Blood Screening Market Forecasts to 2028 – Global Analysis By Product & Services (Software and Services, Instruments), Technology (Western Blot Assay, Rapid Tests, Next-generation Sequencing (NGS)), Application (Diabetes Blood Testing, Cardiovascular Dise

Blood Screening Market Forecasts to 2028 – Global Analysis By Product & Services (Software and Services, Instruments), Technology (Western Blot Assay, Rapid Tests, Next-generation Sequencing (NGS)), Application (Diabetes Blood Testing, Cardiovascular Disease Blood Testing) and By Geography

According to Stratistics MRC, the Global Blood Screening Market is accounted for $2.59 billion in 2021 and is expected to reach $5.18 billion by 2028 growing at a CAGR of 10.4% during the forecast period. Blood Screening tests are the foundation of a successful healthcare system, providing critical information those healthcare providers and patients need to make the right medical decisions. Blood screening often provides objective, quantitative measurements that inform every stage of care—prevention, detection, diagnosis, treatment, and successful management of health conditions.

Market Dynamics:

Driver:

Growing number of blood donations

The increasing consciousness concerning blood safety from infectious diseases through several programs is leading to high demand for blood screening tests worldwide. Increasing cases of accidents and the prevalence of chronic diseases like cancer are creating a huge demand for blood for the treatment of the patient population. It was also validated by numerous studies that a single victim of a car accident can require up to 100 units of blood and also while receiving a chemotherapy treatment some the cancer patients require blood transfusion. Hence, a large patient pool of cancer coupled with an increase in accidental cases are generating a high demand for blood for their treatment and subsequently increasing the acceptance of blood screening tests during the forecast period.

Restraint:

High Cost

One of the major factors restraining the market growth is the lack of expenditure on healthcare infrastructure in developing countries for blood screening procedures. The high cost related to the test instruments and stringent regulatory policies is some of the factors expected to restraint the growth of the market.

Opportunity:

Introduction of Automated Molecular Platforms

Growing automation is predictable to eliminate human error during the transfusion screening process. Mostly, these screening tests influence a majority of medical decisions made in blood banks and hospitals. The introduction of such automated molecular platforms by key players has subsequently resulted in its increasing adoption in blood donation centers. This is predictable to create ample opportunity for market growth.

Threat:

Substitute technologies

Digital immunoassays are a one-step solution for single-molecule detection without requiring washing steps based on ELISA using an array of femtoliter-sized wells. This tests have seen significant interest owing to the urgent and ever-increasing demand for serological COVID-19 antibody tests that are inexpensive, rapid, simple, highly sensitive, quantitative, and minimally invasive. Therefore, a single-step, wash-free immunoassay for rapid and highly sensitive quantitative analysis of human serological IgG against SARS-CoV-2 has been developed, which requires only a single droplet of serum.

Blood banks segment is expected to be the largest during the forecast period

The blood banks segment commanded the largest share of the market. Laboratory screening of donated blood and blood products for infectious diseases is a key safety measure to protect patients and prevent the spread of serious infectious diseases. Factors such as rising blood donations and transfusion-related screenings, increasing awareness about transfusion-transmitted infections, and the rising occurrence of infectious diseases are driving the growth of this segment.

The reagents & kits segment is expected to have the highest CAGR during the forecast period

The reagents & kits segment is expected to have the highest CAGR, as reagents being a recurrent expense are widely used for immunoassays and molecular tests. Reasons such as rising blood donations and transfusion-related screenings, the increasing prevalence of infectious diseases and there has been an increase in serological testing, which has contributed to the growth of this segment.

Region with highest share:

The Asia Pacific is projected to hold the highest market share, owing to access to optimal treatment facilities and increasing government initiatives, advanced technology, better adoption rate, and rising healthcare expenditure. Countries in the Asia pacific provinces, such as China and India, are the hotspots for investment opportunities owing to treatment and research activities, a growing number of partnerships and healthcare modernization, growing rate of diagnosis, and quality improvisations are some of the factors motivating the market growth in the Asia Pacific region.

Region with highest CAGR:

North America is projected to have the highest CAGR, North America’s largest share is primarily accredited to the growing blood transfusion-related screenings, growing prevalence of infectious diseases, rising geriatric population, need for early disease diagnosis and monitoring, increasing healthcare expenditure, and the growing adoption of advanced blood screening technologies in the province.

Key players in the market:

Some of the key players profiled in the Blood Screening Market include Abbott Laboratories, Alere Inc., Apex Biotechnology Corp, Beckman Coulter (A Subsidiary of Danaher Corporation), Becton, Dickinson and Company, Biomérieux, Bio-Rad Laboratories, Inc, F. Hoffmann-La Roche, Grifols, Hemosense Inc, Luminex Corp, Nova Biomedical Corp, Ortho Clinical Diagnostics, Inc, Roche Diagnostics, Siemens Healthineers (A Subsidiary of Siemens AG), Thermo Fisher Scientific, Inc, Trinity Biotech.

Key developments:

In October 2020: Siemens Healthineers announced shipping worldwide its laboratory-based total antibody test1 to detect the presence of SARS-CoV-2 IgM and IgG antibodies in the blood. The complete antibody test permits the identification of patients who have developed an adaptive immune response.

In February 2020: BD (US) acquired NAT Diagnostics (US), this acquisition strengthened an early-stage company developing a molecular diagnostic platform for POC testing.

In September 2021: Roche Diagnostics (Switzerland) acquired TIB Molbiol Group (Germany). This acquisition will enhance Roche’s broad portfolio of molecular diagnostics solutions with a wide range of assays for infectious diseases, such as identifying SARS-CoV-2 variants.

Product & Services Covered:
• Software and Services
• Instruments
• Reagents & Kits

Technology’s Covered:
• Western Blot Assay
• Rapid Tests
• Next-generation Sequencing (NGS)
• Enzyme-Linked Immunosorbent Assay (ELISA)
• Nucleic Acid Test (NAT)

Applications Covered:
• Diabetes Blood Testing
• Cardiovascular Disease Blood Testing
• Cancer Blood Testing
• Blood Disorder Blood Testing
• Autoimmune Disease And Food Allergy Testing
• Pregnancy Blood Testing
• Liver Disorder Blood Testing
• Kidney Disorder Blood Testing
• Home-Monitoring Blood Testing
• Fertility Blood Testing

End Users Covered:
• Blood Banks
• Hospitals

Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025 and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
Comprehensive profiling of additional market players (up to 3)
SWOT Analysis of key players (up to 3)
• Regional Segmentation
Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances