Blood Screening Market Size, Share, Growth Analysis, By Product Type (Reagents & Kits, Instruments), By Technology (Nucleic Acid Test (NAT), Rapid Tests), By End User (Hospitals & Clinics, Diagnostic Centers), By Region - Industry Forecast 2024-2031


Report ID: SQMIG35J2044 | Region: Global | Published Date: August, 2024
Pages: 219 |Tables: 64 |Figures: 77

Blood Screening Market Insights

Global Blood Screening Market size was valued at USD 3.04 Billion in 2022 and is poised to grow from USD 3.30 Billion in 2023 to USD 6.33 Billion by 2031, at a CAGR of 8.50% during the forecast period (2024-2031). 

The growing demand for safe blood worldwide along with technological advancements in screening technologies is molding this industry's future. The overall healthcare ecosystem all over the globe is heavily reliant on the screening technologies sector by incorporating market trends, challenges, and prospects. Primarily, the blood screening market is being driven forward by the increased rate of blood donation globally. The more people donate blood, the more meticulous screening procedures become a necessity in ensuring the blood is safe to be used. Due to this surge in contributions, screening methods are being adopted in blood banks and medical facilities to properly manage it. This is particularly true in countries with long-standing government support for blood collection initiatives, as increased donations are partly supported by superior facility infrastructure and public sensitization. Recent advanced blood tests for infections are very much in demand owing to the rising volumes of donations as they are required to ensure that transmitted blood does not harbor infectious organisms and thus ensures receiver safety.

Public health remains not entirely unconcerned about the spread of infectious diseases, especially in regions with a lack of good access to high-tech healthcare delivery. Its necessity for stricter blood screening techniques has been highlighted by the increasing prevalence of diseases such as HIV, hepatitis B and C, and the Zika virus. Since blood transfusion is one of the many routes through which these infectious diseases are transmitted, governments and institutions that take care of patients are becoming more conscious about adopting more efficient blood screening technology. Consequently, chemiluminescence immunoassays (CLIA), nucleic acid amplification tests (NAT), and other ultra-sensitive techniques have become the common tools used in most blood screening centers.

US Blood Screening Market is poised to grow at a sustainable CAGR for the next forecast year.

Market Snapshot - 2024-2031

Global Market Size

USD 3.06 Billion

Largest Segment

Reagents & Kits

Fastest Growth

Software

Growth Rate

8.50% CAGR

Global Blood Screening Market ($ Bn)
Country Share for North America Region (%)

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Blood Screening Market Segmental Analysis

Global Blood Screening Market is segmented based on product type, technology, end users, and region. Based on product & service, the market is segmented into Reagents & Kits [NAT Reagents & Kits, ELISA Reagents & Kits, Other Reagents & Kits], Instruments [Rental Purchase, Outright Purchase], Software & Services. Based on technology, the market is segmented into Nucleic Acid Test (NAT) [Transcription-mediated Amplification (TMA), Real-time Polymerase Chain Reaction (RT-PCR)], Serology/Immunoassay [Chemiluminescent Immunoassays (CLIA), Fluorescent Immunoassays (FIA), Colorimetric Immunoassays/ELISA (CI/ELISA)], Rapid Tests, Western Blot Assays, Next-generation Sequencing (NGS). Based on end user, the market is segmented into hospitals & clinics, diagnostic centres, and blood banks. Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.  

Blood Screening Market Analysis by Product Type 

With a probable market share of almost 73.0% in 2023, the reagent segment is expected to grow at a strong compound annual growth rate (CAGR) of 12.0% during the period. This is because a need for high specificity and accuracy was being felt in identifying and determining different components from tiny sample sizes, particularly important for efficient blood screening. The reagent market comprises a broad range of solutions, products, and chemical, biological, and immunological reagents specifically manufactured for blood analysis. Reagents are considered cheap to their users, thereby widening their usage while returning a good payback to the suppliers. The reagent market is ideally well-positioned for long-term growth if health care focuses on precise diagnosis. 

