|
Base Year |
2022 |
|
Forecast Year |
2023-2035 |
|
CAGR |
~6% |
|
Base Year Market Size (2022) |
~ USD 2.65 Billion |
|
Forecast Year Market Size (2035) |
~ USD 5.03 Billion |
|
Regional Scope |
|
|
Base Year |
2022 |
|
Forecast Year |
2023-2035 |
|
CAGR |
~6% |
|
Base Year Market Size (2022) |
~ USD 2.65 Billion |
|
Forecast Year Market Size (2035) |
~ USD 5.03 Billion |
|
Regional Scope |
|
Growth Drivers
Challenges
Technology (Nucleic Acid Testing, Rapid Tests, Western Blot Assay, ELISA, Next-Generation Sequencing)
The ELISA segment in the blood screening market is anticipated to hold the largest gain 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 need for testing for COVID-19, and carrying out sexually transmitted diseases testing 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.
End Users (Hospitals, Clinical Laboratories)
Blood screening market from the hospital segment is attributed to holding the largest share of 55 % 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 are other factors to drive the segment growth.
Our in-depth analysis of the global market includes the following segments:
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Technology |
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Product Type |
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End User |
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North American Market Forecast
The blood screening market in North America is projected to be the largest with a share of about 38% by the end of 2035. 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. Further, the presence of a strong healthcare network in the region, along with the availability of supportive policies by regulatory bodies, is anticipated to contribute positively to the market's growth.
APAC Market Statistics
The Asia Pacific market is estimated to be the second largest, registering a share of about 25% by the end of 2035. The major factor that is attributed to creating a positive outlook for the market growth is 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.
Author Credits: Radhika Gupta, Shivam Bhutani
Ans: Rising number of people suffering with chronic diseases, higher blood transfusions and increased cases of infectious diseases are the major factors driving the market growth.
Ans: The market size of blood screening is anticipated to attain a CAGR of 6% over the forecast period, i.e., 2023 – 2035.
Ans: The major players in the market are Grifols, S.A., Quotient Limited, Thermo Fisher Scientific Inc., BD, Ortho Clinical Diagnostics, DiaSorin S.p.A., Bio-Rad Laboratories, Inc., Danaher Corporation, Beckman Coulter, Inc., and Abbott Laboratories
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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