Global Blood Screening Market is anticipated to reach USD 3.9 billion by 2024. It is anticipated to grow at a healthy rate in the years to come. Blood is a living tissue made up of liquid, with several proteins and cells suspended in it. It contains red blood cells, circulating fluid, platelets, and white blood cells. It offers nutrition and oxygen to the body cells through arteries, capillaries, and veins. It also helps in removal of carbon dioxide and metabolic waste from the body. Blood screening implies medical procedure wherein blood is inspected for a specific condition or disease. It helps to monitor health issues & diseases and a chronic ailments such as cancer and infections.
The
facts that propel the growth of the Market include surge in adoption of nucleic
acid amplification test (NAT), increase in prevalence of infectious diseases,
rise in awareness regarding healthcare, and increase in the number of blood
donations. Furthermore, surge in healthcare expenditure, increase in healthcare
initiatives by government, and technical developments in blood screening
technologies have resulted in the market growth.
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On
the other hand, factors such as dearth of skilled manpower, high operating
costs, and strict regulatory approvals may hinder the market development. The
introduction of pathogen reduction technology and microbiology screening &
multiplexing are anticipated to offer profitable opportunities for the blood
screening market. and grow at a significant CAGR of 10.2% in the upcoming period
as the scope, product types, and its applications are increasing across the
globe.
Blood
Screening Market may be analyzed based on technology, product outlook, end
users, and geography. The Market may be explored by technology as ELISA,
Chemiluminescence Immunoassay (CLIA), and Enzyme Immunoassay (EIA), Nucleic
Acid Amplification Test (NAT), Western Blotting, and Next-Generation Sequencing
(NGS). The NAT may be further split into real-time PCR and
transcription-mediated amplification (TMA). The “NAT” dominated the blood
screening market in 2016 and is anticipated to maintain its dominance by 2024
due to growing number of blood donations, increasing occurrence of
transferrable diseases, and growing disposable income with respect to
reimbursement for NAT-tested blood.
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Furthermore,
the increasing consciousness about advanced and innovative applications of NAT
in disease screening and the growing demand for safe donated blood by patients
suffering from thalassemia, hemophilia, and sickle-cell anemia boost the
development of this technology sector. Blood Screening Market may be explored
by product outlook as Reagent& kit, and Instrument.
The
market may be analyzed based on end user into Blood Banks, and Hospitals. The
“blood banks” segment dominated the market in 2016 and anticipated to maintain
its dominance by 2024 due to factors such as growing demand for donated blood,
rising number of rising awareness regarding the safety of blood, organ
transplantation surgeries, growing number of donations worldwide, and
development in government funding to charitable trusts.
North
America accounted for the major share of the global Blood Screening Industry in
2016 and will continue to lead in the forecast period due to factors such as
growing participation of several government associations in screening &
transfusion activities and blood donations, and rising adoption of nucleic acid
tests (NAT).
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