New York, US, May 03, 2022 (GLOBE NEWSWIRE) -- Blood Grouping Reagents Market Overview:
According to a Comprehensive Research Report by Market Research Future (MRFR), "Blood Grouping Reagents Market Information by Product, Technique, Test Type, End User and Region - Forecast till 2027", the blood grouping reagents market will be valued at USD 2,642.17 million by 2027, confirms Market Research Future (MRFR). The market size will be expanding at a rate of 7.74% between 2021 and 2027. MRFR asserts in its latest report that the worldwide market for blood grouping reagents was worth USD 1,578.78 million in 2020 and will continue to experience considerable growth owing to the notable spike in the number of COVID-19 cases worldwide.
Market Scope:
The worldwide market for blood-grouping reagents stands to profit from the rising cases of various chronic disorders. Over the years, the huge burden of chronic diseases including cancer and diabetes across the globe has augmented the need for early and accurate diagnosis for improved patient care. Diabetes and cardiac diseases are the top chronic disorders that claim the highest number of lives or cause disability in the United States. Blood group testing is largely used to detect cancer since there is a huge requirement for blood transfusion for the treatment.
Blood products like platelets that help treat cancer patients have an extremely short shelf life, which enhances their demand. It is imperative for the surgeons and doctors to detect the biochemical composition of the blood group antigens among patients to form a link between the risk of disease and blood type biochemistry in order to identify druggable targets. As a result, the surging prominence of chronic diseases, paired with the accelerated demand for early detection via blood grouping, will be favorable for the worldwide market in the long run.
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Market Competitive Analysis:
The prominent vendors in the blood grouping reagents market are:
- Merck KGaA (Germany)
- Bio-Rad Laboratories Inc (US)
- Novacyt Group (France)
- Beckman Coulter Inc (US)
- Haemokinesis Pty Ltd (Australia)
- MTC Med. Produkte GmbH (Germany)
- DAY medical SA (Switzerland)
- Rapid Labs Ltd (UK)
- Ortho Clinical Diagnostics (US)
- Diagast SAS (France)
Market USP Covered
Market Drivers
The rising prominence and burden of chronic disorders propels the need for effective treatment. Chronic ailments including hemophilia, anemia, diabetes, leukemia, and lymphoma, coupled with the rapid spread of the COVID-19 pandemic, result in considerable burden. The Center for Disease Control (CDC) reported that in 2019, seven in ten adults are affected by one of the chronic diseases while five in ten suffer from around two chronic diseases. This data shows the surging burden of chronic diseases and the heightened need for effective and efficient management.
The World Health Organization states that over 1.62 billion anemic patients can be recorded worldwide, accounting for close to 24.8% of the total population. In addition to this, women in their reproductive age are mostly affected by anemia owing to iron deficiency.
Women that are aged between 15 and 49 are highly prone to anemia. The WHO also says that in 2020, 31.9% of women between the age of 16 and 49 years suffer from extreme anemia. In 2020, 45.8% of children between the age of 6 and 59 months had anemia. This has resulted in a massive demand for a variety of blood grouping reagent test kits worldwide.
Market Restraints
The demand for blood grouping reagent tests has risen considerably since the COVID-19 outbreak. The accelerated use of RT-PCR kits, serology test kits and blood typing kits have boosted the sales for the market firms.
With that said, numerous complaints have been registered regarding the inaccurate results post the use of rapid test kits. The urgent requirement for a large number of test kits on short notice has led to compromised quality. This has been extremely unfavorable for the worldwide market.
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COVID-19 Analysis
The COVID-19 outbreak has been unfavorable for the worldwide healthcare system, giving rise to a number of public health measures, and reducing medical access to the patients. The spread of the pandemic has led to a shutdown of various operational facilities across the globe.
The healthcare sector worldwide is dealing with various challenges in the lockdown phase. Owing to the rapid growth in the number of COVID-19 cases, medical facilities are facing interruptions, which has reduced the provision of essential services.
On the bright side, the escalation in the number of infected patients that need blood grouping reagent products for diagnostic applications has proven to be favorable. The surge in assay techniques to detect the absence or presence of the coronavirus among people has created a massive demand worldwide. The sudden spike in the demand for diagnostic tests has created a lot of pressure on the market players to develop blood grouping reagent products. Additionally, the heightened number of RT-PCR tests and molecular assay tests for detection of the disease enhances the demand for blood grouping reagent products.
Segment Overview
Products studied in the report are Consumables as well as Instruments. Blood grouping instruments help know the blood type by conducting Rh typing, ABO grouping, cross-matching tests, and antibody screening. These types of instruments used for analyzing the blood groups and also provide numerous benefits over the traditional tests that are performed by technicians manually, including reduction in human errors.
Depending on technique, the key segments can be Assay-Based Techniques, PCR-based and Microarray Techniques, Serology, and Massively Parallel Sequencing Techniques. PCR-based assays help know the antigen type of the donor RBCs for antibody identification reagent panels, and transfusion.
Test types covered are Antibody Screening, Blood Group and Phenotypes, Antibody Identification, Crossmatching Tests, Antigen Typing, as well as Coombs's Test.
Major end-users are Blood Banks, Hospitals, and Clinical Laboratories.
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Regional Analysis
North America is currently leading the blood grouping market, given the strong base of some of the most affluent contenders and the rising prominence of several chronic diseases that raise the need for blood transfusion as well as organ transplant. Technological innovations in the clinical space, and the mounting awareness level among people can ensure relentless market growth as well. many of the manufacturers in the region are launching new test kits and other products, or focus on collaborating with other firms to optimize the cash flow channel, while also outsourcing the production process. On top of this, large-scale investments in extensive research activities as well as collaborative approach to enhance the technology with respect to blood grouping can elevate the market position in the following years.
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The Asia Pacific market for blood grouping reagents can expect to attain the fastest growth rate in subsequent years. some of the major reasons for the significant market growth in the region could be the rising cases of injuries caused by accidents or trauma. Heightened use of blood banking services, surge in government initiatives and soring public awareness regarding blood donation further amplify market demand.
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