Blood Screening Market Growth at USD 6.33 Billion by 2031 | SkyQuest Technology
Discover the booming blood screening market from 2024 to 2031, as innovative technologies and rising health awareness drive demand across diverse product types and end users. This insightful analysis reveals key growth trends and regional dynamics shaping the future of diagnostics.
Westford, USA, Oct. 09, 2024 (GLOBE NEWSWIRE) — Global Blood Screening Market size was valued at USD 3.30 Billion in 2023 to USD 6.33 Billion by 2031, at a CAGR of 8.50% during the forecast period (2024-2031). Blood screening is the process of screening donated blood. It is used to screen donated blood for HBV, HCV, HIV1, and HIV2. High market growth is driven by increased blood donations and increased incidence of infectious diseases, as well as government support. The World Health Organization reports that 118.54 million blood donations are collected globally every year. In the U.S., 6.8 million people donate blood annually, and 13.6 million units of red blood cells and whole blood are collected annually.
The market is majorly driven by the increase in the rate of disorders such as HIV, diphtheria, measles and chronic diseases such as hemophilia, cancer, and other blood-related disorders. Blood-based diagnostics are useful for diagnosing a wide range illness such as cancer, infectious diseases and cardiovascular illnesses. Furthermore, serology tests can detect the prevalence of antibodies of a distinct disease-causing organism. A vast proportion of these tests can diagnose an array of infectious diseases for example hepatitis B and syphilis among other diseases. Biochemical tests can help gain knowledge of the levels of specific substances in the blood.
Browse in-depth TOC on the “Blood Screening Market”
- Pages – 219
- Tables – 64
- Figures – 77
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Blood Screening Market Overview:
| Report Coverage | Details |
| Market Revenue in 2023 | $ 3.30 Billion |
| Estimated Value by 2031 | $ 6.33 Billion |
| Growth Rate | Poised to grow at a CAGR of 8.50 % |
| Forecast Period | 2024–2031 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Service, Age Group, Gender, Service Provider, and Region |
| Segments Covered | Type, Technology, End Users, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, Middle East & Africa, Latin America |
| Report Highlights | Increasing demand for personalized medicines |
| Key Market Opportunities | Increasing usage of disease-specific screening programs |
| Key Market Drivers | Expansion of point-of-care testing in blood screening |
Market Segmental Analysis
Global Blood Screening Market is segmented based on product type, technology, end users, and region.
Based on product & service, the market is segmented into Reagents & Kits [NAT Reagents & Kits, ELISA Reagents & Kits, Other Reagents & Kits], Instruments [Rental Purchase, Outright Purchase], Software & Services.
Based on technology, the market is segmented into Nucleic Acid Test (NAT) [Transcription-mediated Amplification (TMA), Real-time Polymerase Chain Reaction (RT-PCR)], Serology/Immunoassay [Chemiluminescent Immunoassays (CLIA), Fluorescent Immunoassays (FIA), Colorimetric Immunoassays/ELISA (CI/ELISA)], Rapid Tests, Western Blot Assays, Next-generation Sequencing (NGS).
Based on end user, the market is segmented into hospitals & clinics, diagnostic centres, and blood banks.
Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Growing Demand for Automation of Blood Screening Process to Increase Efficiency of Screening
One of the main factors increasing the growth of the market is the automation of blood screening procedure. With the emergence of automation has massively transformed the procedures by improving efficiency, accuracy, and better laboratory operations. Automated systems and robotics are playing a crucial part in various stages of the processes, as they are used for sampling processing and result analysis. Furthermore, the advent of digital solutions for data management and incorporation is massively contributing towards the improvement of the procedures. Some of these digital solutions that are used for efficient operations are electronic health records, laboratory information systems, and data analytics.
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Growing Incidences of Chronic Diseases to Increase Demand for Blood Screening
The increasing incidences of chronic diseases are driving the necessities for blood screening. Chronic diseases like cancer, cardiovascular conditions, and infectious diseases are becoming more common globally. This is increasing demand for early detection and proactive medical measures, boosting the growth of blood screening market. Furthermore, routine screening allows better management and early intervention of health problems.
Increasing Healthcare Expenditure to Boosts Blood Screening Market in North America
The market for blood screening, in general, is mainly driven by the North American region. This is attributed to the high rate of adoption against the advanced healthcare infrastructure and high healthcare expenditure levels. Additionally, the established and evolving regulatory scenario of the market that positively supports preventive healthcare systems and encourages routine blood screening largely drives the market. The availability of many diagnostic laboratories and healthcare facilities also enables the dominance. Moreover, the presence of many companies that enable technological innovations and subsequent epidemics contribute to the present scenario.
Blood Screening Market Insights
Drivers
- Increasing awareness about early disease detection
- Growing number of blood donations from people
- Rising demand for personalized medicine
Restraints
- Growing ethical challenges
- Lack of adequate healthcare infrastructure to hinder market
- Increasing rules and regulatory challenges
Key Players Operating in Global Market
- Abbott Laboratories (USA)
- Becton, Dickinson and Company (USA)
- Bio-Rad Laboratories, Inc. (USA)
- bioMérieux SA (France)
- F. Hoffmann-La Roche Ltd. (Switzerland)
- Grifols, S.A. (Spain)
- Hologic, Inc. (USA)
- Immucor, Inc. (USA)
- Meridian Bioscience, Inc. (USA)
- Ortho Clinical Diagnostics (USA)
- Quotient Limited (UK)
- Siemens Healthineers AG (Germany)
- Sysmex Corporation (Japan)
- Thermo Fisher Scientific Inc. (USA)
- Danaher Corporation (USA)
- Grifols Diagnostic Solutions Inc. (USA)
- Haemonetics Corporation (USA)
- Luminex Corporation (USA)
- Natera, Inc. (USA)
- Novartis International AG (Switzerland)
- PerkinElmer, Inc. (USA)
- Promega Corporation (USA)
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Key Questions Answered in the Blood Screening Market
- What is the key factor driving the blood screening market?
- Which region held the highest market share in the blood screening market report?
- What factors are driving the adoption of blood screening market?
This report provides the following insights:
Analysis of key drivers (Increasing awareness about early disease detection), restraints (Growing ethical challenges), opportunities (Rising demand for personalized medicines), and challenges (Increasing rules and regulatory challenges) influencing the growth of blood screening market
- Market Penetration: Comprehensive information on the product offered by the top players in the blood screening market
- Product Development/Innovation: Detailed insights on the upcoming trends, R&D activities, and product launches in the blood screening market
- Market Development: Comprehensive information on emerging regions
- Market Diversification: Exhaustive information about new products, growing geographies, and recent developments in the market
- Competitive Assessment: In-depth assessment of market segments, growth strategies, revenue analysis, and products of the leading market players.
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