New York, NY -- (SBWIRE) -- 01/22/2021 -- The increasing incidence of infectious diseases and the rise in the number of blood donations is expected to drive the market for Blood Screening.

Market Size – USD 1.87 Billion in 2019, Market Growth - CAGR of 12.7%, Market trends – Growing prevalence of new pathogens.

The global Blood Screening Market is forecast to reach USD 4.86 Billion by 2027, according to a new report by Reports and Data. The primary driving factors for the growth of the blood screening market is an increase in the prevalence of infectious diseases, rise in healthcare awareness, growth in the number of blood donations, and surge in NAT (nucleic acid amplification test).Moreover, support from the government for a better healthcare system and advancement in technology will propel the growth of the market. However, factors such as stringent regulatory approvals and lack of skilled professionals are hampering the industry's demand.

Blood screening is a method employed to detect markers of infection to prevent the release of blood components and infected blood for clinical study. Increasing incidence of infectious and chronic diseases, growing awareness regarding the deadly nature of these diseases and associated spike in the demand for test kits and other instruments is stimulating blood screening market trends. According to a recent study by Reports and Data, the Global Blood Screening Market size is estimated to reach USD 4.86 Billion from USD 1.87 Billion in 2019   at a growth rate of 12.7% through 2027.

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Some of the players profiled in the report are Danaher Corporation, Abbott Laboratories, Bio-Rad Laboratories, Inc., Becton, Dickinson and Company, F. Hoffmann-La Roche Ltd., Ortho-Clinical Diagnostics, Inc., Grifols, Siemens Healthcare GmbH, SOFINA S.A, and Thermo Fisher Scientific, Inc., among others.

Market Drivers

The blood screening market growth is driven by a surge in nucleic acid amplification test, growing prevalence of infectious diseases, growth in the number of blood donations, rise in number of blood banks and growing healthcare awareness among public. Favorable government initiatives advancement in medical technology and for a better healthcare system will bolster blood screening market growth. However, lack of skilled professionals and stringent regulatory approvals norms may hampering the industry's growth.

Further key findings from the report suggest

- The reagent and kits segment held a significant share owing to the accessibility of a wide range of reagents and the need for specific, reliable, and fast detection of blood screening. The growing demand for blood transfusion for the treatment of blood disorders contributed to the demand of the industry.
- Nucleic acid testing (NAT) is a kind of molecular method deployed for in cases such as blood donations to screen the blood so as to decrease the danger of TTIs (transfusion-transmitted infections) in the individual receiving the blood. The main application of the nucleic acid test is associated with detecting viral RNAs and DNAs in a blood sample.
- Hospitals held a larger market share due to the high number of cases recorded there. The segment is forecasted to grow with a CAGR of xx% during the forecast period.

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Product and Services Outlook (Revenue, USD Billion; 2017-2027)
- Reagents and Kits
- NAT Reagents and Kits
o Standards and Controls
o Buffers, Nucleotides, and Solutions
o Enzymes and Polymerases
o Probes and Primers
o Labeling and Detection Reagents
- ELISA Reagents and Kits
o Controls
o Substrates
o Immunosorbents
o Conjugates
o Sample Diluents and Wash Solutions
- Instruments
- Rental Purchase
- Outright Purchase
- Software and Services

Technology Outlook (Revenue, USD Billion; 2017-2027)
- ELISA
o Fluorescent immunoassay
o Chemiluminescent Immunoassay
o Colorimetric Immunoassay
- NAT
o Transcription-Mediated Amplification
o Real-time Polymerase Chain Reaction
- Western Blot Assays
- Rapid Tests
- NGS

End-User Outlook (Revenue, USD Billion; 2017-2027)
- Hospitals
- Blood Banks

Regional Outlook

North America dominated the blood screening market with the largest share of 34.2% 2019 and is expected to gain major traction through 2027. The dominance of the region can be attributed to the presence of established healthcare infrastructure, increasing spending on healthcare technologies, and higher investment in R&D. In addition, the growing prevalence of chronic diseases and increased emphasis on early diagnosis will supplement regional market share over the forecast period.

Market Segmentation by Regions:

North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

Key Point Summary of the Report:

The global Blood Screening market research report is an investigative study offering key insights into the latest growth trends, developments, technological and product advancements, and the research and development scenario. The report also covers the market aspects that directly influence the growth of the market. These features include strategies undertaken by the prominent players, their expansion tactics, and the product portfolios of the companies, and micro and macro-economic factors.

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The study also analyses the crucial market aspects, including R&D, product launches and brand promotions, mergers and acquisitions, collaborations, joint ventures, and the growth pattern on both regional and global levels. The report offers an in-depth evaluation of factors such as cost, capacity, rates of production and consumption, gross revenue, profit margin, demand and supply ratio, import/export, market share, market size, and market trends.

The Global Blood Screening Market includes relevant and verified information relating to the overall market, key players, and their market position and financial standing. The report utilizes advanced analytical tools such as SWOT analysis, Porter's Five Forces Analysis, investment return analysis, and feasibility analysis to offer a comprehensive view of the market position of the major players of the industry.

Key Coverage of the Blood Screening Market:

-Insightful information regarding the global Blood Screening market
-Identification of growth in various segments and sub-segments of the Blood Screening market
-Strategic recommendations for investment opportunities
-The report covers significant statistics related to the industry along with products, applications, price -analysis, demand & supply, and production and consumptions rate
-Emerging trends and current market segment analysis to help investors formulate new business strategies
-Accelerates the decision-making process through the availability of the drivers and limitations

Global Blood Screening Market: Table of Contents

Chapter 1. Market Synopsis

    1.1. Market Definition

    1.2. Research Scope & Premise

    1.3. Methodology

    1.4. Market Estimation Technique

Chapter 2. Executive Summary

    2.1. Summary Snapshot, 2018-2026

Chapter 3. Indicative Metrics

Chapter 4. Blood Screening Market Segmentation & Impact Analysis

Continued……….

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