Global Blood Group Typing Market Size Projected to Reach USD 4.56 Billion By 2032, at 7.4% CAGR: Polaris Market Research
As per the recent [115+ Pages] analysis by Polaris Market Research, the global blood group typing market size was valued at USD 2.23 billion in 2022 and is predicted to reach USD 4.56 billion by 2032. Also, the study states that the market reveals a robust 7.4% Compound Annual Growth Rate (CAGR) over the predicted timeframe, 2023-2032. North America region dominated the market with a majority share in 2022, owing to exponential growth in the technology and advanced healthcare infrastructure.
New York, NY, Nov. 23, 2023 (GLOBE NEWSWIRE) — Polaris Market Research has published a recent study report titled “Blood Group Typing Market Share, Size, Trends, Industry Analysis Report, By Test Type (HLA Typing, ABO Blood Test, Antibody Screening, Cross-matching Tests, Antigen Typing); By Product Type; By Technique; By Region; Segment Forecast, 2023- 2032” in its research database.
As per the recent analysis by Polaris Market Research, the global blood group typing market size was valued at USD 2.23 billion in 2022 and is predicted to reach USD 4.56 billion by 2032. Also, the study states that the market reveals a robust 7.4% Compound Annual Growth Rate (CAGR) over the predicted timeframe, 2023-2032.
What is Blood Group Typing? How Big is Blood Group Typing Market Size?
Blood typing is a test that decides a person’s blood type. The test is necessary to determine if one needs a blood transfusion or if one is planning to donate blood. Not all blood types are friendly, so it is crucial to know the blood group. Acquiring blood that is conflicting with blood type could activate a detrimental immune response. The rapidly rising demand for blood group typing industry can be attributed to the fact that blood typing is a speedy and simplified method to sanction that one receives the appropriate kind of blood in the course of surgery or subsequent to an injury. If conflicting blood is given to a patient, it can cause blood clumping agglutination and can be fatal.
Blood group typing market growth can be attributed to the escalating demand for blood transfusion and organ transplantation. The escalation in donations during the course signals that the aggregate of blood group typing processes has also escalated. Additionally, because of the escalation in the cases of tragedies, instances of abrasion and injuries have escalated profoundly. Thus, in such cases, a huge blood transfusion is carried out as a treatment.
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What are the Key Findings of the Report?
- Instances of abrasion and injuries have escalated profoundly. Thus, in such cases, huge blood transfusion is carried out as a treatment, which is spiraling market growth.
- The blood group typing market segmentation is primarily based on product type, test type, techniques, and region.
- North America dominated the market with the largest market share in 2022.
Who Produces Blood Group Typing?
- Bio-Rad Laboratories, Inc.
- BioArray Solutions Ltd.
- BioMérieux SA
- Bio-Rad Laboratories, Inc.
- Danaher Corporation
- Grifols International S.A.
- Immucor, Inc. (acquired by TPG Capital)
- Merck KGaA (Merck Millipore)
- Ortho Clinical Diagnostics, Inc.
- Quotient Limited
- Reagen LLC
- Sekisui Medical Co. Ltd.
- Thermo Fisher Scientific, Inc.
- Tulip Diagnostics (Pvt.) Limited
- Wieslab AB
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- Which Factors are Driving the Market Growth?
The demand for blood transfusion has been escalating because of a surge in road accidents, injury cases, and calamities, which has consequently pushed the growth of blood group typing. The blood group typing market size is expanding as precise blood typing is crucial to sanction secure blood donation and transfusion and recognize the existence of the Rh factor. The augmenting usage of blood group typing in spheres such as forensic sciences and also caused market growth.
Additionally, there has been a robust surge in the demand for blood and blood constituents covering the region for several medical and surgical approaches. The blood group typing market sales are soaring as the increasing instances of government undertakings to create consciousness regarding discretionary blood donations will assist in a growing number of donations among the people in the course of the forecast period.
- What are the Latest Market Trends and Opportunities?
The unfolding of contemporary molecular techniques has converted the topography of blood group typing. Polymerase Chain Reaction (PCR) and Next-Generation Sequencing (NGS) have brought a contemporary age of preciseness and efficacy in blood typing. These procedures sanction the precise recognition of blood group antigens even in the instance of infrequent variants, a crucial element in sanctioning stable transfusions and flourishing transplants.
Additionally, blood group typing performs a critical part in customized medicine. Comprehending a patient’s blood group is important for customizing cures, particularly in oncology and other restricted fields. This customized viewpoint sanctions that therapies are not only successful but also secure for the person.
