Blood Transfusion Diagnostics Market

Blood Transfusion Diagnostics Market Outlook (2022 to 2032)

The global blood transfusion diagnostics market size was valued at US$ 4.42 Billion in 2021 and is expected to expand at a compound annual growth rate CAGR of 7% from 2022 to 2032.

The increase in growth is due to this market's demand and economic expansion, Blood transfusion diagnostics refers to tests conducted on blood and blood components prior to transfusion to patients.

Report Attribute	Details
Anticipated Base Year Value (2021)	US$ 4.42 Billion
Expected Market Value (2022)	US$ 4.73 Billion
Projected Forecast Value (2032)	US$ 8.7 Billion
Global Growth Rate (2022 to 2032)	7% CAGR
Expected Market CAGR of the U.S. Market (2032)	6.4%
Anticipated Market CAGR of Europe (2022 to 2032)	6.6%
Major Blood Transfusion Diagnostic Service Providers	Grifols S.A.; Bio-Rad Laboratories, Inc.; Immucor, Inc.; CSL Ltd.; Abbott Laboratories; F. Hoffmann-La Roche Ltd; QUOTIENT; Merck KGaA; DiaSorin S.p.A.

Revenue Analysis of Blood Transfusion Diagnostics from 2017 to 2021 Vs Market Projections for 2022 to 2032

For a few years, there has been an escalation in the demand for blood transfusions. This is due to an increase in the number of patients undergoing surgical procedures for chronic diseases such as aplastic anemia, sickle cell anemia, and leukemia. This has stimulated key players in blood banks and hospitals to concentrate on research and development for advanced instruments, assays, and kits.

The recent COVID-19 pandemic has provided opportunities for growth in the blood transfusion diagnostics market. In the United States, a series of plasma transfusion trials are being performed. The liquid medium is extracted from recovered patients and introduced to contaminated ones by practitioners.

This "convalescent plasma" is expected to enhance the immunity of cancer survivors. As a result of these trends, the global blood transfusion diagnostics market is anticipated to expand strongly during the forecast timeframe.

Which are Some Prominent Drivers of the Blood Transfusion Diagnostic Market?

Growing Demand for Blood and Blood Components to Generate Sales

The increasing prevalence of blood-related ailments such as hemophilia, cancer, thrombocytopenia, and others, as well as chronic kidney disease (CKD), has expanded the market for blood products and total blood transfusion.

Furthermore, the growing number of patients affected by anemia, which necessitates red blood cell transfusion for diagnosis, is predicted to push significant growth for blood transfusion diagnostics. As per World Health Organization (WHO) estimates, anemia affects approximately 1.62 billion individuals worldwide.

This, combined with increased awareness about blood safety from viral infections through various programs in both industrialized and developing countries, is driving up the consumption of blood screening tests and other diagnostic tools.

Transition to Automated Molecular Platforms to Boost Overall Growth

The adoption of innovative molecular platforms by leading companies accelerates the transition from manual tests and equipment to semi-automated and fully automated devices. These automated portals have been critical in sensing Transfusion Transmissible Infections (TTIs) in blood samples and can accurately eradicate human error during the transfusion procedure.

Thus, the introduction of such sophisticated automated systems has aided in the implementation of blood transfusion diagnostics and is anticipated to propel market expansion over the forecast period.

What are the Challenges Faced by the Blood Transfusion Diagnostic Market?

High Instrument Expenses and a Lack of Infrastructure are restricting Growth

Despite a growing prevalence of chronic blood diseases and increased requirements for blood products and transfusions, some aspects are impeding the market's expansion. One factor is insufficient investment in medical infrastructure and stringent regulatory policies, particularly in developing countries compared to industrialized nations.

Furthermore, the increased cost of tests, instruments, and reagents, combined with a lack of skilled employees to manage automated diagnostic solutions, is one of the aspects stifling the expansion of the blood transfusion diagnostics market over the coming years.

Comparative View of Adjacent Blood Transfusion Diagnostic Markets

Blood Transfusion Diagnostic Market :

Attributes	Blood Transfusion Diagnostic Market
CAGR (2022 to 2032)	7%
Market Value (2032)	US$ 8.7 Billion
Growth Factor	The growing number of patients affected by anemia, which necessitates red blood cell transfusion for diagnosis, is predicted to push significant growth for blood transfusion diagnostics.
Opportunity	Growing demand for advanced technologies that can improve accuracy, pace, and cost-effectiveness is presumed to be the most critical growth aspect over the forecast period.

Blood Cancer Diagnostics Market :

Attributes	Blood Cancer Diagnostics Market
CAGR (2022 to 2032)	6%
Market Value (2032)	US$ 28.57 Billion
Growth Factor	Developing-nation Demand for Blood Cancer Diagnostics and burgeoning Leukemia prevalence to strengthen market growth prospects over the forecast period.
Opportunity	Favorable reimbursement regulations enacted to improve healthcare infrastructure will establish opportunities for expansion in the blood cancer diagnostics market in emerging nations.

Which Regional Market is the Most Profitable for Blood Transfusion Diagnostic Manufacturers?

