Report : North America 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 7.1% CAGR, the North America Blood Transfusion Diagnostics Market is speculated to be worth US$ 2,742.80 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the North America blood transfusion diagnostics market was valued at US$ 1,815.82 million in 2022 and is expected to reach US$ 2,742.80 million by 2028, registering an annual growth rate of 7.1% from 2022 to 2028. Rapid increase in chronic diseases and need for blood transfusion due to rise in organ transplants surgeries are the critical factors attributed to the market expansion.
The population is undergoing many lifestyle changes that leading to a steady increase in the prevalence of chronic medical conditions. The constant urbanization and the rapid growth in the middle-class population have added substantially to the rise of the sedentary lifestyle among people. The modernization of facilities has reduced physical activities among people and increased stress from personal, professional, and societal factors. Some of the leading chronic diseases that require blood transfusion are anemia, certain cancers, thalassemia, hemophilia, and sickle cell disease. Chronic diseases affect public health, societies, and economies. Blood transfusion diagnostics are widely used in various surgical procedures, such as cardiac surgery and other invasive procedures. Chronic diseases, such as cancer, cardiovascular diseases, and renal disorders, are major causes of human death across the region. These conditions are generally treated via surgical procedures, which are associated with a chance of excessive blood loss. Fresh blood is infused into patients to maintain their blood levels. Blood transfusion diagnostics are used during the blood infusion or reinfusion processes. Hence, the blood transfusion diagnostics market is rising with the rapid increase in chronic diseases across the region.
On the contrary, problems associated with blood transfusion services hurdles the growth of North America blood transfusion diagnostics market.
- Based on product, the North America blood transfusion diagnostics market is bifurcated into instruments & kits and reagents. The instruments & kits segment held 66.4% market share in 2022, amassing US$ 1,205.83 million. It is projected to garner US$ 1,839.65 million by 2028 to expand at 7.3% CAGR during 2022–2028.
- Based on application, the North America blood transfusion diagnostics market is bifurcated into blood grouping and disease screening. The disease screening segment held 61.0% market share in 2022, amassing US$ 1,107.51 million. It is projected to garner US$ 1,683.92 million by 2028 to expand at 7.2% CAGR during 2022–2028.
- Based on end user, the North America blood transfusion diagnostics market is segmented into hospitals, diagnostic laboratories, blood banks, and plasma fractionation companies. The blood banks segment held 41.7% market share in 2022, amassing US$ 757.50 million. It is projected to garner US$ 1,180.63 million by 2028 to expand at 7.7% CAGR during 2022–2028.
- Based on country, the North America blood transfusion diagnostics market has been categorized into the US, Canada, and Mexico. Our regional analysis states that the US captured 85.0% market share in 2022. It was assessed at US$ 1,542.86 million in 2022 and is likely to hit US$ 2,362.56 million by 2028, exhibiting a CAGR of 7.4% during the forecast period.
Key players dominating the North America 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 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.
- In July 2021, DiaSorin S.p.A. announces it has completed the acquisition of Luminex Corporation for a price of USD 37.00 per share that corresponds to a total equity value of approximately USD 1.8 billion. Through the acquisition, DiaSorin will gain access to Luminex’s multiplexing technology and a portfolio that will strengthen its existing offering, while expanding the Group presence in the United States.
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