Even though the reagent segment leads in terms of market share, the instruments segment is expected to grow rapidly, due to advancements in technology and the demand for effective blood screening solutions. Blood screening equipment forms an important part of result accuracy and patient improvement. Improved designs are making these devices more user-friendly and convenient, so it can be expected that there will be increased demand for them. The segment is, however, one where some of the challenges are encountered because of the high pricing of some devices and their reusable nature, which may discourage some customers. Despite those limitations, long-term growth in this market probably will be driven by continued development of more effective and competitively priced products. 

Blood Screening Market Analysis by End User 

Hospitals and clinics dominate the blood screening market since the applications of blood testing products range from routine blood transfusions to diagnosis of infectious illnesses and monitoring various disorders associated with blood. This segment is critical to maintaining patient health besides ensuring successful treatment outcomes. If medical doctors emphasize early detection and prevention, the demand for reliable blood screening solutions will keep increasing. Hospitals and clinics are going to keep on investing in advanced blood screening technology, which would further the capabilities to provide the highest quality care to patients, and it is estimated to witness a CAGR of approximately 9.1% during the forecast period. 

Diagnostic centers are predicted to be the fastest-growing segment in the blood screening market over the forecast period. These specialty centers provide a range of services, from blood screening tests to the exclusive focus in diagnostic testing. Diagnostic centers are gaining importance as integral players in the healthcare arena because of the increasing need for accurate and timely diagnostic services. With this kind of ability to deliver rapid results and testing options suited to individual needs, they are all set to assume a vital role in the effective management of patient care. With its ability to catalyze innovation and efficiency in blood screening, diagnostic centers are expected to add further to rising fast.

Global Blood Screening Market By Product Type

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Blood Screening Market Regional Insights

North America was dominant and accounted for the largest share of 39.0% in 2023, mainly because of the presence of big industry players, rising adoption of blood screening procedures, stringent FDA restrictions for transfusions, and further affordability by patients. At present, the US leads the market due to the local presence of major firms like Abbott, Danaher, and Roche Diagnostics. Their sustained supremacy can be owed, to some extent, to the availability of a robust R&D infrastructure and benign reimbursement laws. The American Cancer Society reports the projected 609,360 cancer deaths and 1,918,030 new cancer cases in the US in 2022. In the US, approximately 6.8 million people donate blood every year. These factors are predicted to drive sustained American supremacy into the future.  

Asia-Pacific is expected to expand at the fastest CAGR of 13.5% through the forecast period due to growing patient affordability, growing awareness of blood donation, and attention of major industry participants toward developing nations in the area. In Asia Pacific, China, Japan, India, Singapore, and Australia are some of the key contributors. Estimated blood donations: 15.7 million in China compared with 12.7 million in India in 2020.

The Indian market is very different from the Asia Pacific markets such as in China and Japan, since the Indian market is not regulated with a string of rules in most other countries and mostly imports materials and equipment. Its market therefore registers tremendous growth due to increasing investments by foreign and private companies that can help deliver efficient testing at lower costs. Adoption of blood screening techniques happens faster in India simply because of the country's well-set network of clinical laboratories and hospitals.

Global Blood Screening Market By Region
  • Largest
  • Fastest

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Blood Screening Market Dynamics

Blood Screening Market Drivers 

Increasing Prevalence of Infectious Diseases 

  • Advancements in infectious diseases, particularly increases in bacterial and viral infections, have mainly driven the demand for blood testing. There has been a growing increase in the use of blood tests by clinical professionals, while public health concerns continue to change as part of efforts to monitor disease outbreaks and ensure safe blood transfusions. This trend can be ascribed to increasing awareness of blood-borne infections and the significance of early diagnosis, which propels hospitals and clinics to spend on high-technology blood screening equipment. Over the next couple of years, the blood screening market is expected to continue this growth trajectory due to the push toward safety and preventive care. 

