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The U.S. blood transfusion diagnostics market size was valued at USD 1.91 billion in 2021 and is projected to grow from USD 2.20 billion in 2022 to USD 3.58 billion by 2029, at a CAGR of 7.2% during the forecast period. The global market exhibited a decline of -6.5% in 2020 as compared to 2019. The global COVID-19 pandemic has been unprecedented and staggering, with blood transfusion diagnostics experiencing lower-than-anticipated demand in the U.S. compared to pre-pandemic levels.
Blood transfusion diagnostics refer to the tests performed on blood or blood components prior to the transfusion process. These tests are referred to as pre-transfusion tests such as blood group typing and blood screening which are imperative as they help in avoiding adverse reactions or prevent the transmission of any infection. They also aid healthcare professionals in finding compatibility between the donor's and the recipient’s blood types. Furthermore, there is increased adoption of these products in blood banks where several tests are performed or store donated blood units and later conduct a safe transfusion process. Thus, these factors have also accelerated the demand as these diagnostics refer to tests, which are mandatory for the blood transfusion process in the country.
Over the recent years, growth in the number of blood transfusions due to a number of factors has been witnessed. This is due to the surge in the launches of new products to cater to the needs of patients requiring regular blood transfusions. Furthermore, due to the increasing number of blood donations in the country, blood group typing and screening procedures are performed more frequently, which will help the market to record strong growth in the forecast period. The awareness regarding blood transfusion diagnostics procedures among the population and the growing demand for blood and blood components are expected to contribute positively to the transfusion diagnostics market growth in the forecast period.
Global Market Witnessed a Negative Impact due to Decline in Blood Transfusion Procedures
The impact of COVID-19 on the U.S. healthcare system differed as the impact varied from market to market. Preventative steps such as lockdowns imposed by the regulatory bodies to curb the spread of the virus led to the decline of the blood transfusion diagnostics market.
The decline in the number of patients visiting healthcare institutions led to a considerable drop in the number of blood transfusion diagnostic procedures as it refers to tests performed as a prerequisite for surgical and transplantation procedures. Furthermore, a decline in the number of blood donations led to a limited number of blood group typing and screening procedures. Thus, both of these factors led to the decline of the market.
Major companies with significant product applications and portfolios for transfusion diagnostics also reported a decline in their revenue as the demand for their products declined during the pandemic. Disruption in their manufacturing and supply chain operations also leads to a decline in their revenue.
In 2021, after the COVID-19 restrictions were lifted, the market witnessed growth as healthcare activities returned to their normal pace. Furthermore, the rise in organ transplants, a key procedure that requires blood transfusions, also increased, which contributed to the market growth.
Therefore, key players also reported an increase in their revenue as compared to the previous year due to the increase in the number of blood transfusion diagnostics procedures in 2021.
Adoption of Automated Blood Group Typing Technologies to Drive Market Growth
The increasing focus of major players toward launching automated blood group typing technologies can be considered one of the major trends in the market. Automated technologies improve the diagnostic transfusion process by reducing the turnaround time without compromising safety and maintaining the standard. The automated platforms have proven to be pivotal for the detection of transfusion-transmitted infections (TTIs) in an individual’s blood sample eliminating human error during the transfusion process.
The technology is said to significantly improve the diagnostic transfusion process by enhancing its speed and maintaining standardization along with safety. Automated blood group typing solutions provide several benefits such as efficiency, cost-effectiveness, and few errors compared to manual typing systems. Furthermore, automated blood group typing solutions do not require multiple healthcare personnel, which can lead to cross-trained and less experienced medical professionals in transfusion service.
Therefore, the launch of such advanced technologies is expected to fuel market growth in the forecast period.
Rising Demand for Blood and Blood Components to Accelerate Market Growth
The growing prevalence of blood-related disorders, such as hemophilia, leukemia, and thrombocytopenia, and the rapid increase in chronic diseases amongst the general population have been responsible for the increased demand for transfusion of blood and blood components.
Furthermore, rising cases of blood disorders amongst geriatric patients suffering from blood disorders also lead to an increase in the demand for blood transfusion diagnostics. Similarly, growth in the number of patients suffering from anemia has also led to an upsurge in demand for blood transfusion diagnostics procedures in the country. This, along with the increasing number of surgical procedures due to the rising number of trauma cases and road accidents, further augments the demand for blood transfusion procedures. Therefore, the above factors are contributing to the increasing demand for these diagnostics and are thus fueling the growth of the market in the forecast period.
Increase in Number of Blood Donations to Propel Market Growth
The country witnessed a rise in the number of blood donations over a decade. The surge in the adoption of blood group typing and blood screening procedures during these blood donation procedures has fueled the growth of the market.
The COVID-19 pandemic drastically led to a decrease in the number of blood donations during that time period. However, the growing demand for blood in the country for several surgical and medical applications will eventually lead to an increase in the number of donations.
Similarly, several government initiatives in regard to voluntary blood donations are also anticipated to accelerate the growth in the number of donations in the forecast period.
