Yahoo Finance Blood Transfusion Diagnostics Global Market Report 2023
Major players in the blood transfusion diagnostics market are BAG Health Care GmbH, Grifols, Bio-Rad Laboratories Inc., Abbott Laboratories, Immucor Inc, Ortho Clinical Diagnostics, DiaSorin S.p.A, Siemens Healthcare Private Limited, Thermo Fisher Scientific Inc.
New York, Feb. 09, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Blood Transfusion Diagnostics Global Market Report 2023" - https://www.reportlinker.com/p06280841/?utm_source=GNW
, and Beckman Coulter Inc.
The global blood transfusion diagnostics market is expected to grow from $3.34 billion in 2021 to $3.65 billion in 2022 at a compound annual growth rate (CAGR) of 9.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, causing inflation across goods and services effecting many markets across the globe. The blood transfusion diagnostics market is expected to grow to $5.35 billion in 2026 at a CAGR of 10%.
The blood transfusion diagnostics market consists of revenues earned by entities by providing installation and maintenance services.The market value includes the value of related goods sold by the service provider or included within the service offering.
The blood transfusion diagnostics market also includes sales of blood transfusion diagnostics devices.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Blood transfusion diagnostics are used to conduct tests before the transfusion of blood from donor-recipient such as blood grouping disease screening.
North America was the largest region in the blood transfusion diagnostics market in 2022.Western Europe was the second largest region in the blood transfusion diagnostics market.
The regions covered in blood transfusion diagnostics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The main types of blood transfusion diagnostics are instruments and kits, reagents, and others.The blood transfusion diagnostic kits are used to collect and transfuse blood.
The technologies involved in blood transfusion diagnostics are western blot, ELISA, nucleic acid amplification, fluorescence assay, and rapid test that are used for various applications such as blood grouping and disease screening. The end-users involved are hospitals, diagnostic laboratories, blood banks, and plasma fractionation companies.
Patients undergoing surgical procedures need a blood transfusion to replace the lost blood during the procedure.Blood transfusion diagnostics are used during the procedures to screen the blood before transferring it to the patient and will otherwise increase the incidence of infectious disease.
According to an article published in the US National Library of Medicine, National Institutes of Health, approximately 310 million surgeries are being performed each year. This increase in the number of procedures will thereby drive the need for blood transfusion diagnostics.
Developing and underdeveloped countries lack adequate blood banks, proper medical equipment for blood transfusion, adequate conditions for the storage of blood, and low supply for the high demand of blood.Hospitals are not equipped with proper amenities that help provide hygienic and safe transfusions.
For example, according to research conducted by India Spend, around 1.18 million units of blood were wasted during storage in the form of discoloration, bacterial contamination, and expiry due to outdating. The poor infrastructure hampers the growth of the blood transfusion diagnostic market.
The growing demand for advanced diagnostic measures and growing prevalence of infectious diseases associated with pathogens such as bacteria & viruses increase the preference for nucleic acid amplification testing (NAAT/NAT) to increase blood safety, improve efficiency and reduce the turnaround time of the results.NAT is a technique that helps detect a particular nucleic acid, virus, or bacteria that acts as a pathogen in blood, tissue, or urine.
NAT is highly sensitive and specific for viral nucleic acids and amplifies the region of targeted viral DNA and detects them earlier than the other traditional methods and narrows the period of infectious diseases. For example, XCRP Diagnostic Inc. and Luminex Corporations entered into a licensing agreement of XCR Diagnostic’s Xtreme Chain Reaction Nucleic Acid Amplification Technology. In this deal, Luminex got the exclusive rights to use the XCR Diagnostic’s NAAT technology for their future molecular diagnostic portfolio.
The blood transfusion diagnostics market is highly regulated by governing bodies such as USFDA (the USA Food and Drug Administration), and the Medicines and Healthcare products Agency (MHRA).For instance, the manufacturers and service providers in the USA must comply with the Center for Biologics Evaluation and Research (CBER) Regulations that have been published in the first chapter title 21 of the Code of Federal Regulations (CFR).
Part 600 of CFR 21 primarily focuses on the established standards like retention samples conditions, temperature to be maintained during shipment, sterilization of equipment, and role and duties of the inspector to inspect the laboratories. The regulation also allows the manufacturer to report any kind of deviation of their product from their intended purpose.
The countries covered in the blood transfusion diagnostics market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.
The market value is defined as the revenues that enterprises gain from goods and/or services sold within the specified market and geography through sales, grants, or donations in terms of currency (in USD ($) unless otherwise specified).
The revenues for a specified geography are consumption values – that is, they are revenues generated by organizations in the specified geography within the specified market, irrespective of where they are produced. It does not include revenues from resales either further along the supply chain or as part of other products.
The blood transfusion diagnostics market research report is one of a series of new reports that provides blood transfusion diagnostics market statistics, including blood transfusion diagnostics industry global market size, regional shares, competitors with a blood transfusion diagnostics market share, detailed blood transfusion diagnostics market segments, market trends and opportunities, and any further data you may need to thrive in the blood transfusion diagnostics industry. This blood transfusion diagnostics market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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