Global Blood Transfusion Diagnostics Market to Witness CAGR of 5.87% from 2023 – 2031, Projected to Reach US$ 6.68 Billion by 2031

WILMINGTON, DELAWARE, UNITED STATES, November 27, 2023 /EINPresswire.com/ -- Global Blood Transfusion Diagnostics Market Synopsis
Blood transfusion diagnostics ensure safe blood compatibility between donors and recipients, encompassing ABO and Rh typing to match blood groups and prevent immune reactions. Cross-matching tests validate compatibility, while screening for diseases like HIV, hepatitis, and syphilis in donor blood prevents health risks. This process safeguards recipients' well-being during transfusions, minimizing complications and saving lives.

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The blood transfusion diagnostics market witnessed a shift pre- and post-COVID-19. Before the pandemic, it steadily grew due to the consistent demand for blood testing and screening. However, with the pandemic's arrival, the market dynamics evolved. While routine healthcare procedures were disrupted, the importance of reliable blood compatibility and disease screening became even more pronounced. Blood Transfusion Diagnostics played a critical role in ensuring safe transfusions and preventing infections. This underscored the market's significance in healthcare resilience. As the world navigates the aftermath, the market is expected to embrace innovative solutions, amalgamating safety measures and advanced technologies to continue delivering crucial diagnostic services.

Global Blood Transfusion Diagnostics Market Growth Boosting Factors:
• Advancements in Medical Technology: The blood transfusion diagnostics market is driven by rapid technological progress. Surveys among healthcare professionals indicate a growing reliance on sophisticated diagnostic tools for accurate blood grouping, compatibility testing, and disease screening. The adoption of automation and molecular techniques has enhanced the precision and efficiency of these diagnostics. For instance, data from healthcare databases highlights a significant increase in the use of advanced automated platforms for blood typing and cross-matching, reducing human errors and expediting results.
• Increasing Demand for Safe Blood Transfusions: The rising demand for safe and effective blood transfusions propels market growth. Regulatory databases underscore stringent safety regulations that mandate thorough blood compatibility testing to prevent adverse reactions. Surveys among healthcare practitioners reveal a consistent need for reliable diagnostics to ensure blood compatibility, especially during emergencies and surgeries. The World Health Organization reports a substantial increase in blood transfusion requirements due to medical procedures, underscoring the significance of accurate diagnostics in meeting these demands.
• Growing Focus on Disease Screening: The blood transfusion diagnostics market benefits from an increasing emphasis on disease screening within the healthcare landscape. Surveys indicate that healthcare practitioners are recognizing the importance of early disease detection through blood screening. Databases from healthcare organizations highlight the expanding application of blood transfusion diagnostics for infectious disease screening, contributing to patient safety and preventive healthcare measures. This trend aligns with the global shift towards proactive health management, as seen in rising awareness campaigns and health initiatives promoting regular screenings.

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Global Blood Transfusion Diagnostics Market Key Insights & Developments:
• The increasing use of point-of-care (POC) testing is one of the most significant trends in the blood transfusion diagnostics market. POC tests are performed at the patient's bedside, which can help to improve patient outcomes by reducing the time to diagnosis and treatment. Moreover, the development of new blood typing and compatibility testing methods is another key trend in the market. These methods are more accurate and efficient than traditional methods, and they can help to reduce the risk of transfusion reactions. Furthermore, the increasing focus on personalized medicine is also driving the growth of the blood transfusion diagnostics market. Personalized medicine involves tailoring treatment to the individual patient's needs, and blood transfusion diagnostics can play a role in this by helping to identify the best blood type and compatibility match for each patient.
• The Asia Pacific region exhibits highest growth rate in the blood transfusion diagnostics market, attributed to a combination of increasing healthcare investments, modernization of medical facilities, and growing awareness of blood safety and disease prevention. Healthcare databases and reports from industry associations highlight substantial investments in healthcare infrastructure across Asia Pacific. Governments and private entities are directing resources towards upgrading blood banks, diagnostic facilities, and healthcare services.

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Global Blood Transfusion Diagnostics Market: Competitive Scenario and Key Developments
o Abbott
o Beckman Coulter, Inc.
o BIOMERIEUX
o Bio-Rad Laboratories, Inc.
o F. Hoffmann-La Roche Ltd
o Grifols, S.A.
o MedGenome
o Ortho Clinical Diagnostics
o Quotient Suisse SA
o Siemens Healthcare Private Limited
o Other Industry Participants

In June 2023, Quotient announced that Alba by Quotient was now available in the Netherlands and Sweden as well. Alba by Quotient encompasses a range of premium blood bank reagents, ensuring top-notch quality.
In August 2022, QuidelOrtho became part of the Alliance for a Robust Blood Supply initiated by the Association for the Advancement of Blood & Biotherapies (AABB). The AABB's advocacy campaign aids in tackling the blood supply shortage in the US.

Global Blood Transfusion Diagnostics Market:
By Product
o Reagents & kits
o Instruments
o Others

By Application
o Blood Grouping
o Disease Screening
• Serological disease screening
• Molecular disease screening

By End-use
o Hospitals
o Blood Banks
o Diagnostic Laboratories
o Others

By Region
o North America (U.S., Canada, Mexico, Rest of North America)
o Europe (France, The UK, Spain, Germany, Italy, Nordic Countries (Denmark, Finland, Iceland, Sweden, Norway), Benelux Union (Belgium, The Netherlands, Luxembourg), Rest of Europe
o Asia Pacific (China, Japan, India, New Zealand, Australia, South Korea, Southeast Asia (Indonesia, Thailand, Malaysia, Singapore, Rest of Southeast Asia), Rest of Asia Pacific)
o Middle East & Africa (Saudi Arabia, UAE, Egypt, Kuwait, South Africa, Rest of Middle East & Africa)
o Latin America (Brazil, Argentina, Rest of Latin America)

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The Niche Research
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Jay Reynolds
The Niche Research
+ +1 302-232-5106
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