Wilmington, Delaware, United States, March 07, 2024 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - In 2022, the value of the global blood group typing market was US$ 2.6 billion. The market is projected to realize a promising CAGR of 8.8%. The market's overall valuation will reach US$ 5.5 billion by 2031.
Two main drivers have been influencing the market significantly. The foremost driver includes the increased proportion of road accidents, which have harmed many people spilling their blood. Consequently, such cases require the blood banks to be easily accessible, creating a strong market driver. Statistically, about 1.5 million fall prey to death annually during road accidents. This number depicts the gravity of the topic.
Forensic sciences have been demanding blood group typing on a larger level, followed by the demand posted by prenatal testing. Consequently, these two factors contribute wholesomely to the development of the market.
The market growth could also be explained statistically by shedding some light on people dying of tuberculosis, which accounts for about 1.6 million. In contrast, the percentage of anemic children and adults was approximately 48.2% and 12.8%, respectively, in 2021. Due to this, the scope of the market increases.
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Key Findings from the Market Report
- In modern technology, erythrocyte-magnetized technology (EMT) has been used extensively to determine a person's blood type. Furthermore, various tests can be performed using this technology. These tests include antibody testing, ABO grouping, Rh typing, and so on.
- Reagent is another market segment under the consumable product category in the blood group testing market. These reagents test antibodies generated within an individual’s body to identify his blood group. Antigens could be detected such that the human body's response to a particular virus/bacteria is studied, which is the primary aim.
- PCR technique is one of the important market segment wings that has allowed medical professionals to identify the variants of blood groups. However, an important development in this case is that blood must not be withdrawn from the patient’s body.
- The issue caused due to incompatibility of the blood groups of the donor and the patient could create problems for the patient, which is resolved by the technique of ABO testing. Similar to the previously mentioned market segments, this market segment of the blood group testing market also has great importance and seems to be emerging.
Regional Profile
- Regarding the number of road accidents, the USA alone has engaged in a high number of road accidents involving as many as 12.5 million vehicles. Due to this, the requirement for blood transfusion in such cases is more in the country.
- A similar scenario could be observed in the rest of the North American continent. Therefore, North America leads the market, securing a high market share in the blood group typing market.
- Apart from this, Europe is also considered a significant contributor to road accidents. Consequently, the said market dynamics are considerably governed by the European continent.
- Latin America, Asia-Pacific, the Middle East, and Africa are significant contributors to the market.
Key Trends for the Blood Group Typing Market
- Grifols acquired Biotest AG in 2022, which gave different dynamics to the blood group testing market, as hematology and immunology are the forte of the medical organizations in the European healthcare sector. This leads to innovation in the industry.
- In February 2022, RhD and ABO blood grouping kit was made available for blood typing and screening to address the issue of infectious diseases. This was initiated by the specialized organization in the industry named InTech.
- After neutralizing all antitrust regulations, Werfer acquired Immucor Inc. in March 2023. Due to this, the transplantation segment has gained new horizons.
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Competitive Landscape
The competitive landscape is much coarse, as various organizations have been fiercely competing with each other with their diversified product portfolio. Grifols S.A. mainly assists hospitals by providing them with complete healthcare solutions. Further, it also manufactures and offers diagnostic equipment along with biopharma products.
Merck KGaA operates in the healthcare, electronics, and life science sectors. From the healthcare sector, it has gained expertise in oncological equipment. AliveDx offers a wide range of testing kits essential for clinics and hospitals.
Key Players
- Grifols S.A.
- Bio-Rad Laboratories Inc.
- Merck KGaA
- Ortho Clinical Diagnostics
- AliveDx
- ABG Health Care GmbH
- Immucor Inc.
- Danaher Corporation
- Agena Bioscience Inc.
- Rapid Labs Ltd.
- Novacyt Group
Market Segmentation
Product
- Instruments
- Automated
- Semi-Automated
- Manual
- Consumables
- Reagents
- Test kits
- Antisera
- Others
- Services
Technique
- PCR-Based
- Microarray-based
- Assay-based
- Massively parallel
Test
- Antibody screening
- HLA Typing
- ABO matching test
- Cross Matching test
- Antigen typing
End User
- Hospitals
- Clinical laboratories
- Blood banks
- Others
Region
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
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