Blood Group Typing Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Blood Group Typing Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The blood group typing market is expected to register a CAGR of 9.5% over the forecast period.

During the COVID-19 public health emergency, the demand for blood group typing has increased subsequently. Many individuals with weak immune systems have been infected by COVID-19 and hospitalized and may require a blood transfusion due to COVID-19. As a result, the demand for blood group typing has risen during COVID-19, following the pandemic. Many governments have also taken the initiative to help increase blood donation. For instance, in June 2020, the Maharashtra state government in India used social media initiatives to increase the number of blood donations. The move was taken following the shortage of blood in the region. Such programs have positively impacted the global blood group typing market growth in many regions during the pandemic.

An increasing number of road accidents, emergencies, and trauma cases requiring blood transfusions, and the need for grouping of the blood in pregnancy is driving the growth of the market. Growing demand for blood group typing in prenatal testing, rising usage of blood group typing in forensic sciences, and strict governing standards for blood transfusion is also boosting the global blood group typing market growth. Blood group typing is done to safely donate blood or receive a blood transfusion. It is also done to see if a person has a substance called Rh factor on the surface of red blood cells. There is a huge demand for blood typing products in the market owing to the rising road accidents and blood transfusions. For instance, In October 2021, according to Germany's Federal Statistics Office (Destatis) in 2020, 5,131 people were killed in road traffic accidents in Germany. In the case of road accidents, there is a huge loss of blood and hence those patients require an immediate blood transfusion. Thus, the above-mentioned factors are expected to boost the growth of the market over the forecast period.

Key Market TrendsBlood Banks are expected to Witness Healthy Growth Over the Forecast Period

The major factor propelling the growth of the market includes a steep rise in accidental cases, a high prevalence of hematologic diseases, and an increasing geriatric population. In February 2020, According to a study published by the World Health Organization, nearly 1.5 million people each year in the world die because of road traffic injuries. Road traffic injuries cost over 3% of the country's gross domestic product every year. Apart from road injuries, accidental cases are also surging in sports. In February 2020, According to the article published by Sarah Megginson, 89% of Australian adults participate in sports every year, with 62% participating at least three times a week. Hence, these cases of accidents will contribute to the increasing demand for the blood banks segment. In addition, in the past few years, the burden of blood-borne diseases has also increased, coupled with the increasing prevalence of transfusion transmissible infection and surgeries, growing awareness about blood donation, and several government initiatives associated with blood donation, which are promoting the demand for blood banks segment and driving the overall market as it generates the need for blood group typing kits for diagnosis and treatment purpose.

Inthe year 2021, As per the World Health Organization, the prevalence rate of anemia in children is 48.2% and 12.8% in men, which is expected to rise in the coming years over the world. Thus, this increasing burden of blooddisordersr may drive the demand for early diagnosis and treatment wherein the blood has been widely used, resulting in the growth of the market.

The Blood banks play a critical role by storing blood for future use. Also, blood banks carefully screen donated blood to keep blood safe. Blood transfusions sometimes cause transfusion reactions, therefore extensive precautions are taken before any blood transfusion in order to prevent infections from happening. After that, the blood type of the unit is checked many times, and the unit is carefully matched to ensure that it matches the blood type and Rh factor of the person who will receive it by both the nurse and blood bank lab technician. Thus, the market is expected to witness high growth. A number of tests are generally performed in blood bank before blood transfusion which includes screening for antibodies that may produce adverse effects if transfused, screening for possible infectious agents, ABO group and Rh type, screening for blood-group antibodies, and serologic tests. With the rising trend of blood donation out of social concern, the importance of blood group typing is also likely to grow.

North America is Expected to Hold Largest Market Share over the Forecast Period

An increase in the number of road accidents and the rising prevalence of chronic diseases are the major factors driving the growth of the market studied. In July 2022, According to the Association for Safe International Road Travel, The United States is one of the busiest countries in terms of road traffic with nearly 284 million vehicles in operation as of the third quarter of 2021. It was further reported that more than 228.7 million drivers were holding valid driving licenses as of 2020. This level of traffic is one of the reasons leading to more road accidents. In September 2020, there were some 12.15 million vehicles involved in crashes in the United States, with over half that volume being passenger cars. Thus, the increasing road fatalities and crashes are increasing the demand for blood group typing. This is expected to augment the demand for the blood group typing market over the forecast period.

Furthermore, there is an increasing demand for blood transfusion in the United States. In October 2021, As per the estimates of the American National Red Cross, approximately 36,000 units of red blood cells are needed every day, and nearly 25 million blood components are transfused each year in the United States. In all of the above cases there is a huge need of blood typing and rising in the number of such cases will boost the growth of the market.

Competitive Landscape

The market studied is fragmented owing to the presence of various market players. Some market players are Mesa Laboratories, Inc. (Agena Bioscience, Inc.), Danaher Corporation (Beckman Coulter), Bio-Rad Laboratories, Inc., DIAGAST, Grifols, S.A., AXO Science, Merck KGaA, Quotient, Ltd., and Thermo Fisher Scientific.

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