Blood Screening Market Forecasted To Hit USD 6.98 Billion By 2032, Growing At A 9.73% CAGR

(MENAFN- EIN Presswire)

Blood Screening Market

The blood screening market is driven by rising blood donations and increasing demand for safe blood in complex surgeries and treatments worldwide.

AUSTIN, TX, UNITED STATES, November 11, 2024 /EINPresswire / -- The Blood Screening Market was valued at USD 3.03 billion in 2023 and is expected to reach USD 6.98 billion by 2032, growing at a CAGR of 9.73% over the forecast period 2024-2032.

Market Growth Factors:

The demand for blood screening is driven by the increasing prevalence of infectious diseases such as hepatitis, HIV, and tuberculosis, along with rising health awareness and government initiatives for blood safety. The continuous development of diagnostic technologies, such as nucleic acid testing (NAT) and next-generation sequencing (NGS), is also playing a crucial role in market growth. Furthermore, rising investments in blood screening systems and the growing need for blood banks across the globe further support the expansion of the market.

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Overview of the Blood Screening Market

The blood screening market has seen rapid advancements in diagnostic technologies and has become a vital part of healthcare systems worldwide. It plays a crucial role in identifying various infections and ensuring blood safety for transfusions. As the prevalence of infectious diseases like HIV, Hepatitis B, and C increases, so does the demand for effective blood screening solutions. Technological innovations, including nucleic acid testing (NAT) and enzyme-linked immunosorbent assays (ELISA), are transforming how blood tests are performed, allowing for faster, more accurate results. The market is also witnessing the rise of automation in blood screening systems, which enables large-scale testing with reduced errors.

In terms of supply and demand, the market is experiencing a growing need for advanced screening methods, particularly in regions with high infection rates. Governments and private organizations are investing heavily in blood screening technologies to ensure the safety of donated blood. As a result, there is a steady increase in demand for diagnostic reagents, instruments, and consumables. Blood banks, hospitals, and diagnostic laboratories are among the largest end users, as these facilities require reliable, high-throughput systems to manage the volume of tests needed.

Leading Players Included are:
➢Siemens Healthineers
➢Ortho Clinical Diagnostics, Inc
➢BD
➢DiaSorin S.p.A.
➢Grifols
➢Hoffmann-La Roche
➢Abbott Laboratories
➢Biomérieux
➢Bio-Rad Laboratories, Inc., and others.

Segment Analysis

By Product & Service:
➢Reagents & Kits
➢Instruments
➢Software & Services

The fastest-growing segment in the blood screening market is reagents and kits, particularly nucleic acid testing (NAT) reagents & kits, which dominate the product category. NAT reagents play a crucial role in detecting viral infections in blood donations and ensuring blood safety. These kits are essential in detecting early stages of infections like HIV, hepatitis B, and C, and are expected to witness significant growth due to their high accuracy and efficiency. NAT reagents & kits are expected to dominate with a share of 40-45% in the product & service segment over the forecast period.

By Technology:
➢Nucleic Acid Test
➢ELISA
➢Rapid Tests
➢Western Blot Assays
➢Next-generation Sequencing

The dominant technology in blood screening is Nucleic Acid Testing (NAT) in 2023. NAT is widely used due to its ability to detect low-level infections by directly identifying viral RNA or DNA in blood samples. It ensures greater accuracy compared to traditional antibody-based testing methods. Real-time PCR, which allows for quicker results with high sensitivity, is gaining popularity in both research and clinical settings. This technology is expected to witness a rapid CAGR during the forecast period due to increasing adoption in clinical diagnostics.

By End User:
➢Blood Banks
➢Hospitals

Blood Banks held the largest market share in the end-user segment, followed by hospitals in 2023. Blood banks rely heavily on blood screening technologies to ensure the safety of donated blood and minimize transfusion-related infections. Hospitals are also major users of blood screening technologies for the diagnosis of infectious diseases and patient monitoring. Blood banks are expected to dominate with a market share of around 51.6%, while hospitals will account for a substantial portion of the market, driven by increasing demand for testing in emergency and critical care situations.

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Regional Analysis

North America:

North America dominated the blood screening market, accounting for approximately 38.7% of the global market share in 2023. The market growth in North America is driven by the increasing adoption of advanced diagnostic technologies and high healthcare expenditures. The presence of major diagnostic companies, such as Abbott Laboratories, Siemens Healthineers, and Thermo Fisher Scientific, plays a significant role in shaping the market landscape. Blood banks and hospitals in the U.S. are increasingly adopting high-throughput, automated screening solutions for infectious diseases like HIV, hepatitis, and syphilis. The region is also witnessing rising government initiatives to enhance blood safety, further fueling market growth.

Asia Pacific:

The Asia Pacific region is anticipated to witness the fastest growth in the blood screening market during the forecast period, driven by increasing healthcare infrastructure and the rising prevalence of infectious diseases. Countries like India and China are investing heavily in improving their blood screening systems to ensure blood safety and quality. In addition, rising public awareness and government support for blood screening programs are key growth factors. The increasing number of blood donations and the adoption of advanced testing technologies will drive market growth in this region. With a CAGR of around 10.5%, the Asia-Pacific market is expected to expand significantly.

Recent Developments
➢May 2023:Siemens Healthineers launched the Atellica HEMA 570 and Atellica HEMA 580, designed for high-volume hematology testing, ensuring rapid results and improved workflow efficiency for blood screening.
➢May 2023:Bio-Rad Laboratories launched the IH-500 NEXT System, a fully automated system for ID-Cards, offering broad portfolio testing including routine and specialized tests such as newborn screening.
➢November 2023:Diasorin announced it would develop the first fully automated diagnostic test for hepatitis delta virus (HDV) on the Diasorin LIAISON XL immunoassay system in the U.S.

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