Major players in the blood transfusion diagnostics market are BAG Health Care GmbH, Grifols, Bio-Rad Laboratories, Inc. , Abbott Laboratories and Immucor Inc. The global blood transfusion diagnostics market is expected to grow from $3.
New York, Sept. 28, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Blood Transfusion Diagnostics Global Market Report 2021: COVID-19 Growth And Change To 2030" - https://www.reportlinker.com/p06151570/?utm_source=GNW
82 billion in 2020 to $4.18 billion in 2021 at a compound annual growth rate (CAGR) of 9.4%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $5.28 billion in 2025 at a CAGR of 6%.
The blood transfusion diagnostics market consists of sales of blood transfusion diagnostics devices and related services.The related services here includes only installation and maintenance services offered by equipment manufacturers.
Blood transfusion diagnostics are the devices which used to conduct tests before transfusion of blood from donor recipient such as blood grouping disease screening.
The blood transfusion diagnostics market covered in this report is segmented by type into instruments and kits, reagents, others. It is also segmented by end user into hospitals, diagnostic laboratories, blood banks, plasma fractionation companies; by technology into western blot, ELISA, nucleic acid amplification, fluorescence assay, rapid test and by application into blood grouping, disease screening.
The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Developing and underdeveloped countries lack adequate blood banks, proper medical equipment for blood transfusion, adequate conditions for the storage of blood and low supply for a high demand of blood.Hospitals are not equipped with proper amenities that help provide hygienic and safe transfusions.
For example, according to a research conducted by IndiaSpend, around 1.18 million units of blood was wasted during storage in the form of discoloration, bacterial contamination and expiry due to outdating. The poor infrastructure hampers the growth of the blood transfusion diagnostic market.
The growing demand for advanced diagnostic measures and growing prevalence of infectious diseases associated with pathogens such as bacteria & viruses increase the preference for nucleic acid amplification testing (NAAT/NAT) to increase blood safety, improve efficiency and reduce turnaround time of the results.NAT is a technique that helps detect a particular nucleic acid, virus, or bacteria which acts as a pathogen in blood, tissue, or urine.
NAT is highly sensitive and specific for viral nucleic acids and amplifies the region of targeted viral DNA and detects them earlier than the other traditional methods and narrows the period of infectious diseases. For example, XCRP Diagnostic Inc. and Luminex Corporations entered into a licensing agreement of XCR Diagnostic’s Xtreme Chain Reaction Nucleic Acid Amplification Technology. In this deal, Luminex got the exclusive rights to use the XCR Diagnostic’s NAAT technology for their future molecular diagnostic portfolio.
Patients undergoing surgical procedures need blood transfusion to replace the lost blood during the procedure.Blood transfusion diagnostics are used during the procedures to screen the blood before transferring it to the patient, and will otherwise increases incidence of infectious disease.
According to Organization for Economic Co-operation and Development (OCED) in the UK, there were 491,604 surgical procedures in 2016 compared to 354,870 in 2006, a 38% increase. This increase in number of procedures will thereby drive the need for blood transfusion diagnostics.
The blood transfusion diagnostics market is highly regulated by governing bodies such as USFDA (the USA Food and Drug Administration), and Medicines and Healthcare products Agency (MHRA).For instance, the manufacturers and service providers in the USA must comply with the Center for Biologics Evaluation and Research (CBER) Regulations that have been published in the first chapter title 21 of Code of Federal Regulations (CFR).
Part 600 of CFR 21 primarily focuses on the established standards like retention samples conditions, temperature to be maintained during shipment, sterilization of equipment’s and role and duties of the inspector to inspect the laboratories. The regulation also allows the manufacturer to report any kind of deviation of their product from their intended purpose.
The countries covered in the market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
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