Blood Screening Market is segmented by Product (Reagents & Kits, Instruments, Software), Technology (NAAT [Real-time PCR], ELISA [CLIA, FIA, CI], Rapid Tests, Western Blotting, NGS), End User (Blood Banks, Hospitals, Laboratories) and Geography.
Blood Screening is a procedure utilized in detecting markers of infection in order to avoid infected blood to spread as well as blood components. By doing blood screening, it assures that blood units are safe. This is usually done by taking a blood sample from blood vessels to determine various infectious diseases.
The Blood Screening Market is expected to grow at a CAGR of 6.9% from 2022 to 2032 reaching a market size value of USD 3.65 billion by 2031 during the forecast period of 2022-2032.
Growth factors that contribute to the growth of this market are, rising number of blood donations made as well as blood transfusion-related screenings, rising cases of infectious diseases, increase in the number of geriatric population, and the public awareness on diseases transmitted by transfusion. During the forecast period, emerging markets like China and India together with technological advancements contribute in opening opportunities.
With respect to restraints in this market, the lack of proper legislation, regulation and policies relative to blood transfusion procedures in several countries and emergence of alternative technologies that may seem to replace blood screening are hindrances in the growth of blood screening market.
The Impact of COVID-19 on the Blood Screening Market
COVID-19 has negatively and positively impacted the blood screening market in several ways. The widespread of the virus has enabled the immediate development to detect COVID-19 antibodies by conducting serological tests. By conducting these tests, the seroprevalence of a virus in a given population can be determined. Due to the pandemic, there is a rising number of hospitalizations which in turn, increases the demand for blood donations or blood components also, positively influencing the market.
Unfortunately, during the outbreak of the virus, number of blood donations and blood transfusion-related screenings were relatively lessened compared before because the lock downs and stringent protocols imposed by the government restricted these activities to control infection. The fear of being infected by COVID-19 virus prevailed thereby causing a reduction in the number of screenings and blood donations. However, even though there are negative impact in the blood screening market, there is also a positive outcome brought about by the pandemic; blood donations increased when restrictions are laxer and considerate especially when it comes to testing blood, platelet and plasma donations for COVID-19 antibodies as per the American Red Cross. But over all, as the impending threats of the virus lingers in the society, blood donations and transfusion-related screenings have also been highly demanded since it aided in the study of the infection, thus, expected to contribute in the growth of the blood screening market.
Key Findings of the Blood Screening Market
In terms of product, the reagents & kits segment is expected to be the largest share accounted for in the market in 2022. Since reagents are recurrent expense, it is widely used for immunoassays and molecular tests. The drivers of growth in this segment are, rise in the number of blood donations, high demand for transfusion-related screenings, and rising cases of infectious diseases. Serological testing also contributed to the growth of this segment as well.
In terms of technology, the nucleic acid amplification segment is expected to have the largest share accounted for in 2022. This is due to the advancement of technologies in relation to high sensitivity and early detection specifics. In addition, adoption of advanced technologies in blood banks, hospitals, clinical laboratories also contribute to such large growth. But there are also challenges faced by this segment, these are, demand for skilled laborers and expensive initial infrastructure.
In terms of end user, the blood banks segment is projected to have the largest share of the blood screening market. The driving growth factors for this segment are, rise in the number of blood donations, high demand for transfusion-related screenings, and rising cases of infectious diseases.
Regional Market Analysis
North America in 2020 dominated the market. This regional market is expected to have the largest share accounted for whose growth is primarily attributed to rise in the number of blood donations, high demand for transfusion-related screenings, rising cases of infectious diseases, large number of geriatric population, demand for early diagnosis and monitoring, rising demand for healthcare expenditure, and the developing adoption of advanced blood screening technologies in North America.
Based on an extensive assessment, these major key players in the blood screening market have a competitive landscape and utilizing key strategic developments to lead the industry over the past years until now. These companies are, Abbott Laboratories (U.S.), OriGene Technologies, Inc. (U.S.), BioAim Scientific Inc. (Canada), bioMérieux, Inc. (France), Bio-Rad Laboratories, Inc. (U.S.), Grifols, S.A. (Spain), Immuno-Biological Laboratories Co., Ltd. (Japan), Biovision, Inc. (U.S.), Becton, Dickinson and Company (U.S.), Boster Biological Technology (U.S.), Cusabio Technology LLC (U.S.), Danaher Corporation (U.S.), Demeditec Diagnostics GmbH (Germany), and F. Hoffmann-La Roche Ltd. (Switzerland), among others.
• Historical data available (as per request)
• Estimation/projections/forecast for revenue and unit sales (2022 – 2032)
• Data breakdown for every market segment (2022 – 2032)
• Gross margin and profitability analysis of companies
• Price analysis of each product type
• Business trend and expansion analysis
• Import and export analysis
• Competition analysis/market share
• Supply chain analysis
• Client list and case studies
• Market entry strategy
Industry Segmentation and Revenue Breakdown
Product Analysis (Revenue, USD Million, 2022 - 2032)
• Reagents & Kits
• NAT Kits & Reagents
• ELISA Kits & Reagents
• Other Kits & Reagents
• Software & Services
Technology Analysis (Revenue, USD Million, 2022 - 2032)
• Nucleic Acid Amplification
• Transcription Mediated Amplification (TMA)
• Real-time PCR
• Chemiluminescence Immunoassay (CLIA)
• Fluorescence Immunoassay (FIA)
• Colorimetric Immunoassay (CI)
• Rapid Tests
• Western Blotting
• Next-generation Sequencing (NGS)
End User Analysis (Revenue, USD Million, 2022 - 2032)
• Blood Banks
• Clinical Laboratories
Region Analysis (Revenue, USD Million, 2020 – 2032)
• United States
• United Kingdom
• South Korea
• Saudi Arabia
• Rest of World
• United States Blood Screening Industry Research Report
• Europe Blood Screening Industry Research Report
• Asia Pacific Blood Screening Industry Research Report
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