Blood Group Typing Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The major factors for the growth of the blood group typing market include the increasing demand for blood group typing in prenatal testing, a growing number of road accidents, emergencies, and trauma cases necessitating blood transfusions, and rising number of blood donations.

The blood group typing is done to safely donate the blood or receive a blood transfusion. It is also done to see if a person has a substance called Rh factor on the surface of red blood cells. There is a huge demand for blood typing products in the market owing to the rising road accidents and blood transfusions. For instance, according to Germany's Federal Statistics Office (Destatis) in 2019, 3,059 people were killed in road traffic accidents in Germany. In the case of the road accidents, there is a huge loss of blood and hence those patients require an immediate blood transfusion. Thus, the above-mentioned factors are expected to boost the growth of the market over the forecast period.

Key Market Trends

Blood Banks are expected to Witness Healthy Growth Over the Forecast Period

Every year, nearly five million Americans need blood transfusions. An estimated 43,000 units of donated blood are used each day in the United States. Blood banks play a critical role by storing blood for future use. Also, blood banks carefully screen donated blood to keep blood safe. Blood transfusions sometimes cause transfusion reactions, therefore extensive precautions are taken before any blood transfusion in order to prevent infections from happening. After that, the blood type of the unit is checked many times, and the unit is carefully matched to ensure that it matches the blood type and Rh factor of the person who will receive it by both the nurse and blood bank lab technician. Thus, the market is expected to witness high growth. A number of tests are generally performed in blood bank before blood transfusion which includes screening for antibodies that may produce adverse effects if transfused, screening for possible infectious agents, ABO group and Rh type, screening for blood-group antibodies, and serologic tests. With the rising trend of blood donation out of social concern, the importance of blood group typing is also likely to grow.

North America is Expected to Hold Largest Market Share over the Forecast Period

An increase in the number of road accidents and rising prevalence of chronic diseases are the major factors driving the growth of the market studied. According to the Association for Safe International Road Travel, more than 38,000 people die every year in crashes on U.S. roadways. The U.S. traffic fatality rate is 12.4 deaths per 100,000 inhabitants. Furthermore, road crashes cost the U.S. more than USD 380 million in direct medical costs. This is expected to augment the demand for blood group typing market over the forecast period.

Furthermore, there is an increasing demand for blood transfusion in the United States. As per the estimates of the American National Red Cross, approximately 36,000 units of red blood cells are needed every day, and nearly 21 million blood components are transfused each year in the United States. In all of the above cases there is a huge need of blood typing and rising in the number of such cases will boost the growth of the market.

Competitive Landscape

The market studied is a fragmented owing to the presence of various market players. Some of the market players are Agena Bioscience, Inc., Beckman Coulter, Bio-Rad Laboratories, Inc., DAY MEDICAL SA, Grifols, S.A., Immucor, Inc., Merck KGaA, Quotient, Ltd., and Thermo Fisher Scientific

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