Blood Screening Market Analysis and Forecast to 2031: By Product & Service (Reagents & Kits, Instruments, Software & Services), Technology (Nucleic Acid Test, ELISA, Rapid Test, Western Blot Assays, Next-Generation Sequencing), End User (Blood Banks, Hosp

Blood Screening Market Analysis and Forecast to 2031: By Product & Service (Reagents & Kits, Instruments, Software & Services), Technology (Nucleic Acid Test, ELISA, Rapid Test, Western Blot Assays, Next-Generation Sequencing), End User (Blood Banks, Hospitals) and Region

The blood screening market size was USD 2.8 billion in 2021 and it is anticipated to reach USD 5.5 billion in 2031, growing at a CAGR of 6.9% from 2022-2031.

Blood screening is a medical process in which blood is examined for a specific disease or condition. It aids in monitoring disease and preventing health issue and a variety of other conditions such as infection and cancer. Human Immunodeficiency Virus (HIV), blood type, and pregnancy screenings are the most common types of blood screening.

Blood Screening Market Scope and Structure Analysis

Market Trends and Drivers

The key factor boosting the market growth is an increasing number of blood donations across the globe. There is an increase in the need for donated blood owing to advancements in healthcare systems and the availability of and the need for sophisticated surgical procedures, like cardiovascular & transplant surgery, trauma care, and therapy for cancer and blood diseases. On an average around 235 million major surgeries are being performed across the globe every year, of which 63 million are traumatic surgeries, cancer-related are over 31 million, and 10 million are related to pregnancy complications. Blood transfusion is generally prescribed in complicated childbirth to prepare for childhood congenital maternal blood disorders, acute anemia, and trauma.

Similarly, emerging markets such as India, the Middle East, and Africa offer promising opportunities for players in the blood screening industry owing to their rising disposable incomes and improving healthcare infrastructure. For example, according to Statista (August 2021), in 2017 India’s healthcare was worth about USD 160 billion, and it was anticipated to reach USD 372 billion by 2022 owing to rising income levels, increasing awareness about health, and the incidences of lifestyle diseases are growing year by year. Currently, the widely used technology in India is ELISA, because NAT registered relatively low penetration. Unlike the US, Canada, most of Europe, Japan, Korea, Singapore, Sri Lanka, the UAE, South Africa, Thailand, and China; NAT is still not mandatory in India. Almost 100 blood banks, comprising AIIMS, PGI Chandigarh, CMC Vellore, Medanta-The Medicity, and Narayana Hrudayalaya, are using NAT in ID-NAT format, whereas around 40 blood banks are using the pooling technique. So, an initiative is taken by the Indian government to train doctors, hospitals, and blood banks on using NAT.

Market Restraints & Challenges

One of the primary challenges in the growth of the global blood screening market is the alternative technologies. Digital immunoassays are a one-step solution for single-molecule detection without requiring washing steps based on ELISA using an array of femtoliter-sized wells. In this assay, a biomarker molecule is conjugated with an antibody-coated magnetic microparticle seeded in a well, amplified via an enzyme reaction, and detected with fluorescence. These tests have seen significant interest owing to the urgent and ever-increasing demand for serological COVID-19 antibody tests that are inexpensive, rapid, simple, highly sensitive, quantitative, and minimally invasive. So, a single-step, wash-free immunoassay for rapid and highly sensitive quantitative analysis of human serological IgG against SARS-CoV-2 has been developed, which requires only a single droplet of serum.

Global Blood Screening Market Segmentation

The report analyses the blood screening market based on product & service, technology, end user, and region.

Global Blood Screening Market by Product & Services

On the basis of product & services, it is segmented into reagents & kits, instruments, and software and services. The reagents and kits segment is likely to dominate the market during the forecast period 2022-2031. The increase in blood transfusion procedures leads to the higher consumption and frequent use of reagents & kits in blood screening procedures. Is boosting the growth of the market.

Global Blood Screening Market by Technology

Based on technology, it is segmented into the nucleic acid test, ELISA, rapid tests, western blot assays, and next-generation sequencing. The nucleic acid test segment is likely to dominate the market in 2021. The key factors such as increasing adoption of NAT technology owing to higher sensitivity over other blood donations are boosting the growth of the market.

Global Blood Screening Market by End User

Based on end user, it is segmented into blood banks and hospitals. The blood bank segment is likely to dominate the market during the forecast period. The increasing number of organ transplantation surgeries is boosting the growth of this segment during the forecast period.

Geographical Analysis of Global Blood Screening Market

Region-wise, it is studied across North America, Europe, Asia Pacific, and the Rest of the World. North America is accounted for the higher share of the blood screening market. The growth of the market is attributed to the increasing healthcare spending combined with the increasing prevalence of chronic disorders, the increasing healthcare spending, the increasing prevalence of chronic disorders, and the highly developed healthcare system in the US and Canada.

