COVID 19 Impacts on the Global Blood Screening Market; MRFR Reveals Insights for 2018-2023

Blood Screening Market: By Technology (Nucleic Acid Amplification Test, Enzyme-Linked Immunosorbent Assay, Next-Generation Sequencing), By Product and Services (Reagents, Instruments) and End User (Hospitals and Clinics) — Global Forecast till 2023

The global blood screening market is a continually growing space. The market growth attributes to the rising blood screening procedures conducted for the diagnosis of various chronic diseases such as HIV, HCV, HBV, malaria, syphilis, and other infectious diseases. Besides, increasing screening tests conducted on the donated blood to lessen the risk of transfusion-transmitted infections (TTIs) foster the market growth excellently. Moreover, raising awareness about the importance of blood tests escalates market growth.

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According to Market Research Future (MRFR), the global blood screening market is estimated to grow at 9.8% CAGR during the forecast period (2018–2023). Due to the complexity of Coronaviruses, numbers of blood screening tests are increasing. Besides, the immune biomarker test used in the treatment of COVID 19 to identify and quantify the human immune system’s response to the virus influence the growth of the market. Also, increasing numbers of blood donations and blood donors is a significant growth driver of the market.

Additionally, increasing per capita healthcare expenditures and the adoption of nucleic acid test (NAT) for blood screening, boost the growth of the market. The introduction of pathogen reduction technology and the demand of multiplex tests propel the market growth. Conversely, factors such as the high costs and lack of regulations for NAT devices are estimated to restrict the growth of the market. Also, the advent of alternative technologies limits the market growth.

Global Blood Screening Market – Segments
The report is segmented into four dynamics;
By Technology : Nucleic Acid Amplification Test (NAT), Enzyme-Linked Immunosorbent Assay (ELISA), Rapid Tests, Next-Generation Sequencing (NGS), Western Blotting, among others.
By Product and Services: Reagent and kits, Enzymes & Polymerases, Standards & Controls, Probes & Primers, Buffers, Nucleotides, Solutions, Immunosorbents, Instruments, Rental Purchase, Software & services, and others.
By End-Users : Hospitals, Clinics, Research Institutes & Academic Centers, Blood Banks, and others.
By Regions : Americas, Europe, Asia Pacific, and the Rest-of-the-World (RoW).

Global Blood Screening Market – Regional Analysis
North America dominates the global blood screening market. Market growth attributes to the early adoption of advanced medical technologies and continuous development by companies operating into drugs. Besides, factors such as large numbers of industry players and well-developed healthcare sectors in the region boost market growth.
Moreover, the increasing occurrence of chronic diseases and the high per capita healthcare expenditures propel the regional market growth. The North American blood screening market is projected to retain its dominance over the global market throughout the assessment period.

Europe stands second in the global blood screening market. The market is driven by the rise in research expenses and the advancement of technology. Moreover, factors such as increasing health concerns and the demand for innovative and effective therapies boost the regional market growth. In Europe, the blood screening market is growing due to the well-spread awareness for blood screening tests and initiatives undertaken by private and public organizations.

Also, the growing prevalence of various hematological disorders and chronic diseases pushes regional market growth. Furthermore, the presence of prominent market players in the region impacts market growth positively. The European blood screening market is estimated to create a substantial revenue pocket during the forecast period.

The Asia pacific blood screening market has emerged as a promising market, globally. Factors such as the increasing number of blood transfusion procedures, increasing government initiatives, and technological advances drive the regional market growth. Moreover, the rising adoption rate of blood screening tests and increasing healthcare expenditure of demographics foster the growth of the market. China and India are hotspots for investment opportunities due to the growing numbers of diagnosis, treatment, and research activities, healthcare modernization, and quality improvisations.

Global Blood Screening Market – Competitive Analysis
Fiercely competitive, the blood screening market appears fragmented due to the presence of several well-established players. Through the strategic initiatives such as mergers & acquisitions, collaboration, expansion, and product & technology launch, these players try to gain a larger competitive share in the market.
Major Players:
Players leading the global blood screening market are F. Hoffmann-La Roche, Grifols, Abbott Laboratories, Bio-Rad Laboratories, Inc., Biomérieux, Siemens Healthineers (A Subsidiary of Siemens AG), Thermo Fisher Scientific, Inc., Ortho Clinical Diagnostics, Inc., Beckman Coulter (A Subsidiary of Danaher Corporation), and Becton, Dickinson, and Company, among others.
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Industry, Innovation & Related News
Jun 15, 2020 ---- Cambridge Bioscience, a biotechnology company, announced filling a new patent for the company’s innovative FSIF (Full Spectrum Interferon Fingerprint) COVID-19 test. While the technology behind this newly filed patent will serve as an accurate diagnostic for COVID-19, its real value is the ability to stratify patients into degrees of disease severity, as noted in the pictured grid.

Jun 10, 2020 ---- Arkansas Blood Institute, a state governed blood center in the US state, announced free COVID-19 antibody tests for all blood donors. Arkansas Blood Institute is first to offer COVID-19 antibody screening service to donors. The testing initiative is provided at all donor centers and mobile blood drives. This comes in the wake of an immediate need for blood donations due to an unprecedented number of blood drive cancellations.
NOTE: Our team of researchers are studying Covid19 and its impact on various industry verticals and wherever required we will be considering covid19 footprints for a better analysis of markets and industries. Cordially get in touch for more details.

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