Blood Group Typing Market Size To Reach $3.44 Billion By 2026

October 2019 | Report Format: Electronic (PDF)

The global blood group typing market size is anticipated to reach USD 3.44 billion by 2026, according to a new report by Grand View Research. It is expected to expand at a CAGR of 9.7% during the forecast period. Factors, such as rising usage of blood group typing in forensic sciences and prenatal testing, increasing number of blood transfusions due to number of road accidents, and growing demand for blood and associated products are projected to drive the growth.

Blood group typing determines and identifies the O, A, B, and AB blood groups with the help of laboratory tests. The test is mandatory before transfusion as it enables checking compatibility of the blood types of the donor and the recipient along with determining the Rh factor. These tests are also performed to determine Hemolytic Disease of the Newborn (HDN) in pregnant women, which is anticipated to further drive the growth.

Consumables dominated the product segment in 2018 and is expected to witness significant growth over the forecast period due to the increase in surgical procedures, such as organ transplantation. Factors, such as increasing use of serological fluids and reagents in laboratories and high blood donation rates are anticipated to further fuel the segment growth. North America held the largest share of the global blood group testing market in 2018. Asia Pacific is anticipated to register the fastest CAGR during the forecast period.

Lack of awareness, proper blood service infrastructure, and skilled professionals, as well as the risk of transmissible diseases such as HIV and hepatitis B are some of the factors that may impede the growth of the market for blood group testing.

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https://www.grandviewresearch.com/industry-analysis/blood-group-typing-market

Further key findings from the study suggest:

PCR-based and microarray technique segment is expected to register the fastest CAGR during the forecast period, due to increasing R&D activities focused on antibody-antigen interactions coupled with high prevalence of chronic diseases
Consumables segment held the largest market share in 2018 among the products due to increase in number of transfusions and surgical procedures involving organ transplants
Asia Pacific is projected to exhibit the fastest CAGR during the forecast period, attributed to the factors such as rising per capita healthcare expenditure, prevalence of chronic diseases, and improving healthcare infrastructure
Key players of operating in the blood group typing market include Grifols, S.A.;Bio-Rad Laboratories, Inc.;Merck KGaA; Immucor, Inc.; Novacyt Group; Danaher Corporation; Agena Bioscience, Inc.; Ortho Clinical Diagnostics; and Quotient, Ltd

Grand View Research has segmented the global blood group typing market report on the basis of product, technique, test type, and region:

Blood Group Testing Product Outlook (Revenue, USD Million, 2015 - 2026)