Blood Transfusion Diagnostics Market Size to Surpass USD 8.7 billion by 2030, exhibiting a CAGR of 7% | We Market Research

Blood Transfusion Diagnostics Market Size to Surpass USD 8.7 billion by 2030, exhibiting a CAGR of 7% | We Market Research
The blood transfusion diagnostics market accounted for USD 4.73 billion in 2022 with a considerable CAGR of 7% during the forecast period of 2023 to 2030.

The Blood Transfusion Diagnostics Market is valued at around USD 4.73 billion in 2022 and is expected to reach USD 8.7 billion by 2030, registering a CAGR of 7% over the forecast period. Transfusion of blood is the process of giving blood—either as a whole or as a component of blood—by intravenous means to another person. Red blood cells, white blood cells, platelets, plasma, and clotting factors are all parts of blood. Before being given from one person to another, blood must be examined because it could transmit an infection or blood-borne diseases like post-transfusion purpura, anaphylaxis, delayed hemolytic reactions, and febrile non-hemolytic reactions.

The worldwide market for blood transfusion diagnostics is growing quickly in the changing healthcare environment due to a rise in the number of patients seeking these treatments as well as an increase in the frequency of blood-related disorders that necessitate transfusions. Anemia and thrombocytopenia are becoming more common, making accurate, secure, and effective blood transfusion diagnostics essential. An in-depth analysis of the trends and variables affecting this significant healthcare sector is provided by this market report.

In addition to these healthcare-related factors, rising blood donation awareness and improved blood drive promotion campaigns support the market’s expansion. The industry is also being driven by significant government initiatives, higher R&D spending, and technological developments. This research provides a thorough insight of the changing product needs, emerging applications, and worldwide revenue trends in the blood transfusion diagnostics market through an analysis of these factors.

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Growth Factor

The market for blood products and total blood transfusions has grown as blood-related diseases like haemophilia, cancer, thrombocytopenia, and others are becoming more common, as is chronic kidney disease (CKD). Additionally, it is anticipated that the demand for blood transfusion diagnostics will grow significantly due to the rising number of anaemic patients who require red blood cell transfusion for diagnosis. The demand for blood screening tests and other diagnostic tools is rising as a result of increased awareness about blood safety from viral infections thanks to numerous programmes in both industrialised and developing nations.

The Blood Transfusion Diagnostics Market – Trends

• Dialysis is a kidney failure treatment that purifies the blood to get rid of extra fluid, toxins, and waste.

• The body may have trouble cleansing the blood and maintaining the chemical balance of the body when the kidneys fail.

• This is anticipated to increase demand for these blood transfusion diagnostics during the anticipated time frame.

• The primary cause of death worldwide, according to the World Health Organization, is chronic cardiovascular disease. In addition, cardiovascular disease claimed the lives of about 18 million people.

The Blood Transfusion Diagnostics Market – Segmentation

The Blood Transfusion Diagnostics Market fragrance concentrates market has been sub-classified into product type, application, end-user.

On the basis of products, the Blood Transfusion Diagnostics Market is bifurcated into:

• Instruments • Reagents and kits

• Others

On the basis of applications, the market is segmented into:

• Blood group typing

• Blood screening

• Others

On the basis of end-user, the market segmented into:

• Hospital based laboratories

• Blood banks

• Others

The Blood Transfusion Diagnostics Market –Regional Analysis

North America dominated the global Blood Transfusion Diagnostics Market, is expected to continue to lead the world in blood transfusion diagnostics. Important growth factors include a high percentage of voluntary blood donors and the incorporation of blood transfusion policies for safety and communicable disease testing. Major players in the European blood transfusion diagnostics market include Germany and the UK. The development of the medical industry in these countries is responsible for the rise in surgical procedures and transplantation techniques.

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The Blood Transfusion Diagnostics Market – Key Market players

Global key players of Blood Transfusion Diagnostics Market include Grifols S.A., Bio-Rad Laboratories, Inc., Immucor, Inc., CSL Ltd., Abbott Laboratories, F. Hoffmann-La Roche Ltd, QUOTIENT, Merck KGaA, and DiaSorin S.p.A., and others.

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