Blood Screening Market by Product & Service (Instruments, Outright Purchase, Reagents & Kits), Technology (ELISA, NAT, NGS), End-User - Global Forecast 2024-2030
The Blood Screening Market size was estimated at USD 4.90 billion in 2023 and expected to reach USD 5.31 billion in 2024, at a CAGR 8.74% to reach USD 8.82 billion by 2030.
Blood screening is a crucial aspect of healthcare that involves analyzing and testing blood samples to detect potential health issues, infections, or disorders. It serves as a vital diagnostic and monitoring tool, ensuring the safety of blood transfusions organ transplants, and tracking the prevalence of various diseases in a population. The increasing number of blood donations/transfusions worldwide, the rising prevalence of infectious disorders, and technological advancements in molecular diagnostics increase the need for blood screening. However, high upfront costs associated with implementing new technologies and a lack of awareness about available tools in underdeveloped regions significantly impede the adoption of blood screening. Additionally, manufacturers focusing on next-generation sequencing (NGS), CRISPR gene-editing techniques, and artificial intelligence (AI) diagnostics applications offer promising avenues for improving testing accuracy, speed, and cost-efficiency. Manufacturers identify novel biomarkers for various diseases and enhance early detection capabilities, leading to better patient outcomes and increased demand for advanced blood screening tests.
Regional InsightsIn the Americas, the demand for blood screening tests is increasing due to their advanced healthcare systems, high-quality research institutions, and funding for innovation. The U.S. Food and Drug Administration (FDA) significantly approves new blood screening technologies to ensure safety and efficacy. In Asia Pacific, rapid economic growth, expanding healthcare infrastructure, and a large patient population are prone to infectious diseases due to high population density. China has recently implemented stringent blood safety regulations following past transfusion-related scandals, leading to increased demand for advanced screening technologies. The European Union (EU) countries have a highly developed healthcare system with strict blood transfusion services regulations. Investments in R&D activities focused on novel diagnostic technologies contribute to Europe's robust blood screening industry. The Middle East & Africa region showcases a diverse landscape with varying levels of healthcare infrastructure development. Many African countries face challenges relating to inadequate infrastructure and resources for ensuring safe transfusions, posing health risks to recipients.
Market InsightsMarket Dynamics
The market dynamics represent an ever-changing landscape of the Blood Screening Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.
Market Drivers
- Increasing demand for donated blood and rising number of blood donations
- Rising prevalence of infectious diseases and the emergence of newer pathogens
- Increase in affordability and adoption of nucleic acid test for blood screening
Market Restraints
- High price for blood screening diagnostics
Market Opportunities
- Technological Advancements in blood screening devices
- Improved POC diagnostics for blood screening
Market Challenges
- Lack of legislation, regulations, and policies on blood screening
Market Segmentation Analysis
- Product: Rising adoption of instruments and consumables for conducting accurate tests
- Technology: Development of enzyme-linked immunosorbent assay and mass spectrometry technology
- Application: Significant applications of infectious disease and cancer screening to prevent the spread of infections
- End-User: Increasing use of blood screening in hospitals and laboratories
Market Disruption Analysis
- Porter’s Five Forces Analysis
- Value Chain & Critical Path Analysis
- Pricing Analysis
- Technology Analysis
- Patent Analysis
- Trade Analysis
- Regulatory Framework Analysis
FPNV Positioning MatrixThe FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Blood Screening Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).
Market Share AnalysisThe market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Blood Screening Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.
Recent DevelopmentsHarbinger Health Raises $140M to Study Blood-Based Cancer Screening TestHarbinger Health Inc. has secured USD 140 million in funding to support the clinical validation of their upcoming blood-based cancer screening test. The test aims to detect common epigenetic changes that indicate the onset of tumor development, effectively addressing the challenges associated with evolving tumors. The funding from the series B round is expected to be utilized to conduct a comprehensive study involving 10,000 subjects, expand the commercial team, and initiate additional trials targeting high-risk populations. This investment further enables Harbinger Health to advance its groundbreaking screening technology, bringing it closer to its anticipated launch in 2025.
Oxford Biodynamics Announces US Launch of its 94% Accurate EpiSwitch Prostate Screening Blood Test to Men With Prostate Cancer RiskIn its US clinical laboratory, Oxford BioDynamics PLC, a biotechnology company, has successfully launched its EpiSwitch Prostate Screening blood test to detect prostate cancer. This test boasts an impressive accuracy rate of 94%, allowing it to reliably predict the presence or absence of prostate cancer. As a result of this groundbreaking development, the test is now accessible to men undergoing prostate cancer screening in the United States. With its high level of accuracy and availability, this blood test represents a significant advancement in the field of prostate cancer detection.
Walgreens and Freenome to Advance Blood-Based Test Trials For CancerWalgreens has partnered with Freenome Holdings, Inc. to advance clinical trials focused on blood-based tests for early cancer detection. In collaboration with technology provider Curebase, Walgreens will initially enroll patients from diverse populations into Freenome's Sanderson Study. The primary objective of this study is to evaluate the efficacy of blood-based early-detection tests for multiple types of cancer and further aims to drive advancements in cancer detection and improve patient outcomes.
Strategy Analysis & RecommendationThe strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Blood Screening Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.
Key Company ProfilesThe report delves into recent significant developments in the Blood Screening Market, highlighting leading vendors and their innovative profiles. These include Abbott Laboratories, Alfa Scientific Designs, Inc., Becton, Dickinson And Company, Bio-Rad Laboratories, Inc., Bio-Techne Corporation, bioMérieux SA, Danaher Corporation, DiaSorin S.p.A., Environmental & Scientific Instruments Co., F. Hoffmann-La Roche AG, GE HealthCare Technologies, Inc., GFE, Grifols, S.A., Immucor, Inc., Laboratory Corporation of America Holdings, Lifeloc Technologies, Inc, Omega Laboratories, Inc., OraSure Technologies, Inc., Ortho Clinical Diagnostics, Inc., PerkinElmer, Inc., PixCell Medical Technologies Ltd., Premier Biotech, Inc., Siemens Healthineers AG, Thermo Fisher Scientific Inc., and Trinity Biotech Plc.
Market Segmentation & CoverageThis research report categorizes the Blood Screening Market to forecast the revenues and analyze trends in each of the following sub-markets:
- Product & Service
- Instruments
- Outright Purchase
- Reagents & Kits
- ELISA Reagents & Kits
- Conjugates
- Controls
- Immunosorbents
- Sample Diluents & Wash Solutions
- Substrates
- NAT Reagents & Kits
- Buffers, Nucleotides, & Solutions
- Enzymes & Polymerases
- Labeling & Detection Reagents
- Probes & Primers
- Standards & Controls
TechnologyELISAChemiluminescent ImmunoassayColorimetric ImmunoassayFluorescent immunoassayNATReal-Time Polymerase Chain ReactionTranscription-Mediated AmplificationNGSRapid TestsWestern Blot AssaysEnd-UserBlood BanksHospitalsRegion
- Americas
- Argentina
- Brazil
- Canada
- Mexico
- United States
- California
- Florida
- Illinois
- New York
- Ohio
- Pennsylvania
- Texas
- Asia-Pacific
- Australia
- China
- India
- Indonesia
- Japan
- Malaysia
- Philippines
- Singapore
- South Korea
- Taiwan
- Thailand
- Vietnam
- Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom
Please Note: PDF & Excel + Online Access - 1 Year