The global Blood Screening market size is expected to be worth around US$ 13.9 billion by 2030, according to a new report by Vision Research Reports.
The global Blood Screening market size was valued at US$ 2.6 billion in 2020 and is anticipated to grow at a CAGR of 20.2% during forecast period 2021 to 2030.
The growth of the market is attributed to the increase in screening of donor and continuous technological advancement by the market players. Demand for blood screening tests is increasing continuously due to increasing donation, rising awareness about transfusion-transmitted diseases, and technological developments in the industry. Furthermore, governments of various countries are in process to mandates testing all donated blood for several viruses.
Thorough screening is necessary for all donated blood to ensure that recipients receive the safest products. As of 2015, such testing consists of screening for red cell antibodies, and the infectious diseases agents: HIV-1, HIV-2, hepatitis virus, West Nile Virus (WNV), Human T-Lymphotropic Virus (HTLV) T. Cruzi, and T. pallidum (syphilis). The result of all these assays must be negative for blood donation.
Technological developments increase the sensitivity and efficiency of the tests. For instance, in 2016, the U.S. FDA approved the Procleix Zika virus assay from Hologic, Inc. and Grifols to screen donated blood. Furthermore, the U.S. FDA approved next-generation sequencing (NGS) technology in 2013. The technology is cheaper and faster than previous DNA analysis methods.
Reagent dominated in 2015 and is expected to maintain its dominance over the forecast period. Higher accuracy and specificity in detecting presence and type of various elements in a small sample would drive the market.
In addition, reagents are cost-effective for customers and give a high return on investment to the vendors. High cost and reusable nature of instruments restraint the growth of instrument segment in the blood screening market during the forecast period 2016 - 2024.
Instrument accounted for a significant share in the market due to introduction of devices in the market after their marketing approval. For instance, in October 2017, the FDA approved Roche’s Cobas Zika donor screening test for Zika virus. This will prevent the spread of Zika virus in the U.S. through blood donations.
Nucleic acid amplification test (NAT) is expected to grow at the fastest rate owing to its high sensitivity and specificity for viral nucleic acid. The test detects nucleic acid earlier than other screening methods and, thus, narrows the window period of HBV, HCV, and HIV infections.
NAT was introduced in developed countries initially in the 1990s and early 2000. About 33 countries in the world implemented NAT for HIV and around 27 countries for hepatitis B virus till 2014. The methods that fall under this segment are polymerase chain reaction, ligase chain reaction, and transcription-mediated amplification.
In October 2016, Roche received the U.S.FDA approval for their next generation cobas MPX donor screening test to prevent the spread of viruses through blood transfusion. Cobas MPX assay is a NAT for the detection of five viruses HIV-1 Group O, HIV-1 Group M, HIV-2, HBV, and HCV, from a single sample.
ELISA accounted the second largest share of the market. The growth of this technology is attributed to continuous development to increase its specificity, low cost as compared to NAT, and increasing prevalence of infectious diseases in the Asia Pacific region. There are various ELISA generations available in the market.
North America accounted for the largest revenue share. The presence of key industry players, increased adoption of blood screening process, stringent FDA regulations for transfusion, and greater patient affordability are responsible for maintaining its position during the forecast period.
Vela Diagnostics received CE mark for its real-time PC- based Sentosa SA ZIKV PCR Test. The blood screening test for Zikacan identifies Zika virus infection in a donor. Furthermore, Roche launched next-generation viral load assay in March 2015 for HBV in Europe. It is a COBAS HBV quantitative nucleic acid test for COBAS 6800/8800 Systems. Hence, launch and adoption of such new technologies in the region are likely to further boost the industry in Europe.
Asia Pacific is the fastest growing region due to increasing awareness among people about blood donation, rising patient affordability, and growing focus of key industry players on emerging countries in the region. China, Japan, India, Singapore, and Australia are major contributing countries in the Asia Pacific region.
Becton Dickinson and Company, Thermo Fisher Scientific., Ortho-Clinical Diagnostics, Inc., Grifols, Danaher Corporation (Beckman Coulter), Abbott Laboratories; Bio-Rad Laboratories, Inc., F. Hoffmann-La Roche Ltd.; and Siemens AG
Blood Screening Technology Outlook
Nucleic Acid Amplification Test (NAT)
Chemiluminescence Immunoassay (CLIA) and Enzyme Immunoassay (EIA)
Next-Generation Sequencing (NGS)
Blood Screening Product Outlook
Blood Screening Regional Outlook
The Blood Screening market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Blood Screening market for the base year 2020 and the forecast between 2021 and 2030. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Blood Screening market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Blood Screening market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Blood Screening market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Blood Screening capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Blood Screening by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Blood Screening market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2030. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Blood Screening market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Blood Screening market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Blood Screening industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
The Blood Screening market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Blood Screening market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Blood Screening market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Blood Screening market. These factors have benefited the growth of the global market for Blood Screening. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Blood Screening. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of Blood Screening are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
Market Size Estimation
Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).
The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.
Market Breakdown and Data Triangulation
After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.
Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.
The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.
The study objectives of this report are:
To strategically profile the key players and comprehensively analyze their growth strategies.
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