Blood-Grouping Reagents Market Set to Grow at 8.13% CAGR Through 2028

The Blood-Grouping Reagents Market is poised for significant expansion, with projections indicating a growth of USD 520.68 million at a Compound Annual Growth Rate (CAGR) of 8.13% between 2023 and 2028. This forecast is driven by increasing global blood donation rates and heightened awareness about the critical need for blood donations. 

The rising incidence of conditions requiring blood transfusions, such as severe anemia, liver and kidney diseases, and hemophilia, has fueled this trend. As more individuals recognize the benefits of donating blood, including improvements in emotional and physical health, the supply of blood components, including reagents, is strengthening. This growth is pivotal for meeting the demands of healthcare providers and optimizing inventory management amidst rising healthcare expenditure.

To get more Information: Download Blood-Grouping Reagents Market Sample PDF!

Market Segmentation Analysis

End-User Segment Dynamics

Hospitals and Blood Banks

During the forecast period, the segment encompassing hospitals and blood banks is expected to dominate the Blood-Grouping Reagents Market. This dominance is attributed to the high utilization of reagents in these settings due to the increasing demand for blood transfusions. Factors such as rising hospitalizations for cancer treatments, chronic diseases, and emergency situations like road accidents contribute significantly to the demand for blood-grouping reagents.

In 2018, the hospital and blood bank segment was valued at USD 397.62 million. The surge in blood donation campaigns, driven by growing public awareness, is expected to further amplify the demand for these reagents. Hospitals and blood banks play a crucial role in handling and processing blood, making them significant contributors to market growth.

Technique-Based Analysis

PCR and Microarray Techniques

The PCR (Polymerase Chain Reaction) and microarray techniques are anticipated to hold a major share in the market. PCR is a widely employed molecular biology technique that amplifies specific DNA sequences related to blood-group antigens, enhancing detection and analysis. Microarray technology allows for the simultaneous detection of multiple DNA sequences, offering high sensitivity and detailed analysis of various blood group antigens. These techniques are favored for their ability to analyze multiple blood group antigens simultaneously, contributing to their dominance in the market.

Assay-Based Techniques

Assay-based blood grouping techniques, which involve detecting specific antigens or antibodies in blood, are also crucial. These methods, including forward typing and reverse typing, are essential for determining compatibility and ensuring accurate transfusions. Forward typing involves testing blood with known antibodies, while reverse typing tests serum with known red blood cells. These techniques are fundamental for compatibility testing and play a significant role in the market's growth.

Regional Market Insights

North America

North America is projected to contribute significantly to the global Blood-Grouping Reagents Market growth, accounting for 45% of the market during the forecast period. This growth is primarily driven by the high prevalence of chronic conditions such as leukemia and the increasing demand for blood-grouping reagents due to high cancer treatment rates. The availability of a broad range of products and the presence of numerous US companies specializing in blood-grouping reagents support market expansion in the region.

Market Dynamics and Insights

Key Market Drivers

Rising Prevalence of Chronic Disorders

The market is witnessing substantial growth due to the increasing prevalence of chronic disorders such as diabetes and cancer. The need for early diagnosis and effective patient care outcomes drives the demand for blood-grouping reagents. Cancer patients, in particular, often require transfusions during treatment, as chemotherapy can adversely affect bone marrow function, leading to low blood counts and increased mortality rates.

Emerging Market Trends

Increased Healthcare Facility Penetration

One of the significant trends in the market is the increasing penetration of healthcare facilities. Blood grouping is a fundamental test required before conducting advanced diagnostic procedures. In developing economies, particularly in rural areas, the lack of healthcare infrastructure poses challenges. However, public healthcare spending is increasing, and various government initiatives are aimed at improving access to healthcare facilities.

Government Initiatives for Blood Safety

Regional government bodies are implementing initiatives to ensure blood safety, driven by concerns about transmissible diseases such as HIV, hepatitis B, and syphilis. The development of national blood policies and sensitive donor screening tests by organizations like the US FDA aims to enhance blood safety and address emerging threats.

To get more Information: Download Blood-Grouping Reagents Market Sample PDF!

