Blood Screening Market to reach USD 5.07 Bn at a CAGR of 8.2 percent by 2030- Says Maximize Market Research

Blood Screening Market to reach USD 5.07 Bn at a CAGR of 8.2 percent by 2030- Says Maximize Market Research
Blood Screening Market
Blood Screening Market CAGR is expected to be 8.2% during the forecast period and the market size is expected to reach nearly US$ 5.07 Bn. by 2030.

Maximize Market Research, a leading Electronics business consultancy and research firm has published a report on the “Blood Screening Market. The total market opportunity for Blood Screening Market was USD 2.92 Bn in 2023 and is expected to grow at a CAGR of 8.2 percent through the forecast period, reaching USD 5.07 Bn by 2030. As per the Maximize Market Research report, the global Blood Screening Market is expected to be dominated by the Asia-Pacific region to grow significantly over the forecast period.

Blood Screening Market Scope and Research Methodology

Market Size in 2022: USD 2.92 Bn

Market Size in 2029: USD 5.07 Bn

CAGR: 8.2 Percent

Forecast Period: 2024-2030

Base Year: 2023

Number of Pages: 222

No. of Tables: 130

No. of Charts and Figures: 193

Segment Covered: By Technology, Product & Service, and End-User

Regional Scope: North America, Europe, Asia Pacific, and Africa, South America

Report Coverage: Market Share, Size and Forecast by Revenue | 2023−2030, Market Dynamics, Growth Drivers, Restraints, Investment Opportunities, and Key Trends, Competitive Landscape, Key Players Benchmarking, Competitive Analysis, MMR Competition Matrix, Competitive Leadership Mapping, Global Key Players’ Market Ranking Analysis.

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To comprehensively analyse the blood screening market, a mixed-method approach is proposed. Initially, a thorough literature review will be conducted to gather existing knowledge and insights from academic papers, industry reports, and market analyses. This will provide a foundational understanding of the market dynamics, including technological advancements, regulatory frameworks, and emerging trends. Following the literature review, primary research will be conducted through market surveys and interviews with key stakeholders, including healthcare professionals, blood screening equipment manufacturers, regulatory authorities, and end-users. These interviews will provide first-hand information on market trends, challenges, and opportunities, allowing for a deeper understanding of the current landscape and future prospects of the blood screening market.

Blood Screening Market Overview

Blood screening involves extracting a sample of blood from the body to analyse its contents, including substances or cells. This process is crucial for disease monitoring, health issue prevention, and detection of various conditions like infections and cancer. Common types of blood screening tests include those for HIV, blood type, and pregnancy. Blood donor screening serves as a defence mechanism against infection spread before blood donation.

The market for blood screening is poised for growth due to factors such as increased prevalence of infectious diseases, heightened healthcare awareness, rising blood donation rates, and adoption of nucleic acid amplification tests (NAT). However, challenges such as competition from alternative techniques, insufficient donation relative to demand, and high costs of kits and instruments may hinder market expansion.

Blood Screening Market Dynamics

The prevalence of infectious diseases such as HIV/AIDS, hepatitis, and malaria fuels demand for screening tests to ensure transfusion safety. Secondly, continuous technological advancements, including nucleic acid amplification tests (NAT) and automation, enhance screening efficiency and accuracy. Thirdly, rising healthcare awareness encourages early disease detection and preventive measures, driving adoption of screening tests. Moreover, increased blood donation rates, stringent regulatory mandates, and the growing geriatric population further stimulate market growth by ensuring blood safety, meeting demand, and enhancing diagnostic capabilities.

The blood screening market is further driven by the increased prevalence of infectious diseases, including emerging pathogens, heightening the need for robust screening protocols to safeguard transfusion recipients. Additionally, advancements in screening technologies, such as multiplex assays and rapid testing platforms, offer greater sensitivity and specificity, improving diagnostic capabilities and accelerating turnaround times. Moreover, initiatives aimed at expanding access to healthcare services, coupled with the proliferation of blood donation campaigns and awareness programs, contribute to a steady influx of blood samples for screening. Furthermore, regulatory mandates mandating stringent quality control measures and the implementation of universal blood screening protocols across healthcare systems worldwide serve as catalysts for market growth, ensuring the reliability and safety of blood products for transfusion.

Blood Screening Market Regional Insight

The blood screening market exhibits regional variations driven by factors such as healthcare infrastructure, regulatory frameworks, disease prevalence, and economic conditions. In developed regions like North America and Europe, well-established healthcare systems and stringent regulatory standards contribute to a mature market landscape characterized by high adoption of advanced screening technologies and comprehensive blood safety protocols. In contrast, emerging economies in Asia-Pacific, Latin America, and Africa experience dynamic market growth fuelled by expanding healthcare access, increasing awareness of blood-borne diseases, and rising blood donation rates. Moreover, government initiatives aimed at strengthening healthcare infrastructure and enhancing blood safety further stimulate market growth in these regions. However, challenges such as limited resources, infrastructure disparities, and regulatory complexities may hinder market development in some emerging markets. Overall, regional variations in the blood screening market reflect a complex interplay of socioeconomic, demographic, and regulatory factors shaping market dynamics across different geographies.

