Pune, India, Nov. 08, 2022 (GLOBE NEWSWIRE) -- The global blood group typing market size was valued at USD 1.62 billion in 2021. The market is expected to expand from USD 1.96 billion in 2022 to USD 3.71 billion by 2029, exhibiting a CAGR of 9.5% over the estimated period.
The rise can be credited to the surging number of accident and trauma cases at the global level. Additional factors favoring market growth comprise an increase in public-private partnerships and the adoption of strategic initiatives by several key players.
This information is cited by Fortune Business Insights™ in its research report, dubbed "Blood Group Typing Market, 2022-2029".
Key Industry Development:
August 2022 – Eurobio Scientific acquired GenDx. The deal would allow Eurobio Scientific to secure its portfolio of 100% proprietary products among the most efficient in the HLA1 diagnostics sector.
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Report Scope
| Report Coverage | Details |
| Forecast Period | 2022 to 2029 |
| Forecast Period 2022 to 2029 CAGR | 9.5% |
| 2029 Value Projection | USD 3.71 Billion |
| Base Year | 2021 |
| Market Size in 2021 | USD 1.62 Billion |
| Historical Data for | 2018 to 2020 |
| No. of Pages | 177 |
| Key Players | Quotient Limited (Switzerland), CareDx Inc. (U.S.), Agena Bioscience, Inc. (Mesa Laboratories, Inc.) (U.S.), DIAGAST (U.S.), Illumina, Inc. (U.S.) |
| Growth Drivers | Market Growth to Prosper due to Escalating Demand for HLA Typing Tests |
| Reagents & Kits Segment to Depict Notable Surge Due to Rising Number of Blood Donations | |
| Antibody Screening Segment to Register Lucrative Growth Owing to Soaring Prevalence of Chronic Diseases |
Drivers and Restraints:
Market Growth to Prosper due to Escalating Demand for HLA Typing Tests
The recent years have recorded an upsurge in the number of transplantation procedures at the global level. This has led to an increase in the demand for Human Leukocyte Antigen (HLA) typing tests, which is propelling the blood group typing market growth. This is attributed to the fact that the HLA method is vital for renal transplantation.
However, the market expansion is likely to be hindered by the lack of infrastructure for blood group typing, especially in emerging countries.
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Blood Group Typing Market Segmentations:
Reagents & Kits Segment to Depict Notable Surge Due to Rising Number of Blood Donations
Based on product, the market is segmented into instruments and reagents & kits. The reagents & kits segment accounted for a substantial share in the market. This surge is mainly driven by the escalating number of blood transfusions and donations.
| Segmentation | By Product
|
By Test Type
| |
By Geography
|
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Antibody Screening Segment to Register Lucrative Growth Owing to Soaring Prevalence of Chronic Diseases
On the basis of test type, the market for blood group typing can be fragmented into antigen typing, ABO tests, cross-matching tests, antibody screening, HLA typing, and others. Of these, the antibody screening segment is anticipated to register a commendable surge in the market. This is mainly on account of the escalating prevalence of prenatal testing, increased blood transfusions, and the growing prevalence of chronic diseases.
Serology Tests to Gain Traction due to New Product Launches
On the basis of technique, the market is subdivided into molecular tests and serology tests. The serology tests segment is estimated to record appreciable expansion over the forecast period. The rise can be credited to the increasing initiatives for new product launches and soaring initiatives for voluntary blood donations.
Independent Laboratories & Blood Banks Segment to Record Remarkable Growth Considering the Rising Setup of these Units
On the basis of end-user, the market is fragmented into independent laboratories & blood banks and hospital-based laboratories. The independent laboratories & blood banks segment is anticipated to register commendable growth through the study period. The escalation can be attributed to the growing number of independent blood banks & laboratories, including in emerging nations.
Based on region, the global market is studied across North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
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Report Coverage:
The report provides an in-depth analysis of the significant trends that are expected to drive the business landscape over the forthcoming years. It further gives an insight into the critical steps taken by leading industry participants for the consolidation of their market presence. These findings have been provided after extensive research from credible sources.
Regional Insights:
North America to Lead Due to Growing Demand for Blood Transfusions
The North America blood group typing market share is estimated to register appreciable growth over the forecast period. The rise can be attributed to the growing demand for blood transfusions and favorable reimbursement policies. Some of the additional factors favoring regional expansion include the surging regulatory approvals for the usage of advanced products.
The Europe market is estimated to record lucrative growth throughout the study period. The surge can be credited to the growing number of these procedures and soaring awareness amongst individuals regarding blood donations.
Competitive Landscape:
Industry Players Enter into Partnership Agreements to Strengthen their Market Presence
Prominent participants in the market are striking various partnership deals and agreements for strengthening their presence in the region. Some companies are also adopting various initiatives such as mergers, acquisitions, and the formation of alliances. Additional steps include rising launch of research initiatives for the development of new products.
List of Key Players Mentioned in the Report:
- Quotient Limited (Switzerland)
- CareDx Inc. (U.S.)
- Agena Bioscience, Inc. (Mesa Laboratories, Inc.) (U.S.)
- DIAGAST (U.S.)
- Illumina, Inc. (U.S.)
- Grifols, S.A. (Spain)
- Immucor, Inc. (U.S.)
- Bio-Rad Laboratories, Inc. (U.S.)
- Thermo Fisher Scientific Inc. (U.S.)
- Merck KGaA (Germany)
- QIAGEN (Netherlands)
- Beckman Coulter, Inc. (Danaher) (U.S.)
- QuidelOrtho Corporation (U.S.)
Table of Content
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Market Trends
- Key Insights
- Technological Advancements in Blood Group Typing Techniques
- Number of Blood Donations, For Key Countries
- Number of Blood Transfusions, For Key Countries/ Region
- Key Industry Developments: Mergers, Partnership, Acquisitions
- Brief Overview of Other Companies Operating in HLA Typing Products
- Pricing Analysis of HLA Typing Products
- Impact of COVID-19 on Blood Group Typing Market
- Global Blood Group Typing Market Analysis, Insights and Forecast, 2018-2029
- Market Analysis, Insights and Forecast – By Product
- Instruments
- Reagents & Kits
- Market Analysis, Insights and Forecast – By Test Type
- ABO Tests
- Antigen Typing
- Antibody Screening
- Cross-matching Tests
- HLA Typing
- Market Analysis, Insights and Forecast – By Techniques
- Serology Tests
- Molecular Tests
- Market Analysis, Insights and Forecast – By End-user
- Hospital-based Laboratories
- Independent Laboratories & Blood Banks
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
- Market Analysis, Insights and Forecast – By Product
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Frequently Asked Questions
How fast is the Blood Group Typing Market Worth?
Fortune Business Insights says that the global market size was USD 1.62 billion in 2021 and is projected to reach USD 3.71 billion by 2029.
What are Key Factors Driving the Market?
The increase in the number of blood donations and transplantation procedures and the rise in trauma and accident cases are driving the market growth.
About Us:
Fortune Business Insights™ delivers accurate data and innovative corporate analysis, helping organizations of all sizes make appropriate decisions. We tailor novel solutions for our clients, assisting them to address various challenges distinct to their businesses. Our aim is to empower them with holistic market intelligence, providing a granular overview of the market they are operating in.
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