High Prevalence of Blood-Related Disorders to Propel Demand for Blood Transfusion Diagnostics

A blood transfusion is a method of adding blood or blood components to a human body after an injury or illness. If any individual’s body is mission components that require having a healthy body then transfusion can supply the required components. The process takes time in the range of 1 to 4 hours, depending on the amount of blood required for the body. The replacements of blood or blood components include RBC, WBC, platelets, etc. Blood transfusion is an ideal solution for managing multiple medical problems such as blood loss and other related issues.

In the last decade, molecular diagnostics has developed into a multibillion-dollar industry, thanks to significant advances in biological chemistry and instrumentation. Robust diagnostic techniques are being introduced, allowing the ability to use real-time PCR and other techniques. Molecular diagnostic methods are commonly used by hospitals and diagnostic laboratories in blood transfusion testing and diagnosis.

An increasing number of surgeries performed across the globe due to rising cases of accidents and orthopedic disorders is one of the major factors responsible for market growth. In addition to this, increasing cases of chronic diseases such as askance, hemophilia, severe inflammation, extreme anemia, sickle cell disease, thrombocytopenia, and liver have resulted in increased demand for diagnosis of blood transfusions.

Furthermore, increasing healthcare expenditures by private-public organizations and government policies have enabled the rapid development of healthcare services. Growing awareness regarding the importance of blood donation as a result of various campaigns run by different institutions is further augmenting growth for the blood transfusion diagnostics market.

• The reagents & kits segment dominated the market with a major contribution in terms of revenue generation, owing to the higher purchase rate of these products required during the screening of donor and recipient samples. Additionally, advancements in donor screening analyzers further supporting the segmental growth.
• The blood grouping segment is anticipated to witness a faster growth rate on account of increased diagnostics tests in the blood banks. In addition to this, a necessity for routine blood typing before transfusion therapy drives the growth of the segment.
• Laboratories and diagnostic labs segment accounted for the higher demand for blood transfusion devices such as aphaeresis devices, blood component separator, and other consumables. This increased demand is attributed to a growing geriatric population across the world.

North America, with the largest share, dominated the market and is projected to retain its leading position in the coming years. In the regional market of North America, the United States contributed the major revenue for the market. Key factors leading to the dominance of the area include increasing involvement of major corporations and rising knowledge of blood transfusion among people. According to statistics from the Community Blood Center, about 43,000 pints of donated blood are used in both the U.S. and Canada every day.

Asia Pacific is projected to experience the fastest CAGR on account of increasing awareness campaigns for spreading the importance of blood donations, especially run by the Indian and Australian governments. The decreasing number of donors in South Korea and Singapore and, however, has led to less use of transfusion diagnostic tools in the region.

BAG healthcare, Immucor, Thermo Fisher Scientific, Inc., Fujirebio, Roche Diagnostics, Beckman Coulter, Bio-Rad Laboratories, Inc., DiaSorin, Biokit, Grifols, Siemens Healthineers, Grifols, Quidel, Ortho Clinical Diagnostics, Inc., Abbott Diagnostics, and Dickinson and Company are some of the leading companies operating in the blood transfusion diagnostics market.

Deep-Dive Insights On Blood Transfusion Diagnostics Market by Polaris Market Research: https://www.polarismarketresearch.com/industry-analysis/global-blood-transfusion-diagnostics-market