Advancements in Technology 

  • Blood screening technology is built at a very rapid pace; that's yet another major factor fueling the growth of the market. Inventions in molecular diagnostics, point-of-care testing devices, and automated testing systems boost blood test accuracy, speed, and efficiency. That way, technological advances not only speed up diagnosis times but lower the possibility of human mistake, hence making blood testing safer and more dependable. The demand for innovative blood screening solutions is expected to rise exponentially with the advancement of healthcare institutions in fully implementing such cutting-edge technologies to ensure better patient care and efficient operation. 

Blood Screening Market Restraints 

Solutions for Blood Screening Devices Are Costly 

  • One of the main restraints to the blood screening market is that advanced screening tools and technology prove to be too expensive. For instance, it may prove difficult for most healthcare facilities, especially those in developing countries, to afford the pricey blood-screening equipment they need. This means such health facilities would not fully be able to implement comprehensive testing procedures. Cost therefore becomes a limiting factor for market growth as it will prevent the widespread adoption of critical technology.  In addition, the maintenance and operation costs of such equipment might be expensive, hence making it hard for the healthcare providers to know what progresses about the blood screening. 

Regulatory Challenges 

  • The rules and regulations set by the health administrators are the next problem that besets the blood screening market. Manufacturers and service providers find it hard to adhere to such regulations since it calls for time and money-consuming practices. New testing techniques will involve long procedures that must be passed for approval, meaning high-tech products may take longer to hit the markets. In addition, there would be additional strain on resources as there is the need to continue to fund training and quality assurance to ensure that a business continues to be compliant. Regulatory barriers of this kind risk deterring small-scale businesses from entering the market.

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Blood Screening Market Competitive Landscape

Success in the fragmented blood screening market largely depends on adaptability, innovation, and strategic partnerships. Companies that have an investment in next-generation technologies, for instance automated screening systems, molecular diagnostics, are predicted to form the industry leaders. Strategic moves involve expanding the global footprint, targeting the developing world, and partnered arrangements with the governments and practitioners. This is going to require keeping up with regulatory compliance and the growing demand for point-of-care testing if GERP is going to remain strong in the market.

Top Player’s Company Profiles in Blood Screening Market

  • Abbott Laboratories (USA) 
  • Becton, Dickinson and Company (USA) 
  • Bio-Rad Laboratories, Inc. (USA) 
  • bioMérieux SA (France) 
  • F. Hoffmann-La Roche Ltd. (Switzerland) 
  • Grifols, S.A. (Spain) 
  • Hologic, Inc. (USA) 
  • Immucor, Inc. (USA) 
  • Meridian Bioscience, Inc. (USA) 
  • Ortho Clinical Diagnostics (USA) 
  • Quotient Limited (UK) 
  • Siemens Healthineers AG (Germany) 
  • Sysmex Corporation (Japan) 
  • Thermo Fisher Scientific Inc. (USA) 
  • Danaher Corporation (USA) 
  • Grifols Diagnostic Solutions Inc. (USA) 
  • Haemonetics Corporation (USA) 
  • Luminex Corporation (USA) 
  • Natera, Inc. (USA) 
  • Novartis International AG (Switzerland) 
  • PerkinElmer, Inc. (USA) 
  • Promega Corporation (USA) 

Blood Screening Market Recent Developments

  • In May 2023, Next-Generation Hematology Analyzers Atellica HEMA 570 and 580 from Siemens Healthcare were announced. Devices include intuitive interfaces and connectivity with several others, support workflow and high throughput times. 
  • In March 2023, the FDA approved Abbott's blood test for traumatic brain injury. It's the first commercially available lab-based test for the diagnosis of mild traumatic brain injuries, known as concussions. Hospitals all around the country will now have widespread access to this test. Using this test, powered by Abbott's Alinity i laboratory instrument, physicians will shortly be able to evaluate patients who have suffered from mild traumatic brain injuries. 
  • In April 2022, Guardant Health, Inc., a leading precision oncology company, announced the next-generation Guardant SHIELD multi-cancer test; this assay is currently in development. This assay intends to interrogate more than 20,000 epigenomic signs that have been demonstrated to be helpful for identifying a variety of cancers of solid tissue in a single blood test.
 

