Trusted Business Insights answers what are the scenarios for growth and recovery and whether there will be any lasting structural impact from the unfolding crisis for the Blood Screening market.
Trusted Business Insights presents an updated and Latest Study on Blood Screening Market 2019-2029. The report contains market predictions related to market size, revenue, production, CAGR, Consumption, gross margin, price, and other substantial factors. While emphasizing the key driving and restraining forces for this market, the report also offers a complete study of the future trends and developments of the market. The report further elaborates on the micro and macroeconomic aspects including the socio-political landscape that is anticipated to shape the demand of the Blood Screening market during the forecast period (2019-2029).
It also examines the role of the leading market players involved in the industry including their corporate overview, financial summary, and SWOT analysis.
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The global blood screening market size was USD 2.31 billion in 2018 and is projected to reach USD 4.09 billion by 2026, exhibiting a CAGR of 7.4% during the forecast period.
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Introduction of automated molecular platforms for blood screening has been a growing strategy among leading market players and is subsequently boosting the market growth. Blood screening tests are specifically designed to assure the safety of donated blood units, and to detect any marker of transfusion transmissible infection (TTIs) in the blood. Increasing number of blood donations and blood donors, increasing awareness regarding safety of donated blood, rising prevalence of infectious diseases combined with several government initiatives are some of the major factors augmenting the growth of blood screening market.
Introduction of Automated Molecular Platforms for Blood Screening to Fuel Growth
Shift from manual to automated screening platforms has been pivotal in rapid detection of transfusion transmissible infections (TTIs) in the blood samples. Increasing automation is expected to eliminate human error during transfusion screening process. Generally, these screening tests influences a majority of medical decisions made in blood banks and hospitals. For instance, in December 2019, F. Hoffmann-La Roche Ltd announced the CE-IVD launch of ˜cobas, which detects Zika virus in human plasma and is intended to be used in screening blood donations. Hence, introduction of such automated molecular platforms by key players has subsequently resulted in its increasing adoption in blood donation centers. This is projected to further propel the blood screening market growth during the forecast period.
Increasing Number of Blood Donations to Fuel the Demand for Blood Screening
According to World Health Organization (WHO), an approximate 117.4 million blood donations were collected globally in 2018. This was a result of various initiatives taken by governments and non-profit organizations about blood donation which has led to tremendous increase in number of voluntary blood donors and donation campaigns in the past decade. For instance, the Australian Red Cross in 2016 had implemented two initiatives to increase blood donation in the country, first was a SMS alert and second was a toolkit which was used to reduce the anxiety of first time donor, and consequently increased voluntary blood donations in the country.
Along with this, growing awareness concerning blood safety from infectious diseases through several programs is leading to a high demand for blood screening tests worldwide. Increasing cases of accidents and prevalence of chronic disease like cancer is creating a huge demand for blood for treatment of the patient population. It was also validated by various studies that a single victim of a car accident can require up to 100 units of blood and also, while receiving a chemotherapy treatment some of the cancer patients require blood transfusion. Thus, large patient pool of cancer coupled with increase in accidental cases are generating a high demand of blood for their treatment and subsequently increasing the adoption of blood screening tests during the forecast period.
High Cost of Instruments and Inadequate Infrastructure for Blood Screening to Limit the Growth in Emerging Countries
Despite of increasing incidence of transfusion-transmissible infections (TTIs), and higher prevalence of HIV, hepatitis B, hepatitis C, syphilis in emerging countries like India, China, and Africa, there are certain factors that are limiting the blood screening market growth. One of the major factors restraining the market growth is lack of spending on healthcare infrastructure in emerging countries for blood screening procedures. Added to this, is the high cost associated with the test instruments and stringent regulatory policies, are some of the factors expected to hamper the growth of the market during the forecast period.
By Product Type Analysis
Reagents & Kits Segment Dominated the Market in 2018
Based on product type, the blood screening market is segmented into reagents & kits, and instruments. The reagents & kits are used to detect the presence of disease associated antigens in a blood sample. Also, the segment dominated market in 2018 due to its high accuracy for blood testing coupled with the cost effectiveness for customer. Despite of lower cost of reagents & kits as compared to instruments, higher volume consumption of these for tests, is responsible for dominant share of the segment in the market.
Besides, the instruments segment is projected to register a comparatively lower CAGR during the forecast period. Reusable nature of these instruments and a longer life cycle associated with these instruments, are some of the factors attributed to the slow growth of the segment during 2019-2026.
By Technology Analysis
Clinically Proven Efficiency of NAT tests in Blood Screening to Aid Dominance of the Molecular Tests Segment
In terms of technology, the market is segmented into molecular tests and serology tests. The test included under serology are used to detect serum antibodies that are associated with certain type of diseases like HIV, Hepatitis B, Hepatitis C, Zika virus, Syphilis, etc. Among serological tests, Enzyme-Linked Immunosorbent Assay (ELISA), Chemiluminescence Immunoassay (CLIA), and western blotting techniques are generally preferred to screen the blood units. Serology tests segment is expected to grow at a steady CAGR in the forecast period owing to its lower cost in comparison to NAT and other molecular tests and higher adoption of ELISA, and CLIA tests in emerging countries.
