Analysis by Technology (Nucleic Acid Testing, Rapid Tests, Western Blot Assay, ELISA, and Next Generation Sequencing); by Product Type (Reagents & Kits, and Instruments); and by End User (Hospitals, Clinical Laboratories, and Others) – Global Supply & Demand Analysis & Opportunity Outlook 2023-2035
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The global blood screening market is estimated to garner a revenue of ~ USD 5,030 million by the end of 2035 by growing at a CAGR of ~6% over the forecast period, i.e., 2023 – 2035. Further, the market generated a revenue of ~ USD 2,650 million in the year 2022. Market growth is primarily driven by the increased prevalence of chronic diseases such as diabetes, heart problems, chronic kidney failure, and others. Chronic diseases often cause long-term symptoms requiring constant medication, and often cannot be fully healed. Thus, to diagnose underlying chronic illnesses in the human body and proceed with timely treatment, blood screening has a huge role to play, and it is anticipated to boost the market’s growth. According to the World Health Organization, globally, around 18 million people succumb to death from cardiovascular problems. Moreover, according to the Centers for Disease Control and Prevention, in recent times, nearly 415 million people had diabetes worldwide, and by 2040, over half a billion of the world’s population is likely to develop diabetes.
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Complications occurring in pregnancies and related preventive screening often require blood screening procedures, further bolstering the market growth. They are required to plan the best course of treatment in a variety of situations. According to the World Health Organization, every day, over 810 women die of pregnancy and childbirth-related problems. Furthermore, the surge in the count of COVID-19 patients and other infectious diseases is expected to propel the growth of the global blood screening market.
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Base Year |
2022 |
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Forecast Year |
2023-2035 |
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CAGR |
~6% |
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Base Year Market Size (2022) |
~ USD 2,650 Million |
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Forecast Year Market Size (2035) |
~ USD 5,030 Million |
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Regional Scope |
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Growth Drivers
Higher Need and Contributions to Blood Donation- As healthcare systems improve and the availability and need for complex surgical operations such as cardiology and transplant surgery, trauma treatment, and therapy for cancer and blood illnesses increase, so does the demand for donated blood. Therefore, it is anticipated to increase the growth of the global blood screening market. According to the World Health Organization, every year, approximately 119 million units of blood are collected worldwide.
Rising Number of Pregnancies Happening Around the World - Among the women of the United Kingdom, the rate of conception increased from nearly 24% in 2018 to around 25% in 2019. Furthermore, every year approximately 27 million pregnancies occur in India.
Increased Prevalence of HIV and Hepatitis- By the statistics of the Centers for Disease Control and Prevention, around 296 million people worldwide are living with Hepatitis B. In addition, globally around 38 million people have HIV.
Alarming Penetration of COVID-19- Despite vaccination and other strong initiatives, COVID is still prevalent in some places worldwide. Blood screening techniques play an important role in COVID-19 diagnostics. Thus, the increasing number of cases of COVID-19 is anticipated to increase the demand for blood screening procedures. According to the statistics of the World Health Organization, as of September 2022, there were around 610 million confirmed cases of COVID-19.
Increasing Burden of Chronic Diseases- Chronic diseases are one of the world’s leading causes of death, with many times death being preventable through proper conduction of blood screening. By the report of the National Library of Medicine, every 3 in 5 deaths in the world takes place owing to chronic diseases including, cardiovascular diseases, diabetes, lung problems, and others.
Challenges
The global blood screening market is segmented and analyzed for demand and supply by technology into nucleic acid testing, rapid tests, western blot assay, ELISA, and next-generation sequencing. Out of all, the ELISA segment is anticipated to hold the largest market size by the end of 2035. ELISA is a typical laboratory test, done to find antibodies in the blood. They are produced when the immune system of the body recognizes dangerous compounds, known as antigens. The segment growth is primarily attributed to the rising cases of COVID -19, HIV, and various sexually transmitted diseases (STDs) among the population around the world. As per the World Health Organization, globally, more than 1 million people have STDs. Moreover, as of July 2022, there were nearly 40 million HIV cases all over the world.
Apart from the ELISA segment, the nucleic acid testing segment is also anticipated to garner a significant share. The segment growth can be attributed to the high advantages offered by nucleic acid testing, which include high sensitivity and accuracy along with the presence of increased specificity for early detection of disease. Nowadays, nucleic acid testing is being opted for by numerous medical spheres, such as blood banks, hospitals, and clinical laboratories, which are anticipated to generate high demand in the next few years. Moreover, the high adoption rate of nucleic acid testing in emerging economies and developing markets is projected to offer lucrative opportunities for the growth of this segment.
The global blood screening market is also segmented and analyzed for demand and supply by end-users in hospitals, clinical laboratories, and others. Out of these, the hospital segment is attributed to hold the largest share over the forecast period. As a large patient pool is being admitted to hospitals, owing to which the popularity of hospitals is being increased daily, it is anticipated to bring lucrative growth opportunities for the segment growth. Further, the growing cases of organ transplant surgeries in hospitals and the presence of blood donation facilities are other factors to drive the segment growth.
Our in-depth analysis of the global blood screening market includes the following segments:
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By Technology |
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By Product Type |
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By End User |
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The North America blood screening market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2035. The growth of the market can be attributed majorly to the increasing frequency of pregnancy and childbirth which requires high-definition blood screening. In 2021, over 3 million childbirths took place in the United States. Moreover, the higher demand for blood transfusion is forecasted to elevate the market growth in North America during the assessment period. Every year, around 21 million blood components are transfused in the United States. Additionally, the prevalence of the rising American geriatric population is also expected to fuel market growth in the region as they are more prone to both acute and chronic diseases, along with other illnesses which generate an urgent need for early disease diagnosis and monitoring. Further, the presence of a strong healthcare network in the region, along with the availability of supportive policies by the regulatory bodies, is anticipated to contribute positively to the market’s growth. In addition, the region's expanding healthcare industry, owing to the growing prevalence of infectious diseases, and the presence of a large patient pool, is projected to create a positive outlook for the market.
On the other hand, the market in the Asia Pacific region is also attributed to garner a significant share by the end of the forecast period. Major factors that are attributed to creating a positive outlook for the market growth are the high rate of chronic diseases among the population, and the increasing spending capacity of opting for advanced medical facilities such as blood transfusion diagnostics along with the presence of a high number of medical facilities are also anticipated to hike the market growth further during the projected time frame in the region.
Abbott Laboratories
In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.
Ans: Rising number of people suffering with chronic diseases, higher blood transfusions and donation and increased cases of COVID-19, HIV, Hepatitis and other infectious diseases are the few factors which are likely to propel the market growth.
Ans: The market is anticipated to attain a CAGR of ~6% over the forecast period, i.e., 2023 – 2035.
Ans: Lack of skilled worker, inadequate blood screening infrastructure and alternate solutions are estimated to be the growth hindering factors for the market expansion.
Ans: The market in the North America region is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.
Ans: The major players in the market are Abbott, Grifols, S.A., Quotient Limited, Thermo Fisher Scientific Inc., BD (Becton, Dickinson and Company), Ortho Clinical Diagnostics, DiaSorin S.p.A., Bio-Rad Laboratories, Inc., Danaher Corporation, Beckman Coulter, Inc., and so on…..
Ans: The company profiles are selected based on the revenues generated from the product segment, the geographical presence of the company which determines the revenue generating capacity as well as the new products being launched into the market by the company.
Ans: The market is segmented by technology, product type, end user, and by region.
Ans: The ELISA segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.
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