Blood Screening Key Market Trends

  • Transition to Point-of-Care Testing: The development in the blood screening market with the most significant trend is rising interest in point-of-care testing. Point-of-care testing, by its nature, enables healthcare practitioners to have near-instant results for virtually all central laboratory tests through rapid decentralized testing. This negates the need for sample shipment back to a centralized laboratory. POC testing is increasing its use in emergency rooms and outpatient clinics and makes medical judgments faster and helps provide a better experience to patients. Increasing diversity in POC blood screening tests are constantly rising with technology itself, thus driving the growth of the market and good quality care to the patient. 
  • Preventive Healthcare has More Emphasis: Preventive health care has become more prominent today, which highly impacts the blood screening business. Routine blood screening tests have become more in demand as many people and health providers now witness the early intervention and continuous monitoring of medical condition as a necessity. Public health programs together with awareness campaigns concerning the benefits of routine testing to determine the diseases at an early stage support this trend. This will make it even more probable that the healthcare systems would include blood screening in the preventive care procedure, which will drive the increase in markets and better health outcomes.

Blood Screening Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research. 

As per SkyQuest analysis, several factors, such as increasing blood-borne disease incidence, rising demand for blood and blood products, and spreading blood safety awareness are motivating factors for the rapid growth of the global blood screening market. With technological advancement and increasing R&D expenditure, the industry is predicted to keep growing in the next years. The market for blood screening increases further due to the growing prevalence of such disorders, which increases demand for blood and blood products. Blood screening ensures that any given blood is safe and does not contain infectious organisms that would infect the recipient. Supplies for blood screening are on higher demand as awareness increases concerning the dangers of receiving contaminated blood transfusions.

Report Metric Details
Market size value in 2022 USD 3.04 Billion
Market size value in 2031 USD 6.33 Billion
Growth Rate 8.50%
Base year 2023
Forecast period 2024-2031
Forecast Unit (Value) USD Billion
Segments covered
  • Product & Service
    • Reagents & Kits [NAT Reagents & Kits, ELISA Reagents & Kits, Other Reagents & Kits], Instruments [Rental Purchase, Outright Purchase], Software & Services
  • Technology
    • Nucleic Acid Test (NAT) [Transcription-mediated Amplification (TMA), Real-time Polymerase Chain Reaction (RT-PCR)], Serology/Immunoassay [Chemiluminescent Immunoassays (CLIA), Fluorescent Immunoassays (FIA), Colorimetric Immunoassays/ELISA (CI/ELISA)], Rapid Tests, Western Blot Assays, Next-generation Sequencing (NGS)
  • End User
    • Hospitals & Clinics, Diagnostic centres, Blood Banks
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
  • Abbott Laboratories (USA) 
  • Becton, Dickinson and Company (USA) 
  • Bio-Rad Laboratories, Inc. (USA) 
  • bioMérieux SA (France) 
  • F. Hoffmann-La Roche Ltd. (Switzerland) 
  • Grifols, S.A. (Spain) 
  • Hologic, Inc. (USA) 
  • Immucor, Inc. (USA) 
  • Meridian Bioscience, Inc. (USA) 
  • Ortho Clinical Diagnostics (USA) 
  • Quotient Limited (UK) 
  • Siemens Healthineers AG (Germany) 
  • Sysmex Corporation (Japan) 
  • Thermo Fisher Scientific Inc. (USA) 
  • Danaher Corporation (USA) 
  • Grifols Diagnostic Solutions Inc. (USA) 
  • Haemonetics Corporation (USA) 
  • Luminex Corporation (USA) 
  • Natera, Inc. (USA) 
  • Novartis International AG (Switzerland) 
  • PerkinElmer, Inc. (USA) 
  • Promega Corporation (USA) 
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Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Blood Screening Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Blood Screening Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Blood Screening Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Blood Screening Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Blood Screening Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Blood Screening Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.

