Blood Transfusion Diagnostics Market size is anticipated to reach USD 9 billion by the end of 2033, growing at a CAGR of 4% during the forecast period, i.e., 2023-2033. In the year 2022, the industry size of blood transfusion diagnostics was over USD 4 billion. The market growth is primarily driven by a growing number of people with kidney malfunction. Kidney failure, commonly known as chronic kidney disease (CKD), is a disorder in which the kidneys are unable to adequately eliminate waste and excess fluids from the blood. This can result in a variety of problems, including anemia, which is frequent in CKD patients. Regular blood transfusions are frequently required for CKD patients to manage anemia, as well as other problems like hemorrhage, coagulation, and infection. Around 850 million people are suffering from some kind of kidney problem. Additionally, around 121,000 people in the United States need kidney transplantation.
Higher instances of injury and deaths caused by road accidents are to propel the growth of the global blood transfusion market. Road traffic accidents are a serious public health issue and a leading source of fatalities and injuries worldwide. These incidents frequently lead to serious injuries that need urgent medical attention and blood transfusions. The rising frequency of traffic accidents and related injuries is expected to boost the demand for blood. Approximately, 3,700 people die globally every day in vehicle crashes or being hit by a vehicle. Furthermore, the increased pressure of chronic disease in the world and the urgent requirement for blood donation due to the shortage of blood donations during the pandemic are the few factors expected to propel the market growth.
Growth Drivers
Challenges
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Base Year |
2022 |
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Forecast Year |
2023-2033 |
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CAGR |
~4% |
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Base Year Market Size (2022) |
~USD 4 Billion |
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Forecast Year Market Size (2033) |
~USD 9 Billion |
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Regional Scope |
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Application (Blood Group Typing, Blood Screening)
The blood transfusion diagnostics market is segmented and analyzed for demand and supply by application into blood group typing and blood screening. Out of the two, the blood screening segment is anticipated to hold the largest market size by the end of 2033. Rising blood donations and transfusions are likely to boost the growth of the segment. By the statistics of the WHO, about 119 million of blood is donated every year all around the world. In addition, the growing penetration of sexually transmitted diseases, hepatitis B, and HIV are driving the segment’s growth. According to the Centers for Disease Control and Prevention, around 296 million people are living with hepatitis B worldwide. Moreover, as per the World Health Organization, the prevalence of STDs has impacted more than 1 million people all over the world.
End-user (Hospital Based Laboratories, Blood Banks)
The global blood transfusion diagnostics market is also segmented and analyzed for demand and supply by end-user in hospital-based laboratories and blood banks. Out of these segments, hospital-based laboratories are projected to secure a higher market share by 2033. This can be owed to the fact that hospital-based laboratories are better equipped to conduct the complicated and crucial screening procedures necessary for blood transfusions since they are furnished with cutting-edge machinery and technology and operated by qualified personnel. Additionally, these labs are in a good position to provide patients with a variety of diagnostic services such as blood typing. Also, hospitals are expanding their diagnostic capabilities to satisfy the rising need for blood products as the demand for blood transfusions rises. For instance, it was found that there were about 6100 hospitals in the U.S. in 2022.
Our in-depth analysis of the global market includes the following segments:
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By Product Type |
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By Application |
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By End-User |
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APAC Market Statistics
The Asia Pacific blood transfusion diagnostics market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2033. It is driven by aspects such as the rising need for blood transfusions, the developing healthcare infrastructure in the area, and the rising public awareness of the value of blood donation and testing. A considerable portion of the Asia Pacific blood transfusion diagnostics market is anticipated to increase in countries like China and India owing to their big populations and quickly growing healthcare infrastructure. Other countries in the area are also anticipated to develop as well due to factors such as the rise in hospital-based diagnostic labs and the desire for quick and precise blood tests.
North American Market Forecast
The North American blood transfusion diagnostics market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2033. A higher number of road accidents taking place in the region is driving the market growth in North America. As of 2022, more than 6 million vehicle crashes took place in the United States. The growth is also attributed to the lack of blood during COVID-19, which in turn is propelling the requirement for blood donation. Since March 2020, the rate of blood donation dropped by about 10% and there has been about a 62% decrease in blood drives across colleges and schools.
Danaher Corporation announced the acquisition of Aldervon. Aldervon was the only operating company within Danaher’s Life Sciences segment.
Grifols S.A. announced the acquisition of Biotest to boost the development and innovation of its product portfolio, increasing the availability of plasma therapy for patients.
Author Credits: Radhika Gupta, Shivam Bhutani
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