Market Trends of Blood Transfusion Diagnostics Industry
This section covers the major market trends shaping the Blood Transfusion Diagnostics Market according to our research experts:
Reagents & Kits Segment is Anticipated to Hold a Significant Share Over the Forecast Period
Based on product types, the reagents & kits segment is expected to contribute significantly to the Blood Transfusion Diagnostics Market during the study period. The dominance is attributed to the repeated use of reagents & kits during the transfusion diagnostics procedure both for the donor and recipient. Also, lower shelf life as compared to the instruments is the other factor for the repetitive use of these consumables during transfusion diagnostic procedures.
Apart from that, the comparatively lower price of the reagents & kits consumables is surging the demand and adoption of these products among healthcare professionals for blood transfusion diagnostics. For instance, according to an article published by Nexstar Media Inc. in August 2022, it was reported that the average selling price of a blood type test kit is estimated a USD 10. In contrast, the average selling price of the instruments is much higher than the reagent and kits.
Moreover, introducing affordable reagents and kits by the major players is fueling the adoption rate among the common people. For instance, in November 2022, Grifols, S.A., announced the Food and Drug Administration (FDA) approval of an AlphaID screening kit to detect alpha-1-antitrypsin deficiency in the comfort of a home. This helped the United States population to detect any genetic risks associated with alpha-1. Also, in July 2022, Immucor Inc. received FDA approval for Blood Grouping Reagents (monoclonal), Anti-Jka, Anti-Jkb, Anti-S, Anti-s, and Anti-Fya (IgG).
Therefore, owing to the above-mentioned factors, the consumables segment is anticipated to witness a significant share over the forecast period.
North America is Expected to Contribute a Significant Proportion to the Market
North America is expected to dominate the market owing to factors such as high awareness of blood transfusion along with the availability of advanced healthcare facilities for transfusion diagnostics. For instance, according to a report by America Red Cross, an estimated 16 million blood components are transfused each year in the United States. This significant amount of blood transfusion requires prior diagnostics and screening. This, in turn, increases the demand for blood transfusion diagnostics instruments and consumables during the study period.
Apart from that, the rising prevalence of key disorders, including anemia, hemophilia, thalassemia, and others, is fostering the demand for blood transfusion. For instance, according to data by the Center for Disease Control and Prevention (CDC) published in May 2022, it was reported that an estimated 100,000 population in the United States were affected by sickle cell anemia. Also, according to an article published by the Journal of Public Health and Emergency in September 2022, it was reported that the prevalence of anemia was around 24% in Mexico. This huge patient population is fueling the demand for blood transfusion as well as transfusion diagnostics products during the study period.
Thus, due to the above factors, the North America region is contributing a significant share of the global blood transfusion diagnostics market.
