Blood Screening Industry Growth, Development and Demand Forecast to 2030

Blood is life, but it can also be death, if the blood of an incorrect group is transfused, or even if the transfused blood of the correct group has mutations or an infection. Whole blood and its individual components (red and white blood cells, plasma, and platelets) are given from one person to another for a variety of reasons, such as to make up for rapid blood loss or replace the infected or septic blood with fresh one.

Hence, with the rising awareness on blood donation, P&S Intelligence expects the blood screening market value to increase from $2,402.3 million in 2019 at a CAGR of 8.1% over the forecast period (2020–2030).

Before being given to someone, the blood is carefully scrutinized for the group and rhesus type, infections, and mutations, so the recipient doesn’t develop a health issue because of tainted blood. As per a June 2020 article by the World Health Organization (WHO), 118.5 million donations are collected globally each year.

Apart from before transfusion, the blood is also screened for diagnostic purposes, wherein the practice is termed hematology. A blood test is one of the first steps in diagnosis, based on which the doctor may order further tests, such as radiology scans and biopsies. Since the blood circulates throughout the body, it is full of enzymes, minerals, hormones, and other liquids found in different organs and tissues, which is why blood tests are so widely performed. Complete blood count (CBC), lipid profile, kidney function test (KFT), liver function test (LFT), and blood glucose count are some of the most-commonly performed blood tests.

Download sample pages of this report: https://www.psmarketresearch.com/market-analysis/blood-screening-market/report-sample

Therefore, the demand for the various reagents and kits, software and services, and instruments used by blood screening centers is rising. Among these, reagents and kits dominate the product type segment of the blood screening market because they are consumables, which means their stocks dwindle with regular usage. As a result, they need to be procured often, unlike instruments and software, which are procured once in a long time. Further, the demand for blood screening reagents and kits has been high during this COVID-19 pandemic.

With the rising number of patients, the volume of blood tests for diagnosis has risen massively. As a result, life sciences companies have come up with more-advanced and -effective blood tests for the coronavirus. Moreover, even though the rate of the spread of the infection has slowed down in 2021, the number of patients is still increasing. Further, the virus is continuously evolving, with Delta and Omicron the latest variants to be causing havoc. Therefore, blood test software, kits, reagents, and instruments might have to be further advanced to detect the new variants.

This is a key reason North America has been the largest blood screening market in the world till now. The U.S. has a high prevalence of sexually transmitted diseases, including syphilis, herpes simplex virus, chlamydia, gonorrhea, trichomoniasis, and HIV-AIDS. As a result, blood screening procedures for diagnosis and before transfusion are widely carried out in the region. Additionally, the U.S. has accounted for the highest COVID-19 case count, which has propelled blood testing activities.

In the coming years, the demand for the products used for blood screening will rise the fastest in Asia-Pacific (APAC) due to its large population. Thus, the number of people with health issues, including diabetes, cancer, heart diseases, and hepatitis, is really high here. Further, India has one of the largest populations of AIDS patients, which is driving blood screening activities. Similarly, the blood screening volume is surging in the region with the increasing number of people donating blood.

Hence, with the rising prevalence of diseases and soaring awareness on blood donation, the demand for products used for blood screening is burgeoning.

About P&S Intelligence

P&S Intelligence provides market research and consulting services to a vast array of industries across the world. As an enterprising research and consulting company, P&S believes in providing thorough insights on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness. P&S keeps the interest of its clients at heart, which is why the insights we provide are both honest and accurate. Our long list of satisfied clients includes entry-level firms as well as multi-million-dollar businesses and government agencies.