Blood Group Typing Market Size To Surpass Usd 3.60 Billion In 2030, At A Cagr Of 9.1%

2023-08-21 05:46:21

(MENAFN- GlobeNewsWire - Nasdaq) Pune, India, Aug. 21, 2023 (GLOBE NEWSWIRE) -- Global blood group typing market size was valued at USD 1.80 billion in 2022 and is expected to USD 3.60 billion by 2030, exhibiting a CAGR of 9.1% over the forecast period. Blood group typing is a method used to identify the blood group of a patient for different medical procedures.

The demand for blood transfusions has increased considerably across the globe due to the surging number of accident and trauma cases. This factor has also increased the number of these procedures as well to cater to a larger patient pool. Some other factors that are favoring the market growth include an increase in public-private partnerships and adoption of strategic initiatives by several key players.

Fortune Business InsightsTM displays this information in a report titled, "Blood Group Typing Market, 2023-2030."

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Key Industry Development:

August 2022 – Eurobio Scientific acquired GenDx. The deal would allow Eurobio Scientific to secure its portfolio of 100% proprietary products among the most efficient in the HLA1 diagnostics sector.

Key Takeaways :

Decline in Blood Donations Amid COVID-19 Pandemic Hampered Market Growth
Adoption of Automated Blood Group Typing Technologies to Determine Market Growth Trajectory
Increase in Number of Blood Donations to Accelerate Market Growth
Rising Transplantation Procedures to Surge Demand for HLA Typing
Lack of Infrastructure & Trained Personnel for These Procedures in Emerging Nations to Hinder Market Growth
QuidelOrtho Corporation Clinched Top Market Position Due to Strong Product Portfolio

List of Key Players Mentioned in the Report:

Quotient Limited (Switzerland)
CareDx Inc. (U.S.)
Agena Bioscience, Inc. (Mesa Laboratories, Inc.) (U.S.)
DIAGAST (U.S.)
Illumina, Inc. (U.S.)
Grifols, S.A. (Spain)
Immucor, Inc. (U.S.)
Bio-Rad Laboratories, Inc. (U.S.)
Thermo Fisher Scientific Inc. (U.S.)
Merck KGaA (Germany)
QIAGEN (Netherlands)
Beckman Coulter, Inc. (Danaher) (U.S.)
QuidelOrtho Corporation (U.S.)

COVID-19 Impact:

Industry Value Affected Due to Reduction in Blood Transfusions and Donations

The COVID-19 pandemic caused a massive decline in the number of blood donations and transfusions. Furthermore, this period also resulted in a decrease in the number of patient visits to hospitals. However, the industry growth is expected to accelerate on account of a range of factors. These include improved patient visits, rise in blood donations, and the robust adoption of automated technologies.

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Report Scope & Segmentation:

Report Coverage	Details
Forecast Period	2023 to 2030
Forecast Period 2023 to 2030 CAGR	9.1%
2030 Value Projection	USD 3.60 Billion
Base Year	2022
Blood Group Typing Market Size in 2022	USD 1.80 Billion
Historical Data for	2019 to 2021
No. of Pages	177
Segments covered	By Product, Test Type, Technique And End User

Segments:

Reagents & Kits to Witness Notable Surge in Demand Due to Rising Number of Blood Donations

Based on product, the market is segmented into instruments and reagents & kits. The reagents & kits segment accounted for a substantial blood group typing market share. This surge in the segment's growth is mainly driven by the escalating number of blood transfusions and donations.

Antibody Screenings to Dominate Market Owing to Soaring Prevalence of Chronic Diseases

On the basis of test type, the market for blood group typing is fragmented into ABO tests, antigen typing, antibody screening, cross-matching tests, and HLA typing. The antibody screening segment dominated the market share. This is mainly due to the rising number of prenatal testing procedures, increased blood transfusions, and growing prevalence of chronic diseases.

Serology Tests to Gain Traction due to New Product Launches

On the basis of technique, the market is subdivided into molecular tests and serology tests. The serology tests segment dominated the global market share. The segment's rise can be credited to increasing initiatives for new product launches and rising number of voluntary blood donations.

Independent Laboratories & Blood Banks to Record Remarkable Growth Due to Rising Setup of These Units

On the basis of end-user, the market is fragmented into independent laboratories & blood banks and hospital-based laboratories. The independent laboratories & blood banks segment is anticipated to register commendable growth rate throughout the study period. The segment's robust growth can be attributed to the growing number of independent blood banks & laboratories, especially in emerging nations.

Based on region, the global market is studied across North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.

