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:
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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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:
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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)
Technique Outlook (Revenue, USD Billion; 2018-2028)
Test Type Outlook (Revenue, USD Billion; 2018-2028)
End-use Outlook (Revenue, USD Billion; 2018-2028)
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:
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