Blood Transfusion Diagnostics Market to Attain a Valuation of US$ 7.7 Billion by 2034, Rising Global Prevalence of Blood Disorders Drives Growth: Transparency Market Research

The demand for safe transfusion blood is driven by the rising global prevalence of blood disorders, increased incidents of road accidents and surgeries, and the growing geriatric population.

WILMINGTON, Del., July 25, 2024 /PRNewswire/ -- The global blood transfusion diagnostics market stood at US$ 4.6 billion in 2023, and the global market is projected to reach US$ 7.7 billion in 2034. The global blood transfusion diagnostics market is anticipated to expand at a CAGR of 4.9% between 2024 and 2034.

The rising global prevalence of blood disorders, such as anemia, hemophilia, and leukemia, necessitates the need for accurate and reliable diagnostic tests to assess blood compatibility and identify potential risks associated with transfusions.

Additionally, the surge in road accidents and surgical procedures further drives the demand for blood transfusions, emphasizing the importance of stringent screening and compatibility testing to prevent adverse reactions and ensure patient safety.

Moreover, the growing geriatric population, who are more prone to chronic illnesses and require frequent medical interventions, contributes to the escalating demand for blood transfusion diagnostics.

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Elderly individuals often require blood transfusions as part of their treatment regimens, underscoring the critical role of diagnostic tests in assessing blood suitability and minimizing transfusion-related complications.

Furthermore, the increasing focus on collaborations and partnerships between healthcare entities and research institutions plays a pivotal role in expanding the adoption of advanced blood transfusion diagnostics.

These collaborations aim to enhance diagnostic technologies, develop innovative testing methodologies, and streamline transfusion protocols to improve patient outcomes and ensure the safety and efficacy of blood transfusions.

Technological advancements in blood transfusion diagnostics, such as the development of automated platforms, molecular testing techniques, and point-of-care devices, further drive market growth by offering rapid, accurate, and cost-effective testing solutions.

The innovative technologies enable healthcare professionals to perform comprehensive blood compatibility assessments, detect infectious agents, and identify potential immunological reactions more efficiently, thereby facilitating timely and informed transfusion decisions.

The blood transfusion diagnostics market is poised for continued expansion as the demand for safe and effective transfusion practices escalates worldwide. With ongoing advancements in diagnostic technologies and increased collaboration efforts within the healthcare industry, the market is expected to witness significant growth opportunities in the coming years, ensuring the delivery of high-quality transfusion services and improving patient care outcomes.

Blood Transfusion Diagnostics Market Report Scope:

Key Takeaways of Market Report

• Global blood transfusion diagnostics market to generate absolute dollar opportunity worth US$ 7.7 billion until 2034.
• Global blood transfusion diagnostics market is valued at US$ 4.6 billion in 2023.
• North America is forecasted to hold the largest market share.

Global Blood Transfusion Diagnostics Market: Growth Drivers

• Technological advancements in blood donor management systems, particularly the emergence of automated systems, have revolutionized workflows, enhancing efficiency and accuracy.
• Donor recruitment and engagement technologies, including innovative software and mobile applications, play a pivotal role in reaching potential donors, scheduling appointments, sending reminders, and providing post-donation care instructions. This improves donor engagement, enhances the overall donor experience, and boosts donor retention rates.
• The increasing prevalence of blood-related disorders like leukemia, thalassemia, sickle cell anemia, and hemophilia drives the demand for safe transfusion blood, fueling the growth of the blood transfusion diagnostics market.

Global Blood Transfusion Diagnostics Market: Regional Landscape

• North America held a dominant share in the blood transfusion diagnostics market, driven by advancements in healthcare infrastructure, increased awareness, and augmented healthcare finances. In the United States, companies like Roche are launching innovative transfusion diagnostics solutions, such as the cobas Malaria test, FDA-approved in March 2024, to reduce the risk of malarial infection from transfused blood products.
• In the European Union, the rising prevalence of diseases like sickle cell anemia is spurring efforts by medical device manufacturers and the government to improve transfusion blood availability, thereby driving market growth in Europe.

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Global Blood Transfusion Diagnostics Market: Key Players

• In 2023, Prestige Diagnostics introduced a cutting-edge blood transfusion diagnostics platform designed to enhance the accuracy and efficiency of blood compatibility testing. This innovative solution incorporates advanced molecular testing techniques and automated workflows to streamline the transfusion process, ensuring compatibility and safety for patients receiving blood transfusions.
• In 2023, Atlas Medical launched a revolutionary point-of-care blood transfusion diagnostics device capable of rapid and reliable testing for blood type compatibility and infectious diseases. This portable device enables healthcare professionals to perform on-site testing with minimal turnaround time, facilitating timely and informed transfusion decisions and improving patient outcomes in diverse healthcare settings.

Global Blood Transfusion Diagnostics Market: Segmentation

Product Type

• Instruments
  • Blood Grouping Instruments
  • Others
• Kits and Reagents
  • Blood Grouping Kits and Reagents
  • Others

Application

• Blood Grouping
  • ABO Blood Grouping
  • Rh Blood Grouping
  • Red Blood Cell Antibody Screening
  • Extended Phenotyping
  • Cross Matching Tests
• Disease Screening
  • Molecular Disease Screening
  • Serological Disease Screening

End User

• Blood Banks
• Blood Donation/Transfusion Centers
• Others

Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

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