Blood Group Typing Market Analysis
Blood group typing process is helpful in determining the type of blood group of an individual. This typing method is a mandatory requirement before blood transfusion to examine the compatibility between the blood group of donor and recipient. Blood typing methods also have significance in prenatal testing where the father has an RhD positive blood group, and the mother has an RhD negative blood group.
The blood group typing market is growing pervasively owing to the increasing prevalence of chronic diseases and accident cases, worldwide. Moreover, technological advancements in blood group detections methods such as quantum dots (QDs) and magnetic beads in assays improve identification are escalating the market on the global platform, enhancing the clinical safety in the blood transfusion processes.
According to The American National Red Cross, over 21 MN blood components are transfused each year in the US. Following the same suit, an estimated 6.8 million people in the US donate blood each year. Recognizing the exponential growth, the market perceives currently; Market Research Future (MRFR), in its recently published study report asserts that the global blood group typing market will grow colossally by 2023, posting a CAGR over 10% during the review period (2018 – 2023).
Additional factors boosting the market growth include the augmenting demand for blood grouping during prenatal testing, the rise in blood donations, and growing usage of blood typing in the forensic sciences. Moreover, the growing number of road accidents and trauma cases which require blood transfusion and the increasing demand for blood products foster the market growth.
On the flip side, factors such as the stringent regulatory requirements for blood transfusion are expected to hamper the growth of the global blood group typing market. Also, the unmet clinical needs alongside the unavailability of external funding are obstructing the market growth, especially in the developing regions. Nevertheless, augmenting demand for the blood group typing in the diagnostics that can give fastest & accurate results is propelling the growth of the market.
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Global Blood Group Typing Market – Segments
MRFR has segmented its analysis into five key dynamics for enhanced understanding.
By Technique: PCR-based & Microarray Techniques, Assay-based Techniques, and Massively Parallel Sequencing among others.
By Test Type: Antibody Screening, HLA Typing, ABO Blood Tests, Cross-Matching Tests, and Antigen Typing among others.
By Product & Service: Consumables, Instruments, and Services.
By End-user: Hospitals, Blood Banks, and Clinical Laboratories among others.
By Regions: North America, Europe, APAC and the Rest-of-the-World (RoW).
Global Blood Group Typing Market – Regional Analysis
The North America market is expected to retain its dominance over the global blood group typing market with the largest market share. A well-developed healthcare sector, the increasing prevalence of chronic diseases, and the high per capita healthcare expenditures drive the market growth in the region. This market will create a substantial revenue pocket throughout the forecast period. Furthermore, the presence of prominent market players impacts the market growth positively.
The blood group typing market in the European & Asia Pacific region accounts for the second & third largest market, respectively. In Europe, the blood group typing market is growing due to the well-spread awareness towards keeping good health and the initiatives undertaken by private and public organizations. Moreover, the growing prevalence of various Hematological disorders, chronic diseases, and the increasing number of blood transfusion procedures in the region are fostering the market growth.
The Asia Pacific region, on the other hand, is emerging as a promising market for the blood group typing owing to the continuously developing economies, the rising prevalence of chronic diseases, spreading awareness towards healthcare, and increasing government funding for the healthcare sector.
Factors substantiating growth in the APAC market include the substantial funds transpired into R&D activities, huge patient population, and rapidly developing healthcare infrastructure, government support. Furthermore, increasing healthcare expenditures and favorable government policies, especially in India and China, are propelling the growth of the market in the region.
Global Blood Group Typing Market – Competitive Analysis
The blood group typing market appears to be fragmented and fiercely competitive due to many large and small players churning the competition in the market. Through the strategic initiative such as partnership, expansion, acquisition, product & technology launch, and collaboration, these players try to gain a competitive edge in the market.
Blood Group Typing Market Key Players:
Some of the players leading the global blood group typing market are Grifols International, S. A., Bio-Rad Laboratories, Inc., Beckman Coulter, Ortho Clinical Diagnostics, Inc., Immucor, Inc., Quotient, Ltd., Bag Healthcare GmbH, Novacyt Group, Rapid Labs, Agena Biosciences, Inc., AXO Science, Merck KGaA, and Day Medical SA among others.
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Blood Group Typing Industry, Innovation & Related News
October 11, 2018 —- The U.S. Food and Drug Administration approved ID CORE XT, a molecular-based assay that is used in blood transfusion medicine to help determine compatibility in the blood. The assay is useful in determining blood donor and patient non-ABO red blood cell (RBC) types.
It (ID CORE XT) is the second molecular assay approved for use in transfusion medicine, and the first to report genotypes as final results.
The study was conducted to compare the typing results of the ID CORE XT Test with the first FDA-approved molecular assay, licensed serological reagents, and DNA sequencing tests. And, the outcomes demonstrated comparable performance between the methods. This approval of the ID CORE XT Test can streamline blood compatibility testing providing an additional alternative to testing blood with antisera.