Blood Typing, Grouping and Infectious Disease Screening Market Worth Will Be US$ 7,078.3 Million By 2026: Credence Research

SAN JOSE, Calif., June 11, 2018 (GLOBE NEWSWIRE) -- According to the latest report published by Credence Research, Inc. “Blood Typing, Grouping and Infectious Disease Screening Market - Growth, Future Prospects and Competitive Analysis, 2018-2026,” the global blood typing, grouping and infectious disease screening market was valued at US$ 3,079.8 Mn in 2017 and expected to reach US$ 7,078.3 Mn by 2026, expanding at a CAGR of 9.7% from 2018 to 2026.

Market Insights

The global blood typing, grouping and infectious disease screening market is projected to reach US$ 7,078.3 Mn by 2026 from US$ 3,079.8 Mn in 2017, growing at a CAGR of 9.7% during the forecast period from 2018 to 2026. The factors contributing to the market growth includes increase in disposable income, rising population, growing awareness regarding blood donations and blood products. According to the Centers for Disease Control and Prevention, the cases of syphilis, a disease caused by Treponema pallidum, has increased by 17.6% in 2016 accounting for 8.7 cases per 100,000 population in the United States. Furthermore, the growing rate of infections catalyze the market growth. According to the (a portal managed by the U.S. Department of Health & Human Services and supported by the Secretary’s Minority AIDS Initiative Fund (SMAIF)), the burden of HIV cases at the end of 2016 was reported around 36.7 million globally among which 2.1 million patients are less than 15 years of age. The global incident cases of HIV in 2016 was reported around 1.8 million that makes around 5,000 infections per day. The global blood typing, grouping and infectious disease screening market is segmented based on the test type, product type, infectious agent, and geography.

Based on the test type, the global market is segmented into ABO grouping, immunoassay screening and nucleic acid testing (NAT). In 2017, the market was dominated by the ABO grouping segment owing to the growing demand for blood & blood products, growing number of trauma cases and increasing usage of ABO blood grouping across other industries. Furthermore, NAT segment is identified as the fastest growing segment during the forecast period from 2018 to 2026. Based on the product type, the global market is segmented into kits, consumables and instruments. In 2017, consumables segment led the global market. Based on the infectious agent, the cytomegalovirus (CMV) led the market in 2017 owing to huge burden of infection cases.

Based the geographical segmentation, in 2017, North America led the global market with over 34% of the share, in terms of value. The supremacy of North America is attributed to the awareness among public regarding blood donations and infectious diseases. Furthermore, the treatment cost is higher compared to other parts of the world thereby making NA contribute majorly by value as compared to other regions. Asia Pacific is identified as the fastest growing region during the forecast period followed by the Latin America. Developing countries in these regions are the most potential markets such as India and Brazil that offers huge opportunities to the manufacturers.

The market is highly fragmented due to presence of several local and international manufacturers. No clear market leader is identified and the shares are distributed among the key players present in the market. The international players accounted more share than local players due to high market penetration, vast geographical outreach and diverse product portfolio. The key players in the market include Abbot Laboratories, Inc., Becton, Dickinson and Company, bioMérieux SA, Bio-Rad Laboratories, Inc., DiaSorin S.p.A, F. Hoffmann-La Roche Ltd., Grifols S.A, Immucor, Inc., Ortho Clinical Diagnostics, Quotient Ltd., and Thermo Fisher Scientific, Inc.

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