NEW YORK, Jan. 24, 2017 /PRNewswire/ -- The blood screening market is expected to reach USD 2.80 billion by 2021 from USD 1.76 billion in 2016, at a CAGR of 9.7%. The global blood screening market is categorized based on technology, product & service, end user, and region. The technology segment includes nucleic acid tests (NAT), enzyme-linked immunosorbent assay (ELISA), rapid tests, western blot assays, and next-generation sequencing (NGS). The NAT segment is expected to grow at the highest CAGR during the forecast period. Major factors contributing to the growth in this segment are increasing number of blood donations, rising incidence of various infectious diseases, and increasing disposable income to pay for advanced blood screening procedures including NAT-test.
On the basis of product & service, the market is segmented into reagents & kits, instruments, and software & services. In 2016, the reagents and kits segment is expected to account for the largest share of the market. The repeated usage of reagents and kits is the key driving factor driving the growth of this segment.
On the basis of end user, the market is segmented into blood banks and hospitals. In 2016, the blood banks segment is expected to account for the largest of the market. This is primarily due to the increasing number of organ transplantation surgeries, increasing demand for donated blood, rising awareness regarding the safety of blood, and increasing number of donations worldwide.
Geographically, the blood screening market is dominated by North America, followed by Europe, Asia, and the Rest of the World (RoW). The growth of this market can be attributed to the increasing adoption of nucleic acid tests (NAT) in this region. In addition, the increasing participation of various government associations in blood donations and screening & transfusion activities also supports the growth of the North American blood screening market.
Globally, the blood screening market is witnessing substantial growth due to factors such as increasing number of blood donations and blood donors, growing affordability and adoption of nucleic acid test (NAT) for blood screening, rising awareness regarding the safety of donated blood, growing demand for donated blood, and increasing prevalence/incidence of infectious diseases.
The major players in this market include Grifols (Spain), Siemens Healthineers (Germany), Roche Diagnostics (Switzerland), Ortho Clinical Diagnostics, Inc. (U.S.), Abbott Laboratories (U.S.), Thermo Fisher Scientific, Inc. (U.S.), bioMérieux (France), Beckman Coulter, Inc. (U.S.), Bio-Rad Laboratories, Inc. (U.S.), and Becton, Dickinson and Company (U.S.).
Apart from comprehensive geographic and product analysis and market sizing, the report also provides a competitive landscape that covers the growth strategies adopted by industry players over the last three years. In addition, the company profiles comprise the product portfolios, developments, and strategies adopted by the market players to maintain and increase their shares in the market. The abovementioned market research data, current market size, and forecast of the future trends will help key market players and new entrants to make the necessary decisions regarding product offerings, geographic focus, change in strategic approach, and levels of output in order to remain successful in the blood screening market.
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This report will enable both established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in turn will help these firms garner greater market shares. Firms purchasing the report can use any one or a combination of the below-mentioned five strategies (market penetration, product development/innovation, market development, market diversification, and competitive assessment) for strengthening their market shares.
The report provides insights on the following pointers:
- Market Penetration: Comprehensive information on the product portfolios of the top players in the blood screening market. The report analyses the blood screening market by technology, product & service, end user, and region
- Product Development/Innovation: Detailed insights on the upcoming technologies, R&D activities, and new product launches in the blood screening market
- Competitive Assessment: In-depth assessment of the market strategies, geographic and business segments, and product portfolios of the leading players in the blood screening market
- Market Development: Comprehensive information about emerging markets. This report analyses the market for various blood screening products across geographies
- Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the blood screening market
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