Blood Screening Market by Product (Reagent & Kits, Instrument, Software), Technology (NAT, (Real-Time PCR), ELISA (Chemiluminescence Immunoassay), Rapid Test, Western Blot), End User (Blood Bank, Hospital), & Region - Global Forecast to 2028

Blood Screening Market by Product (Reagent & Kits, Instrument, Software), Technology (NAT, (Real-Time PCR), ELISA (Chemiluminescence Immunoassay), Rapid Test, Western Blot), End User (Blood Bank, Hospital), & Region - Global Forecast to 2028

The global blood screening market is projected to reach USD 3.4 billion by 2028 from USD 2.4 billion in 2023, at a CAGR of 7.2% during the forecast period. Growth in this market is mainly driven by the growing requirement for donated blood, the rising number of blood donations around the world, and the ever-increasing infectious diseases. However high prices of Blood screening instruments and kits along with scarcity in technicians is likely to hamper the growth of Blood screening market.

""The reagents & kits segment accounted for the highest growth rate in the blood screening market, by product & service, during the forecast period.""

The blood screening market is segmented into reagents & kits, instruments, and software & services based on product. In 2022, the reagents & kits segment accounted for the highest growth rate in the blood screening market. Market growth can largely be attributed to rising number of blood transfusions and blood donations. In addition, technological advancements in blood screening technologies and the increasing number of surgeries are stimulating the growth of this segment.

""Blood banks segment accounted for the highest CAGR.""

Based on end users, the blood screening market is segmented into blood banks and hospitals. In 2022, the blood banks segment accounted for the highest growth rate. This can be attributed to the growing number of organ transplantation surgeries, and rising awareness about blood safety.

""Asia Pacific: The fastest-growing region blood screening market.""

The global blood screening market is divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa. The highest CAGR is anticipated to be recorded over the forecast period in the Asia Pacific region. The rising per capita income, the expansion of private hospitals into rural areas in various APAC countries, the rising geriatric population in several APAC countries (coupled with the rising prevalence of chronic disorders), and the presence of high-growth markets in the region, among other factors, all contribute to rising healthcare spending. The favorable regulatory climate and low labor costs in this region are also anticipated to fuel market growth.

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Breakdown of supply-side primary interviews, by company type, designation, and region:

By Company Type: Tier 1 (40%), Tier 2 (30%), and Tier 3 (30%)

By Designation: C-level (27%), Director-level (18%), and Others (55%)

By Region: North America (51%), Europe (21%), Asia- Pacific (18%), Latin America (6%), and Middle East & Africa(4%)

Prominent companies include F. Hoffmann-La Roche Ltd. (Switzerland), Grifols (Spain), Abbott Laboratories, Inc. (US), Bio-Rad Laboratories, Inc. (US), Danaher (Beckman Coulter, Inc.) (US), bioMérieux (France), Hologic (US), Thermo Fisher Scientific, Inc. (US), Becton, Dickinson and Company (US), DiaSorin (Italy), Siemens Healthineers (Germany), QuidelOrtho Corporation (US), Merck KGaA (Germany), Revvity (Earlier known as PerkinElmer Inc.) (US), Bio-Techne Corporation (US), GFE (Germany), Trinity Biotech (Ireland), Mindray (China), Maccura Biotechnology Co., Ltd. (China), Immucor, Inc. (US), Cellabs (Australia), Abnova Corporation (Taiwan), Enzo Biochem, Inc. (US), J. Mitra & Co. Pvt. Ltd. (India) and Tulip Diagnostics (India).

Research Coverage

This research report categorizes the Blood screening market by products & service, technology, end user, and region. The scope of the report covers detailed information regarding the major factors, such as drivers, restraints, challenges, and opportunities, influencing the growth of the Blood screening market. A detailed analysis of the key industry players has been done to provide insights into their business overview, solutions, and services; key strategies; Contracts, partnerships, agreements, new product & service launches, mergers and acquisitions, and recent developments associated with the Blood screening market. Competitive analysis of upcoming startups in the Blood screening market ecosystem is covered in this report.

Reasons to buy this report

The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall blood screening market and the subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and to plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.

The report provides insights on the following pointers:

Analysis of key drivers (Increasing number of blood donations, rising infectious diseases and growing technological advancements), restraints (Alternative Technologies), opportunities (Increasing Demand from Emerging Economies in APAC, Increasing collaboration between businesses, industry associations, and government awareness), and challenges (High cost of blood screening products) influencing the growth of the blood screening market.

Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the blood screening market

Market Development: Comprehensive information about lucrative markets – the report analyses the blood screening market across varied regions.

Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in the blood screening market

Competitive Assessment: In-depth assessment of market shares, growth strategies and service offerings of leading players like F. Hoffmann-La Roche Ltd. (Switzerland), Grifols (Spain), Abbott Laboratories, Inc. (US), Bio-Rad Laboratories, Inc. (US), Danaher (Beckman Coulter, Inc.) (US), bioMérieux (France), among others in blood screening market