Blood-Grouping Reagents Market to grow by USD 456.95 million from 2022 to 2027, North America to account for 46% of market growth- Technavio
NEW YORK, Sept. 8, 2023 /PRNewswire/ -- The blood-grouping reagents market is expected to grow by USD 456.95 million from 2022 to 2027. In addition, the momentum of the market will progress at a CAGR of 7.73% during the forecast period, according to Technavio Research. The market has been segmented by end-user (Hospitals and blood banks, Clinical laboratories, and Academic and research institutes), technique (PCR-based and microarray techniques, assay-based techniques, massively parallel sequencing techniques, and serology) and Geography (North America, Europe, Asia, and the Rest of the World (ROW)). North America is estimated to contribute 46% to the growth of the global market during the forecast period. The growth of the market in this region is mainly driven by the sale of approved blood group reagents for blood group determination and the increasing incidence of chronic diseases and types of cancer. The high incidence of leukemia in the region subsequently increases the adoption of treatment options such as surgical procedures and treatments. Blood group testing is necessary for cancer patients because they may need blood transfusions for treatment, especially during surgery. The availability of a wide range of products thus driving the market growth in this sector, can be attributed to the large number of US companies selling blood group reagents. Hence, these factors are expected to drive market growth in the region during the forecast period. This report offers an up-to-date analysis of the current market scenario, the latest trends and drivers, and the overall market environment. Read PDF Sample Report
Company Profile:
Alpha Laboratories, Arena Bio Scien, Atlas Medical GmbH, AXO Science, BAG Diagnostics GmbH, Bio Rad Laboratories Inc., Danaher Corp., DIAGAST SAS, Grifols SA, Haemokinesis Ltd., Merck KGaA, Mesa Laboratories Inc., Novacyt SA, QuidelOrtho Corp., Quotient Ltd., Rapid Labs Ltd., Torax Biosciences Ltd., Tulip Diagnostics Pvt. Ltd., Werfenlife SA, and Calibre Scientific Inc.
Alpha Laboratories - The company offers blood grouping reagents such as ALBAcheck Whole Blood Controls and ALBAclone Monoclonal Antisera.
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Blood-Grouping Reagents Market: Segmentation Analysis
The market has been segmented by end-user (hospitals and blood banks, clinical laboratories, and Academic and research institutes), technique (PCR-based and microarray techniques, assay-based techniques, massively parallel sequencing techniques, and serology), and Geography (North America, Europe, Asia, and the Rest of the World (ROW)).
The market share growth by the hospitals and blood banks segment will be significant during the forecast period. This is due to the high rate of use of these reagent products in hospitals and blood banks due to the increasing demand for blood transfusions, hospitals, and blood banks.
Learn about the contribution of each segment summarized in concise infographics and thorough descriptions. View a PDF Sample Report
"Besides analyzing the current market scenario, our report examines historic data from 2017 to 2021"- Technavio
Blood-Grouping Reagents Market: Market Dynamics
Key Driver
- Increasing prevalence of chronic disorders
- Rise in blood donations
- Growing demand for blood transfusions and blood group typing
The increasing prevalence of chronic disorders is a key factor driving the blood-grouping reagents market. The increasing prevalence of chronic diseases such as diabetes and cancer in humans is increasing the need for early diagnosis for better patient care. Blood type testing is necessary for cancer patients because they may need blood transfusions for treatment. Most chemotherapy drugs affect the bone marrow, leading to low blood volume and possibly death. In addition, blood products such as platelets used to treat cancer patients have a short shelf life, which increases demand. Researchers are also studying the relationship between blood type and the risk of developing asthma and chronic obstructive pulmonary disease (COPD), which is increasing demand for blood group products, especially reagents. Hence, these factors are expected to drive market growth during the forecast period.
Major Trend
The increasing demand for blood transfusions and blood grouping is a major trend shaping the growth. The increase in demand for blood transfusions can be attributed to various types of emergency cases, including road accidents leading to loss of blood and death. The demand for blood transfusions is also increasing among patients with disorders such as sickle cell anemia, thalassemia, hemolytic anemia, and hemophilia. Blood transfusion is of utmost importance for patients with kidney and liver diseases and severe anemia caused due to cancers such as digestive system cancer and leukemia. Blood grouping products, including reagents, are also used to determine the fetal blood group in pregnant women, which is an important part of prenatal care.
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What are the key data covered in this blood-grouping reagents market report?
- CAGR of the market during the forecast period
- Detailed information on factors that will drive the growth of the blood-grouping reagents market between 2022 and 2027.
- Precise estimation of the blood-grouping reagents market size and its contribution to the market in focus on the parent market
- Accurate predictions about upcoming trends and changes in consumer behavior
- Growth of the market across North America, Europe, Asia, and ROW
- A thorough analysis of the market's competitive landscape and detailed information about companies
- Comprehensive analysis of factors that will challenge the growth of blood-grouping reagents market companies.
ToC:
Executive Summary
Market Landscape
Market Sizing
Historic Market Sizes
Five Forces Analysis
Market Segmentation by End-User
Market Segmentation by Technique
Market Segmentation by Geography
Customer Landscape
Geographic Landscape
Drivers, Challenges, & Trends
Company Landscape
Company Analysis
Appendix
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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SOURCE Technavio
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