Global blood Screening market size to touch US$3.2 Bn by 2025 at a CAGR of 12.3%
Noida, Uttar Pradesh, India, March 22 2021 (Wiredrelease) Report Ocean Pvt Ltd –:The rising number of blood donations coupled with the growing government initiatives related to the blood donations program across the globe further projected to boost the blood screening market during the forecast period. As per the International Federation of Red Cross and Red Crescent Societies around 108 million blood donations are collected every year across the globe. Moreover, the Global Network for Blood Donation (GNDB) aims to develop an international network of Rotarians and others who are involved in supporting voluntary blood donations (WHO and IRC principles). Through their association in this Rotarian Action Group is expected to share their expertise and experience with others engaged in the same type of efforts, thus promoting a fellowship or service across the world. Following these promising developments, the Global Blood Screening Market is estimated to see healthy growth, pegged at a CAGR of around 12.3% throughout the forecast period 2020-2025.
Moreover, biobanking has been going on in tandem with many clinical trials performed by various clinical research organizations or investigator-driven clinical trials across the countries, such as the US, China, and India. During the time-line of a trial, these organizations compile not only complex clinical and laboratory monitoring data, however, also examine samples such as blood samples, which can, in turn, be integrated into a biobank and used for research. The major aim of clinical trial-related biobanking is to identify disease/trial-associated biomarkers. Biorepositories are committed to serving the scientific community by preserving valuable biological materials. Technology and practices associated with the collection, storage, processing, and distribution of blood samples will continue to advance in biobanks along with the research community.
COVID-19 effect on the blood screening market
COVID-19 outbreak has impacted the medical practices of all sizes are under immense pressure, and healthcare facilities worldwide have been overwhelmed by the large number of patients visiting them daily. The rising coronavirus disease prevalence has also driven the demand for treatment devices and accurate diagnosis in various developed and developing countries worldwide. The COVID-19 pandemic has also enlarged the social distancing need among patients and physicians, driving the remote patient monitoring and telehealth solutions demand. As well as rising the need for blood donations and blood screening tests across the globe. Various companies have introduced and developed COVID-19 related features into existing blood screening, made available widely across the globe. This is leading to enhanced blood screening adoption in the current time.
Segmentation Overview of the Global Blood Screening Market
The blood screening market is segmented based on product type, technology, and end-user. These major market segments are further categorized into various sub-segments to study the market in detail.
By Product Type Outlook (Reagents & Kits, Instruments, Software & Services)
BY Technology Outlook (Rapid Tests, Next Generation Sequencing, Enzyme-Linked Immunosorbent Assay, Nucleic Acid Testing others)
By End User Outlook (Blood Banks, Hospitals & Clinics)
Key Players Insights
Hoffmann-La Roche AG, Abbott Laboratories, BioMérieux, Bio-Rad Laboratories, Danaher Corporation, Thermo Fisher Scientific Inc., Becton, Dickinson and Company, Grifols among others, are some significant players included in the research study of the global blood screening market.
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