Blood Typing Market: Increasing Blood Transfusion Rates Worldwide Drives Market

Transparency Market Research, Wilmington, Delaware, USA: Transparency Market Research (TMR) has released a new report titled “Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 to 2026″ .According to the report, the global blood typing market was valued at US$ 1.5 billion in 2017 and is expected to reach US$ 3.556 billion by 2026, growing at a high CAGR of 10.3% from 2018 to 2026. Increasing blood transfusion rate is expected in forecast During the period, all parts of the world will drive the global blood typing market.
North America and Europe are expected to dominate the global market over the forecast period.The market in these regions is mainly driven by the increase in government initiatives and the highly structured healthcare industry.The European market is expected to expand at a high growth rate of 10.1% from 2018 to 2026.The Asia Pacific market is expected to expand rapidly over the forecast period.The market in Asia Pacific is expected to expand at a high CAGR of 10.7% from 2018 to 2026.The blood typing market in Latin America is likely to expand at a moderate growth rate over the forecast period.
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In terms of technology, the PCR-based segment is expected to account for a major share of the global blood typing market during the forecast period.The segment is expected to grow at a CAGR of 10.6% from 2018 to 2026.The dominance of this segment is attributed to the increasing preference for PCR-based technologies due to rising incidences of major chronic diseases such as aplastic anemia, sickle cell anemia, leukemia, and trauma, resulting in the rate of blood transfusions in countries across the globe Increase.
Furthermore, increasing use of PCR-based technologies in rare blood group testing is a key factor expected to drive this segment.The microarray-based segment holds a major share after the PCR-based segment owing to the increasing awareness of the technology.The analytics-based technology and massively parallel technology segment accounted for approximately 30.0% share of the global blood typing market in 2017.
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This report provides a detailed segmentation of the global Blood Typing Market on the basis of product, technology, test, and end user.In terms of product, the market is segmented into instruments (automatic, semi-automatic, and manual), consumables (reagents, test kits, antisera, etc.), and services.The consumables segment is expected to hold the leading share of the global market during the forecast period.The higher share held by the segment is attributed to the continuous development of new molecular diagnostic test kits and reagents, which reduces the turnaround time required for results, and the increase in the number of blood transfusions per year globally is the key to driving the consumables segment factor.
In terms of testing, the antibody screening tests segment is expected to hold a dominant share of the global blood typing market by the end of the forecast period.The segment is likely to grow at a CAGR of over 10.0% between 2018 and 2026.The main factor contributing to the dominance of this segment is the rising incidence of transfusion-transmitted infections (TTIs), especially in low- and middle-income and low-income countries.After antibody screening tests, the ABO blood test segment holds a major share due to the increasing use of the test in blood typing.In 2017, the HLA typing and antigen segment accounted for approximately 30.0% of the global blood typing market in terms of revenue.
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Based on end users, the hospital segment held a leading share in the global blood typing market in 2017.It is expected to gain market share by the end of 2026.The segment is expected to grow at a CAGR of 10% over the forecast period owing to the large number of patients undergoing surgical procedures in hospitals that require blood transfusions and the growing emphasis on blood typing and patient testing.Clinical laboratories are a prominent segment after the relay hospital segment of the market in 2017.This is due to an increase in the number of clinical laboratories used for blood typing and screening.This, in turn, is likely to boost the clinical laboratory sector over the forecast period.
The North American blood typing market is driven by the high proportion of active and voluntary blood donors in the United States and Canada, the increase in the number of blood transfusions per year in the region, and the implementation of various blood transfusion policies for blood safety and blood testing.Infectious diseases.This in turn further drives the demand for blood grouping instruments, kits and reagents in North America.In addition, a large number of players in the United States are focusing on R&D to launch new products.The U.S. is an early adopter of innovative products, as most medicines are first introduced in the country.This could boost the country’s market in the near future.
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Trend of strategic alliances with local companies to strengthen distribution networks and expand geographic presence
The global blood typing market is fragmented due to the presence of several small and large companies.However, the market is dominated by a few major players with strong global presence.The report provides an overview of the key players operating in the global Blood Typing Market.Key players in the market include Grifols, SA, Bio-Rad Laboratories, Inc., Merck KGaA, Ortho Clinical Diagnostics, QUOTIENT LIMITED, BAG Health Care GmbH, Immucor, Inc., Beckman Coulter, Inc. (Danaher Corporation) , Agena Bioscience, Inc., Rapid Labs Ltd and Novacyt Group.
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Post time: Jul-11-2022