Blood Transfusion Diagnostics Global Market Report 2024

The blood transfusion diagnostics market size has grown rapidly in recent years. It will grow from $3.98 billion in 2023 to $4.42 billion in 2024 at a compound annual growth rate (CAGR) of 11.1%. The growth observed in the historical period can be attributed to several key factors. These include the rising frequency of blood transfusions, the emergence of new pathogens necessitating stringent diagnostics, an aging population requiring more transfusions, a growing demand for swift and efficient blood transfusion diagnostics, the increasing prevalence of chronic diseases requiring transfusion support, and an overall rise in the demand for blood products. These elements collectively contributed to the growth and advancements in blood transfusion diagnostics during this period.

The blood transfusion diagnostics market size is expected to see rapidly grown in the next few years. It will grow to $6.04 billion in 2028 at a compound annual growth rate (CAGR) of 8.1%. Anticipated growth in the upcoming period is expected to stem from several key factors. These include the increasing demand for precision medicine, heightened investments in enhancing blood transfusion infrastructure, a growing need for molecular blood transfusion diagnostics, concerns arising from emerging infectious diseases, and an amplified focus on ensuring blood safety.

The demand for blood transfusion diagnostics is on the rise, fueled by the increasing number of surgeries performed annually. These diagnostics are crucial in screening donated blood before transfusion to patients, preventing potential infectious diseases. With an estimated 310 million surgeries conducted each year, the necessity for blood transfusion diagnostics is growing in tandem with these procedures.

Blood-related diseases are contributing significantly to the expansion of the blood transfusion diagnostics market. Conditions like anemias, leukemia, and clotting disorders necessitate precise diagnostics for early detection and safe management. The prevalence of these diseases is evident, with statistics from January 2023 showing approximately 59,610 new cases and 23,710 deaths from leukemia, while acute myeloid leukemia (AML) accounted for around 20,380 new cases. This prevalence drives the need for improved diagnostics to ensure optimal patient care. The inclination toward nucleic acid amplification testing (NAT) for blood safety and efficiency is growing due to its accuracy in detecting pathogens like bacteria and viruses. This testing method, detecting specific nucleic acids of pathogens in blood, tissue, or urine, offers high sensitivity and early identification of infectious diseases. XCRP Diagnostic Inc. And Luminex Corporations' agreement for the Xtreme Chain Reaction Nucleic Acid Amplification Technology exemplifies the industry's focus on advancing diagnostic capabilities through strategic partnerships.

Innovations in serological testing, such as the Immediate Spin Crossmatch (ISXM) test, are enhancing blood transfusion diagnostics. This test aids in identifying ABO blood type incompatibility between donor red blood cells and recipient serum/plasma. Ortho Clinical Diagnostics' launch of immediate spin crossmatch capabilities on the ORTHO VISION and ORTHO VISION MAX Analyzers in September 2021 underlines the industry's commitment to evolving diagnostic solutions for better donor-recipient matching in transfusions.

Major companies operating in the blood transfusion diagnostics market include BAG Health Care GmbH, Grifols S.A., Bio-Rad LaboratoriesInc., Abbott Laboratories, Immucor Inc., Ortho Clinical Diagnostics, DiaSorin S.p.A, Siemens Healthineers, Thermo Fisher Scientific Inc., Beckman Coulter Inc., Novartis AG, F. Hoffmann-La Roche Ltd., Quotient Limited, HologicInc., Roche Diagnostics, bioMerieux, Diagast SAS, Fujirebio, Biokit S.A., QuidelOrtho Corporation, Gen-Probe, Proteomes Sciences PLC, Danaher Corporation, Immucor Inc., Becton Dickinson and Company, Quotient Biodiagnostics, Thermo Fisher Scientific, Sekisui Diagnostics, Sysmex Corporation, Werfen S.A.

North America was the largest region in the blood transfusion diagnostics market in 2023. Western Europe was the second-largest region in the blood transfusion diagnostics industry. The regions covered in the blood transfusion diagnostics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

The countries covered in the blood transfusion diagnostics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada. The blood transfusion diagnostics market consists of revenues earned by entities by providing installation and maintenance services. The market value includes the value of related goods sold by the service provider or included within the service offering. The blood transfusion diagnostics market also includes sales of blood transfusion diagnostics devices. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

These diagnostics are primarily categorized into instruments and kits, along with reagents and other ancillary tools. Blood transfusion diagnostic kits are instrumental in collecting and safely transfusing blood, utilizing technologies like western blot, ELISA, nucleic acid amplification, fluorescence assays, and rapid testing. These technologies are employed across diverse applications, specifically in blood grouping and disease screening procedures. End-users of blood transfusion diagnostics span various sectors, including hospitals, diagnostic laboratories, blood banks, and companies engaged in plasma fractionation. These entities rely on these diagnostic tools to ensure the safe and accurate transfer of blood components between donors and recipients.

The blood transfusion diagnostics market research report is one of a series of new reports provides blood transfusion diagnostics market statistics, including blood transfusion diagnostics industry global market size, regional shares, competitors with a blood transfusion diagnostics market share, detailed blood transfusion diagnostics market segments, market trends and opportunities, and any further data you may need to thrive in the blood transfusion diagnostics industry. This blood transfusion diagnostics market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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