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

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.