Blood Screening Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018-2028
Global Blood Screening Market: Overview
Technologies for screening donated blood for infectious such as HIV1, HIV2, HBV, and HCV play a crucial role in deciding the safety of transfusions. With a vast rise in blood transfusions across the globe in the past few years and a massive rise in prevalence of a variety of infectious diseases, the demand for effective blood screening measures has also increased. The market for blood screening is thus expected to embark upon a healthy growth path in the next few years, opening up promising growth opportunities for companies operating in the field.
This report attempts at providing a thorough analytical account of the past growth trajectory of the market and its potential future growth prospects. Analysis of a variety of trends, driving factors, challenges, and regulatory scenarios on the growth promise of the market is also included.
Global Blood Screening Market: Trends and Opportunities
The market has been chiefly driven due to the introduction of a number of stringent regulations that have mandated the proper screening of donated blood before its use for transfusion and the increased awareness regarding blood donation among the global population. Several countries and non-government organizations have increased their focus on improving awareness regarding the need for voluntary blood donations to provide steady access of safe blood to the ones in need. The scenario has led to a vast rise in voluntary blood donations across developed as well as developing economies in the past few years, thereby increasing the need for more effective blood screening procedures.
In the next few years, the global blood screening market is expected to see a significant push from the increased funds being diverted towards the development of blood processing and storage infrastructure and the vast rise in numbers of blood banks across emerging economies in regions such as Asia Pacific and Latin America. The rising prevalence of infectious conditions is also a key factor necessitating highly efficient and reliable blood screening technologies.
Of the key technologies used for screening blood, including nucleic acid amplification test (NAT), chemiluminescence immunoassay (CLIA) and enzyme immunoassay (EIA), Western blotting, and ELISA, the NAT technology has been gaining increased preference owing to its specificity for viral nucleic acids and excellent sensitivity. The demand for ELISA also continues to be high owing to its low cost and continuous efforts being put in to improve the specificity of the test.
Global Blood Screening Market: Geographical Dynamics
From a geographical perspective, the blood screening market in North America is presently the leading contributor of revenue to the global market. Factors contributing to the dominant position of the regional market include the vast rise in prevalence of infectious conditions, presence of some of the leading manufacturers of blood screening products, high expenditure on healthcare, and stringent regulations pertaining to blood transfusions. The steady influx of new product varieties and the easy affordability of these products in the region that boasts of average high disposable income population could also work well for the regional market in the next few years.
The market in Asia Pacific is also expected to present highly promising growth opportunities over the report’s forecast period. The regional market will benefit from rising awareness regarding blood donation among the population, the increased focus of regulatory organizations on safety measures pertaining to blood transfusion, and the increased affordability of patients in emerging economies. Increased focus of leading vendors on venturing into emerging economies as for geographical expansion strategies could also benefit the Asia Pacific blood screening market.
Global Blood Screening Market: Competitive Dynamics
Some of the leading companies operating in the global blood screening market are Danaher Corporation, Ortho-Clinical Diagnostics, Inc., Siemens AG, Becton Dickinson and Company, F. Hoffmann-La Roche Ltd, Thermo Fisher Scientific., Abbott Laboratories, Grifols, and Bio-Rad Laboratories.
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