Blood Screening and Typing Market to See 14.9% Annual Growth Through 2023

Increasing Blood-Borne Disease Prevalence and Novel Tech Driving Industry Expansion

April 11, 2019

WELLESLEY, Mass., April 11, 2019–The increasing prevalence of blood-borne infectious diseases and the introduction of novel technologies for sensitive and high-throughput detection methods are factors that help boost the blood screening and typing market, according to the latest report by BCC Research, “Blood Screening and Typing: Global Markets.”

The industry expects to see a compound annual growth rate (CAGR) of 5.0% through 2023, when it could be worth $9.9 billion, according to the report

Major players in the market include Abbott Molecular (ABT), Roche Diagnostics (ROG), Becton, Dickinson and Company (BDX), bioMérieux (BIM), and Danaher (DHR).

Research Highlights

• Microbiology leads the market by size, with a 2018 value of $2.5 billion, though niche tech leads by growth, with a CAGR through 2023 of 7.1%.
• By technology, segment growth is led by nucleic acid amplification, with a CAGR through 2023 of 5.6%, followed by microbiology at 5.1% and immunoassay at 4.9%.
• For immunoassay tests, North America leads the market by size, with a 2018 value of $762.9 million, followed by Europe at $658.6 million and the Asia-Pacific region at $540.5 million.

“Across the globe, more than 112 million units of blood are donated annually, according to WHO, of which over 50% comes from high-income countries. However, donation growth is declining due to increase in surgical methodologies that create scope limiting the use of blood losses associated with surgeries,” notes the report’s authors.

Market Restraints Include Government Policies, Price Pressures

Though generally positive, there are several factors which are working to restrain the market, the report notes. Chief among those are government policies, led by a 2.3% medical device tax in the U.S. Meanwhile, intense competition in segments like the point-of-care testing market means manufacturers have encountered strong pricing pressure.

Editors/reporters requesting analyst interviews should contact Sarah Greenberg at press@bccresearch.com.

Blood Screening and Typing: Global Markets( HLC224A )
Publish Date: Mar 2019    

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