However, molecular tests occupied a dominant share of the global market in 2018. The dominance is attributed to the high sensitivity of nucleic acid amplification test (NAT) for detection of viral nucleic acids in blood samples. Additionally, NAT test is proved to be clinically effective for early detection of HIV, HBV and HCV virus and hence, is penetrating at a faster pace among the clinical laboratories globally.
By End User Analysis
Independent Clinical Laboratories Segment Held a Dominant Share of the Market in 2018
Increasing number of stand-alone clinical laboratories in developed and emerging countries, coupled with the high expenditure on its infrastructure is leading to more number of blood screening procedures in such facilities. Additionally, increasing partnerships between blood centers and clinical laboratories, is further fueling the adoption of blood screening tests in these settings and thus, driving the growth of blood screening market during the forecast period.
Similarly, the hospital-based laboratories are projected to gain market share by the end of 2026, owing to the increasing number of blood transfusions procedures in these settings. Along with this, many hospitals worldwide are implementing various patient blood management programs to facilitate transfusion and screening practices, primarily to improve patient outcomes, reduce the costs, and conserve blood units. Hence, such initiatives by hospitals are expected to drive the growth of this segment during the forecast period.
The blood screening market size in North America stood at USD 967.0 million in 2018. The dominance of this region in attributed to increasing number of blood donors, high adoption of blood screening process and greater patient affordability. Also, high awareness among people towards blood safety, is responsible for the dominant share of the region in the global market. For instance, according to The American National Red Cross, it was estimated that every year around 6.8 million people in the U.S donate blood. Introduction of new systems with advanced technologies in European market is anticipated to drive the demand for screening systems during 2019-2026 period. For instance, in December 2019, F. Hoffmann-La Roche launched its cobas Zika test in Europe, used for screening blood donations. The market in Asia-Pacific is projected to grow at a faster pace during the forecast period. Increasing investment by key players in emerging markets, expected regulatory approvals, rising patient affordability are anticipated to drive the demand for blood screening in Asia Pacific during the forecast period. Also, Latin America and the Middle East & Africa accounts for comparatively lower market share owing to presence of large underpenetrated market among these regions. Thus, is expected to register a comparatively lower CAGR during forecast period.
KEY INDUSTRY PLAYERS
Grifols, S.A., and F. Hoffman-La Roche Ltd., Dominated the Global Market in 2018
A diversified product portfolio of diagnostic systems, along with acquisitions and constant innovations by the company leading to new system launch are major factors responsible for the market position of the Grifols, S.A. For instance, in January 2017, Grifols, S.A. acquired Hologics manufacturing plant that was engaged in development of instruments based on NAT technology and was used in transfusion screening.
However, other key players such as F. Hoffmann-La Roche, Bio-Rad Laboratories, Inc., BD, QUOTIENT, Abbott, Beckman Coulter, Inc., and DiaSorin S.p.A. have entered in the blood screening market competition with innovative transfusion screening systems. This is projected to positively impact the market as these companies are anticipated to increase their market share during the forecast period.
LIST OF KEY COMPANIES PROFILED:
- Bio-Rad Laboratories, Inc.
- Grifols, S.A.
- F. Hoffmann-La Roche
- Ortho Clinical Diagnostics
- DiaSorin S.p.A.
- Thermo Fisher Scientific Inc.
- Other Players
KEY INDUSTRY DEVELOPMENTS:
July 2019 “ Abbott received the U.S Food and Drug Administration (FDA) approval for its new blood and plasma screening system i.e. Alinity. This system was specifically designed to screen blood efficiently within a smaller space.
December 2019 “ F. Hoffmann-La Roche Ltd announced the CE-IVD launch of its system ˜cobas, that detects zika virus in human plasma and blood samples, and was intended to be used in screening blood donations.
The blood screening market report provides a detailed analysis of the market and focuses on key aspects such as leading companies, product types, and leading applications of the product. Besides this, the report offers insights into the market trends and highlights key industry developments. In addition to the aforementioned factors, the report encompasses several factors that have contributed to the growth of the market over the recent years.
Report Scope & Segmentation
By Product Type
- Reagents & Kits
- Molecular Tests
- Serology Tests
By End User
- Independent Clinical Laboratories
- Hospital-based Laboratories
- North America (U.S. and Canada)
- Europe (U.K., Germany, France, Italy, Spain, Scandinavia, and Rest of Europe)
- Asia-Pacific (Japan, China, India, Australia, Southeast Asia, and Rest of Asia- Pacific)
- Latin America (Brazil, Mexico, and Rest of Latin America)
- Middle East & Africa (South Africa, GCC and Rest of Middle East & Africa)
Quick Read Table of Contents of this Report @ Blood Screening Market Size, Share & Industry Analysis, By Product Type (Instruments, and Reagents & Kits), By Technology (Molecular Tests, and Serology Tests), By End User (Independent Clinical Laboratories, Hospital-based Laboratories, and Others), and Regional Forecast, 2020-2029(Includes COVID-18 Business Impact)
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