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The blood-grouping reagents market share is expected to increase by USD 485.33 million from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 9.19%.
The blood-grouping reagents market research report provides valuable insights into the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers market segmentation by end-user (hospitals and blood banks, clinical laboratories, and academic and research institutes) and geography (North America, Europe, Asia, and Rest of World (ROW)).
The market report also offers information on several market vendors, including Agena Bioscience Inc., Alpha Laboratories, Arena BioScien, Atlas Medical GmbH, AXO Science, BAG Health Care GmbH, Beckman Coulter Inc., Bio Rad Laboratories Inc., DIAGAST SAS, Grifols SA, Haemokinesis Ltd., Immucor Inc., Lorne Laboratories Ltd., Medical Diagnostics Corp., Merck KGaA, Novacyt SA, Ortho-Clinical Diagnostics Inc., Quotient Ltd., Rapid Labs Ltd., Torax Biosciences Ltd., and Tulip Diagnostics Pvt. Ltd. among others.
Atlas Medical GmbH is a privately held company headquartered in Germany. It is a global company, with limited information regarding its financials and limited information regarding its employee strength is available. Its revenue from the global blood-grouping reagents market contributes to its overall revenues along with its other offerings, but it is not a key revenue stream for the company. The company offers blood grouping reagents which are used for the identification of blood types and the test procedure is based on the agglutination principle, under the brand name Atlas.
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Technavio categorizes the global blood-grouping reagents market as a part of the global life sciences tools and services market. Our research report extensively covers external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the blood-grouping reagents market during the forecast period.
Based on our research output, there has been a neutral impact on the market growth during and post-COVID-19 era. The increasing prevalence of chronic disorders is notably driving the market growth, although factors such as risks associated with blood transfusion may impede the market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Key Market Driver
One of the key factors driving growth in the market is the increasing prevalence of chronic disorders. In recent years, the increasing prevalence of chronic diseases such as diabetes and cancer among people is leading to a rise in demand for early diagnosis for better patient care. Also, chronic diseases such as cardiac diseases and diabetes are the leading cause of death and disability in the US. Blood group testing is required for cancer patients as they may require blood transfusion for the treatment. Blood products such as platelets used for treating cancer patients have a short shelf life, which increases their demand. It is also imperative for doctors and surgeons to identify the biochemical composition of blood group antigens of the patient to establish a relationship between the blood type biochemistry and the risk of disease to identify druggable targets. Hence, the rise in the prevalence of chronic diseases, coupled with the demand for early diagnosis through blood grouping, has significantly led to the growth of the market.
Key Market Trend
The risks associated with blood transfusion will be a major challenge for the market during the forecast period. Blood transfusion plays a major role in replacing the blood lost during surgeries, injuries, or due to chemotherapy drug effects among cancer patients. Also, RBC, WBC, plasma, or platelet transfusions make patients susceptible to chronic diseases and bleeding disorders. However, this procedure involves the risk of complications during or post-transfusion. Some of the risks and complications associated with blood transfusion include acute immune hemolytic reaction, wherein the immune system attacks the transfused RBCs if the donor blood type is not a good match. The delayed hemolytic reaction is another risk leading to a decrease in RBCs level over time. Excessive blood transfusions also cause the buildup of a high amount of iron in the blood, which damages the liver, heart, and other parts of the body. Hence, the complications and risks arising because of blood transfusion are restricting the blood transfusion, which, in turn, is affecting the demand for blood grouping reagents.
Key Market Challenge
The emergence of social media marketing is another factor supporting market share growth. In the increasingly interconnected world, social media is playing an important role in building better communication. Social media is an innovative and collaborative platform for present-day activism. The use of various online platforms, including Facebook, has been increasing globally. Owing to such popularity, social media marketing and e-commerce are booming across industries, including the healthcare industry. The recruitment of safe blood donors is a challenging task. More people need to come forward and realize the importance of blood donation as a responsibility. Blood donor organizations also play an important role in this effort as blood banks and hospitals alone cannot bear healthcare facilities without such donors. For instance, Facebook can also be potentially used to sign up as a donor and connect with organizations in need. Such social media platforms make people aware of the necessity of blood and help in encouraging the maximum number of people to donate blood. This will
This market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Our In-house experts produce extensive information on the value chain and parent market of the blood-grouping reagents market, which vendors can leverage to gain a competitive advantage during the forecast period. The Value Chain information provides an end-to-end understanding of product insight and profit and also optimization and evaluation of business strategies. The players across the value chain include selective data and analysis from entire research findings as per the scope of the report.
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46% of the market's growth will originate from North America during the forecast period. US and Canada are the key markets for blood-grouping reagents in North America. Market growth in this region will be faster than the growth of the market in the European and ROW regions.
The sales of approved blood grouping reagents for blood group typing and the increasing prevalence of various chronic conditions and cancer types will facilitate market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
The growing number of COVID-19 cases in 2020 led to a rise in the demand for blood grouping reagents to diagnose the coronavirus strains and for the development of possible treatments. This increased the sales of blood grouping reagents in 2020 in North America. However, the resumption of research studies since Q4 2020 is expected to drive the growth of the regional blood grouping reagents market during the forecast period.
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The market share growth by the hospitals and blood banks segment will be significant during the forecast period. The hospitals and blood banks segment holds the largest share of the global blood grouping reagents market, owing to the high use of these reagents in hospitals and blood banks due to increased demand for blood transfusion. This high demand can be primarily attributed to increasing hospitalizations for cancer treatment and other chronic conditions and increasing emergency cases such as road accidents. Hence, blood grouping reagents find extensive application in emergency departments, urgent care centres, and intensive care units (ICU) of hospitals.
This report provides an accurate prediction of the contribution of all the segments to the growth of the blood-grouping reagents market size and actionable market insights on the post-COVID-19 impact on each segment.
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Blood-Grouping Reagents Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2021 |
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Forecast period |
2022-2026 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 9.19% |
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Market growth 2022-2026 |
$ 485.33 million |
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Market structure |
Fragmented |
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YoY growth (%) |
7.31 |
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Regional analysis |
North America, Europe, Asia, and Rest of World (ROW) |
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Performing market contribution |
North America at 46% |
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Key consumer countries |
US, Canada, UK, France, and Japan |
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Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
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Key companies profiled |
Agena Bioscience Inc., Alpha Laboratories, Arena BioScien, Atlas Medical GmbH, AXO Science, BAG Health Care GmbH, Beckman Coulter Inc., Bio Rad Laboratories Inc., DIAGAST SAS, Grifols SA, Haemokinesis Ltd., Immucor Inc., Lorne Laboratories Ltd., Medical Diagnostics Corp., Merck KGaA, Novacyt SA, Ortho-Clinical Diagnostics Inc., Quotient Ltd., Rapid Labs Ltd., Torax Biosciences Ltd., and Tulip Diagnostics Pvt. Ltd. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by End-user
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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