Blood Screening Market To Reach USD 4.86 Billion By 2027 | CAGR:12.7% | Reports And Data

NEW YORK, Aug. 25, 2020 /PRNewswire/ -- The Global Blood Screening Market is forecast to reach USD 4.86 Billion by 2027, according to a new report by Reports and Data. The primary driving factors for the growth of the blood screening market is an increase in the prevalence of infectious diseases, rise in healthcare awareness, growth in the number of blood donations, and surge in NAT (nucleic acid amplification test).

Moreover, support from the government for a better healthcare system and advancement in technology will propel the growth of the market. However, factors such as stringent regulatory approvals and the lack of skilled professionals are hampering the industry's demand.

Various factors are promoting the growth and demand for blood screening. One of these contributing factors is an increase in the rate of technological advancements in the healthcare industry. An increase in the demand for technologically advanced methods in context to sample extraction, preparation, testing, and amplification for nucleic acid-like RNA and DNA, along with strategic agreements with manufacturers of renowned research institutions are promoting research activities, which is forecast to have a positive impact on the market.

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North America accounted for the leading market share, owing to the increased prominence of blood tests, along with a large number of R&D activities taking place in the region. Presence of well-established and equipped health care organizations, government efforts in promoting the use of disposable blood bags, and constantly developing sterility aspects are some of the factors that would further fuel growth in the region.

COVID-19 Impact Analysis:

The market will witness a huge surge as biopharmaceutical innovators are in the front line for the human response to the global COVID-19 pandemic. A significant number of biotech firms are in the middle of the race to investigate the genome of the virus and are preparing a viable vaccine. These companies are investigating the virus at an unprecedented rate, and considerable funds are being put into the research. The companies are in trial, and the public and private sectors are working continuously for the development of the vaccine. There is a huge demand for testing kits for the diagnosis of SARS-CoV-2, which will foster the demand for the market.

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Further key findings from the report suggest

• The reagent and kits segment held a significant share owing to the accessibility of a wide range of reagents and the need for specific, reliable, and fast detection of blood screening. The growing demand for blood transfusion for the treatment of blood disorders contributed to the demand of the industry.
• Nucleic acid testing (NAT) is a kind of molecular method deployed for in cases such as blood donations to screen the blood to decrease the danger of TTIs (transfusion-transmitted infections) in the individual receiving the blood. The main application of the nucleic acid test is associated with detecting viral RNAs and DNAs in a blood sample.
• Hospitals held a larger market share due to the high number of cases recorded there. The segment is expected to grow with a CAGR of XX% during the forecast period.
• Key participants include Danaher Corporation, Abbott Laboratories, Bio-Rad Laboratories, Inc., Becton, Dickinson and Company, F. Hoffmann-La Roche Ltd., Ortho-Clinical Diagnostics, Inc., Grifols, Siemens Healthcare GmbH, SOFINA S.A, and Thermo Fisher Scientific, Inc., among others.

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For the purpose of this report, Reports and Data has segmented the Global Blood Screening Market on the basis of product and services, technology, end-user, and region:

Product and Services Outlook (Revenue, USD Billion; 2017-2027)

• Reagents and Kits
• NAT Reagents and Kits
• Standards and Controls
• Buffers, Nucleotides, and Solutions
• Enzymes and Polymerases
• Probes and Primers
• Labeling and Detection Reagents
• ELISA Reagents and Kits
• Controls
• Substrates
• Immunosorbents
• Conjugates
• Sample Diluents and Wash Solutions
• Instruments
• Rental Purchase
• Outright Purchase
• Software and Services

Technology Outlook (Revenue, USD Billion; 2017-2027)

• ELISA
• Fluorescent immunoassay
• Chemiluminescent Immunoassay
• Colorimetric Immunoassay
• NAT
• Transcription-Mediated Amplification
• Real-time Polymerase Chain Reaction
• Western Blot Assays
• Rapid Tests
• NGS

End-User Outlook (Revenue, USD Billion; 2017-2027)

• Hospitals
• Blood Banks

Regional Outlook (Revenue, USD Billion; 2017-2027)

• North America
• U.S.
• Canada
• Europe
• Germany
• U.K.
• France
• Benelux
• Rest of Europe
• Asia Pacific
• China
• Japan
• South Korea
• Rest of APAC
• Latin America
• Brazil
• Rest of LATAM
• Middle East & Africa
• Saudi Arabia
• UAE
• Rest of MEA

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