The intravenous delivery of blood or blood components into a person’s circulatory system is known as a blood transfusion. In a variety of medical situations, transfusions are typically used to replenish lost blood components. The rising rate of chronic and infectious diseases like cancer, severe anemia, liver disease, severe infection, sickle cell disease, haemophilia, kidney disease, and thrombocytopenia. As well as the introduction of technologically advance products, are two factors that are fueling the demand for blood transfusions.

The market for blood transfusions in 2021 was USD 6.7 billion. And by 2030 it will be worth USD 11.31 billion, growing at a 6% CAGR during the forecast period.

An increase in transfusions as a result of procedure, delivery, surgery. And auto accidents is driving the industry. Another element that has a significant impact on market expansion is the increase in blood donation activity. A lack of infrastructure and high instrument prices constrains the capacity for development in developing nations.

Market Dynamics

Drivers

The growing cases of blood-related disorder such as haemophilia, thrombocytopenia, cancer, and others, as well as chronic renal disease, have raised the demand for blood products and whole blood transfusions (CKD). Due to the growing number of anemic people who require red blood cell transfusion to treat their illness. The demand for blood transfusions is anticipated to increase. The rising demand for blood transfusions is a result of programs in develope and developing countries that have raised knowledge of the blood’s immunity to infectious diseases.

Restraints

According to the World Health Organization, the majority of children with thalassemia are born in low-income nations where it is difficult to get a blood transfusion, or it is only available to a small percentage of the population. Fever, bacterial and viral illness, allergic response, and blood-borne disease are all potential side effects of using a blood transfusion system will impede market expansion.

Opportunity 

The market for blood transfusions is expanding quickly because of the rise in technical improvements. One of the most cutting-edge research techniques is the utilization of stem cell technologies to produce lab-grown blood cells for human transfusion. Additionally, market participants should benefit from rising consumer knowledge. And rising acceptance of blood transfusion in emerging nations.

Market Segmentation 

By product

With a 65.8% revenue share in 2020, the reagents and kits segment led the market for blood transfusion diagnostics. The segment expansion has been significantly influence by the simple availability of items. And the repeated purchase of these products needed to screen donor and recipient sample. Another element influencing the segmental expansion is the accessibility of a large range of blood grouping, donor screening reagents, kits, and assays produce by international and local firms.

By Application 

With a 60.0% revenue share in 2020, the disease screening segment ruled the market for blood transfusion diagnostics. This is due to a high incidence of transfusion-transmitted infections, increase blood donation safety screening to maintain safe transfusion, rising technical improvements, and broad product portfolios provide by key market competitors.

By End-Use 

With a 38.9% revenue share in 2020, the blood banks segment ruled the market for blood transfusion diagnostics. This is because numerous illness screening. And blood-typing procedures were carried out prior to transfusion therapy. Through careful disease screening and adherence to regulatory norms, these institutions are increasingly ensuring the security of the blood supply. Blood type, Rh typing, unexpected RBC antibody screening. And infectious illness screening are a few common tests done on given blood in these end-use settings.

Regional Analysis

With a 40.1% revenue share in 2020, North America ruled the blood transfusion diagnostics market. The main drivers support the regional market are rising health consciousness, high disposable income, attractive reimbursement policies, and well-establish healthcare infrastructure. 43,000 pints of donated blood are utilized daily in the United States & Canada, per data from the Community Blood Center.

The blood transfusion diagnostics market will expand at the quickest rate in the Asia Pacific during the forecast period. Regional growth is driven by rising blood donation awareness. And the beginning of several campaigns in Australia and India.

Key Players 

  • Immucor Inc.
  • Fresenius Kabi
  • Macopharma SA
  • Grifols SA
  • Kaneka Corporation
  • Terumo Corporation
  • Haemonetics Corporation
  • Becton Dickinson
  • B. Braun Melsungen AG

The market for blood transfusions in 2021 was USD 6.7 billion. And by 2030 it will be worth USD 11.31 billion. Growing at a 6% CAGR during the forecast period. The U.S. FDA’s growing approval rate of blood transfusion diagnostics devices can be credited with this growth. The industry is anticipate to continue to grow due to the development of new technologies to facilitate blood donation and storage.

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