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Countries covered: Europe
Widespread concern over blood safety ensures a continued emphasis on blood screening technologies. "Public perception over the safety of blood and blood products will likely continue, specifically concerning HIV and HCV testing," states the author of the report. "Addressing these issues is likely to act as a catalyst for revenue growth in this market, rejuvenating the blood bank diagnostics market." Development in other products should also work to alleviate public fears regarding blood safety. New advances in process control and throughput rates will work to eliminate human error. Even though the rate of human error is already low, the goal of many organizations is to eradicate it completely and also reduce the number of false-positive results. The restructuring of the blood banking diagnostics industry, marked by extensive consolidations, has brought about a reduction in the number of blood banks and a centralization of the screening sites. This has caused a drop in the market size and a rapid increase in competition. The market is difficult to penetrate, with only a few players dominating a significant portion. The major competitive issue is cost because the end users are publicly supplied bodies, with funds that are limited by the national health budget for the country. Companies that can provide a host of products at a cost-efficient price are likely to gain market share. This Frost & Sullivan report guides users through the twist and turns in this market, and can help successfully establish a company in the industry. |
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