Immunohematology Market Witness Excellent Revenue Growth During the Forecast Period: Grand View Research Inc

San Francisco, 24 December 2018: The Report Immunohematology Market Analysis by Product (Immunohematology Analyzer, Immunohematology Reagent), By End Use (Hospitals, Blood banks, Diagnostic Laboratories), By Region (North America, Europe, APAC, LATAM & MEA) And Segment Forecasts, 2018 – 2024

According to a report published by Grand View Research, Inc.; the immunohematology market is anticipated to reach a valuation of around USD 2.3 billion by 2024. Growing trauma cases can propel the market during the forecast period (2014 to 2025). Increasing number of hospitals and trauma care centers to provide emergency care has also increased blood requirement, thereby driving demand for immunohematology tests and products. Growing awareness about blood donation and growing number of voluntary donors all over the world have also led to rise in number of blood banks. This is also expected to drive the market growth. High prevalence of target diseases including cancer and sickle cell diseases is also crucial for the market. As patients detected with these diseases need multiple and recurrent blood transfusion. Products such as cell counters, reagents, and analyzers help to achieve safe and efficient transfusion procedure.

Diagnostic laborites and hospitals are emphasizing more on accepting automated instrumentation and incorporation of several functions in one platform. This is also expected to fuel the market growth in the coming years. High involvement of government organizations and NGOs play an important role in the market. Furthermore, new product launches and introduction of innovative technologies for blood screening is expected to drive the market growth. For example, mobile applications can assist to track the blood donation activity of volunteer donors and encourages donors to donate regularly by sending notification.

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Worldwide immunohematology market can be segmented on the basis of product, end-use, and region. Based on product, the market can be classified into immunohematology analyzer and immunohematology reagent. The immunohematology reagents segment was the leading segment in in 2015.  The segment is mainly driven due to availability of wide product range and high adoption of these reagents in blood banks. The automated analyzers function on some specific reagents, thus making it a compulsory and recurring purchase for hospitals and diagnostic laboratories. In immunohematology analyzers segment, the automated analyzer is likely to show rapid growth during the forecast period. They are accurate and provides quick results, and generally uses less reagents. In addition, some analyzers can show immediate digital results on the screen. This aids quick screening and categorization of blood.

As per end-use, the market can be categorized into blood banks, hospitals, and diagnostic laboratories. The hospitals segment conquered the market in 2015 owing to growing number of emergency cases due to road accidents and other reasons. Government and private institutions are spending high in developing and upgrading emergency sections in hospitals to augment survival chances of patients.

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Hospitals accounted for the largest share in the end-use segment of immunohematology market. It is mandatory for hospitals to check donated blood for infections, set parameters of hematology components, and perform pre-transfusion compatibility tests of donor and recipients.

Geographically, the market can be divided into North America; Europe; Asia Pacific; Latin America; and Middle East and Africa. North America held for the major market share of more than 40% in 2015. Presence of numerous trauma centers and blood banks are driving the need for immunohematology products in the region. Need for transfusion is high in the U.S. Additionally, high adoption of new technologies and automation is also supporting the regional growth. Frequent products approved by the U.S. FDA for technologically advanced products is also encouraging companies to introduce new products in the region. Europe is also considered as one of the attractive markets for hematology due to presence of prominent players. Asia Pacific region is likely to grow significantly during the forecast period. Participants in the market are expanding their facilities in this region to take an advantage of unexploited opportunities in this region.

Some of the prominent companies operating in the immunohematology market include Hologic, Inc.; Bio-Rad Laboratories, Inc.; Beckman Coulter, Inc.; ThermoFisher; and Ortho Clinical Diagnostics. Growing investments by players in R&D is expected to fuel the market growth in the coming years.

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About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

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