The Worldwide Blood Transfusion Diagnostics Industry is Expected to Reach $6.4 Billion by 2028

DUBLIN, Oct. 11, 2022 /PRNewswire/ -- The "Blood Transfusion Diagnostics Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Product, Application, and End User" report has been added to  ResearchAndMarkets.com's offering.

The global blood transfusion diagnostics market is expected to grow from US$ 4,096.93 million in 2021 to US$ 6,483.75 million by 2028. It is estimated to grow at a CAGR of 6.9% from 2022 to 2028. The report highlights prevailing trends and factors driving the market growth.

The growth of the global blood transfusion diagnostics market is attributed to the rapid increase in chronic diseases and the need for blood transfusion due to the rise in organ transplant surgeries. However, the problems associated with blood transfusion services hinder the overall market growth.

Blood transfusion diagnostics refers to tests performed on blood and blood components before they are transfused to patients. A blood transfusion is a common procedure in which donated blood or blood components are transfused into the patient's body through an intravenous line (IV).

Each unit of blood must undergo blood typing, which refers to identification of blood type and blood screening, including disease detection tests to avoid side effects or transmission of infection. Blood screening before transfusion is performed through instruments, kits, and reagents to identify various diseases, such as HIV, hepatitis B, hepatitis C, Zika, and different viruses and infections.

According to the data published by the National Institute of Cancer Prevention and Research (NICPR) and the Indian Council of Medical Research (ICMR), the yearly prevalence of cancer in India is estimated at ~2.25 million, leading to numerous surgical procedures.

Chronic diseases, such as cancer, cardiovascular diseases, and renal disorders, are major causes of human death worldwide. These conditions are generally treated via surgical procedures, which are associated with a chance of excessive blood loss. Fresh blood is infused into patients to maintain their blood levels. Blood transfusion diagnostics are used during the blood infusion or reinfusion processes. Hence, the global blood transfusion diagnostics market is rising with the rapid increase in chronic diseases.

Impact of COVID-19 Pandemic on Global Blood Transfusion Diagnostics Market

The COVID-19 pandemic negatively impacted blood services operations worldwide. Blood collection was affected due to the decrease in donor availability caused by avoidance of public places, social distancing policies, and cancellation of blood drives. The negative impact on blood collection led to a reduction in blood transfusion due to insufficient blood supply.

For instance, a research conducted by RMIT University, Australia, titled "The Impact of COVID-19 on Blood Transfusion Services: A Systematic Review and Meta-Analysis," revealed that the average decrease in blood donations was found to be 38% in the country. To cope with the blood shortage, campaigns were implemented to appeal for blood donation, raise public awareness about the importance of blood donation, and gain donors' confidence in safe blood donation. For instance, upon Korean Red Cross Blood Services' (KRCBS) request, the Ministry of Health and Welfare (MoHW) approved the relaxation of the geographical restrictions regarding indigenous malaria, thus enabling the collection of more than 23,000 units of whole blood.

Furthermore, doctors took the initiative to control unnecessary blood transfusions. For instance, according to the news published by ABC Science, in March 2022, Australian doctors warned against unnecessary blood transfusions in Australian hospitals. Also, as medical and surgical practices were restricted, the need for blood transfusions was decreased too. Thus, the above factors and instances indicate that the blood transfusion diagnostic market witnessed a negative COVID-19 impact.

Key Topics Covered:

1. Introduction

2. Blood Transfusion Diagnostics Market - Key Takeaways

3. Research Methodology

4. Blood Transfusion Diagnostics Market - Market Landscape
4.1 Overview
4.2 PEST Analysis
4.2.1 North America PEST Analysis
4.2.2 Europe PEST Analysis
4.2.3 Asia Pacific PEST Analysis
4.2.4 Middle East & Africa PEST Analysis
4.2.5 South & Central America PEST Analysis
4.3 Experts Opinion

5. Blood Transfusion Diagnostics Market - Key Market Dynamics
5.1 Market Drivers
5.1.1 Rapid Increase in Chronic Diseases
5.1.2 Need For Blood Transfusion due to Rise in Organ Transplants Surgeries
5.2 Market Restraints
5.2.1 Problems associated with Blood Transfusion Services
5.3 Market Opportunities
5.3.1 Elevated Healthcare Expenditure in Emerging Economies
5.3.2 Growing Initiatives by Governments
5.4 Future Trends
5.4.1 Technological Developments in Blood Transfusion Diagnostics
5.5 Impact Analysis

6. Blood Transfusion Diagnostics Market- Global Analysis
6.1 Global Blood Transfusion Diagnostics Market Revenue Forecast and Analysis
6.1.1 Global Blood Transfusion Diagnostics Market Revenue Forecast and Analysis
6.1.2 Global Blood Transfusion Diagnostics Market - Market Potential Analysis, By Region
6.2 Market Share Analysis of Key Players in Blood Transfusion Diagnostics Market
6.2.1 Company Analysis
6.2.2 Growth Strategy Analysis
6.2.3 Performance of Key Players
6.2.3.1 Grifols S.A.
6.2.3.2 F. Hoffmann-La Roche Ltd