Hence, the growth in the number of blood donations in the country will lead to the increasing adoption of these products in several facilities, including hospitals and blood donation centers thereby, leading to market growth in the forecast period of 2022-2029.
Adverse Reactions Associated with Blood Transfusion Processes May Hinder Market Growth Prospects
Blood transfusions may sometimes cause side effects, including allergic reactions, blood-borne infections, and fever or acute hemolytic reactions. These side effects associated with transfusion procedures may negatively affect the growth of the market in the forecast period.
Another adverse reaction an individual faces during a transfusion process is an acute immune hemolytic reaction. It is a rare reaction but is considered serious and is caused when a patient’s blood does not match with the donor. The reaction is caused when the transfused red blood cells are destroyed by the patient’s immune system, causing hemolysis.
Such side effects associated with blood transfusion procedures may negatively impact its adoption amongst patients opting for it. This may hinder the U.S. blood transfusion diagnostics market growth.
Significant Product Launches in Reagents & Kits Lead to the Segment’s Dominance
On the basis of product, the market is bifurcated into reagents & kits and instruments. The reagents & kits segment holds a dominant share of the market. The segment dominates the blood transfusion diagnostics market as these products are used more often compared to the instruments. Furthermore, initiatives by key companies to launch new products in this segment also lead to its dominance.
The instruments segment holds a comparatively lower U.S. blood transfusion diagnostics market share as the cost associated with these products are much higher. Furthermore, the instruments have a longer shelf life, and thus the replacement rate is lower as compared to reagents & kits. Moreover, a single instrument can be used for multiple purposes, which leads to slower adoption of these products.
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Blood Screening Segment to Grow at a Moderately Faster Pace due to the Prevalence of Transfusion-Transmissible Infections
Based on application, the market is segmented into blood group typing and blood screening. The blood screening segment is expected to record a comparatively higher CAGR over the forecast period. This is due to the growing prevalence of transfusion-transmissible infections along with the presence of a vast product portfolio to cater to the growing number of blood screening procedures.
The blood group typing segment is estimated to grow at a comparatively lower CAGR in the forecast period. However, the growing demand for pre-transfusion blood group typing tests to check for the compatibility of the donor and the recipient blood type will lead to the segment’s growth in the forecast period.
Strong Patient Volumes in Blood Banks & Independent Laboratories Ensured Segment’s Dominance in 2021
Based on end-user, the market is divided into independent laboratories & blood banks and hospital-based laboratories. The independent laboratories & blood banks segment is likely to account for the highest market share during the forecast period. This segment's dominance is owing to the growing number of labs and stand-alone clinical laboratories. Furthermore, partnerships amongst labs and government organizations such as the American Red Cross are also expected to fuel the growth of the segment in the forecast period.
The presence of a large number of hospitals with laboratories having advanced instruments to perform blood transfusions in the U.S. resulted in the growth of the hospital-based laboratories segment.
Strong Product Portfolio and Significant Regulatory Approvals to Enable Grifols, S.A. and F. Hoffmann-La Roche Ltd. Led to Market Dominance in 2021
In terms of the competitive landscape, the market reflects the presence of established companies. Grifols, S.A. dominated the U.S. market in 2021. The company's apex position is attributed to the presence of versatile blood transfusion diagnostics products in the U.S.
Other prominent companies with a considerable presence in the market include F. Hoffmann-La Roche Ltd and QuidelOrtho Corporation. Multiple regulatory approvals received by these companies have contributed to the dominance of these companies' market share.
Such major factors are expected to further enable these companies to strengthen their market presence. Other players, such as Bio-Rad Laboratories, Abbott, Quotient Limited, Beckman Coulter, Inc., and Immucor, Inc., with their strong distribution network and diverse product portfolio are steadily increasing their presence in the market.
An Infographic Representation of U.S. Blood Transfusion Diagnostics Market
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The U.S. blood transfusion diagnostics market research report provides a detailed analysis and factors driving the market. It focuses on key aspects such as an overview of technological advancements, prevalence of key bleeding disorders, and blood donation statistics. Additionally, the report includes an insight regarding blood donations and blood group type, distribution of blood group type in the population, blood transfusion statistics, new product launches, key industry developments, such as mergers, partnerships, & acquisitions, and the impact of COVID-19 on the market. Besides this, the report also offers insights into the market trends and highlights key industry dynamics. In addition to the aforementioned factors, it encompasses several factors that have contributed to the growth of the market in recent years.
Value (USD billion)
By Product, Application, End-user
Fortune Business Insights says that the market size was USD 1.91 billion in 2021 and is projected to reach USD 3.58 billion by 2029.
In 2021, the market stood at USD 1.91 billion.
Registering a CAGR of 7.2%, the market will exhibit steady growth during the forecast period (2022-2029).
The blood screening segment is expected to lead this market during the forecast period.
The increasing demand for blood and blood components, technological advancements, and the high prevalence of blood disorders are driving the growth of the market.
Grifols, S.A., F. Hoffmann-La Roche Ltd, and QuidelOrtho Corporation are the top players in this market.
Increased number of blood donations, which leads to adoption of transfusion diagnostics products and new launches of advanced products and applications are expected to drive the adoption.
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