Market Trends of Blood Group Typing Industry
Blood Banks are Expected to Witness Healthy Growth in Blood Group Typing Market Over the Forecast Period
The blood bank segment is anticipated to witness growth in the market owing to factors such as a steep rise in accidental cases, a high prevalence of hematologic diseases, and an increase in blood donation. For instance, as per the Qatar monthly statistics, the number of traffic accidents in August 2022 was 685, whereas in July 2022, it was 629. Hence, the increase in traffic accidents will likely need blood transfusions from the blood bank to compensate for the blood loss during the accident.
In addition, in the past few years, the burden of blood-borne diseases has also increased, coupled with the increasing prevalence of transfusion transmissible infection and surgeries, growing awareness about blood donation, and several government initiatives associated with blood donation, which are promoting the demand for blood banks segment and driving the overall market as it generates the need for blood group typing kits for diagnosis and treatment purpose.
For instance, in September 2022, Akhil Bhartiya Terapanth Yuvak Parishad (ABTYP), with 350 branches and a strength of more than 45000 members, launched a major Mega Blood Donation Drive in India. Also, the program planned to organize more than 2,000 camps and donate over 100 thousands units of blood across the globe. The Blood banks play a critical role by storing blood for future use. Also, blood banks carefully screen donated blood to keep blood safe. A high prevalence of blood donation and transfusion increases segment growth.
For instance, as per the Health Sciences Authority (HSA) Singapore 2024 update, the HSA collected 122.68 thousand whole blood and 8.37 thousand apheresis donations in 2023. As per the same source, Singapore's demand for blood in 2024 stands at 14 units per hour, translating to 325 units daily and a staggering 118.75 thousand units annually. As the number of blood donations increases, the donated blood stores in the blood bank increase the demand for the segment over the forecast period.
Thus, due to the increase in road accident cases and the rise in blood donation, the blood bank segment is anticipated to witness growth in the blood typing market over the forecast period.
North America is Anticipated to Witness a Growth in the Blood Group Typing Market Over the Forecast Period
North America is anticipated to witness growth in the market owing to factors such as an increase in the number of road accidents and the rising prevalence of chronic diseases. Moreover, as road fatalities and crashes rise, the need for blood group typing is set to surge, bolstering the demand for blood group typing services in the coming years.
Furthermore, the rise in demand for blood transfusion and initiatives for blood donation in North America drives the market's growth. For instance, Canadian Blood Services implemented a new donor screening approach. The approach eliminated the current three-month blanket donor deferral period for all men who have sex with men and instead screens all donors, regardless of gender or sexuality, for high-risk sexual behavior.
Similarly, in June 2022, BAPS Charities launched the ‘In the Joy of Others Blood Donation Campaign’ across Canada in partnership with Canadian Blood Services. The blood donation campaign ran in 14 cities across Canada throughout 2022 to collect more than 1,000 units of blood, plasma, and stem cells to serve thousands of people in need in hospitals across Canada. The Canadian Blood Services Stem Cell Registry also promotes the campaign to support patients further.
Furthermore, as per the January 2024 update by the American Red Cross, the authority reported a nationwide emergency due to a severe blood shortage, attributed to the lowest donor numbers in twenty years. This scarcity of blood supply presents a significant risk to patient care. In response, the Red Cross of Southern Nevada urgently calls upon the community to step forward, donate blood, and secure the necessary supply for critical treatments. In all the above cases, there is a huge need for blood typing, and a rise in the number of such cases is expected to boost the market's growth.
Thus, due to the increase in road accident cases and the rise in blood donation campaigns, North America is anticipated to witness growth in the blood typing market over the forecast period.