7. Blood Transfusion Diagnostics Market Analysis and Forecasts To 2028 - By Product
7.1 Overview
7.2 Blood Transfusion Diagnostics Market Revenue Share, by Product (2021 and 2028)
7.3 Instruments and Kits
7.3.1 Overview
7.3.2 Instruments and Kits: Blood Transfusion Diagnostics Market - Revenue and Forecast to 2028 (USD Million)
7.4 Reagents
7.4.1 Overview
7.4.2 Reagents: Blood Transfusion Diagnostics Market - Revenue and Forecast to 2028 (USD Million)

8. Blood Transfusion Diagnostics Market Analysis - By Application
8.1 Overview
8.2 Blood Transfusion Diagnostics Market Revenue Share, by Application (2021 and 2028)
8.3 Disease Screening
8.3.1 Overview
8.3.2 Disease Screening: Blood Transfusion Diagnostics Market - Revenue and Forecast to 2028 (USD Million)
8.4 Blood Grouping
8.4.1 Overview
8.4.2 Blood Grouping: Blood Transfusion Diagnostics Market - Revenue and Forecast to 2028 (USD Million)

9. Blood Transfusion Diagnostics Market Analysis - By End User
9.1 Overview
9.2 Blood Transfusion Diagnostics Market Share, by End User, 2021 and 2028, (%)
9.3 Blood Banks
9.3.1 Overview
9.3.2 Blood Banks: Blood Transfusion Diagnostics Market, Revenue and Forecast to 2028 (US$ Million)
9.4 Hospitals
9.4.1 Overview
9.4.2 Hospitals: Blood Transfusion Diagnostics Market - Revenue and Forecast to 2028 (USD Million)
9.5 Diagnostic Laboratories
9.5.1 Overview
9.5.2 Diagnostic Laboratories: Blood Transfusion Diagnostics Market, Revenue and Forecast to 2028 (US$ Million)
9.6 Plasma Fractionation Companies
9.6.1 Overview
9.6.2 Plasma Fractionation Companies: Blood Transfusion Diagnostics Market, Revenue and Forecast to 2028 (US$ Million)

10. Blood Transfusion Diagnostics Market Revenue and Forecasts to 2028 - Geographical Analysis

11. Impact of COVID-19 Pandemic on Blood Transfusion Diagnostics Market
11.1 North America: Impact Assessment of COVID-19 Pandemic
11.2 Europe: Impact Assessment of COVID-19 Pandemic
11.3 Asia-Pacific: Impact Assessment of COVID-19 Pandemic
11.4 South and Central America: Impact Assessment of COVID-19 Pandemic
11.5 Middle East and Africa: Impact Assessment of COVID-19 Pandemic

12. Blood Transfusion Diagnostics Market-Industry Landscape
12.1 Overview
12.2 Growth Strategies in the Blood Transfusion Diagnostics Market
12.3 Inorganic Growth Strategies
12.3.1 Overview
12.4 Organic Growth Strategies
12.4.1 Overview

13. Company Profiles
13.1 Grifols, S.A.
13.1.1 Key Facts
13.1.2 Business Description
13.1.3 Products and Services
13.1.4 Financial Overview
13.1.5 SWOT Analysis
13.1.6 Key Developments
13.2 F. Hoffmann-La Roche Ltd
13.2.1 Key Facts
13.2.2 Business Description
13.2.3 Products and Services
13.2.4 Financial Overview
13.2.5 SWOT Analysis
13.2.6 Key Developments
13.3 Immucor, Inc.
13.3.1 Key Facts
13.3.2 Business Description
13.3.3 Products and Services
13.3.4 Financial Overview
13.3.5 SWOT Analysis
13.3.6 Key Developments
13.4 Bio-Rad Laboratories, Inc.
13.4.1 Key Facts
13.4.2 Business Description
13.4.3 Products and Services
13.4.4 Financial Overview
13.4.5 SWOT Analysis
13.4.6 Key Developments
13.5 Abbott
13.5.1 Key Facts
13.5.2 Business Description
13.5.3 Products and Services
13.5.4 Financial Overview
13.5.5 SWOT Analysis
13.5.6 Key Developments
13.6 Thermo Fisher Scientific Inc.
13.6.1 Key Facts
13.6.2 Business Description
13.6.3 Products and Services
13.6.4 Financial Overview
13.6.5 SWOT Analysis
13.6.6 Key Developments
13.7 Ortho Clinical Diagnostics (QuidelOrtho Corporation)
13.7.1 Key Facts
13.7.2 Business Description
13.7.3 Products and Services
13.7.4 Financial Overview
13.7.5 SWOT Analysis
13.7.6 Key Developments
13.8 DiaSorin S.p.A.
13.8.1 Key Facts
13.8.2 Business Description
13.8.3 Products and Services
13.8.4 Financial Overview
13.8.5 SWOT Analysis
13.8.6 Key Developments
13.9 Quotient Limited
13.9.1 Key Facts
13.9.2 Business Description
13.9.3 Products and Services
13.9.4 Financial Overview
13.9.5 SWOT Analysis
13.9.6 Key Developments
13.10 BAG Diagnostics GmbH
13.10.1 Key Facts
13.10.2 Business Description
13.10.3 Products and Services
13.10.4 Financial Overview
13.10.5 SWOT Analysis
13.10.6 Key Developments

14. Appendix

For more information about this report visit https://www.researchandmarkets.com/r/z5qunx

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