Global Blood Screening Market Size, Trends & Growth Opportunity, By technology, By product, and By Region and Forecast till 2027.

The global blood screening market is projected to reach USD 3.8 billion by 2027 from USD 2.5 billion in 2020, at a CAGR of 8.4%
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Blood is a liquid-based living tissue that contains numerous cells and proteins suspended in it. It is a fluid that circulates throughout the body and contains red blood cells, white blood cells, and platelets. It also helps the body get rid of metabolic waste and carbon dioxide.

A blood screening is a medical procedure that involves examining blood for the presence of a specific disease or condition. It aids in the detection and prevention of diseases, as well as a variety of other conditions such as infections and cancer. The most common blood screening tests are for the Human Immunodeficiency Virus (HIV), blood type, and pregnancy.

Drivers:

Some of the key drivers are an increase in the number of blood donations and blood donors, an increase in awareness about the safety of donated blood, an increase in the prevalence of infectious diseases, an increase in the demand for donated blood, an increase in health care expenditure, an increase in the adoption of nucleic acid testing, technological advancements in blood screening, an increase in health care awareness, and an increase in the number of initiatives by various governments and government associations.

Restraints:

Complex regulatory frameworks for approval, a lack of skilled labour, the presence of alternative technologies such as digital immunoassay, and high initial capital expenditure and testing operating costs are the major restraints on the global blood screening market's growth.

Impact of Covid-19

The COVID-19 pandemic has had a positive and negative impact on the blood screening market. Many companies developed several serological tests to detect COVID-19 antibodies in the aftermath of the COVID-19 outbreak. For example, the United States Food and Drug Administration (FDA) has given Emergency Use Authorization (EUA) to about 50 serological tests that detect COVID-19 antibodies. These tests are used to determine the virus's seroprevalence in a given population. Furthermore, the number of hospitalizations has increased dramatically, which is expected to increase demand for donated blood or its components and positively impact the blood screening market.

Market Segmentation

• Segmentation By Technology: Global Blood Screening Market is classified on the basis of Technology into Nucleic Acid Amplification Test (NAT), ELISA, Chemiluminescence Immunoassay (CLIA) and Enzyme Immunoassay (EIA), Next-Generation Sequencing (NGS), and Western Blotting.
• Segmentation By Product: Global Blood Screening Market is classified on the basis of Product into Reagent and Instrument.
• Segmentation By Region: Global Blood Screening Market is classified on the basis of Region into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

Competitive Landscape: The key players of Global Blood Screening Market are Grifols (Spain), F. Hoffmann-La Roche Ltd. (Switzerland), Abbott Laboratories, Inc. (US), bioMérieux (France), Bio-Rad Laboratories, Inc. (US), Becton, Dickinson and Company (US), and Beckman Coulter, Inc. (Danaher) (US).

Industrial Development

• Beckmann Coulter (US) launched SARS-CoV-2 IgG in May 2021.
• Roche Diagnostics (Switzerland) acquired TIB Molbiol Group in September 2021. (Germany). With a wide range of assays for infectious diseases, such as identifying SARS-CoV-2 variants, this acquisition will complement Roche's broad portfolio of molecular diagnostics solutions.
• BD (US) acquired NAT Diagnostics (US) in February 2020, bolstering an early-stage company developing a molecular diagnostic platform for point-of-care testing.

Market Taxonomy

By technology:

• Nucleic Acid Amplification Test (NAT)
• ELISA
• Chemiluminescence Immunoassay (CLIA) and Enzyme Immunoassay (EIA)
• Next-Generation Sequencing (NGS)
• Western Blotting

By product:

• Reagent
• Instrument

By Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

Key Questions Addressed by the Report

• What are the Key Opportunities in Global Blood Screening Market?
• What will be the growth rate from 2020 to 2027?
• Which segment/region will have highest growth?
• What are the factors that will impact/drive the Market?
• What is the competitive Landscape in the Industry?
• What is the role of key players in the value chain?