North America Blood Transfusion Diagnostics Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Product (Instruments & Kits and Reagents), Application (Blood Grouping and Disease Screening), and End User (Hospitals, Diagnostic Laboratories, Blood Banks, and Plasma Fractionation Companies)
The North America blood transfusion diagnostics market is expected to grow from US$ 1,815.82 million in 2022 to US$ 2,742.80 million by 2028. It is estimated to grow at a CAGR of 7.1% from 2022 to 2028.
Need for Blood Transfusion due to Rise in Organ Transplants Surgeries Drives Market Growth
Organ transplantation is a surgical procedure performed in case of failure of organs such as heart, liver, and kidney. The rising cases of chronic diseases, such as chronic kidney disease (CKD), polycystic kidney disease, cystic fibrosis, and congenital heart disease, are triggering the number of organ transplant surgeries performed. These procedures generally take hours, and a lot of blood is lost during the procedure, which leads to the requirement for blood transfusion. The public-private partnership, in collaboration with transplant coordinators, has significantly contributed to the improvement of organ transplants that require a constant need for blood transfusion. The number of organ transplant surgeries has surged in, both, developing and developed countries. Healthcare sectors in developing countries, which are gathering large attention as medical tourism destinations, are undergoing continuous advancements, which allows them to provide better and more modern medical treatments. The rising need for organ transplants is a key factor driving the demand for blood transfusion diagnostics across North America.
The North America blood transfusion diagnostics market has been segmented into the US, Canada, and Mexico; the US is the largest contributor to the market in this region. The blood transfusion diagnostics market growth in North America is attributed to the rising number of surgical procedures for chronic health conditions. Per the American National Red Cross Organization, 2022, ~29,000 units of red blood cells; ~5,000 units of platelets; and ~6.500 units of plasma are needed daily in the US. ~16 million blood components are transfused each year in the US. A car accident victim may require as many as 100 units of blood. According to data published by the American Academy of Orthopedic Surgeons in 2018, orthopedic surgeries are among the most commonly performed procedures in the world. Studies conducted by the American Academy of Orthopedic Surgeons estimated that the number of total joint replacement (TJR) procedures is likely to surge by 171% by 2030, while total knee replacement procedure count is expected to surge by 189%, reaching ~635,000 and 1.28 million, respectively. Thus, with the elevating number of patients undergoing orthopedic surgeries, the demand for blood transfusion is also rising, thereby boosting the blood transfusion diagnostic market in North America.
North America Blood Transfusion Diagnostics Market Revenue and Forecast to 2028 (US$ Million)
North America Blood Transfusion Diagnostics Market Segmentation
The North America blood transfusion diagnostics market is segmented based on product, application, end user, and country. Based on product, the market is bifurcated into instruments & kits and reagents. The instruments & kits segment held a larger market share in 2022. on the basis of application, the North America blood transfusion diagnostics market is bifurcated into blood grouping and disease screening. The disease screening segment held a larger market share in 2022. In terms of end user, the North America blood transfusion diagnostics market is segmented into hospitals, diagnostic laboratories, blood banks, and plasma fractionation companies. The blood banks segment dominated the market in 2022. The North America blood transfusion diagnostics market, by country, has been classified as the US, Canada, and Mexico; the US dominated the market in 2022.
Abbott; BAG Diagnostics GmbH; Bio-Rad Laboratories, Inc.; DiaSorin S.p.A.; F. Hoffmann-La Roche Ltd; Grifols, S.A.; Immucor, Inc.; Ortho Clinical Diagnostics (QuidelOrtho Corporation); Quotient Limited; and Thermo Fisher Scientific Inc. are the leading companies operating in the North America blood transfusion diagnostics market.
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