpass around USD 5.9 billion by 2030 with a CAGR of 5.97% from 2022 to 2030.

The global blood group typing market was estimated at USD 3.5 billion in 2021 and it is predicted to surpass around USD 5.9 billion by 2030 with a CAGR of 5.97% from 2022 to 2030.

Factors, such as rising usage of blood group typing in forensic sciences and prenatal testing, increasing number of blood transfusions due to number of road accidents, and growing demand for blood and associated products are projected to drive the growth.

Full Report is Ready | Get the sample copy of report@ https://www.visionresearchreports.com/report/sample/39300

Blood group typing determines and identifies the O, A, B, and AB blood groups with the help of laboratory tests. The test is mandatory before transfusion as it enables checking compatibility of the blood types of the donor and the recipient along with determining the Rh factor. These tests are also performed to determine Hemolytic Disease of the Newborn (HDN) in pregnant women, which is anticipated to further drive the growth.

Blood Group Typing Market Size 2021 to 2030

Consumables dominated the product segment in 2018 and is expected to witness significant growth over the forecast period due to the increase in surgical procedures, such as organ transplantation. Factors, such as increasing use of serological fluids and reagents in laboratories and high blood donation rates are anticipated to further fuel the segment growth. North America held the largest share of the global blood group testing market in 2018. Asia Pacific is anticipated to register the fastest CAGR during the forecast period.

Lack of awareness, proper blood service infrastructure, and skilled professionals, as well as the risk of transmissible diseases such as HIV and hepatitis B are some of the factors that may impede the growth of the market for blood group testing.

Scope of The Report

Report Coverage

Details

Market Size in 2021

USD 3.5 billion

Revenue Forecast by 2030

USD 5.9 billion

Growth rate from 2022 to 2030

CAGR of 5.97%

Base Year

2021

Forecast Period

2022 to 2030

Segmentation

Product, technique, test type, region

Companies Covered

Grifols, S.A.; Merck KGaA; Bio-Rad Laboratories, Inc.; Immucor, Inc.; Novacyt Group; Danaher Corporation; Agena Bioscience, Inc.; Ortho Clinical Diagnostics; Quotient, Ltd.

Blood Group Typing Market Trends

The increasing demand for precise identification of individual blood groups in hospitals and laboratories is the key driver for market growth. Moreover, a rising number of blood banks globally is anticipated to fuel the market demand. According to the World Health Organisation (WHO), approximately 13,300 blood donation centers across 169 countries have reported a total of 106 million contributions in 2022.

Moreover, the surging demand for blood transfusion due to increasing emergency cases and chronic diseases, along with the rising number of surgical processes, are likely to boost the market. Furthermore, the rise in voluntary blood donation has contributed to the industry’s growth. As per the WHO, around 118.54 million donations were collected globally in 2018, of which 40% were from developed countries, which carry 16% of the global population.

A lack of awareness regarding the health benefits of donating blood, such as a lower risk of developing cancer and heart attack, and improved liver health, is likely to hamper the industry growth. However, organizations are trying to create new and improved testing methods to evaluate blood samples at the molecular level, which provides significant growth potential for the industry. Blood banks, for example, are already employing the adaptable DNA microarray technology to analyze genotypes and blood samples, in order to provide cost-effective screening.

Products Insights

Consumables segment held the largest market share in 2018 and is anticipated to lead the blood group typing market throughout the forecast period due to the increase in surgical procedures such as organ transplantation and the use of serological fluids and reagents in laboratories. The growth can also be attributed to the high blood donation rates leading to increased blood sample analysis. Additionally, the development of new molecular diagnostic test reagents and kits focused on reducing the turnaround time needed for conclusive outcomes is expected to further facilitate the growth.

Full Report is Ready | Buy this Premium Research Report@ https://www.visionresearchreports.com/report/cart/39300

Test Type Insights

The antibody screening segment held the largest market share in 2018 and is projected to continue dominating over the forecast period due to the increasing demand for early diagnosis and rising prevalence of chronic disorders. Moreover, the increasing incidence of Transfusion Transmitted Infections (TTIs), particularly in lower-middle-income and low-income nations is one of the major factors driving the segment growth. The ABO tests segment held the second-largest market share in 2018, due to the growing use of this test for blood grouping. In terms of revenue, the antigen typing and the HLA typing segment accounted for around 35% market share in the same year.

Technique Insights

The PCR-based and microarray segment accounted for the largest share in the market for blood group typing in 2018 due to increasing R&D activities focused on antibody-antigen interactions and the high prevalence of chronic diseases, such as sickle cell anemia, aplastic anemia, traumatic injuries, and leukemia.

Additionally, the growing usage of PCR-based techniques for determining rare blood group types coupled with rising awareness regarding the microarray-based approach is the key factor responsible for the large market share of the segment. In terms of revenue, the assay-based technique and massively parallel sequencing segments collectively accounted for slightly more than 50% share in 2018.

Regional Insights

North America held the largest market share in 2018 owing to a growing number of transfusions in high-income countries, such as the U.S. According to the World Health Organization (WHO) data in 2019, 42% of the blood donations come from high-income countries. According to the Centers for Disease Control and Prevention (CDC), around 18 million prenatal visits took place in the U.S. in 2015. This encourages demand for blood group typing during prenatal testing. Also, market players undertaking new product launches by the key market players are expected to contribute to regional growth.

Asia Pacific is anticipated to exhibit the fastest CAGR over the forecast period due to the rising prevalence of chronic diseases requiring the need for blood group typing. Rising incidence of infectious disease is a major concern in this region, driving industry growth. Also, the growing number of road accidents and trauma cases in countries, such as India is expected to trigger the adoption of these tests in the region.

Key Players

  • Grifols, S.A.;
  • Merck KGaA;
  • Bio-Rad Laboratories, Inc.;
  • Immucor, Inc.;
  • Novacyt Group;
  • Danaher Corporation;
  • Agena Bioscience, Inc.;
  • Ortho Clinical Diagnostics;
  • Quotient, Ltd.

Market Segmentation

  • By Product Outlook
    • Consumables
    • Instruments
    • Services
  • By Technique Outlook
    • PCR-based and Microarray Techniques
    • Assay-based Techniques
    • Massively Parallel Sequencing Techniques
    • Other Techniques
  • By Test Type Outlook
    • Antibody Screening
    • HLA Typing
    • Cross-matching Tests
    • ABO Blood Tests
    • Antigen Typing
  • By Regional Outlook
    • North America
    • Europe
    • Asia Pacific
    • Latin America
    • Middle East & Africa

Click Here to View Full Report Table of Contents

Full Report is Ready | Buy this Premium Research Report@ https://www.visionresearchreports.com/report/cart/39300

You can place an order or ask any questions, please feel free to contact at sales@visionresearchreports.com | +1 9197 992 333