The global Blood Screening Market is projected to reach USD 3.8 billion by 2026 from USD 2.5 billion in 2021, at a CAGR of 8.4%.
Major Growth Driving Factors:
The demand for donated blood is rising because of advancements in healthcare systems and the availability of and the need for sophisticated surgical procedures, such as cardiovascular & transplant surgery, trauma care, and therapy for cancer and blood diseases. Emerging economies such as China, Japan, and India are providing lucrative opportunities for the players operating in the blood screening market.
The reagents & kits segment accounted for the largest share of the blood screening market, by product & service segment, in 2020.
The blood screening market is segmented into reagents & kits, instruments, and software & services. The reagents & kits accounted for the largest share of the blood screening market in 2020, mainly due to repeated use of reagents & kits in blood screening procedures due to the rising blood transfusion procedures, and the high consumption.
Nucleic Acid Test segment to register the highest growth rate during the forecast period.
The blood screening market is segmented into nucleic acid test (NAT), enzyme-linked immunosorbent assay (ELISA), rapid tests, western blot assays, and next-generation sequencing (NGS). In 2020, the nucleic acid test (NAT) segment accounted for the largest share of the blood screening market. Factors such as the increasing adoption of NAT technology due to its higher sensitivity over other blood screening technologies and increasing number of blood donations.
The blood banks segment accounted for the largest share of the blood screening, by end user segment, in 2020.
Based on end users, the blood screening market is segmented into blood banks and hospitals. In 2020, the blood banks segment accounted for the largest share of the blood screening market. The growing number of organ transplantation surgeries is driving the growth of this segment, and the increasing demand for donated blood.
Geographical Growth Dynamics:
North America is the largest regional market for blood screening market.
The global blood screening market is segmented into five major regions—North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa. In 2020, North America accounted for the largest share of the blood screening market. The North American blood screening market growth can be attributed to the increasing healthcare spending, increasing prevalence of chronic disorders, and the highly developed healthcare system in the US and Canada.
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