NEW YORK, April 27, 2020 (GLOBE NEWSWIRE) -- According to the World Health Organization (WHO), the number of blood donations has increased manifold in the last few years. The biggest jump in voluntary unpaid donations has been registered in Southeast Asia and the Americas, with the former region recording a donation of 5.9 million units in 2015. Among the countries covered in the WHO article, 78 get almost 90% of the blood from unpaid voluntary people.
With the increasing blood donation activities, the demand for the various products used to test blood for infections is also rising. This is predicted to lead to the growth of the global blood screening market, at a CAGR of 8.1% between 2020 and 2030 (forecast period); the market stood at $2,402.3 million in 2019.
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Nucleic Acid Technology (NAT) to Dominate the Market till 2030
Till 2030, the nucleic acid technology (NAT) category would hold the largest share in the blood screening market, as this technology is more sensitive than others, which leads to its heavy usage at blood testing establishments.
During the historical period (2014–2019), the reagents & kits were the highest-revenue-generating division in the blood screening market, as they are used repeatedly during blood screening. Other reasons for this are that a wide array of reagents are easily available and the demand for quick and reliable results regarding the presence of transfusion-transmissible infections (TTIs) in the blood is rising.
The cancer classification is expected to experience the highest CAGR in the blood screening market, of 8.7%, during the forecast period. This is owing to the rising prevalence of cancer and the fact that during treatment, blood is heavily screened for infections, before giving it to patients. According to the WHO, cancer is already the second-leading cause of mortality, leading to approximately 9.6 million deaths annually.
Blood banks dominated the blood screening market in 2019, as a result of the high organ transplant surgery volume, increasing awareness regarding the safety of transfused blood, and surging blood donation activities.
North America was the largest market for blood screening products and services during the historical period, due to the presence of numerous market players, who are introducing a range of new products, and the increasing prevalence of respiratory and infectious diseases. In the coming years, Asia-Pacific (APAC) would witness the fastest blood screening market growth, on account of the surging activities of key players, low labor cost, and increasing incidence of chronic diseases, especially cancer, in the region.
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Product Launches are Strongest Strategic Measures in Market
Product launches have been the strongest strategic measure taken by the companies operating in the blood screening market, in order to strengthen their position in the industry.
For instance, Bio-Techne Corporation introduced the QuicKit enzyme-linked immunosorbent assay (ELISA) product line in February 2020. This enhanced product line is designed to help researchers accomplish more without having the blood sample compromised. With this kit, the protein concentration in plasma, serum, and cell supernates can be detected within 90 minutes.
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In March 2020, Ortho-Clinical Diagnostics Inc. received the USFDA 510(k) clearance to market its VITROS B•R•A•H•M•S Procalcitonin (PCT) assay to help clinicians identify sepsis and other severe bacterial infections. The assay will be available in the coming weeks on the VITROS 3600 immunodiagnostic system, VITROS 5600 and VITROS XT 7600 integrated systems, and VITROS ECi and ECiQ systems.
Abbott Laboratories, General Electric Company, Bio-Rad Laboratories Inc., Merck KGaA, Thermo Fisher Scientific Inc., Becton, Dickinson and Company, Siemens AG, DiaSorin S.p.A, Grifols S.A., Bio-Techne Corporation, J. Mitra & Co. Pvt. Ltd., Ortho-Clinical Diagnostics Inc., Trinity Biotech plc, F. Hoffmann-La Roche Ltd., Gesellschaft zur Forschung, PerkinElmer Inc., Danaher Corporation, Entwicklung und Distribution von Diagnostika im Blutspendewesen mbH (GFE), and bioMérieux SA are the major players in the global blood screening market.
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