Key Market Players and Strategies

Leading Companies

Several key players are shaping the Blood-Grouping Reagents Market through strategic initiatives, including alliances, mergers, acquisitions, geographical expansions, and product launches. Notable companies in the market include:

  • AliveDX: Offers reagents such as ALBAclone Anti A, ALBAclone Anti B, and ALBAlect Anti A1 lectin.
  • Arena Bio Sciences
  • ARKRAY Inc.
  • Atlas Medical GmbH
  • BAG Health Care GmbH
  • Bio-Rad Laboratories Inc.
  • Calibre Scientific Inc.
  • Danaher Corp.
  • DIAGAST SAS
  • Grifols SA
  • Merck KGaA
  • Novacyt SA
  • QuidelOrtho Corp.
  • Rapid Labs Ltd.
  • Thermo Fisher Scientific Inc.
  • Torax Biosciences Ltd.
  • Tulip Diagnostics Pvt. Ltd.
  • Fortress Diagnostics
  • Paragon Care Ltd.
  • Vitro Scient

Conclusion

The Blood-Grouping Reagents Market is set for significant growth, driven by increasing blood donation rates, advancements in technology, and rising prevalence of chronic diseases. With a projected growth of USD 520.68 million at a CAGR of 8.13% from 2023 to 2028, the market is expected to expand substantially. Key players are actively enhancing their market presence through strategic initiatives, while regional contributions and emerging trends shape the market dynamics. Despite challenges related to blood transfusion risks, the overall outlook for the Blood-Grouping Reagents Market remains positive, with ongoing efforts to improve safety and efficiency in blood transfusion practices.

Contact us for tailored solution

Technavio Research

Jesse Maida

Media & Marketing Executive

US: +1 844 364 1100

UK: +44 203 893 3200

Email: media@technavio.com

Website: www.technavio.com/


Comments

Post a Comment

Popular posts from this blog

Car Care Products Market: Trends, Dynamics, and Forecast to 2027

The Car Care Products Market is anticipated to experience significant growth, with an estimated Compound Annual Growth Rate (CAGR) of 5.48% from 2023 to 2027. The market size is expected to increase by USD 3,585.56 million during this period. Several factors contribute to this growth, including the rising demand for aftermarket car cleaning products, the continued prevalence of internal combustion engine (ICE) vehicles, and increased disposable incomes. Stay ahead of the curve : Download Car Care Products Market Sample PDF! Historical Data and Market Evolution From 2017 to 2021, the market for car care products saw considerable advancements, influenced by technological innovations and increased consumer awareness about vehicle maintenance. The analysis includes data from these years to provide a comprehensive view of market trends and projections. Segmentation Insights Application-Based Segmentation Interior Car Care Products The interior segment, which includes products for cleaning...
Read more

Commercial Kitchen Knives Market 2024-2028: Cutting Through Growth at 5.46% CAGR

In the bustling world of culinary innovation, the choice of kitchen knives can make all the difference between ordinary and extraordinary dishes. The Commercial Kitchen Knives Market is experiencing a surge in growth, poised to increase by USD 133.8 million with an estimated CAGR of 5.46% between 2023 and 2028. This growth trajectory is driven by several key factors reshaping the landscape of professional food preparation worldwide. Download Sample PDF on  Commercial Kitchen Knives Market now! Tailored Precision: Customized Commercial Kitchen Knives As the culinary sphere expands with the emergence of new restaurants and catering services, the demand for specialized kitchen tools is on the rise. Chefs seek precision and efficiency in their craft, driving the trend towards customized commercial kitchen knives. These bespoke tools are tailored to individual preferences, enhancing chefs' ability to execute their culinary visions with accuracy. Hygiene and Safety: The Rise of Color-C...
Read more

Africa Beauty and Personal Care Market Set to Surge with 7.54% CAGR by 2027

Delve into the vibrant realm of Africa Beauty and Personal Care Market , poised for substantial expansion with a projected growth of USD 6.65 billion and a robust CAGR of 7.54% spanning from 2023 to 2027. Our comprehensive analysis scrutinizes market dynamics, drawing insights from historical data spanning 2017 to 2021 while dissecting the present market landscape. Request for   Africa Beauty and Personal Care Market Sample PDF Embracing Afrocentric Trends Africa Beauty and Personal Care Renaissance The burgeoning urbanization of African nations has ushered in a wave of market opportunities, with a growing emphasis on Afrocentric preferences shaping consumer demand. The influx of global brands, attuned to local needs, underscores a strategic shift towards tailored product offerings. Brands like Loreal are leading the charge by crafting region-specific beauty solutions, eschewing Western or Asian-centric products. This concerted effort to align with Afrocentric requirements forms ...
Read more