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FAQs

Global Blood Screening Market size was valued at USD 3.04 Billion in 2022 and is poised to grow from USD 3.30 Billion in 2023 to USD 6.33 Billion by 2031, at a CAGR of 8.50% during the forecast period (2024-2031). 

Success in the fragmented blood screening market largely depends on adaptability, innovation, and strategic partnerships. Companies that have an investment in next-generation technologies, for instance automated screening systems, molecular diagnostics, are predicted to form the industry leaders. Strategic moves involve expanding the global footprint, targeting the developing world, and partnered arrangements with the governments and practitioners. This is going to require keeping up with regulatory compliance and the growing demand for point-of-care testing if GERP is going to remain strong in the market. 'Abbott Laboratories (USA) ', 'Becton, Dickinson and Company (USA) ', 'Bio-Rad Laboratories, Inc. (USA) ', 'bioMérieux SA (France) ', 'F. Hoffmann-La Roche Ltd. (Switzerland) ', 'Grifols, S.A. (Spain) ', 'Hologic, Inc. (USA) ', 'Immucor, Inc. (USA) ', 'Meridian Bioscience, Inc. (USA) ', 'Ortho Clinical Diagnostics (USA) ', 'Quotient Limited (UK) ', 'Siemens Healthineers AG (Germany) ', 'Sysmex Corporation (Japan) ', 'Thermo Fisher Scientific Inc. (USA) ', 'Danaher Corporation (USA) ', 'Grifols Diagnostic Solutions Inc. (USA) ', 'Haemonetics Corporation (USA) ', 'Luminex Corporation (USA) ', 'Natera, Inc. (USA) ', 'Novartis International AG (Switzerland) ', 'PerkinElmer, Inc. (USA) ', 'Promega Corporation (USA) '

Advancements in infectious diseases, particularly increases in bacterial and viral infections, have mainly driven the demand for blood testing. There has been a growing increase in the use of blood tests by clinical professionals, while public health concerns continue to change as part of efforts to monitor disease outbreaks and ensure safe blood transfusions. This trend can be ascribed to increasing awareness of blood-borne infections and the significance of early diagnosis, which propels hospitals and clinics to spend on high-technology blood screening equipment. Over the next couple of years, the blood screening market is expected to continue this growth trajectory due to the push toward safety and preventive care. 

Transition to Point-of-Care Testing: The development in the blood screening market with the most significant trend is rising interest in point-of-care testing. Point-of-care testing, by its nature, enables healthcare practitioners to have near-instant results for virtually all central laboratory tests through rapid decentralized testing. This negates the need for sample shipment back to a centralized laboratory. POC testing is increasing its use in emergency rooms and outpatient clinics and makes medical judgments faster and helps provide a better experience to patients. Increasing diversity in POC blood screening tests are constantly rising with technology itself, thus driving the growth of the market and good quality care to the patient. 

North America was dominant and accounted for the largest share of 39.0% in 2023, mainly because of the presence of big industry players, rising adoption of blood screening procedures, stringent FDA restrictions for transfusions, and further affordability by patients. At present, the US leads the market due to the local presence of major firms like Abbott, Danaher, and Roche Diagnostics. Their sustained supremacy can be owed, to some extent, to the availability of a robust R&D infrastructure and benign reimbursement laws. The American Cancer Society reports the projected 609,360 cancer deaths and 1,918,030 new cancer cases in the US in 2022. In the US, approximately 6.8 million people donate blood every year. These factors are predicted to drive sustained American supremacy into the future.  

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