The Global Blood Transfusion Diagnostics Market Size is estimated to gain positive market owning to the factors like increasing number of surgical procedures, and rising number of chronic diseases owning to the rising geriatric population.
Blood Transfusion is the process of receiving blood or blood components into circulation intravenously. Early this process was used to transfer whole blood, but the latest practices are allowing the transfusion of required components of blood like white blood cells, plasma, red blood cells, platelets, and plasma. Blood transfusion is a lifesaving process that replaces blood cells that are lost through severe bleeding in surgical procedures or anaemic patients that needs blood to increase blood count. Despite being a lifesaving procedure, blood transfusion can also cause immunologic reactions such as: delayed haemolytic reaction, acute haemolytic reaction, febrile non-haemolytic reaction, allergic reactions, post-transfusion purpura, and anaphylactic reactions. WHO mentioned the global blood collection to be 112.5 million in 2017, out of which 50% and above is collected from the high income countries. Also, there is continuous increase in the voluntary unpaid donor’s number since 2003 which has helped the developing countries in getting adequate supply of blood when required. Hence, increasing number of voluntary unpaid blood donations in the low-income countries attribute the growth of this industry.
Proper screening of blood for identification of HIV, hepatitis B, hepatitis C and many other transferable diseases along with proper implementation of effective quality systems that include good manufacturing practices while blood transfusion is also important.
The global blood transfusion market is primarily driven by the factors such as increasing requirement of blood transfusion while surgical procedures related to heart or orthopaedics. Additionally, increased governments initiatives for using good manufacturing practices while transfusion of blood would also be beneficial for the growth of blood transfusion diagnostics market size. Other factors like technological advancements in blood transfusion equipment, and government schemes for voluntary and paid donation would also positively grow the global blood transfusion diagnostics market size. Moreover, the increased availability treatments for blood transfusion would also catalyse this market.
However, better techniques for blood transfusion, and lack of availability of blood in the developing countries could impede the growth of blood transfusion diagnostics market.
The global blood transfusion diagnostics market is segmented on the basis of product type, application, end-use and geography.
On the basis of product type, the global blood transfusion diagnostics market is segmented as
On the basis of application type, the global blood transfusion diagnostics market is segmented as
On the basis of end use, the global blood transfusion diagnostics market is segmented as
Geographically, the global blood transfusion diagnostics market Size is categorized into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
On the basis of geography, North America is expected to dominate the global blood transfusion diagnostics market Size over forecast period. North America dominates the major market share owning to the rising healthcare expenditure and increased demand for blood transfusion to avoid complications in surgical procedures. In addition, continuous technological advancement in the region would also spur the market. Europe is observed to hold the second largest share in the blood transfusion diagnostics market.
However, Asia Pacific blood transfusion market is expected to grow at faster rate during the forecast period. Increasing requirement of blood transfusion, and improved healthcare technologies awareness for blood transfusion are major factors anticipated to govern the global blood transfusion diagnostics market in Asia Pacific during upcoming years.
Key players in the global blood transfusion diagnostics market are: