Emphasis on Product (Reagents & Kits, Instruments, Software & Services); Technology (Nucleic Acid Amplification (NAAT), Enzyme Linked Immunosorbent Assay (ELISA), Rapid Tests, Western Blotting, Next Generation Sequencing (NGS); End User (Hospitals, Blood Banks, Others); Region/Country
Blood Screening Market is expected to grow at a CAGR of around 10% over the forecast period (2021-2027). Blood Screening is most preferred techniques for diagnosing numerous infectious diseases. Blood screening allows doctors to accurately diagnose diseases, which aids in the administration of appropriate medicines and patient monitoring to prevent disease spread. The market is being driven by factors such as an increase in blood donations and blood transfusion-related tests, an increase in the frequency of infectious diseases, a growing elderly population, and more awareness of transfusion-transmitted diseases.
The rising occurrences of novel infections, rising levels of investment for the development of sophisticated technologies, and favorable government regulations regarding blood screening would likely accelerate the expansion of the blood screening market. On the other hand, the expanding healthcare industry, combined with technological advancements, will promote different prospects, resulting in the rise of the blood screening market throughout the forecast period. In addition, the high costs associated with blood sampling are expected to limit the growth of the blood screening market during the projected period.
Prevalence of Diagnosed Infectious Diseases in Selected Countries, (%), 2019
Some of the major players operating in the market include Abbott Laboratories, Bio-Rad Laboratories, Inc., F. Hoffmann-La Roche Ltd., Becton, Dickinson And Company, Thermo Fisher Scientific Inc., bioMerieux, Inc., Grifols, S.A., Danaher Corporation, Boster Biological Technology, Demeditec Diagnostics GmbH, etc. Several M&A’s along with partnerships have been undertaken by these players to boost their presence in different regions.
Insights Presented in the Report
“Amongst Product, Reagents & Kits segment dominated the market in 2020”
Based on Product, the Blood Screening Market is segmented into Reagents & Kits, Instruments, Software & Services. In 2020, the reagents & kits category held the greatest proportion of the global blood screening market. Reagents are frequently utilized in immunoassays and molecular diagnostics since they constitute a recurring cost. The expansion of this market is being fueled by factors such as rising blood donations and transfusion-related screenings, as well as the rising prevalence of infectious & chronic diseases globally.
“Amongst Technology, Nucleic Acid Amplification (NAAT) segment dominated the market in 2020.”
Based on Technology, Blood Screening Market is studied into Nucleic Acid Amplification (NAAT), Enzyme Linked Immunosorbent Assay (ELISA), Rapid Tests, Western Blotting, Next Generation Sequencing (NGS). In 2020, the Nucleic Acid Amplification (NAAT) category held the maximum proportion of the global blood screening market. The technology’s exceptional benefits, such as high sensitivity and specificity for early detection, account for most of the share.
“Amongst End User, Blood Banks holds significant market share in 2020.”
Based on End User, the Blood Screening Market is fragmented into Hospitals, Blood Banks, Others. The market for blood screening was dominated by the blood banks segment. Laboratory testing for infectious illnesses in donated blood and blood products is a critical safety step to safeguard patients and prevent the spread of dangerous infectious diseases. The growth of this segment is being driven by factors such as rising blood donations and transfusion-related tests, expanding awareness of transfusion-transmitted infections, and the rising occurrence of infectious disorders.
“North America represents as the largest market.”
For a better understanding of the market adoption of Blood Screening, the market is analyzed for the countries such as North America (United States, Canada, Rest of North America), Europe (Germany, UK, France, Italy, Spain, Rest of Europe), Asia-Pacific (China, Japan, India, Australia, Rest of APAC), and Rest of World. North America dominated the market in 2020. Factors driving the North America Blood Screening Market include growing awareness of blood donations, the increasing incidence of infectious diseases, and the growing incidence of novel pathogens, and the presence of high-end infrastructure for hospitals and scientific laboratories, including the presence of key players in the region.
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1. Market Introduction
2. Research Methodology Or Assumption
3. Market Synopsis
4. Executive Summary
5. Blood Screening Market Covid-19 Impact
6. Blood Screening Market Revenue, 2019-2027f
7. Market Insights By Product
8. Market Insights By Technology
9. Market Insights By End User
10. Market Insights By Regions
11. Blood Screening Market Dynamics
12. Blood Screening Market Opportunities
13. Blood Screening Market Trends
14. Competitive Landscape
15. Company Profiled
16. Disclaimer
Analyzing the historical market, estimation of the current market, and forecasting the future of the Blood Screening Market were the three major steps undertaken to create and analyze the adoption of blood screening products & technologies across various regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were conducted, with industry experts across the value chain of the industry. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecast the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments the industry pertains to. Detailed methodology is explained below.
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detailed secondary study was conducted to obtain the historical market size of the Blood Screening through company internal sources such as annual report & financial statements, investor presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the Blood Screening, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments included in the report are by product, by technology, and by end user. Further regional & country-level analyses were conducted to evaluate the overall adoption of the Blood Screening Market in the global context.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size. Further, we conducted factor analysis using dependent and independent variables such as increasing blood donations and transfusion-related screenings and the increasing prevalence of infectious diseases, etc. Historical trends and their year-on-year impact on the market size and share was analyzed. Demand and supply side scenario was also thoroughly studied.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the Market, and market shares of the segments and company. All the required percentage split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., top-down/bottom-up approach was applied to arrive at the market forecast to 2027 for different segments and subsegments across the major regions globally. The research methodology adopted to estimate the market size encompasses:
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, and Regional Head, Country Head, etc.) across major countries. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
Market Engineering
Data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers of each segment and sub-segment of the Blood Screening Market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of product, technology, and end user for the major country/region globally.
The main objective of the Blood Screening Market Study
The current & future market trends of Blood Screening were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments from the qualitative and quantitative analysis performed in the study. Current and future market trends would determine the overall attractiveness of the market at a regional & country level, providing a platform for the industrial participant to exploit the untapped market to benefit as a first-mover advantage. Other quantitative goals of the studies include:
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October 8, 2024
