Global Blood Group Typing Market 2019-2023 | 10% CAGR Projection over the Next Four Years | Technavio
The global blood group typing market is expected to post a CAGR of nearly 10% during 2019-2023, according to the latest market research report by Technavio.
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Technavio has released a new market research report on the global blood group typing market for the period 2019-2023. (Graphic: Business Wire)
Healthcare and biotechnology companies are increasingly investing in innovating and introducing newer products to analyze the molecular level of blood group typing. Researchers have developed a flexible DNA microarray platform for molecular blood group typing. The platform enables the processing of blood samples and genotype which allows blood banks to offer extensive screening to blood donors at relatively low costs.
As per Technavio, the increasing government support towards blood safety will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global blood group typing market 2019-2023 research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
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Global blood group typing market: Increasing government support about blood safety
National blood policies are being implemented and developed owing to factors such as the risk of transmissible diseases, including HIV, hepatitis B (HBV), HCV, and syphilis, lack of suitable infrastructure to provide blood services, and inadequate staff to conduct blood transfusion services.
“Development of sensitive donor screening tests to detect emerging diseases and potential bioterrorism agents in blood donations are being initiated. Regulators are working with other blood organizations, government agencies, and device manufacturers to keep adequate blood inventories in case of an emergency,” says a senior analyst at Technavio.
Global blood group typing market: Segmentation analysis
This market research report segments the global blood group typing market by product (consumables, instruments, and software) and geographical regions (North America, Europe, Asia, and ROW).
The consumables segment held the largest market share in 2018, accounting for nearly 43% of the market. This product segment is expected to dominate the global market throughout the forecast period.
North America led the market in 2018 with a market share of over 34%. This region is expected to dominate the market through 2023 despite its market share decreasing.
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