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)

The APAC blood transfusion diagnostics market is expected to grow from US$ 875.20 million in 2022 to US$ 1,380.34 million by 2028. It is estimated to grow at a CAGR of 7.9% from 2022 to 2028. 

Elevated Healthcare Expenditure in Emerging Economies to Boost Market in Coming Years 

Healthcare budget allocations help countries strengthen workforces and improve this sector's productivity, thereby contributing to economic performance. Rapid economic developments allow developing countries to raise their healthcare expenditures, enabling them to establish better medical service infrastructure by leveraging technological advancements. The Government of India, through its National Health Authority agency, implemented Ayushman Bharat – Pradhan Mantri Jan Arogya Yojana (AB-PMJAY) in 2019. This scheme has facilitated free/affordable treatment for cancer patients in the country. As per the data published by the National Health Authority of India, ~470,133 cancer cases were treated under AB-PMJAY in 2019. Such initiatives are likely to provide lucrative opportunities for companies in the blood transfusion diagnostics market to introduce advanced technologies for the blood transfusion diagnostics market in Asia Pacific. 

Market Overview 

China dominated the blood transfusion diagnostics market in Asia Pacific in 2022. The market growth in China is attributed to the increased use of advanced technologies in blood-related diagnoses, followed by a surge in the number of blood donation camps and blood banks in the country. The nation has a blood donation law in place that allows voluntary unpaid blood donation, and the donated blood can only be used for clinical practice. China's National Health Commission recorded 15.53 million blood donations in 2020, despite the pandemic-related restrictions. This figure is 40-times more than that recorded in 1998. According to Xinhua news, from January to April 2021, 5.12 million blood donations were registered nationwide. Therefore, the increasing number of blood donations for clinical use leads to high demand for blood transfusion diagnostics to screen the blood groups. 

APAC Blood Transfusion Diagnostics Market Revenue and Forecast to 2028 (US$ Million) 

APAC Blood Transfusion Diagnostics Market Segmentation 

The APAC blood transfusion diagnostics market is segmented based on product, application, end user, and country. 

• Based on product, the APAC blood transfusion diagnostics market is bifurcated into instruments & kits and reagents. The instruments & kits segment held the larger market share in 2022.
•  Based on application, the APAC blood transfusion diagnostics market is bifurcated into blood grouping and disease screening. The disease screening segment held the larger market share in 2022.
•  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 dominated the market in 2022.
•  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 dominated the market in 2022. 

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. are the leading companies operating in the APAC blood transfusion diagnostics market.

1. Abbott
2. BAG Diagnostics GmbH
3. Bio-Rad Laboratories, Inc.
4. DiaSorin S.p.A.
5. F. Hoffmann-La Roche Ltd      
6. Grifols, S.A.
7. Immucor, Inc.  
8. Ortho Clinical Diagnostics (QuidelOrtho Corporation)
9. Quotient Limited
10. Thermo Fisher Scientific Inc.

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