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Blood Screening Market Segmentation

By Technology:

  • Nucleic Acid Test (NAT)
  • Transcription-mediated Amplification (TMA)
  • Real-time Polymerase Chain Reaction (PCR)
  • Enzyme-linked Immunosorbent Assay (ELISA)
  • Platform
  • Chemiluminescence Immunoassay (CLIA)
  • Fluorescence Immunoassay (FIA)
  • Colorimetric Immunoassay (CI)
  • Generation
  • First Generation
  • Second Generation
  • Third Generation
  • Fourth Generation & Above
  • Rapid Tests
  • Western Blot Assay
  • Next-generation Sequencing (NGS)

Nucleic acid tests (NAT) and enzyme-linked immunosorbent assay (ELISA) collectively held largest share of the market in 2023, with NAT expected to grow at a 3.4 percent rate in the future owing to its high sensitivity and specificity for viral nucleic acid detection. Regarding products and services, reagents & kits and enzymes and polymerases products are projected to account for xx% of the market share during the forecast period from 2024 to 2030.

By Product & Service:

  • Reagents & Kits
  • NAT Reagents & Kits
  • Enzymes and Polymerases
  • Standards and Controls
  • Probes and Primers
  • Buffers, Nucleotides, and Solutions
  • Labeling and Detection Reagents
  • ELISA Reagents & Kits
  • Immunosorbents
  • Controls
  • Conjugates
  • Substrates
  • Sample Diluents and Wash Solutions
  • Other Reagents & Kits
  • Instruments
  • Rental Purchase
  • Outright Purchase
  • Software and Services

By End User:

  • Blood Banks
  • Hospitals

Blood Screening Market Key Players

  • Abbott Laboratories
  • Grifols
  • Mylab Discovery Solutions
  • Sight Diagnostics
  • Huna
  • Thermo Fisher Scientific, Inc.
  • Roche Diagnostics
  • Bagmo
  • Manzil Healthcare
  • Labi Exames
  • Bio-Rad Laboratories, Inc
  • bioMérieux
  • Cordlife Group
  • UDoTest
  • Becton
  • Dickinson, and Company
  • siemens-healthineers
  • Orange Health Labs
  • asima
  • grifols Antibody (china)                                                             
  • Enzo Biochem Inc
  • BARDiag
  • Mirvie
  • Hologic Inc

Key questions answered in the Blood Screening Market are:

  • What is Blood Screening?
  • What is the current growth rate of the Blood Screening Market?
  • Who are the key players in the Blood Screening Market?
  • What are the factors affecting growth in the Blood Screening Market?
  • Who held the largest market share in Blood Screening Market?
  • What is the demand pattern for the Blood Screening Market?
  • What are the key trends in Blood Screening?
  • What are the strategies used by competitors in the Blood Screening Market?
  • What are the growth prospects in developing countries for the Blood Screening Market?
  • Which segment is expected to witness the fastest growth and why in the Blood Screening Market?

Key Offerings:

  • Past Market Size and Competitive Landscape (2018 to 2022)
  • Past Pricing and price curve by region (2018 to 2022)
  • Market Size, Share, Size & Forecast by different segment | 2023−2030
  • Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by region
  • Market Segmentation – A detailed analysis by Technology, Product & Service, and End-User and Region
  • Competitive Landscape – Profiles of selected key players by region in a strategic perspective
    • Competitive landscape – Market Leaders, Market Followers, Regional player
    • Competitive benchmarking of key players by region
  • PESTLE Analysis
  • PORTER’s analysis
  • Value chain and supply chain analysis
  • Legal Aspects of business by region
  • Lucrative business opportunities with SWOT analysis
  • Recommendations

Maximize Market Research is leading Healthcare research firm, has also published the following reports:

Blood and Organ Bank MarketThe Semiconductor Market size was valued at USD 16.67 Bn in 2023 and is expected to reach USD 25.06 Bn by 2030, at a CAGR of 5.4 percent. Government initiatives and policies aimed at promoting awareness about blood and organ donation have indeed been instrumental in driving the growth of the Blood and Organ Bank Market. In 2022 and 2023, governments around the world allocated substantial funds towards these initiatives, reflecting their commitment to addressing the shortage of blood and organs for transplantation.

Blood Culture Tests MarketGlobal Semiconductor Components Market size was valued at USD 5.33 Bn in 2023 and is expected to reach USD 11.50 Bn by 2030, at a CAGR of 11 percent over the forecast period. Increased government initiatives for the development and manufacture of blood culture test products, increase in healthcare awareness to reduce the risk of infectious diseases, rise in demand for blood culture tests and growing investment in R&D activities by various healthcare companies all contribute to the market’s growth.

About Maximize Market Research:

Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.

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