The demand for safe transfusion blood is driven by the rising global prevalence of blood disorders, increased incidents of road accidents and surgeries, and the growing geriatric population.
WILMINGTON, Del., July 25, 2024 /PRNewswire/ -- The global blood transfusion diagnostics market stood at US$ 4.6 billion in 2023, and the global market is projected to reach US$ 7.7 billion in 2034. The global blood transfusion diagnostics market is anticipated to expand [https://www.transparencymarketresearch.com/blood-transfusion-diagnostics-market.html] at a CAGR of 4.9% between 2024 and 2034.
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The rising global prevalence of blood disorders, such as anemia, hemophilia, and leukemia, necessitates the need for accurate and reliable diagnostic tests to assess blood compatibility and identify potential risks associated with transfusions.
Additionally, the surge in road accidents and surgical procedures further drives the demand for blood transfusions, emphasizing the importance of stringent screening and compatibility testing to prevent adverse reactions and ensure patient safety.
Moreover, the growing geriatric population, who are more prone to chronic illnesses and require frequent medical interventions, contributes to the escalating demand for blood transfusion diagnostics.
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Elderly individuals often require blood transfusions as part of their treatment regimens, underscoring the critical role of diagnostic tests in assessing blood suitability and minimizing transfusion-related complications.
Furthermore, the increasing focus on collaborations and partnerships between healthcare entities and research institutions plays a pivotal role in expanding the adoption of advanced blood transfusion diagnostics.
These collaborations aim to enhance diagnostic technologies, develop innovative testing methodologies, and streamline transfusion protocols to improve patient outcomes and ensure the safety and efficacy of blood transfusions.
Technological advancements in blood transfusion diagnostics, such as the development of automated platforms, molecular testing techniques, and point-of-care devices, further drive market growth by offering rapid, accurate, and cost-effective testing solutions.
The innovative technologies enable healthcare professionals to perform comprehensive blood compatibility assessments, detect infectious agents, and identify potential immunological reactions more efficiently, thereby facilitating timely and informed transfusion decisions.
The blood transfusion diagnostics market is poised for continued expansion as the demand for safe and effective transfusion practices escalates worldwide. With ongoing advancements in diagnostic technologies and increased collaboration efforts within the healthcare industry, the market is expected to witness significant growth opportunities in the coming years, ensuring the delivery of high-quality transfusion services and improving patient care outcomes.
Blood Transfusion Diagnostics Market Report Scope:
Report Coverage Details Forecast Period 2024-2034 Base Year 2020-2022 Size in 2023 US$ 4.6 Bn Forecast (Value) in 2034 US$ 7.7 Bn Growth Rate (CAGR) 4.9 % No. of Pages 225 Pages Segments covered By Product Type, By Application, By Region, By End-user
Key Takeaways of Market Report
-- Global blood transfusion diagnostics market to generate absolute dollar
opportunity worth US$ 7.7 billion until 2034.
-- Global blood transfusion diagnostics market is valued at US$ 4.6 billion
in 2023.
-- North America is forecasted to hold the largest market share.
Global Blood Transfusion Diagnostics Market: Growth Drivers
-- Technological advancements in blood donor management systems,
particularly the emergence of automated systems, have revolutionized
workflows, enhancing efficiency and accuracy.
-- Donor recruitment and engagement technologies, including innovative
software and mobile applications, play a pivotal role in reaching
potential donors, scheduling appointments, sending reminders, and
providing post-donation care instructions. This improves donor
engagement, enhances the overall donor experience, and boosts donor
retention rates.
-- The increasing prevalence of blood-related disorders like leukemia,
thalassemia, sickle cell anemia, and hemophilia drives the demand for
safe transfusion blood, fueling the growth of the blood transfusion
diagnostics market.
Global Blood Transfusion Diagnostics Market: Regional Landscape
-- North America held a dominant share in the blood transfusion diagnostics
market, driven by advancements in healthcare infrastructure, increased
awareness, and augmented healthcare finances. In the United States,
companies like Roche are launching innovative transfusion diagnostics
solutions, such as the cobas Malaria test, FDA-approved in March 2024,
to reduce the risk of malarial infection from transfused blood products.
-- In the European Union, the rising prevalence of diseases like sickle
cell anemia is spurring efforts by medical device manufacturers and the
government to improve transfusion blood availability, thereby driving
market growth in Europe.
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Global Blood Transfusion Diagnostics Market: Key Players
-- In 2023, Prestige Diagnostics introduced a cutting-edge blood
transfusion diagnostics platform designed to enhance the accuracy and
efficiency of blood compatibility testing. This innovative solution
incorporates advanced molecular testing techniques and automated
workflows to streamline the transfusion process, ensuring compatibility
and safety for patients receiving blood transfusions.
-- In 2023, Atlas Medical launched a revolutionary point-of-care blood
transfusion diagnostics device capable of rapid and reliable testing for
blood type compatibility and infectious diseases. This portable device
enables healthcare professionals to perform on-site testing with minimal
turnaround time, facilitating timely and informed transfusion decisions
and improving patient outcomes in diverse healthcare settings.
Global Blood Transfusion Diagnostics Market: Segmentation
Product Type
-- Instruments
-- Blood Grouping Instruments
-- Others
-- Kits and Reagents
-- Blood Grouping Kits and Reagents
-- Others
Application
-- Blood Grouping
-- ABO Blood Grouping
-- Rh Blood Grouping
-- Red Blood Cell Antibody Screening
-- Extended Phenotyping
-- Cross Matching Tests
-- Disease Screening
-- Molecular Disease Screening
-- Serological Disease Screening
End User
-- Blood Banks
-- Blood Donation/Transfusion Centers
-- Others
Region
-- North America
-- Europe
-- Asia Pacific
-- Latin America
-- Middle East & Africa
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