Blood Screening Market by Technology [Nucleic Acid Test (NAT), Enzyme-Linked Immunosorbent Assay (ELISA), Western Blot Assay, Next-Generation Sequencing (NGS), and Rapid Tests], Product and Service (Reagents & Kits, Instruments, and Software & Services), and End User (Hospitals, Blood Banks, and Others): Global Market Size Estimates and Forecast (2022-2030)

The market crossed US$ 2.68 billion mark in 2022 and is expected to hit US$ 4.94 billion by 2030, recording a CAGR of 7.90% during the forecast period.

Increasing number of blood donations worldwide

There is an increase in need for donated blood 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 hematological diseases. On an average, around 235 million major surgeries are being performed worldwide every year, of which 63 million are traumatic surgeries, cancer-related are over 31 million, and 10 million are related to pregnancy complications. Blood transfusion is usually prescribed in complicated childbirths to prepare for childhood congenital maternal blood disorders, acute anemia, and trauma.

Within the report, the blood screening market is segmented into technology, product and service, end user, and geography. On the basis of the technology, the market is segmented into Nucleic Acid Test (NAT), Enzyme-Linked Immunosorbent Assay (ELISA), western blot assay, next-generation sequencing (NGS), and rapid tests. On the basis of the product and service, the market is segmented into reagents & kits, instruments, and software & services. Further, by end user, the market is segmented into hospitals, blood banks, and others. Geographically, the blood screening market is segmented into North America, Europe, Asia Pacific, South & Central America, and Middle East & Africa.

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COVID-19 impact on blood screening market.

COVID-19 pandemic emerged as a critical health crisis, creating problems related not just to the respiratory system, but also blood-related problems. According to Johns Hopkins Medicine, few patients infected with the SARS-CoV-2 virus developed abnormal blood clotting in the lungs and legs. This issue evoked healthcare organizations to perform blood tests on patients infected with the virus, creating a favorable environment for the blood testing industry development.

Furthermore, non-COVID-19 patients with problems such as cardiovascular disorders and cancer continued with regular check-ups, including blood tests. The growing prevalence of these conditions during the pandemic will thus positively impact market revenue.

The reagents & kits segment showcases the high growth of the blood screening market.

Based on product & service, reagents & kits can be attributed to accounting highest market share during the analysis period due to their high accuracy for blood testing coupled with the cost-effectiveness for customers. Despite the lower cost of reagents & kits as compared to instruments, higher volume consumption of these for tests is responsible for the dominant share of the segment in the market during the forecast period.

Recent strategic developments in the blood screening market

The blood screening market has undergone several significant developments, and a few of these have been mentioned below:

• In June 2021, Grail, an American biotechnology and pharmaceutical company, launched the Galleri blood test, the company's innovative multi-cancer screening diagnostic capable of detecting multiple types of cancers. This test will help the company in the diagnosis of approx 50 million people after its launch and pursue a full FDA approval by 2023.
• In May 2021, Tzar Labs, a molecular diagnostic company and Epigeneres Biotechnology, announced early detection cancer tests. This test will help in diagnosing different stages of the disease. The company's accuracy rates are very high for cancer screening tests and had shown results for all types of cancers.

The blood screening market is driven by several players by implementing strategic activities such as BD, Beckman Coulter, Inc., Thermo Fisher Scientific Inc., Siemens, Bio-Rad Laboratories, Inc.,  Abbott, F. Hoffmann-La Roche Ltd, Grifols, S.A.,  bioMérieux SA, and Ortho Clinical Diagnostics are among the prominent players operating in the blood screening market.

Target audience for the report:

• Blood screening providers
• Hematology-related associations, organizations, forums, and alliances
• Government bodies, such as regulating authorities
• Venture capitalists, private equity firms, and start-up companies
• End users of blood screening
• Research institutes, organizations, and consulting companies

Scope of the report:

In this report, the market has been segmented on the basis of:

• Technology:
  • Nucleic Acid Test (NAT)
  • Enzyme-Linked Immunosorbent Assay (ELISA)
  • Western Blot Assay
  • Next-Generation Sequencing (NGS)
  • Rapid Tests

• Product and Service:
  • Reagents and Kits
  • Instruments
  • Software and Services

• End User
  • Hospitals
  • Blood Banks
  • Others

• Region
  • North America
  • Europe
  • Asia Pacific (APAC)
  • South & Central America
  • Middle East & Africa

• Companies profiled

• BD
• Beckman Coulter, Inc.
• Thermo Fisher Scientific Inc.
• Siemens
• Bio-Rad Laboratories, Inc.
• Abbott
• F. Hoffmann-La Roche Ltd
• Grifols, S.A.
• bioMérieux SA
• Ortho Clinical Diagnostics