Monday 24 February 2020

Blood Screening market to receive overwhelming hike in revenues by 2023

The Global Blood Screening Market is expected to register a growth of significant CAGR 9.8% during the forecast period (2018–2023).
Blood Screening is a medical procedure where the donated blood is tested for the presence or absence of HIV, HBV, HCV, malaria, syphilis, and for various other infectious diseases. The donated blood is screened for these infectious diseases to lessen the risk of transfusion-transmitted infections (TTIs).
Factors such as increasing number of blood donations and blood donors, increasing awareness about the safety of donated blood are some major factors influencing the growth of blood screening market. Moreover, increasing affordability and adoption of nucleic acid test (NAT) for blood screening, and growing prevalence of infectious diseases is also boosting the growth of this market. Nevertheless, principal expenditure and the operational costs of NAT devices, lack of regulations for NAT in developing countries, and the advent of alternative technologies are limiting the growth of market. Additionally, china’s and India’s market are observed as rising economies due to the introduction of pathogen reduction technology, and demand of multiplex tests.
Segmentation:
The Global Blood Screening Market has been segmented on the devices, service providers, application, end users.
On the basis of technology, the market has been classified as nucleic acid amplification test (NAT), enzyme-linked immunosorbent assay (ELISA), rapid tests, next-generation sequencing (NGS), western blotting. The nucleic acid amplification test is segmented in to transcription-mediated amplification (TMA) and real-time polymerase chain reaction (PCR). The enzyme-linked immunosorbent assay is segmented in to ELISA market, by platform and ELISA market, by generationOn the basis of products and services, the market has been classified as reagent and kits, enzymes and polymerases, standards and controls, probes and primers, buffers, nucleotides, and solutions, immunosorbents, instruments and software and services. The reagent and kits have been segmented in to NAT reagents & kits, ELISA reagents & kits. The instruments have been segmented in to rental purchase and outright purchase.
On the basis of end users, the market has been classified as hospitals, clinics, research institutes and academic centers, blood banks and others.On the basis of region, the market is segmented into the Americas, Europe, Asia-Pacific, and the Middle East and Africa. The Americas has been further segmented into North America and South America, with the North American market divided into the US and Canada.
The European arrhythmia monitoring devices market has been segmented into Western Europe and Eastern Europe. Western Europe has further been classified as Germany, France, the UK, Italy, Spain, and the rest of Western Europe.  The Blood Screening Market in Asia-Pacific has been segmented into Japan, China, India, South Korea, Australia, and the rest of Asia-Pacific. TheBlood Screening Marketin the Middle East and Africa has been segmented into the Middle East and Africa.
Regional Market Summary:In the Blood Screening Market, North America is anticipated to account for largest market share due to the early adoption of advanced medical technologies, continuous development by companies operating into drugs. According to America’s Blood organization 1 in 7 people entering the hospitals needs blood. According to American Red Cross, less than 38 percent of the population is eligible to give blood or platelets. According to Centers for Disease Control and Prevention (CDC), there are more than 9.5 Million blood donors in the United States and an estimated 5 million patients who receive blood annually, resulting in a total of 14.6 Million transfusions per year.
The European market is expected to hold the second largest market share. Factors such as a rise in research expenses, advancement of technology, the decline in human health, and the necessity for innovative and effective therapies boost the growth of the market in this region. According to World Health Organization (WHO) the average number of donations across the European Region ranges from 6 to 67.6 per 1000 inhabitants, with Demark reporting the highest blood donation rate.
Whereas the market share in Asia-Pacific region is also anticipated to experience growth in the near future due to access to optimal treatment facilities and growing demand for increasing government initiatives, advanced technology, better adoption rate, and rising healthcare expenditure. Countries in the Asia pacific region, such as China and India, are the hotspots for investment opportunities due to treatment and research activities, growing number of partnerships and healthcare modernization, growing rate of diagnosis, quality improvisations.
The market in the Middle East & Africa is expected to account for the smallest share of the global blood screening market due to an underdeveloped healthcare sector, the dearth of technical knowledge, and poor medical facilities.
Key Players:
Some of the key players in the Global Blood Screening Market Grifols, F. Hoffmann-La Roche, Abbott Laboratories, Biomérieux, Bio-Rad Laboratories, Inc., Siemens Healthineers (A Subsidiary of Siemens AG), Ortho Clinical Diagnostics, Inc., Thermo Fisher Scientific, Inc., Beckman Coulter (A Subsidiary of Danaher Corporation) and Becton, Dickinson and Company.
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