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Blood Group Typing Market is Projected to be Worth US$ 3,556.0 Mn by 2026

The global blood group typing market was valued at US$ 1,500.0 Mn in 2017 and is projected to reach US$ 3,556.0 Mn by 2026, expanding at a CAGR of 10.3% from 2018 to 2026.

Albany NY, 12 October 2018 -- The global blood group typing market was valued at US$ 1,500.0 Mn in 2017 and is projected to reach US$ 3,556.0 Mn by 2026, expanding at a CAGR of 10.3% from 2018 to 2026.

Blood Group Typing Market - Snapshot

The global blood group typing market is driven by the rise in prevalence of major chronic diseases resulting in increase in blood transfusion rate. The global market was valued at US$ 1,500.0 Mn in 2017 and is projected to reach US$ 3,556.0 Mn by 2026, expanding at a CAGR of 10.3% from 2018 to 2026. Expansion of the market is attributed to the increase in demand for kits & reagents for blood group typing tests and increase in rate of adoption of technologically advanced products.

Blood grouping is a procedure to determine a person’s blood type by serologic testing of the blood sample. It is commonly referred to as blood typing. Before each transfusion of blood, compatibility testing for matching blood groups between donor’s and patient's blood sample is performed.

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Various blood typing methods are employed by health care providers including GEL method, slide method, tube method, and allo-antibody testing. Blood group typing products include instruments, consumables, and services. Rise in demand for blood transfusions each year, owing to large patient population suffering from chronic diseases and rapid technological advancement and automation in blood grouping and screening instruments are boosting the global blood group typing market. Moreover, increase in government initiatives and implementation of policies regarding blood safety and availability are expected to fuel the global blood group typing market.

The global blood group typing market can be segmented based on product type, technique, test, end-user, and region. In terms of product type, the global market can be bifurcated into instruments, consumables, and services. The consumables product segment accounted for a major share of the global market, in terms of revenue, in 2017. The segment is projected to expand at a significant growth rate during the forecast period due to introduction of advanced instruments and kits.

Based on technique, the global blood group typing market has been classified into PCR-based, microarray-based, assay-based technique, and massively parallel technique. The PCR-based segment dominated the global market in 2017, and the trend is likely to continue during the forecast period. This is attributed to the increase in preference for PCR-based technique for blood grouping. Based on test, this market has been segregated into antibody screening, HLA typing, ABO blood test, cross matching test, and antigen typing. In terms of end-user, the global market has been divided into hospitals, clinical laboratories, blood bank, and others.

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In terms of geography, the global blood group typing market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominated the global market and is projected to gain market share by the end of 2026. The market in North America is driven by high percentage of active and voluntary blood donors in the U.S., early availability of advanced technologies, and higher penetration of health care services across the region. The blood group typing market in Asia Pacific is projected to expand at a rapid pace during the forecast period. China dominated the blood group typing market in the region. The market in China is expected to expand at a high CAGR during the forecast period.

Major players operating in the global blood group typing market include Grifols, S. A., Bio-Rad Laboratories, Inc., Merck KGaA, Ortho Clinical Diagnostics, QUOTIENT LIMITED, BAG Health Care GmbH, Immucor, Inc., Beckman Coulter, Inc. (Danaher Corporation), Agena Bioscience, Inc., Rapid Labs Ltd, and Novacyt Group. These companies are adopting the strategy of acquisition and collaboration in order to strengthen their position in the global market.

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Submitted by hawer on Friday, 12 October 2018 at 7:14 PM
Category: Health Care & Medical
 
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