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Report Coverage:

The research report studies the market in detail. The market is segmented based on product, technique, end-user, and test type. The report highlights crucial areas, such as market dynamics, number of blood donations and transfusions, prominent market players, technological advancements in blood group typing, key industry developments including mergers, acquisitions, and partnerships, and the impact of COVID-19 pandemic on the market. The analysis also includes insights into the market trends and covers other factors that have contributed to the market's growth in recent years.

Drivers and Restraints:

Rise in Transplant Procedures to Spur Adoption of HLA Typing Tests

The recent years have recorded an upsurge in the number of transplantation procedures at the global level. This has led to an increase in demand for Human Leukocyte Antigen (HLA) typing tests, which is propelling the blood group typing market growth. HLA typing is vital for renal transplantation, which will further enhance its demand among patients.

However, the market expansion is likely to be hindered by the lack of infrastructure for blood group typing, especially in emerging countries.

Regional Insights:

North America to Lead Global Market Due to Growing Demand for Blood Transfusions

The North America market share is estimated to register appreciable growth over the forecast period. The regional market's rise can be attributed to the growing demand for blood transfusions and favorable reimbursement policies. Some of the additional factors favoring the regional market's expansion include the surging regulatory approvals for the usage of advanced products.

The Europe market captured the second-largest market share in 2022. The regional market expansion can be credited to the growing number of blood transfusion procedures and growing awareness among individuals regarding blood donations.

Competitive Landscape:

QuidelOrtho Corporation Dominated Market with Robust Product Portfolio

The market's competitive landscape has a vast presence of many regional as well as international companies. However, QuidelOrtho Corporation is leading the global market growth by capturing the largest share of the market. Factors, such as strong distribution agreements and securing consistent product approvals, have assisted the company in becoming a market pioneer.

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Table Of Contents :

Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
Executive Summary
Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Market Trends
Key Insights
- Technological Advancements in Blood Group Typing Techniques
- Number of Blood Donations, For Key Countries
- Number of Blood Transfusions, For Key Countries/ Region
- Key Industry Developments: Mergers, Partnership, Acquisitions
- Brief Overview of Other Companies Operating in HLA Typing Products
- Pricing Analysis of HLA Typing Products
- Impact of COVID-19 on Blood Group Typing Market
Global Blood Group Typing Market Analysis, Insights and Forecast, 2019-2030
- Market Analysis, Insights and Forecast – By Product
  - Instruments
  - Reagents & Kits
- Market Analysis, Insights and Forecast – By Test Type
  - ABO Tests
  - Antigen Typing
  - Antibody Screening
  - Cross-matching Tests
  - HLA Typing
- Market Analysis, Insights and Forecast – By Techniques
  - Serology Tests
  - Molecular Tests
- Market Analysis, Insights and Forecast – By End-user
  - Hospital-based Laboratories
  - Independent Laboratories & Blood Banks
- Market Analysis, Insights and Forecast – By Region
  - North America
  - Europe
  - Asia Pacific
  - Latin America
  - Middle East & Africa
North America Blood Group Typing Market Analysis, Insights and Forecast, 2019-2030
- Market Analysis, Insights and Forecast – By Product
  - Instruments
  - Reagents & Kits
- Market Analysis, Insights and Forecast – By Test Type
  - ABO Tests
  - Antigen Typing
  - Antibody Screening
  - Cross-matching Tests
  - HLA Typing
- Market Analysis, Insights and Forecast – By Techniques
  - Serology Tests
  - Molecular Tests
- Market Analysis, Insights and Forecast – By End-user
  - Hospital-based Laboratories
  - Independent Laboratories & Blood Banks
- Market Analysis, Insights and Forecast – By Country
  - U.S.
  - Canada
Europe Blood Group Typing Market Analysis, Insights and Forecast, 2019-2030
- Market Analysis, Insights and Forecast – By Product
  - Instruments
  - Reagents & Kits
- Market Analysis, Insights and Forecast – By Test Type
  - ABO Tests
  - Antigen Typing
  - Antibody Screening
  - Cross-matching Tests
  - HLA Typing
- Market Analysis, Insights and Forecast – By Techniques
  - Serology Tests
  - Molecular Tests
- Market Analysis, Insights and Forecast – By End-user
  - Hospital-based Laboratories
  - Independent Laboratories & Blood Banks
- Market Analysis, Insights and Forecast – By Country/Sub-region
  - U.K.
  - Germany
  - France
  - Spain
  - Italy
  - Scandinavia
  - Rest of Europe

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FAQs :

How big is the Blood Group Typing Market ?

The global blood group typing market size was valued at USD 1.80 billion in 2022. The market is expected to grow from USD 1.96 billion in 2023 to USD 3.60 billion by 2030, exhibiting a CAGR of 9.1% over the forecast period.

What are the key factors driving of Blood Group Typing Market ?

Increase in the number of blood donations and transplant procedures and rise in trauma and accident cases are driving the market growth.

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