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Blood Group Typing Market: Report Scope
|Revenue Forecast in 2032
|USD 4.56 Billion
|Market size value in 2023
|USD 2.39 Billion
|Expected CAGR Growth
|7.4% from 2023 – 2032
|2023 – 2032
|By Product Type, By Test Type, By Technique, By Region
|Customized purchase options are available to meet any research needs. Explore customized purchase options
Overview of the Top Segments
- Consumables Segment Dominated the Market
Based on product type, the consumables segment dominated the market. The blood group typing market demand is on the rise, which can be attributed to the surge in surgical processes such as organ transplantation, which stipulates the usage of serological fluids and reagents in laboratories. The increasing scope of blood donations causing an escalated proportion of blood sample analysis is also a notable bestowing factor. Additionally, the advancement of diagnostic test reagents and kits targeted at accelerating undeniable consequences is anticipated to strengthen the growth orientation.
Additionally, with a growing pervasiveness of detrimental illnesses, surgical medications, and trauma instances, there is a growing demand for blood transfusions globally. Precise blood group typing is essential to prohibit unfavorable responses, rendering it an essential constituent of contemporary healthcare.
- The ABO Blood Test Segment is Anticipated to Witness the Highest Growth
Based on application, the ABO blood test segment is anticipated to witness the highest growth. The blood group typing market trends include these tests assisting in deciding a person’s A, B, AB, and O blood type, which is important for secure blood transfusions and organ transplants. The growing demand for blood transfusions, a surge in injured cases, and a rise in surgical processes have all resulted in the requirement for precise ABO testing.
Further, ABO blood tests also play an important part in prenatal care, forensics, and customized medicines. The development in demand for these tests has been additionally sped up by progressions in testing techniques that offer speedy and accurate results, sanctioning patient security and efficacious medical mediations.
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North America: This region held the largest blood group typing market share due to it being a crucial constituent of transfusion medicine. The region boasts of a progressive healthcare framework sanctioning a worldwide approach to precise typing services. Meticulous ministerial degrees ascertain superior blood typing which is important for secure transfusion and organ transplants. The existence of detrimental illnesses and maturing populations additionally highlights the noteworthiness of accurate blood typing. Progressive technologies involving molecular techniques such as PCR and NGS have become essential to the procedure.
Asia Pacific: This region is anticipated to witness the highest growth rate due to it being intrinsic to transfusion medicine. The manifold population, involving several nationalities and blood types, compels accurate typing for precise transfusions and organ transplants. Progressive methodologies such as PCR and NGS are growingly acquired, improving preciseness. The region’s notable thrust of detrimental illnesses and surgeries additionally accentuates the importance of precise blood typing.
Browse the Detail Report “Blood Group Typing Market Share, Size, Trends, Industry Analysis Report, By Test Type (HLA Typing, ABO Blood Test, Antibody Screening, Cross-matching Tests, Antigen Typing); By Product Type; By Technique; By Region; Segment Forecast, 2023- 2032” with in-depth TOC at: https://www.polarismarketresearch.com/industry-analysis/blood-group-typing-market
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- In November 2022, Bio-Rad Laboratories, Inc. partnered with NuProbe USA for exclusive licensing and product development. As per the terms, NuProbe USA will grant Bio-Rad exclusive rights to its allele enrichment technologies for the advancement of multiplexed digital PCR assays. This strategic partnership marks a crucial development in enhancing capabilities in the field of genomics and molecular diagnostics.
Polaris Market Research has segmented the blood group typing market report based on product type, test type, technique, and region:
Report Answers to the Following Questions
- What is the study period of the blood group typing market?
- At what CAGR is the market expected to grow?
- Which segments are covered in the report?
- Who are the market’s key players?
- Which region holds the largest blood group typing market share?
- What are the prominent drivers for the market growth?
By Product Type Outlook
By Test Type Outlook
- HLA Typing
- ABO Blood Test
- Antibody Screening
- Cross-matching Tests
- Antigen Typing
By Technique Outlook
- Assay-based Techniques
- PCR-based and Microarray Techniques
- Massively Parallel Sequencing Techniques
By Region Outlook
- North America (U.S., Canada)
- Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia)
- Asia Pacific (Japan, China, India, Malaysia, Indonesia, South Korea)
- Latin America (Brazil, Mexico, Argentina)
- Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)
About Polaris Market Research:
Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for PMR’s clientele spread across different enterprises. We at Polaris are obliged to serve PMR’s diverse customer base present across the industries of healthcare, technology, semiconductors, and chemicals among various other industries present around the world. We strive to provide PMR’s customers with updated information on innovative technologies, high-growth markets, emerging business environments, and the latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities. Adept with a highly competent, experienced, and extremely qualified team of experts comprising SMEs, analysts, and consultants, we at Polaris endeavor to deliver value-added business solutions to PMR’s customers.
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