Blood Group Typing Market to achieve CAGR of 9.3% from 2023 to 2032, owing to growing requirement for safe blood transfusions | insightSLICE
The global Blood Group Typing market size was estimated to be US$ 3.5 billion in 2021 and is expected grow at a CAGR of 9.3% between 2023 to 2032.
Blood group typing is a testing method in which a person’s blood type is categorized and determined to be one of A, B, AB, or O using laboratory tests. Blood group typing is necessary to check for the Rh factor, transfuse blood, and establish whether donor and recipient blood is compatible.
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The key players of the Global Blood Group Typing Market are:
Grifols, S.A., Bio-Rad Laboratories, Inc., Immucor, Ortho Clinical Diagnostics, Quotient, BAG Health Care GmbH, Sucuri, AXO Science, Agena Bioscience, Inc., Beckman Coulter, Inc., Grifols S.A., Novacyt Group, Ortho Clinical Diagnostics, DIGEST, and Agena Bioscience Inc. are some of the larger companies involved in blood.
Driving factors for the growth of Global Blood Group Typing Market
The key factors driving the growth of the blood group typing market are the rise in trauma, emergency, and traffic accidents and the increased need for blood group typing in prenatal testing.
The growing requirement for safe blood transfusions and the rising demand for early screening and diagnosis are anticipated to drive the market’s overall growth. Additionally, blood group typing in forensic sciences and strict regulatory requirements for blood transfusions contribute to the market’s overall development.
However, a lack of knowledge, appropriate healthcare facilities, and qualified professionals cause a reduction in blood bank reagent sales, which restrains the market’s expansion.
The development of emerging countries and the rising need for blood group typing in molecular diagnostics are anticipated to create lucrative market prospects. Conversely, the decline in blood drives brought on by the COVID-19 pandemic might threaten the market’s expansion.
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COVID-19 impact on Blood Group Typing market
The COVID-19 epidemic marginally negatively impacted the blood group typing business. Because of the growing worries about the virus’s spread following the pandemic, blood donation drives were put on hold. After blood banks and transfusion activities significantly slowed down, the sector came to a complete halt.
The strict rules and standards imposed by various public entities, such as social isolation and lockdown, significantly contributed to the decline in voluntary blood donations.
Global Blood Group Typing Market Key Segments:
By Components
- Consumables
- Instruments
- Services
By Technique:
- PCR-based & microarray
- Assay-based
- Next generation sequencing (NGS)
- Others
By Test Type:
- Antigen typing
- Antibody screening & identification
- ABO tests
- Cross-matching tests
- Others
By End-use:
- Hospitals
- Blood banks
- Laboratories
- Others
By Geography
- North America
- United States
- Canada
- Rest of North America
- Europe
- Germany
- the United Kingdom
- Italy
- France
- Spain
- Rest of Europe
- Asia Pacific
- Japan
- India
- China
- Australia
- South Korea
- Rest of Asia Pacific
- Middle East & Africa
- UAE
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
The leading market segments of Global Blood Group Typing Market
The reagents & kits segment dominated the market since these products were used so often in numerous operations. The growing number of blood donors and transfusions is one of the main contributors to segmental enlargement.
During the forecast period, the instruments segment has strong development prospects. It is anticipated that strategic initiatives, technological advancements, and a rise in the usage of sophisticated equipment will promote industry growth.
Cross-matching testing and HLA typing are also anticipated to grow with a significant CAGR for locating and matching the region’s organ and tissue donation operations.
Cross-matching tests and HLA typing are anticipated to grow with an enormous CAGR as they are employed for locating and matching organ and tissue donation operations in the area.
The serology testing category dominated the market for blood group typing globally due to increased efforts to promote voluntary blood donations and new product debuts.
Serology testing is one of the most well-known methods in this field and may be used in a lab environment or during a research effort. They are also simple and easy to use, which increases market demand for these products.
Their market is anticipated to grow dramatically as molecular testing gains popularity. The high sensitivity of molecular tests to detection is the primary factor influencing the segment’s expansion.
This market sector, which now enjoys a monopoly, is predicted to grow due to an expansion of independent labs and blood banks, particularly in emerging nations.
In terms of end users, hospitals account for the second-largest market share. During the projection period, favorable reimbursement policies and the rising number of hospitals in developed countries would support segmental expansion.
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Regional performance of Blood Group Typing Market
The North American market is expected to dominate the world during the forecast period.
The field is an industry leader due to increased demand for blood transfusions, increased use of automated blood typing machines, and supportive reimbursement regulations for these surgeries. Additionally, market expansion in North America is driven by government approval of secular commodities.
In 2021, the Europe region captured second-largest market share. The increase in these procedures and public awareness of the importance of donating blood are the main drivers of the market.
The Asia-Pacific market is expected to grow significantly due to increased research and development efforts to provide improved blood typing technology. Such research and development activities will likely introduce unique products to Japan.
The South America industry is expanding due to growing awareness of blood and organ donation in Brazil. The developing blood collection infrastructure in South America will significantly support the market expansion during the forecast period.
The Middle East and Africa are projected to have growth potential over the forecast period due to increased awareness of blood donation and increased transfusions in hospital trauma centers.
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