The Blood Group Typing Market is growing pervasively owing to the increasing prevalence of chronic diseases and accident cases, worldwide. Moreover, technological advancements in blood group detections methods such as quantum dots (QDs) and magnetic beads in assays improve identification are escalating the market on the global platform, enhancing the clinical safety in the blood transfusion processes.
Blood group typing process is helpful in determining the type of blood group of an individual. This typing method is a mandatory requirement before blood transfusion to examine the compatibility between the blood group of donor and recipient. Blood typing methods also have significance in prenatal testing where the father has an RhD positive blood group, and the mother has an RhD negative blood group.
According to The American National Red Cross, over 21 MN blood components are transfused each year in the US. Following the same suit, an estimated 6.8 million people in the US donate blood each year. Recognizing the exponential growth, the market perceives currently; Market Research Future (MRFR), in its recently published study report asserts that the global blood group typing market will grow colossally by 2023, posting a CAGR over 10% during the review period (2018 – 2023).
Additional factors boosting the market growth include the augmenting demand for blood grouping during prenatal testing, the rise in blood donations, and growing usage of blood typing in the forensic sciences. Moreover, the growing number of road accidents and trauma cases which require blood transfusion and the increasing demand for blood products foster the market growth.
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On the flip side, factors such as the stringent regulatory requirements for blood transfusion are expected to hamper the growth of the global blood group typing market. Also, the unmet clinical needs alongside the unavailability of external funding are obstructing the market growth, especially in the developing regions. Nevertheless, augmenting demand for the blood group typing in the diagnostics that can give fastest & accurate results is propelling the growth of the market.
Global Blood Group Typing Market – Competitive Analysis
The blood group typing market appears to be fragmented and fiercely competitive due to many large and small players churning the competition in the market. Through the strategic initiative such as partnership, expansion, acquisition, product & technology launch, and collaboration, these players try to gain a competitive edge in the market.
Key Players – Blood Group Typing Market
Some of the players leading the global blood group typing market are Grifols International, S. A., Bio-Rad Laboratories, Inc., Beckman Coulter, Ortho Clinical Diagnostics, Inc., Immucor, Inc., Quotient, Ltd., Bag Healthcare GmbH, Novacyt Group, Rapid Labs, Agena Biosciences, Inc., AXO Science, Merck KGaA, and Day Medical SA among others.
Industry Related News
April 08, 2019 —- Bio-Rad Laboratories, Inc. (the US), a leading global pioneer in the field of clinical diagnostic products and life science research announced the receiving a 510(k) clearance from the U.S. FDA for its automated random access system for blood typing and screening named – IH-500.
The IH-500 system is designed for blood typing and screening based on gel card technology with minimal user intervention across small to medium-sized laboratories. The system can process Bio-Rad’s entire range of IH gel cards for ABO blood grouping, reverse testing, phenotype, Rh-subgroups, antibody screening, antibody identification, single antigen testing, direct AHG testing (DAT), and cross-match, to deliver safe and accurate results.
Segments – Blood Group Typing Market
MRFR has segmented its analysis into five key dynamics for enhanced understanding.
By Technique: PCR-based &Microarray Techniques, Assay-based Techniques, and Massively Parallel Sequencing among others.
By Test Type: Antibody Screening, HLA Typing, ABO Blood Tests, Cross-Matching Tests, and Antigen Typing among others.
By Product & Service : Consumables, Instruments, and Services.
By End-user: Hospitals, Blood Banks, and Clinical Laboratories among others.
By Regions: North America, Europe, Asia Pacific, and the Rest-of-the-World (RoW).
Regional Analysis – Blood Group Typing Market
The North American region, heading with the presence of a well-developed healthcare sector would retain its dominance over the global blood group typing market with the largest market share. The increasing occurrence of chronic diseases and the high per capita healthcare expenditures propel the growth in the regional market. This market will create a substantial revenue pocket throughout the forecast period. Furthermore, the presence of prominent market players impacts market growth positively.
The blood group typing market in the European & Asia Pacific region accounts for the second & third largest market, respectively. In Europe, the blood group typing market is growing due to the well-spread awareness towards keeping good health and the initiatives undertaken by private and public organizations. Moreover, the growing prevalence of various Hematological disorders, chronic diseases, and the increasing number of blood transfusion procedures in the region are fostering market growth.
The Asia Pacific blood group typing market has been emerging as a promising market, globally. Factors such as the continuously developing economies, the rising prevalence of chronic diseases, spreading awareness towards healthcare, and increasing government funding for the healthcare sector are fostering the growth of the regional market.
Factors substantiating growth in the APAC market include the substantial funds transpired into R&D activities, huge patient population, and rapidly developing healthcare infrastructure, government support. Furthermore, increasing healthcare expenditures and favorable government policies, especially in India and China, are propelling the growth of the market in the region.
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