The global blood group typing market size is expected to reach USD 6.18 Billion by 2028 at a CAGR of 10.1%, according to the latest report by Reports and Data. Increasing number of blood transfusion procedures, rising demand for prenatal testing, and growing need for blood and blood products due to increasing number of surgeries are key factors expected to drive market revenue growth over the forecast period. In addition, increasing number of road accidents and traumatic injuries across the globe have boosted need for blood transfusion in critical patients and this is also expected to continue to support market revenue growth going ahead.
Blood group typing is a laboratory procedure carried out to identify and determine blood type of an individual. Blood group is classified into one of the designated classes, namely A, B, AB, and O. Blood group typing is crucial for blood transfusion to ensure donor blood compatibility with recipient, and is also used to determine presence of the Rh factor. Blood groups are based on the presence or absence of proteins called antigens on the surface of red blood cells. Blood group typing has also been widely used for parentage testing to solve issues related to inheritance, infant mix-up, and traditional paternity cases. In addition, blood group typing also has applications in forensic laboratories. Blood typing is also imperative during pregnancy to screen and prevent chances of hemolytic anemia in newborns. This has contributed to growing demand for prenatal testing and is expected to further drive market growth going ahead.
Increasing accidents and trauma cases worldwide have boosted demand for blood products owing to growing need for blood transfusion in critical patients. In addition, extensive R&D activities by key players to develop innovative and advanced automated techniques that reduce turn-around time and improve accuracy is another key factor contributing to revenue growth of the market. However, lack of skilled professionals, reduction in blood donation drives due to COVID-19 pandemic, and lack proper healthcare facilities are key factors expected to restrain market growth to a certain extent over the forecast period.
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Key Offerings of the Global Blood Group Typing Market Report:
- Deep insights into the Blood Group Typing market landscape
- Key details about the regional segmentation of the Blood Group Typing market
- Analysis of the crucial market trends with regards to both current and emerging trends
- Extensive overview of the key manufacturers and prominent players of the industry
- Comprehensive study of the market segmentation and recent developments
Market Dynamics:
Ongoing efforts of key players to develop advanced therapeutics and drugs, rapid adoption of advanced technologies such as artificial intelligence, additive manufacturing, ad blockchain technologies, among others, and growing focus on precision medicine have led to rapid changes in the pharma and healthcare industry. Legalization and acceptance of medical marijuana, rising focus on connected devices in healthcare sector, and popularization of beyond-the-pill have further revolutionized the healthcare industry. The emergence of COVID-19 pandemic has played a crucial role in the progress of healthcare industry with rapid shift in focus on preventive healthcare, increasing awareness about health and wellness, growth of telemedicine and teleconsultation, and rapid adoption of advanced technologies to cater to the growing patient pool.
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Competitive Landscape:
The report offers a comprehensive overview of the competitive landscape of the market to offer key insights about the key companies operating in the market. The section discusses in detail the initiatives and innovations adopted by the key players to gain a strong foothold in the market. It also provides insights into mergers and acquisitions, joint ventures, collaborations, partnerships, and agreements, among others to offer a better understanding of the market.
Key companies in the market include:
Bio-Rad Laboratories, Inc., Grifols, S.A., Immucor, Inc., Ortho Clinical Diagnostics, Inc., Quotient, Ltd., Novacyt Group, BAG Healthcare GmbH, Rapid Labs, Day medical SA, DIAGAST, and AXO Science.
Some Key Highlights From the Report:
- Consumables segment is expected to register robust revenue CAGR over the forecast period owing to growing demand for reagents and kits in laboratories, increasing rate of blood donations, rising number of surgeries performed, and development of advanced test reagents and kits.
- PCR-based and microarray technique segment accounted for largest revenue share in 2020 and is expected to register significant revenue growth over the forecast period. Growth can be attributed to increasing R&D to understand antibody-antigen interaction, growing burden of chronic diseases such as sickle cell anemia, and rising application of PCR-based techniques to screen for rare blood types.
- Increasing demand for early screening and diagnosis, rising burden of chronic diseases, and growing need for safe blood transfusion are key factors contributing to revenue growth of the antibody screening segment.
- Hospitals segment is expected to account for significantly large revenue share in the global market over the forecast period owing to increasing awareness about blood donation and its importance, rising need for blood and blood products during transplant surgeries, and increasing number of critical accidents necessitating blood transfusion.
- North America is expected to account for largest market share in terms of revenue over the forecast period, attributable to growing number of blood transfusions and organ transplant procedures, rising demand for blood group typing for prenatal testing, and favorable reimbursement scenario in countries in the region.
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For the purpose of this report, Reports and Data has segmented the blood group typing market based on product & service, technique, test type, end-use, and region:
Product & Service Outlook (Revenue, USD Billion; 2018-2028)
- Instruments
- Consumables
- Antisera Reagents
- Anti-human globulin Reagents
- Red Blood Cells Reagents
- Blood Bank Saline
- Services
Technique Outlook (Revenue, USD Billion; 2018-2028)
- PCR-based and Microarray Techniques
- Assay-based Techniques
- Massively Parallel Sequencing Techniques
- Others
Test Type Outlook (Revenue, USD Billion; 2018-2028)
- Antibody Screening
- HLA Typing
- Cross-matching Tests
- ABO Blood Tests
- Antigen Typing
End-use Outlook (Revenue, USD Billion; 2018-2028)
- Hospitals
- Blood Banks
- Clinical Laboratories
- Other
Regional Analysis:
The section covers a comprehensive analysis of key regions for production and consumption ratio, import/export analysis, supply and demand dynamics, regional trends and demands, and presence of prominent players in each region. The regional analysis segments also offers a country-wise analysis to offer panoramic view of the market and help investors, clients, stakeholders, and businesses better understand the opportunities and growth scope of the Blood Group Typing market.
The regional analysis covers:
- North America (U.S., Canada, Mexico)
- Europe (U.K., Italy, Germany, France, Rest of Europe)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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