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Blood group typing is a test used in determining the blood group of an individual. The need for frequent volumes of blood for patients admitted in hospitals, during surgeries, and blood disorders are likely to warrant for this type of test. The global blood group typing market report by Market Research Future (MRFR) highlights various factors and challenges which can assist investors in making a sizeable assessment.
Market Outlook
The global blood group typing Industry is expected to touch a towering valuation by exhibiting 10.2% CAGR from 2018 to 2023 (forecast period). High cases of road accidents, demand for blood and blood products, and need in prenatal testing are factors likely to drive the market growth. According to the American National Red Cross, close to 21 million blood components are transfused annually in the U.S.
Successful developments in biotechnology which can determine the probability of genetic disorders based on family and patient medical history can work in favor of the blood group typing market. Advances such as magnetic beads in assays and quantum dots are evident of technological advances. The use of blood typing in forensic sciences to discern identities of criminals can drive the market demand. Establishment of large blood banks to ensure a constant supply of blood combined with blood donation campaigns can influence the global market.
The uptick in the volume of major surgical procedures and blood donation rates are prominent drivers of the market. Increasing research and development activities for proper understanding of blood and antibody-antigens can culminate in high dividends. Demand for tests for early diagnosis and faster prognosis of chronic diseases can fuel the blood group typing market.
But lack of skilled professionals and strict rules for blood transfusion can impede market growth.
Competitive Outlook
Day Medical SA, Merck KGaA, AXO Science, Beckman Coulter, Agena Biosciences, Inc., Quotient, Ltd., Novacyt Group, Grifols International, S. A., Bio-Rad Laboratories, Inc., Ortho Clinical Diagnostics, Inc., Immucor, Inc., Rapid Labs, Bag Healthcare GmbH, and others are some of the noteworthy players in the global blood group typing market. Novel product launches in the form of kits and collaborations are prime strategies by players to gain a competitive edge.
Segmentation Analysis
The global blood collection market is segmented by technique, test type, product and service, and end-user.
By technique, it is segmented into massively parallel sequencing, assay-based techniques, PCR-based and microarray technique, and others.
By test type, it is segmented into antigen typing, HLA typing, ABO blood tests, cross-matching tests, and antibody screening.
By product and service, it is segmented into instruments, consumables, services, blood bank saline, antisera reagents, anti-human globulin reagents, red blood cell reagents, and others.
By end-user, it is segmented into clinical laboratories, blood banks, hospitals, and others.
Regional Analysis
Europe, the Americas, Asia Pacific (APAC), and the Middle East & Africa (MEA) are regions covered in the blood group typing market report.
The Americas is projected to dominate the global market due to large number of blood donations, rise in organ transplants, rising prevalence of chronic diseases, well-developed healthcare infrastructure, and reimbursement schemes for surgeries. According to the National Kidney Foundation in 2016, close to 121,678 patients in the U.S. were on the waiting list for organs.
Europe can assume the second position in the global market till 2022. Rising prevalence of hematological disorders and cases of blood cancer can collectively drive the regional market demand. According to the Office for National Statistics, nearly 8,208 people were diagnosed with leukemia.
The APAC region is predicted to exhibit experience growth at a relative fast pace due to the uptick in blood disorders, rising prevalence of chronic diseases, and continuously developing economies.
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