Blood Screening Market Size is Expected to Reach $2.55 Billion by 2019

Date: 2015-08-20

“The blood screening market size is expected to reach $2.55 billion by 2019 from $1.5 billion in 2014, at a CAGR of 10.4%. This market is categorized on the basis of products and services, technologies, end users, and regions. On the basis of products and services, the blood screening market is categorized into instruments (hardware), reagents, and software and services. The reagents segment accounted for the largest share of the blood screening market and is expected to grow at the highest CAGR in the coming five years. The increasing adoption rate of NAT, rising number of blood donations, disposable nature of reagents, and growing demand of blood for transfusion are driving the growth of this segment.

The major factors contributing to the growth of the blood screening market include increasing number of blood donations and blood donors, increasing awareness regarding the safety of donated blood, increasing patient affordability, and increasing demand of donated blood. Furthermore, increasing adoption of NAT by governments of various countries is another major factor providing impetus for growth of this market. For instance, in 2014, the Japanese Red Cross entered into an agreement with Grifols (Spain) for nucleic acid testing (NAT) for the total blood donated in Japan. This agreement is expected to aid the growth of the blood screening market during the forecast period.
Apart from comprehensive regional and product analysis and market sizing, the report also provides a competitive landscape that covers the growth strategies adopted by industry players over the last three years. In addition, the company profiles comprise basic views on the key players in the blood screening market and product portfolios, developments, and strategies adopted by market players to maintain and increase their market shares in the near future. The above-mentioned market research data, current market size, and forecast of future trends will help key players and new entrants to make the necessary decisions regarding product offerings, regional focus, change in strategic approach, R&D investments for innovations in products and technologies, and levels of output in order to remain successful.”

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