Major Players of the Global Blood Screening Market

The global blood screening market report comprises key players such as Grifols (Spain), F. Hoffmann-La Roche Ltd. (Switzerland), Abbott Laboratories, Inc. (US), bioMérieux (France), Bio-Rad Laboratories, Inc. (US), Becton, Dickinson and Company (US), Beckman Coulter, Inc. (Danaher) (US), DiaSorin (Italy), Siemens Healthineers (Germany), Thermo Fisher Scientific, Inc. (US), Ortho Clinical Diagnostics Inc. (US), GE Healthcare (US), Merck KGaA (Germany), PerkinElmer (US), Bio-Techne Corporation (US), GFE (Germany), Trinity Biotech (Ireland), Mindray (China), Maccura Biotechnology Co., Ltd. (China), Immucor, Inc. (US), Cellabs (Australia), Abnova Corporation (Taiwan), Enzo Biochem, Inc. (US), and Cepheid (US).

COVID-19 Analysis

The emergence of the COVID-19 pandemic has changed the delivery of medical care across the world. The increased pressure owing to the growing rate of hospitalization of COVID-19 patients has led to the re-profiling of many hospitals and departments for treating patients with COVID-19. The COVID-19 outbreak led to curfews and lockdowns across the globe, leading to stalled blood donations, decreased/canceled collection drivers, and reduced demand for donated blood. It has mild-moderately affected the growth of the blood screening market. As stringencies with respect to curfews and social distancing become more liberal, the demand is expected to grow, creating a deficit in the market. However, governments across the globe are taking initiatives to increase donations during the forecast period to meet the sudden rise in demand following the lockdown.

Adding to that, the number of cancer patients are increasing which is also driving the need for donated blood. There is a need for blood and platelets during the treatment (chemotherapy) of cancer patients, blood replacement (for blood cancer patients), and surgery. As per the US National Center for Biotechnology Information (NCBI), cancer patients account for 20% to 30% of blood transfusions. As per the Leukemia & Lymphoma Society (2021), an expected combined total of 186,400 people in the US are expected to be diagnosed with leukemia, lymphoma, or myeloma in 2021. This is expected further to drive the demand for the blood screening market.

Recent Developments

• June 2021, Grail, announced the launch of the Galleri Blood test, the company’s innovative multi-cancer screening diagnostic capable of detecting the presence of multiple cancers. This test will help the company screen around 50 million people after its launch and pursue a full FDA approval by 2022.
• May 2021, Tzar Labs, announced early detection cancer tests. This test will aid in determining the different stages of the disease and will be launched by the end of this year. The company’s accuracy rates are very high for screening of cancer and had shown results for all types of cancers.
• May 2021, Beckmann Coulter launched the SARS-CoV-2-IgG test to assess antibody immune response levels.
• September 2021, Roche Diagnostics acquired TIB Molbiol Group. This acquisition will enhance Roche’s broad portfolio of molecular diagnostics solutions with a wide range of assays for infectious diseases, such as identifying SARS-CoV-2 variants.
• February 2020, BD acquired NAT Diagnostics, this acquisition strengthened an early-stage company developing a molecular diagnostic platform for POC testing.

Frequently Asked QuestionsQ. How big is the blood screening market?Ans. The global blood screening market size was USD 2.8 billion in 2021 and is anticipated to reach USD 5.3 billion in 2031, growing at a rate of 6.9% from 2022 to 2031.Q. What is the blood screening market growth rate?Ans. The growth rate of the blood screening market is 6.9% from 2022 to 2031.Q. Which region holds a major market share for the blood screening market?Ans. North America holds a major market share of the blood screening market in 2021.Q. Which segment accounted for the largest blood screening market share?Ans. By end-user, the blood banks segment accounted for the largest blood screening market shareQ. Who are the key players in the blood screening market?Ans. The global blood screening market report includes players such as Grifols (Spain), F. Hoffmann-La Roche Ltd. (Switzerland), Abbott Laboratories, Inc. (US), bioMérieux (France), Bio-Rad Laboratories, Inc. (US), Becton, Dickinson and Company (US), Beckman Coulter, Inc. (Danaher) (US), DiaSorin (Italy), Siemens Healthineers (Germany), Thermo Fisher Scientific, Inc. (US), Ortho Clinical Diagnostics Inc. (US), GE Healthcare (US), Merck KGaA (Germany), PerkinElmer (US), Bio-Techne Corporation (US), GFE (Germany), Trinity Biotech (Ireland), Mindray (China), Maccura Biotechnology Co., Ltd. (China), Immucor, Inc. (US), Cellabs (Australia), Abnova Corporation (Taiwan), Enzo Biochem, Inc. (US), and Cepheid (US).Q. What are the factors driving the blood screening market growth?Ans. The major factors driving the growth of the market are the high number of blood donations across the globe.Q. What are the key growth strategies of blood screening market players?Ans. The key growth strategies of blood screening market players are product launch and product approval.Q. Which region will provide more business opportunities for the blood screening market during the forecast period?Ans. The Asia-Pacific region will provide more business opportunities for blood screening market during the forecast period.

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