Blood Screening Market is Expected to Reach $ 4.9 billion, by 2032 at 7.5% CAGR: Allied Market Research

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Dec 11, 2023, 03:56 ET

Blood screening is a critical process conducted on donated blood to guarantee its safety and suitability for transfusion. The primary objective of blood screening is to detect infectious agents such as HIV, hepatitis B and C viruses, syphilis, and other pathogens that may be present in the donated blood. Highly sensitive and specific laboratory tests are used to assess the quality of the blood, ensuring that it meets stringent safety standards before being utilized in medical treatments

PORTLAND, Ore., Dec. 11, 2023 /PRNewswire/ -- Allied Market Research published a report, titled, "Blood Screening Market by Product (Instrument and Kits and Reagents), Technology (Nucleic Acid Testing and Immunoassay), and End User (Hospitals and Blood Banks): Global Opportunity Analysis and Industry Forecast, 2023–2032.". According to the report, the global blood screening market was valued at $ 2.4 billion in 2022 and is estimated to reach $ 4.9 billion by 2032, exhibiting a CAGR of 7.5% from 2022 to 2032.

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Prime determinants of growth

The blood screening market has experienced significant rise in demand for donated blood for medical applications, and surge in number of blood donations globally.

Report coverage & details:

Report Coverage	Details
Forecast Period	2023–2032
Base Year	2022
Market Size in 2022	$ 2.4 billion
Market Size in 2032	$ 4.9 billion
CAGR	7.5 %
No. of Pages in Report	240
Segments covered	Product, Technology, End User and Region.
Drivers	Rise in demand for donated blood for medical applications Surge in number of blood donations globally.
Opportunities	Rise in awareness about diseases transmitted through transfusion.
Restraints	Regulatory Hurdles

Economic Downturn Analysis: Impact of Recession in 2023 on the Blood Screening Market

The global recession has significant impact on blood screening market.
The high inflation rate and the economic uncertainty has impacted the potential investment for the new product development and research activities.
However, market for blood screening is expected to recover owing to rise in demand of donated blood for medical applications.

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The kits and reagents technologies segment to maintain its leadership status throughout the forecast period

Based on product, the kits and reagents segment held the highest market share in 2022, accounting for more than two-thirds of the blood screening market revenue, owing to high adoption of kits and reagents owing to its low cost and portability.

The NAT technology segment to maintain its leadership status throughout the forecast period

Based on technology, the NAT technology segment held the highest market share in 2022, accounting for almost two-thirds of the blood screening market revenue. This is attributed to high NAT technology for blood screening at blood banks and hospitals.

The blood banks segment to maintain its leadership status throughout the forecast period

Based on end user, the blood bank segment held the highest market share in 2022, accounting for more than four-fifths of the blood screening market revenue. This is attributed to high amount of blood donation taking place at blood banks.

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The North America segment to maintain its leadership status throughout the forecast period

Based on region, the North America segment held the highest market share in 2022, accounting for two more than two-fifths of blood screening market revenue. This is attributed to rise in demand for donated blood for medical applications, strong presence of key players, and strict protocols for screening of donated blood.

Leading Market Players: -

MEDTRONIC PLC
F. Hoffmann-La Roche Ltd.
Grifols, S.A.
Abbott Laboratories
Bio-Rad Laboratories, Inc.
Danaher Corporation
DiaSorin S.p.A.
Siemens AG
Avioq, Inc.
Ortho-Clinical Diagnostics, Inc
Alive DX

The report provides a detailed analysis of these key players in the blood screening market. These players have adopted different strategies such as product development, product approval, acquisition, and partnership to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.

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About Allied Market Research:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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