Blood Screening Market analysis is provided for global market including development trends by regions, competitive analysis of the Blood Screening market. Blood Screening Industry report focuses on the major drivers and restraints for the key players.
Blood Screening Market is poised to reach USD 2.80 billion by 2021 from USD 1.76 billion in 2016, at a CAGR of 9.7%
Major factors contributing to the growth in this segment are increasing number of blood donations, rising incidence of various infectious diseases, and increasing disposable income to pay for advanced blood screening procedures including NAT-test.
Globally, the blood screening market is witnessing substantial growth due to factors such as increasing number of blood donations and blood donors, growing affordability and adoption of nucleic acid test (NAT) for blood screening, rising awareness regarding the safety of donated blood, growing demand for donated blood, and increasing prevalence/incidence of infectious diseases.
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The major players in this market include Grifols (Spain), Siemens Healthineers (Germany), Roche Diagnostics (Switzerland), Ortho Clinical Diagnostics, Inc. (U.S.), Abbott Laboratories (U.S.), Thermo Fisher Scientific, Inc. (U.S.), bioMérieux (France), Beckman Coulter, Inc. (U.S.), Bio-Rad Laboratories, Inc. (U.S.), and Becton, Dickinson and Company (U.S.).
Blood Screening Market DRIVERS:
- Increasing number of blood donations and blood donors
- Increasing demand of donated blood
- Rising prevalence of infectious diseases
- Growing affordability and adoption of NAT for blood screening
- Rising awareness regarding the safety of donated blood
Blood Screening Market RESTRAINTS:
- Capital expenditure and operating costs of NAT
- Lack of regulations mandating the use of NAT in developing countries
- Emergence of alternative technologies
Blood Screening Market OPPORTUNITIES:
- Pathogen reduction technology
- Multiplex tests
- Emerging economies
Blood Screening Market CHALLENGE:
- Price reduction
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Blood Screening Market Segmentation Based On Region:
Geographically, the blood screening market is dominated by North America, followed by Europe, Asia, and the Rest of the World (RoW). The growth of this market can be attributed to the increasing adoption of nucleic acid tests (NAT) in this region. In addition, the increasing participation of various government associations in blood donations and screening & transfusion activities also supports the growth of the North American blood screening market.
Blood Screening Market Segmentation Based On Product & Service:
On the basis of product & service, the market is segmented into reagents & kits, instruments, and software & services. In 2016, the reagents and kits segment is expected to account for the largest share of the market. The repeated usage of reagents and kits is the key driving factor driving the growth of this segment.
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Blood Screening Market Segmentation Based On End-User:
On the basis of end user, the market is segmented into blood banks and hospitals. In 2016, the blood banks segment is expected to account for the largest of the market. This is primarily due to the increasing number of organ transplantation surgeries, increasing demand for donated blood, rising awareness regarding the safety of blood, and increasing number of donations worldwide.
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