Blood Screening Market is Expected to Reach $3.4 billion

Chicago, Oct. 06, 2023 (GLOBE NEWSWIRE) — The blood screening industry is poised for remarkable advancements in the near future, driven by cutting-edge technologies and an evolving understanding of healthcare. With the ongoing development of innovative diagnostic tools, such as advanced genetic sequencing, liquid biopsy techniques, and AI-driven data analysis, blood screening is set to become more precise, accessible, and personalized. These innovations promise earlier and more accurate detection of a wide range of diseases, including cancer, infectious diseases, and genetic disorders, ultimately revolutionizing preventative healthcare and significantly improving patient outcomes. As the industry continues to embrace these breakthroughs, we can anticipate a future where blood screening plays a pivotal role in proactive healthcare management, helping individuals and healthcare providers detect and manage diseases at their earliest stages.

Blood Screening market in terms of revenue was estimated to be worth $2.4 billion in 2023 and is poised to reach $3.4 billion by 2028, growing at a CAGR of 7.2% from 2023 to 2028 according to a latest report published by MarketsandMarkets™. Factors such as the rising prevalence of infectious diseases, growing blood needs and increasing awareness for blood donations are driving the growth of this market. However, lack of skilled professionals and the high cost of blood screening instruments is likely to hinder the growth of the blood screening market.

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Blood Screening Market Scope:

Report Coverage	Details
Market Revenue in 2023	$2.4 billion
Estimated Value by 2028	$3.4 billion
Growth Rate	Poised to grow at a CAGR of 7.2%
Market Size Available for	2021–2028
Forecast Period	2023–2028
Forecast Units	Value (USD Billion)
Report Coverage	Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered	Products & service, technology, end user, and region
Geographies Covered	North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
Report Highlights	Updated financial information / product portfolio of players
Key Market Opportunities	Emerging markets
Key Market Drivers	Increasing number of blood donations worldwide

Blood Screening market major players covered in the report, such as:

• F. Hoffmann-La Roche Ltd. (Switzerland)
• Grifols (Spain)
• Abbott Laboratories, Inc. (US)
• Bio-Rad Laboratories, Inc. (US)
• Danaher (Beckman Coulter, Inc.) (US)
• bioMérieux (France)
• Hologic (US)
• Thermo Fisher Scientific, Inc. (US)
• Becton, Dickinson and Company (US)
• DiaSorin (Italy)
• Siemens Healthineers (Germany)
• Ortho Clinical Diagnostics Inc. (US)
• Merck KGaA (Germany)
• Revvity (Earlier known as PerkinElmer Inc.) (US)
• Bio-Techne Corporation (US)
• GFE (Germany)
• Trinity Biotech (Ireland)
• Mindray (China)
• Maccura Biotechnology Co., Ltd. (China)
• Immucor, Inc. (US)
• Cellabs (Australia)
• Abnova Corporation (Taiwan)
• Enzo Biochem, Inc. (US)
• J. Mitra & Co. Pvt. Ltd. (India)
• Tulip Diagnostics (India)
• and Among Others

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This report categorizes the Blood screening market based on product & service, technology, end user, and region:

By Product & Service

• Reagents & Kits
  • NAT Reagents & Kits
    • Enzymes & Polymerases
    • Standards & Controls
    • Probes & Primers
    • Buffers, Nucleotides, and Solutions
    • Labeling & Detection Reagents
  • ELISA Reagents & Kits
    • Immunosorbents
    • Controls
    • Conjugates
    • Substrates
    • Sample Diluents & Wash Solutions
  • Other Reagents & Kits
• Instruments
  • Rental Purchase
  • Outright Purchase
• Software & Services

By Technology

• Nucleic Acid Test
  • Transcription-mediated Amplification
  • Real-time PCR
• Serology/Immunoassay
  • Chemiluminescent Immunoassays
  • Fluorescent Immunoassays
  • Colorimetric Immunoassays/ELISA
• Rapid Tests
• Western Blot Assays
• Next-generation Sequencing

By End User

• Blood Banks
• Hospitals

By Region

• North America
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa

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The key stakeholders in the Blood Screening market include:

• Senior Management
• End User
• Finance/Procurement Department
• R&D Department

Recent Developments:

• In February 2023, Thermo Fisher Scientific Inc. (US) acquired TIB Molbiol (Germany), to expand its PCR test portfolio with a wide range of assays for infectious diseases.
• In December 2021, Hologic, Inc. (US) launched Panther Trax for high-volume molecular testing.
• In May 2021, Beckmann Coulter (US) launched SARS-CoV-2 IgG.
• In September 2021, Roche Diagnostics (Switzerland) acquired TIB Molbiol Group (Germany). This acquisition will enhance Roche’s broad portfolio of molecular diagnostics solutions with a wide range of assays for infectious diseases, such as identifying SARS-CoV-2 variants.

Frequently Asked Questions (FAQs) of Blood Screening Market:

What are the recent trends affecting the blood screening market?
Recent trends affecting the blood screening market are the COVID-19 outbreak, increasing prevalence of chronic disorders, and rising adoption of NAT technology.

What are the major types of blood screening used?
The blood screening market is segmented into reagents & kits, instruments, and software & services. The reagents & kits accounted for the largest share of the blood screening market in 2022, mainly there is increase in blood transfusion procedures, due to which there is more consumption and repeated use of reagents & kits in blood screening procedures.

Who are the key players in the blood screening market?
The key players in this market are F. Hoffmann-La Roche Ltd. (Switzerland), Grifols (Spain), Abbott Laboratories, Inc. (US), Bio-Rad Laboratories, Inc. (US), Danaher (Beckman Coulter, Inc.) (US), bioMérieux (France), Hologic (US), Thermo Fisher Scientific, Inc. (US), Becton, Dickinson and Company (US), DiaSorin (Italy).

Who are the major end users of blood screening?
Based on end users, the blood screening market is segmented into blood banks and hospitals. In 2022, the blood banks segment accounted for the largest share of the blood screening market. The growing number of organ transplantation surgeries is driving the growth of this segment.

Which region is lucrative for the blood screening market?
Like China, Japan, and India, the emerging economies in the Asia Pacific region will be lucrative markets for blood screening.

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Report Objectives:

• To define, describe, segment, and forecast the global Blood screening market, by products & service, technology, end user, and region
• To provide detailed information regarding the major factors influencing the market growth (such as drivers, restraints, opportunities, and challenges)
• To analyze the micromarkets1 with respect to individual growth trends, prospects, and contributions to the overall Blood screening market
• To analyze market opportunities for stakeholders and provide details of the competitive landscape for key players
• To forecast the size of the market segments with respect to five regions, namely, North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa
• To profile the key players and comprehensively analyze their product portfolios, market positions, and core competencies2
• To track and analyze company developments such as product launches & approvals, partnerships, acquisitions, agreements, and other developments
• To benchmark players within the market using the proprietary Competitive Leadership Mapping framework, which analyzes market players on various parameters within the broad categories of business and product excellence

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