Blood Screening Market Share Projected to Reach USD 5.07 Billion by 2030

The Blood Screening Market Share is expected to grow at a compound annual growth rate (CAGR) of 8.2% over the forecast period with an estimated value of around USD 5.07 billion by 2030. Such growth is driven by increasing prevalence of infectious diseases, growing consciousness about healthcare and increased blood donations.

Factors Driving as well as Creating the Market Growth

The rising prevalence of infectious diseases have increased the need for effective blood screening techniques to prevent settlements from blood transfusions. With the help of innovations in nucleic acid amplification tests (NAT), blood screening has improved in sensitivity and specificity, paving the way for accurate and fast detection of the pathogens. Moreover, rising awareness about healthcare and safe blood donation has increased participation in blood donation drive, which, in turn, is expected to expand the market of blood screening.

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Segmentation Analysis

Blood Screening Market by Technology, Product and Service, End-users—

by Technology: The market comprises of nucleic acid tests (NAT) and enzyme-linked immunosorbent assays (ELISA). The NAT Segment Expected to Grow at the Fastest Rate During the Forecast PeriodNAT is likely to drive the growth of the market owing to its high sensitivity and specificity for the detection of viral nucleic acids.

by Product and Service: This segment includes reagents and kits, enzymes, and polymerases. With the increasing rate of blood donation coupled with an efficient screening process, the reagents and kits segment is anticipated to lead the market during the forecast period.

by End-User: Major end-users comprise hospitals, diagnostic laboratories, blood banks, and plasma fractionation companies. There is expected to be held a significant share of the market by hospitals, as hospitals play a crucial role in providing patient care and blood transfusion services.

Country-Level Analysis

United States: The country has the highest usage of nucleic acid tests (NAT) along with an extensive structure for blood donation and screening which will further boost the growth of this market.

Germany: A key driver for Germany's advanced blood screening technologies is the perception of safe blood transfusions in its healthcare system.

China: With a large population and heightened attention to its healthcare sector, there is a burgeoning need for effective blood screening methods in China.

India : The growing healthcare sector in India paired with increasing awareness regarding safe blood transfusion is driving the blood screening service market in India.

Japan: The use of sophisticated blood screening techniques offers a promising market for advanced medical technology infrastructure to drive adoption in Japan.

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Competitor Analysis

The blood screening market has a number of global and local participants who are focusing to expand their product portfolio, improve technology capabilities, and enter into strategic alliance. This is due to mergers and acquisitions, which are a top key method for consolidating market share in the industry, resulting in market leaders acquiring smaller business to build on their geographic footprint and diversify their product portfolios.

Some of the key players of blood screening market are:

Abbott Laboratories — Global healthcare company, volume research and development specializing in.

Thermo Fisher Scientific: A leading manufacturer of scientific instruments, reagents and laboratory supplies, and offers blood screening products.

Roche Diagnostics: Specializes in diagnostic machinery and reagents used for testing, including blood screening.

Commercially available blood screening solutions Bio-Rad Laboratories: Modular range of diagnostic products and services, including blood screening solutions.

Grifols: The Bilateral License system that collects blood plasma products and diagnostic systems.

With increasing demand for safe blood donations and stringent regulatory standards, these companies are investing briskly in research and development to improve the precision, speed, and efficiency of blood screening processes.

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Conclusion

Blood Screening Market OverviewBlood screening market is evolving market with significant increase in the growth of the population with infectious diseases, advance in healthcare awareness and modernization in the screening technologies. Despite the higher prevalence of blood transfusion-triggered infections in developing countries, their share in the global blood transfusion market remains undiscovered, offering key opportunities for innovation and growth. Leading players are likely to maintain their emphasis on technological advancements and strategic partnerships in order to address the changing demands of the healthcare sector.

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