Blood Screening Market Size, Share, Growth Analysis, By Product & Service(Reagents & Kits [NAT Reagents & Kits, ELISA Reagents & Kits, Other Reagents & Kits], Instruments [Rental Purchase), By Technology(Nucleic Acid Test (NAT) [Transcription-mediated Amplification (TMA), Real-time Polymerase Chain Reaction (RT-PCR)], Serology/Immunoassay [Chemiluminescent Immunoassays (CLIA), Fluorescent Immunoassays (FIA)), By End User(Hospitals & Clinics, Diagnostic centres, Blood Banks), By Region - Industry Forecast 2024-2031

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.