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In a recently published report, Immunohematology Market , report for till 2030. The report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U S Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mention the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Immunohematology Market products.
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Moreover, increasing expenditure on healthcare, backed by the need amongst individuals for quality healthcare services, is also anticipated to contribute to the market growth. According to the statistics by the World Bank, the current health expenditure (% of GDP) around the world increased from 9.08% in 2001 to 9.84% in 2018. Additionally, the current health expenditure per capita (current US$) increased from USD 492.99 in 2001 to USD 1110.84 in 2018.
Global Immunohematology Market is valued approximately at USD 2.0 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 5.6% over the forecast period 2020-2027. Immunohematology is a division of hematology and transfusion medicine that studies antigen-antibody reactions and analogous phenomena since they correlate to the pathogenesis and clinical indications of blood disorders. Immunohematology helps in the diagnosis of blood antigens, white blood cell, Rh factor, and plasma components in the donor blood. It is commonly known as blood banking, that deals with creation of blood elements for transfusion. It often facilitates in reduction of transfusion-associated fatalities, such as HIV and thalassemia. Moreover, the advent of next-generation immunohematology devices often helps clinicians to improve the effectiveness of emergency support to patients. It can lead to introduce more advanced features in immunohematology devices that can meet certain requirements of end-users. Therefore, this factor may drive the demand for immunohematology market. Moreover, the rise in prevalence of HIV and other target diseases, along with increasing investment by public and private organization in blood banks are the few factors responsible for the CAGR of the market during the forecast period.
According to the Joint United Nations Programme on HIV and AIDS (UNAIDS), in 2019, nearly 1.7 million individuals were newly affected by HIV, compared to a 2.8 million adult population in 1998. This, in turn, is likely to strengthen the demand for Immunohematology, thereby contributing to the market growth around the world. However, the high cost and lack of awareness regarding the product is one of the prime factors restraining the market growth over the forecast period of 2020-2027.
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The regional analysis of the global Immunohematology market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the rising government support to for blood transfusion, along with the significant presence of market vendors in the region. Whereas Asia-Pacific is anticipated to exhibit the highest growth rate / CAGR over the forecast period 2020-2027. Factors such as the increasing awareness concerning genetic testing for blood disorders coupled with growing prevalence of target diseases in the developing nations, such as China and India, are the few factors creating a lucrative opportunity for the growth of the Immunohematology market in the Asia-Pacific region.
Major market player included in this report are:
Bio-Rad Laboratories, Inc.
Immucor, Inc.
Grifols, S.A.
Becton, Dickinson and Company
Hologic, Inc.
Siemens Healthcare GmbH
Thermo Fisher Scientific
Abbott Laboratories
Beckman Coulter Inc.
Roche Diagnostics Corp.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
The detailed segments and sub-segment of the market are explained below:
By Product:
Immunohematology analyzer
Immunohematology reagent
By End-User:
Hospitals
Blood Banks
Diagnostic Laboratories
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By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027
Target Audience of the Global Immunohematology Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors
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