Report : Asia-Pacific Blood Transfusion Diagnostics Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Product (Instruments & Kits and Reagents), Application (Blood Grouping and Disease Screening), and End User (Hospitals, Diagnostic Laboratories, Blood Banks, and Plasma Fractionation Companies)
At 7.9% CAGR, the APAC Blood Transfusion Diagnostics Market is speculated to be worth US$ 1,380.34 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the APAC blood transfusion diagnostics market was valued at US$ 875.20 million in 2022 and is expected to reach US$ 1,380.34 million by 2028, registering an annual growth rate of 7.9% from 2022 to 2028. Elevated healthcare expenditure in emerging economies and technological developments in blood transfusion diagnostics are the critical factors attributed to the market expansion.
Blood Transfusion Diagnostics are usually deployed during long-hour surgeries, such as kidney transplants, and in cases of emergencies. These surgeries are associated with the chances of excessive blood loss, which makes it difficult to make up for the blood loss with new blood, especially in the case of rare blood groups. Due to the ample demand, key players in the blood transfusion diagnostics market offer advanced and fully automated blood transfusion diagnostics that reduce human interventions. For instance, in April 2019, BD launched its BD BACTEC quality control media to help identify contaminated platelet units during transfusions. Moreover, many companies employed strategic activities, such as acquisitions, partnerships, and other activities, to capture the market. For instance, in December 2019, Getinge purchased Applikon Biotechnology, a leader in the development and supply of innovative bioreactor systems from the laboratory to the industrial scale. In October 2019, Medtronic acquired AV Medical Technologies. Thus, such advancements are likely to bring new trends in the blood transfusion diagnostics market in the coming years.
On the contrary, problems associated with blood transfusion services hurdles the growth of APAC blood transfusion diagnostics market.
- Based on product, the APAC blood transfusion diagnostics market is bifurcated into instruments & kits and reagents. The instruments & kits segment held 66.9% market share in 2022, amassing US$ 585.21 million. It is projected to garner US$ 932.40 million by 2028 to expand at 8.1% CAGR during 2022–2028.
- Based on application, the APAC blood transfusion diagnostics market is bifurcated into blood grouping and disease screening. The disease screening segment held 59.6% market share in 2022, amassing US$ 521.54 million. It is projected to garner US$ 827.06 million by 2028 to expand at 8.0% CAGR during 2022–2028.
- Based on end user, the APAC blood transfusion diagnostics market is segmented into hospitals, diagnostic laboratories, blood banks, and plasma fractionation companies. The blood banks segment held 39.0% market share in 2022, amassing US$ 341.43 million. It is projected to garner US$ 557.43 million by 2028 to expand at 8.5% CAGR during 2022–2028.
- Based on country, the APAC blood transfusion diagnostics market has been categorized into China, India, Japan, South Korea, Australia, and rest of APAC. Our regional analysis states that China captured 36.1% market share in 2022. It was assessed at US$ 316.24 million in 2022 and is likely to hit US$ 521.86 million by 2028, exhibiting a CAGR of 8.7% during the forecast period.
Key players dominating the APAC blood transfusion diagnostics market are Abbott; BAG Diagnostics GmbH; Bio-Rad Laboratories, Inc.; DiaSorin S.p.A.; F. Hoffmann-La Roche Ltd; Grifols, S.A.; Immucor, Inc.; Ortho Clinical Diagnostics (QuidelOrtho Corporation); Quotient Limited; and Thermo Fisher Scientific Inc. among others.
- In March 2022, Immucor, a leader in the immunohematology industry, announced that automated monoclonal Jka and Jkb phenotype testing is now available on the NEO Iris/NEO (v2.0). Immucor’s fully automated Jka and Jkb phenotype assay brings ease of use, high sensitivity, and reduced subjectivity for Kidd antigen testing.
- In July 2022, Quotient Limited announced an agreement with InfYnity Biomarkers, an R&D firm dedicated to utilizing biomarkers for the management of infectious and immunology diseases, under which the two companies will partner to advance the safety and effectiveness of infectious disease testing by leveraging Quotient’s MosaiQ solution.
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