The increasing incidence of infectious diseases and the rise in the number of blood donations is expected to drive the market for Blood Screening
Market Size – USD 1.87 Billion in 2019, Market Growth – CAGR of 12.7%, Market trends – Growing prevalence of new pathogens.
New York, Aug 24, 2020 – The global Blood Screening Market is forecast to reach USD 4.86 Billion by 2027, according to a new report by Reports and Data. The primary driving factors for the growth of the blood screening market is an increase in the prevalence of infectious diseases, rise in healthcare awareness, growth in the number of blood donations, and surge in NAT (nucleic acid amplification test).
Moreover, support from the government for a better healthcare system and advancement in technology will propel the growth of the market. However, factors such as stringent regulatory approvals and lack of skilled professionals are hampering the industry’s demand.
Various factors are promoting the growth and demand for blood screening. One of these contributing factors is an increase in the rate of technological advancements in the healthcare industry. An increase in the demand for technologically advanced methods in context to sample extraction, preparation, testing, and amplification for nucleic acid-like RNA and DNA along with strategic agreements with manufacturers of renowned research institutions are promoting research activities, which is forecasted to have a positive impact on the market.
North America accounted for the leading market share, owing to the increased prominence of blood tests, along with a large number of R&D activities taking place in the region. Presence of well-established and equipped health care organizations, government efforts in promoting the use of disposable blood bags, and constantly developing sterility aspects are some of the factors that would further fuel growth in the region.
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The COVID-19 impact:
The market will witness a huge surge as biopharmaceutical innovators are in the front line for the human response to the global COVID-19 pandemic. A significant number of biotech firms are in the middle of the race to investigate the virus’s genome and are preparing a viable vaccine. These companies are investigating the virus at an unprecedented rate, and considerable funds are being put into the research. The companies are in trial, and the public and private sectors are working continuously for the development of the vaccine. There is a huge demand for testing kits for the diagnosis of Sars-Cov-2, which will foster the demand for the market.
Further key findings from the report suggest
- The reagent and kits segment held a significant share owing to the accessibility of a wide range of reagents and the need for specific, reliable, and fast detection of blood screening. The growing demand for blood transfusion for the treatment of blood disorders contributed to the demand of the industry.
- Nucleic acid testing (NAT) is a kind of molecular method deployed for in cases such as blood donations to screen the blood so as to decrease the danger of TTIs (transfusion-transmitted infections) in the individual receiving the blood. The main application of the nucleic acid test is associated with detecting viral RNAs and DNAs in a blood sample.
- Hospitals held a larger market share due to the high number of cases recorded there. The segment is forecasted to grow with a CAGR of xx% during the forecast period.
- Key participants include Danaher Corporation, Abbott Laboratories, Bio-Rad Laboratories, Inc., Becton, Dickinson and Company, F. Hoffmann-La Roche Ltd., Ortho-Clinical Diagnostics, Inc., Grifols, Siemens Healthcare GmbH, SOFINA S.A, and Thermo Fisher Scientific, Inc., among others.
Blood Screening Market Size, Share & Analysis, By Product and Services, By Technology, By End User, And Segment Forecasts To 2027, To identify the key trends in the industry, click on the link below: @ https://www.reportsanddata.com/report-detail/blood-screening-market
For the purpose of this report, Reports and Data have segmented the global Blood Screening Market on the basis of Product and Services, Technology, End-User, and region:
Product and Services Outlook (Revenue, USD Billion; 2017-2027)
- Reagents and Kits
- NAT Reagents and Kits
- Standards and Controls
- Buffers, Nucleotides, and Solutions
- Enzymes and Polymerases
- Probes and Primers
- Labeling and Detection Reagents
- ELISA Reagents and Kits
- Sample Diluents and Wash Solutions
- Rental Purchase
- Outright Purchase
- Software and Services
Technology Outlook (Revenue, USD Billion; 2017-2027)
- Fluorescent immunoassay
- Chemiluminescent Immunoassay
- Colorimetric Immunoassay
- Transcription-Mediated Amplification
- Real-time Polymerase Chain Reaction
- Western Blot Assays
- Rapid Tests
End-User Outlook (Revenue, USD Billion; 2017-2027)
- Blood Banks
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Regional Outlook (Revenue, USD Billion; 2017-2027)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
Table of Content:
Chapter 1. Market Synopsis
1.1. Market Definition
1.2. Research Scope & Premise
1.4. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2019-2027
Chapter 3. Indicative Metrics
Chapter 4. Blood Screening Market Segmentation & Impact Analysis
4.1. Blood Screening Market Material Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers analysis
18.104.22.168. Increasing demand for donated blood and rising number of blood donations
22.214.171.124. Rising prevalence of infectious diseases
4.2.3. Market restraints analysis
126.96.36.199. High Cost
4.3. Technological Insights
4.4. Regulatory Framework
4.5. ETOP Analysis
4.6. Porter’s Five Forces Analysis
4.7. Competitive Metric Space Analysis
About Reports and Data
Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client’s make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Power, and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise.
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