The blood screening market size was USD 2.8 billion in 2021 and it is anticipated to reach USD 5.5 billion in 2031, growing at a CAGR of 6.9% from 2022-2031.
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Blood screening is a medical process in which blood is examined for a specific disease or condition. It aids in monitoring disease and preventing health issue and a variety of other conditions such as infection and cancer. Human Immunodeficiency Virus (HIV), blood type, and pregnancy screenings are the most common types of blood screening.
Market Trends and Drivers
The key factor boosting the market growth is an increasing number of blood donations across the globe. There is an increase in the need for donated blood owing to advancements in healthcare systems and the availability of and the need for sophisticated surgical procedures, like cardiovascular & transplant surgery, trauma care, and therapy for cancer and blood diseases. On an average around 235 million major surgeries are being performed across the globe every year, of which 63 million are traumatic surgeries, cancer-related are over 31 million, and 10 million are related to pregnancy complications. Blood transfusion is generally prescribed in complicated childbirth to prepare for childhood congenital maternal blood disorders, acute anemia, and trauma.
Similarly, emerging markets such as India, the Middle East, and Africa offer promising opportunities for players in the blood screening industry owing to their rising disposable incomes and improving healthcare infrastructure. For example, according to Statista (August 2021), in 2017 India’s healthcare was worth about USD 160 billion, and it was anticipated to reach USD 372 billion by 2022 owing to rising income levels, increasing awareness about health, and the incidences of lifestyle diseases are growing year by year. Currently, the widely used technology in India is ELISA, because NAT registered relatively low penetration. Unlike the US, Canada, most of Europe, Japan, Korea, Singapore, Sri Lanka, the UAE, South Africa, Thailand, and China; NAT is still not mandatory in India. Almost 100 blood banks, comprising AIIMS, PGI Chandigarh, CMC Vellore, Medanta-The Medicity, and Narayana Hrudayalaya, are using NAT in ID-NAT format, whereas around 40 blood banks are using the pooling technique. So, an initiative is taken by the Indian government to train doctors, hospitals, and blood banks on using NAT.
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Market Restraints & Challenges
One of the primary challenges in the growth of the global blood screening market is the alternative technologies. Digital immunoassays are a one-step solution for single-molecule detection without requiring washing steps based on ELISA using an array of femtoliter-sized wells. In this assay, a biomarker molecule is conjugated with an antibody-coated magnetic microparticle seeded in a well, amplified via an enzyme reaction, and detected with fluorescence. These tests have seen significant interest owing to the urgent and ever-increasing demand for serological COVID-19 antibody tests that are inexpensive, rapid, simple, highly sensitive, quantitative, and minimally invasive. So, a single-step, wash-free immunoassay for rapid and highly sensitive quantitative analysis of human serological IgG against SARS-CoV-2 has been developed, which requires only a single droplet of serum.
Global Blood Screening Market Segmentation
The report analyses the blood screening market based on product & service, technology, end user, and region.
Global Blood Screening Market by Product & Services
On the basis of product & services, it is segmented into reagents & kits, instruments, and software and services. The reagents and kits segment is likely to dominate the market during the forecast period 2022-2031. The increase in blood transfusion procedures leads to the higher consumption and frequent use of reagents & kits in blood screening procedures. Is boosting the growth of the market.
Global Blood Screening Market by Technology
Based on technology, it is segmented into the nucleic acid test, ELISA, rapid tests, western blot assays, and next-generation sequencing. The nucleic acid test segment is likely to dominate the market in 2021. The key factors such as increasing adoption of NAT technology owing to higher sensitivity over other blood donations are boosting the growth of the market.
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Global Blood Screening Market by End User
Based on end user, it is segmented into blood banks and hospitals. The blood bank segment is likely to dominate the market during the forecast period. The increasing number of organ transplantation surgeries is boosting the growth of this segment during the forecast period.
Geographical Analysis of Global Blood Screening Market
Region-wise, it is studied across North America, Europe, Asia Pacific, and the Rest of the World. North America is accounted for the higher share of the blood screening market. The growth of the market is attributed to the increasing healthcare spending combined with the increasing prevalence of chronic disorders, the increasing healthcare spending, the increasing prevalence of chronic disorders, and the highly developed healthcare system in the US and Canada.
Major Players of the Global Blood Screening Market
The global blood screening market report comprises key players such as Grifols (Spain), F. Hoffmann-La Roche Ltd. (Switzerland), Abbott Laboratories, Inc. (US), bioMérieux (France), Bio-Rad Laboratories, Inc. (US), Becton, Dickinson and Company (US), Beckman Coulter, Inc. (Danaher) (US), DiaSorin (Italy), Siemens Healthineers (Germany), Thermo Fisher Scientific, Inc. (US), Ortho Clinical Diagnostics Inc. (US), GE Healthcare (US), Merck KGaA (Germany), PerkinElmer (US), Bio-Techne Corporation (US), GFE (Germany), Trinity Biotech (Ireland), Mindray (China), Maccura Biotechnology Co., Ltd. (China), Immucor, Inc. (US), Cellabs (Australia), Abnova Corporation (Taiwan), Enzo Biochem, Inc. (US), and Cepheid (US).
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