North America is set to maintain its position as the world leader in blood transfusion diagnostics. A high proportion of voluntary blood donors, as well as the integration of blood transfusion policies for safety and communicable disease testing, are critical growth factors. The North American market is projected to grow at a favorable CAGR of 6.4%, accounting for more than three-tenths of the overall market.

Asia-Pacific is predicted to grow the quickest, with a CAGR of 7.0%, accounting for more than two-fifths of the world's blood transfusion diagnostics market. This is due to the high incidence of TTIs in low-income countries, which generates higher demand for disease-screening techniques.

The existence of CE-approved instrument assays for serological and Nucleic Acid Test (NAT)-based practices in European countries is projected to propel in Europe.

Germany and the United Kingdom are major contributors to the European blood transfusion diagnostics market. The growing number of surgeries and transplantation methods can be attributed to the industry progress in these nations.

Transfusion procedures are tightly regulated in Germany. There are four kinds of organizations that provide blood services: state blood transfusion services, communal blood transfusion facilities, commercial blood centers, and plasmapheresis centers.

Country-wise Analysis

Why will the United States register high market revenue?

The high rate of surgical procedures for chronic illnesses is fueling growth

The United States is the largest contributor to the North American market. The growing number of surgical operations for chronic medical conditions is fueling the expansion of the blood transfusion diagnostics market in North America.

According to the American Red Cross Organization, 29,000 units of red blood cells, 5,000 units of platelets, and 6.500 units of plasma will be required daily in the United States by 2022. In the United States, 16 million blood components are transfused every year.

Orthopedic surgeries are among the most frequently performed operations in the world, as per data published by the American Academy of Orthopedic Surgeons in 2018. Thus, as the number of patients undertaking orthopedic surgeries grows, so does the demand for blood transfusion, bolstering the blood transfusion diagnostic market in the United States.

Which country in the Asia Pacific will dominate the regional market?

Emergence of an adequate healthcare service system to drive Market Growth

In 2022, China dominated the Asia Pacific blood transfusion diagnostics industry. The elevated usage of sophisticated technology in blood-related diagnoses, followed by a rise in the number of blood donation camps and blood banks in the nation, is credited to the market growth in China.

The country has enacted a blood donation law that permits voluntary unpaid blood donation, and donated blood can only be utilized for clinical practice. Despite disease outbreak constraints, China's National Health Commission registered 15.53 million blood donations in 2020.

As a result of the growing number of blood donations for clinical usage, there is a large market for blood transfusion diagnostics to monitor blood groups. Furthermore, swift economic growth allows for higher healthcare expenditures, allowing for the establishment of a decent healthcare service system through the use of technological innovations.

Country-wise Forecast CAGRs for the Blood Transfusion Diagnostic Industry

Country	CAGR
China	6.9%
U.S.	6.4%
Australia	5.6%
France	5.9%

Category-wise Insights

Which application segment will accelerate market growth?

Blood Grouping segment to Hold a Significant Position during the Forecast Period

During the projected period, the blood grouping segment will expand at a CAGR of 5.8%. The deployment of national blood transfusion regulations on blood typing and higher cost accessibility is expected to stimulate growth. During the forecast timeframe, the blood grouping segment is predicted to account for more than a quarter of the world's blood transfusion diagnostics market.

The blood grouping segment is forecast to expand as a consequence of the introduction of automated analyzers and growing preference for group typing and cross-matching tests before transfusion therapy to ensure donor and receiver blood sample adaptability.

Which Product Segment dominated the Market in 2021?

Kits & Reagents segment to witness demand due to Cost-Effectiveness

The global market is divided into two sections among products: instruments and, Kits & Reagents. Subjected to repeated sales of these products required for screening and blood group typing both donor and receiver samples, the Kits & Reagents segment accounted for the largest share in 2021.

Because of the higher cost and longer shelf existence of these instruments, the instruments segment accounted for a relatively low share in 2021. The Kits & Reagents segment is expected to grow rapidly during the projected timeframe.

Market Competition

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. are the leading market players in the global blood transfusion diagnostics market. These market participants are focused on implementing technological breakthroughs in testing procedures. Plasma fractionation is an example of such technological advancement.

• In October 2019, Ortho Clinical Diagnostics declared FDA approval for the usage of Ortho Sera on its VISION analyzer.
• EryPharm entered the market in April 2021 with an advanced technology that can produce red blood cells in large quantities and build innovative blood transfusion sources.
• F. Hoffmann-La Roche Ltd and Bio-Rad Laboratories, Inc. signed a global partnership agreement in March 2021 to provide customers with access to Bio-full Rad's line of InteliQ products and Unity QC data management solutions.

Key Segments Profiled in the Blood Transfusion Diagnostic Industry Survey

• By Product Type :

  • Instruments
  • Kits & Reagents

• By Application :

  • Blood Grouping
  • Disease Screening
  • Molecular Disease Screening
  • Serological Disease Screening

• By End User :

  • Hospitals
  • Diagnostic Laboratories
  • Blood Banks
  • Plasma Fractionation Companies
  • Others

• By Region :

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa