Blood Screening Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018-2028

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Blood Screening Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018-2028

Status : August, 2020 | Pharmaceutical | PPT format

Report Digest

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.

The study presents a granular assessment and quantitative evaluation of:

  • Key growth factors and prominent trends
  • Size and share of key segments in overall market
  • Key challenges and winning imperatives
  • Factors shaping competitive landscape
  • Insights into how contours of market will change in coming years
  • Technological advances
  • New avenues and imminent investment pockets
  • Regulatory landscape shaping current and future strategies of companies

The region-wise assessment includes market dynamics in:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The study is prepared with the help of an extensive primary and secondary research. Primary research includes but not limited to interactions, interviews, surveys, and events. Opinions of policy makers and industry experts are carefully integrated into the insights to complement primary research. Volumes of secondary data gleaned through renowned paid sources, annual statements, reputed journals, and government documents offer insights into current dynamics and key evolution trajectories the market is likely to assume. The research employs various industry-wide analytics methods and well-established methodologies to ascertain the attractiveness of key segments. Further, it evaluates the lucrativeness of key regions and factors underlying their maturity. The insights notably include a detailed analysis of forces behind vendor differentiation and offers insight into investment-decision making by prominent players.

The report strives to enlighten businesses and industry stakeholders on multiple facets of the growth dynamic of the market, the key of which include answers to:

  • Which key factors will shape the competitive landscape?
  • Which trends will stimulate research and development activities in different geographies?
  • Which are the lucrative growth areas and what is the size of potential they are likely contribute to the overall market?
  • Which disruptions in market growth are likely to come with the new business models?
  • Which are some of the recent overhauls in policies that may change the course of the market significantly?
  • Which are the geographies that will form sizable sources of new streams to new and established players alike?
  • How are top players likely to realign their strategy to counter the forces of competition?
  • Which key strategies emerging players are likely to focus on to consolidate their position?
  • Which changes in end-user preferences might affect the status quo held by the leading players?
  • Which are some of the game-changing innovations influencing the projected share and revenue of the market and its segments?

Note: Utmost care has invariably been taken to present data and arrive at statistics at all the TMR Research reports. Meanwhile, some recent developments and new industry trends may take time to be included in the reports.