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The Blood Screening Market size is estimated to grow by USD 1,176.02 million at a CAGR of 7.42% between 2022 and 2027.
Blood screening is an essential process that ensures the safety of the blood supply by diagnosing potential infections or diseases in donated blood. Thus there is an increasing emphasis on comprehensive and efficient blood screening processes due to the increasing demand for blood transfusions. Additionally, the emergence of advancements in medical treatments surgeries, organ transplants, and trauma care has increased the demand for safe and compatible blood products fuelling the need for comprehensive blood screening. Furthermore, the increasing prevalence of chronic diseases and medical conditions may need surgeries or treatments with associated blood transfusions. Hence, such factors are positively impacting the market growth.
Technavio has segmented the market into component, end-user, and geography
It also includes an in-depth analysis of drivers, trends, and challenges. Our report examines historic data from 2017 to 2021, besides analyzing the current market scenario.
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The reagents and kits segment is estimated to witness significant growth during the forecast period. The reagents and kits segment is one of the crucial segments used in the laboratory testing process in order to screen donated blood for infectious diseases and ensure its safety for transfusion. Reagents can be referred to as substances or compounds utilized in laboratory tests to generate a chemical reaction with specific components in a sample, such as blood.
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The reagents and kits segment was the largest segment and was valued at USD 1,540.85 million in 2017. There is an increasing adoption of reagents in blood screening to detect the presence of antibodies, antigens, or other markers associated with infectious diseases. This segment is a crucial part of the testing process and is selected depending on its specificity, sensitivity, and reliability in detecting specific pathogens. Blood screening plays a major role in ensuring that donated blood is free from infectious diseases, including HIV, hepatitis B and C, syphilis, and other pathogens. Hence, such factors are expected to fuel the growth of this segment which in turn will drive the market growth during the forecast period.
It is essential for blood banks to ensure that donated blood is safe from infectious diseases, including HIV, hepatitis B and C, and other pathogens. the main purpose of screening is that it helps to identify and discard potentially contaminated units. There is an increasing need for blood for different medical procedures, such as surgeries, trauma care, cancer treatments, and more. Therefore, it is important to have proper screening which minimizes the risk of complications from transfusions. There is an increasing demand for blood screening in order to prevent the spread of these diseases through transfusions due to outbreaks of infectious diseases or emerging health threats. Hence, such factors are fuelling the growth of this segment which in turn will drive the market growth during the forecast period.
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North America is estimated to contribute 42% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that will shape the market during the forecast period. One of the main factors that is significantly contributing to the growth of the global blood screening market in North America is due to the growing popularity of blood screening reflects the increasing recognition of its importance in ensuring the safety of the blood supply and preventing the transmission of infectious diseases. The blood screening process mainly comprises testing donated blood for different pathogens and health conditions before it is used for medical treatments. Factors such as advancements in medical technology, increased awareness of blood safety, regulatory requirements, and healthcare needs are fuelling the blood screening demand in North America. Hence, such factors are expected to drive the market growth in the region during the forecast period.
In 2020, during the COVID-19 pandemic, the growth of the global blood screening market witnessed a significant slowdown as there was a significant drop in blood donations and collections at blood banks and donation centers due to lockdowns, travel restrictions, and social distancing measures in North America. However, in 2021, the initiation of large-scale vaccination drives lifted the lockdown and travel restrictions, which led to the resumption of operations in blood donation centers. Such factors are expected to drive the market during the forecast period
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Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market. The report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
BCAL Diagnostics Ltd: The company offers blood screening tests such as the BCAL test which is a lipid biomarker blood test with the potential to be used for breast cancer prevention, screening, and monitoring.
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
There are multiple factors influencing market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges.
A key factor shaping the blood screening market growth is the automation of the blood screening process. There is a significant transformation in the blood screening process due to the advent of automation such that it has enhanced efficiency, accuracy, and overall laboratory operations. Automated systems and robotics play a major role in different stages of the blood screening process, from sample processing to result analysis.
Moreover, the emergence of digital solutions for data management and integration is significantly contributing to enhancing the blood screening process. Some of these digital solutions include electronic health records, laboratory information systems, and data analytics for more efficient operations. Hence, such factors are positively impacting the market which in turn will drive the market growth during the forecast period.
High costs associated with the blood screening process are one of the key challenges hindering the blood screening market growth. The process of blood screening is essential for ensuring the safety of blood transfusions, but the cost associated with acquiring, implementing, and maintaining advanced screening technologies can pose a significant threat to healthcare systems and blood banks. In addition, the cost of reagents, kits, and consumables used in blood screening adds to the overall cost, especially for high-throughput screening processes.
Moreover, the initial cost can include state-of-the-art screening technologies comprising expensive equipment, instruments, and robotic systems. Furthermore, additional resources are required to maintain quality control standards, especially for r validation, monitoring, and compliance with regulatory guidelines which adds to the total costs. Hence, such factors are negatively impacting the market which in turn will hinder the market growth during the forecast period.
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The market report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Blood Screening Market Customer Landscape
The blood screening market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
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Blood Screening Market Scope |
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Report Coverage |
Details |
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Page number |
152 |
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Base year |
2022 |
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Historic period |
2017-2021 |
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Forecast period |
2023-2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 7.42% |
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Market growth 2023-2027 |
USD 1,176.02 million |
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Market structure |
Fragmented |
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YoY growth 2022-2023(%) |
6.5 |
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Regional analysis |
North America, Europe, Asia, and the Rest of the World (ROW) |
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Performing market contribution |
North America at 42% |
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Key countries |
US, Canada, Germany, UK, and China |
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Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Apollo Hospitals Enterprise Ltd., Aster Clinical Lab LLP, BCAL Diagnostics Ltd., Becton Dickinson and Co., Bio Rad Laboratories Inc., Dr Lal PathLabs Ltd., Eurofins Scientific SE, F. Hoffmann La Roche Ltd., Grifols SA, Harley Street Health Checks UK Ltd., Hemogenomics Pvt. Ltd., Laboratory Corp. of America Holdings, Mankind Pharma Ltd., Metropolis Healthcare Ltd., QuidelOrtho Corp., Siemens Healthineers AG, Syantra Inc., Thermo Fisher Scientific Inc., and Vijaya Diagnostic Centre 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, and 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 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Component
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 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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