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Blood Transfusion Diagnostics Market Size to Reach USD 6.6 billion, at a 5.0% CAGR By 2031 – Transparency Market Research Inc.

Enhanced educational initiatives for healthcare professionals promote proficiency in utilizing blood transfusion diagnostic tools effectively.

WILMINGTON, Del., Jan. 2, 2024 /PRNewswire/ — The global blood transfusion diagnostics market is estimated to flourish at a CAGR of 5.0% from 2023 to 2031. Transparency Market Research projects that the overall sales revenue for blood transfusion diagnostics is estimated to reach US$ 6.6 billion by the end of 2031. Innovations in logistics and supply chain management optimize blood collection, storage, and distribution. Advanced tracking systems and efficient inventory management solutions improve transfusion efficacy and safety.

Focus on donor health tracking and screening methodologies improves blood quality. Continuous monitoring and assessment of donor health indicators enhance the safety and reliability of donated blood, influencing diagnostics’ demand. Ongoing research into novel biomarkers for blood typing and compatibility assessments drives innovation. Identifying specific markers for quicker, more accurate diagnostics enhances transfusion safety and efficiency.

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Blood Transfusion Diagnostics Market Report Scope:

Report Coverage

Details 

Forecast Period

2023-2031

Base Year

2022

Size in 2022

US$ 4.3 Bn

Forecast (Value) in 2031

US$ 6.6 Bn

Growth Rate (CAGR)

5.0 %

No. of Pages

155

Segments covered

Product Type, Application, End-user

Increasing adoption of point-of-care testing in smaller healthcare facilities and remote settings drives market growth. Portable and rapid diagnostic devices facilitate quicker and decentralized blood typing and screening procedures. Integration of artificial intelligence algorithms into diagnostic devices for blood typing and screening enhances accuracy and efficiency. AI-driven analysis aids in rapid and precise assessments, contributing to market advancements.

Key Findings of the Market Report

  • Kits & reagents emerge as the leading product type segment in the blood transfusion diagnostics market due to their widespread application.
  • Blood grouping emerges as the leading application segment in the blood transfusion diagnostics market due to crucial compatibility assessments in transfusions.
  • Hospitals emerge as the leading end-user segment in the blood transfusion diagnostics market due to extensive transfusion procedures and patient care.

Blood Transfusion Diagnostics Market Growth Drivers & Trends

  • Increasing blood transfusion procedures globally drive the demand for advanced diagnostics, ensuring safe and compatible blood products.
  • Growing focus on infectious disease detection in donated blood reinforces demand for accurate diagnostic solutions.
  • Continuous innovation in diagnostic techniques and automation streamlines blood typing, enhancing efficiency and accuracy.
  • Stringent regulatory standards for blood safety propel the adoption of robust diagnostic methods and quality assurance measures.
  • Advancements in identifying specific patient needs drive the trend towards personalized blood transfusion strategies, shaping market growth.

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Global Blood Transfusion Diagnostics Market: Regional Profile

  • North America, spearheaded by the United States, holds a dominant position due to advanced healthcare infrastructure and robust research initiatives. Rising incidences of chronic diseases and high healthcare spending drive the market for blood transfusion diagnostics, fostering technological innovations and a stringent regulatory landscape.
  • In Europe, particularly in countries like Germany and the United Kingdom, stringent safety standards and emphasis on blood safety bolster market growth. Progressive healthcare systems and proactive measures in blood screening and infectious disease detection contribute to the market’s maturity and reliability.
  • Asia Pacific emerges as a burgeoning market driven by countries like China and India. Increasing awareness, expanding healthcare infrastructure, and rising investments in healthcare contribute to market growth. The region’s efforts to improve blood safety and address transfusion-transmitted infections foster market expansion, indicating significant growth potential.

Blood Transfusion Diagnostics Market: Competitive Landscape

The blood transfusion diagnostics market displays robust competition among key players like Grifols, Bio-Rad Laboratories, and Ortho Clinical Diagnostics. Notable contenders such as Immucor, Quotient Limited, and DiaSorin contribute advanced technologies for blood typing, screening, and infectious disease detection.

Intensifying mergers, acquisitions, and strategic collaborations are prevalent strategies aimed at expanding product portfolios and global market presence. Continued emphasis on research and development fuels innovation in transfusion medicine, fostering a dynamic landscape.

Stringent regulatory compliance, technological advancements, and the pursuit of superior safety standards in blood transfusions remain focal points, driving competitive dynamics in this critical sector of healthcare. Some prominent manufacturers are as follows:

  • BAG Health Care GmbH
  • Abbott
  • Bio-Rad Laboratories, Inc.
  • F. Hoffmann-La Roche AG
  • DiaSorin S.p.A.
  • Grifols S.A.
  • Werfen
  • Hologic Inc.
  • Ortho Clinical Diagnostics
  • Alive Dx

Product Portfolio

  • Grifols S.A. specializes in healthcare solutions, offering a diverse portfolio encompassing plasma-derived medicines, diagnostics, and hospital supplies. Renowned for its commitment to enhancing patient care, the company delivers innovative therapies and diagnostic solutions globally, prioritizing excellence in the healthcare industry.
  • Werfen focuses on diagnostic healthcare, providing innovative solutions for laboratory diagnostics and in vitro diagnostics. Renowned for its advanced diagnostic instruments and reagents, the company empowers healthcare professionals with reliable tools, advancing precision medicine and patient outcomes.
  • Hologic Inc. excels in women’s health and diagnostics. Renowned for advanced imaging systems, diagnostic solutions, and surgical products, the company pioneers innovation in breast health, gynecology, and molecular diagnostics, ensuring superior patient care across diverse healthcare settings.

Blood Transfusion Diagnostics Market: Key Segments

By Product Type

  • Instruments
  • Kits & Reagents

By Application

  • Blood Grouping
  • Disease Screening
    • Molecular Disease Screening
    • Serological Disease Screening

By End User

  • Hospitals
  • Diagnostics Laboratories
  • Blood Banks
  • Plasma Fractionation Companies
  • Others

By Region

  • North America
  • Latin America
  • Asia Pacific
  • Europe
  • Middle East & Africa

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About Transparency Market Research

Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants use proprietary data sources and various tools & techniques to gather and analyses information.

Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.

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SOURCE Transparency Market Research

Originally published at https://www.prnewswire.com/news-releases/blood-transfusion-diagnostics-market-size-to-reach-usd-6-6-billion-at-a-5-0-cagr-by-2031—transparency-market-research-inc-302024370.html
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