Blood Transfusion Diagnostics Market Size

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.