Fueled by Rising Incidence of Infectious Diseases, Global Blood Screening Market

Posted by Pramod Arya on February 18th, 2021

The prevalence of various diseases across the globe is rising on a rapid pace. While some mild infections or diseases can be treated by taking proper medication, severe cases often create need for operations and surgeries. Such cases, among many serious cases including injuries, sometimes require blood transfusion. The awareness regarding blood donation has risen considerably, which is why numerous people donate blood, at times, regularly. It is now news that blood transfusion is a serious matter and medical professionals need to take utmost care before and during carrying of such a procedure.

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Owing to the surging prevalence of diseases, the blood screening market generated a revenue of ,402.3 million in 2019, and it is projected to advance at an 8.1% CAGR during the forecast period (2020–2030). Different types of products that are utilized during the blood screening process are software and services, reagents and kits, and instruments. Out of these, the largest demand in the years to come is expected to be created for reagents and kits, as these products are utilized during the very first stage of the blood screening process. These products are used extensively for effective and quick detection of transfusion-transmissible diseases.

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Geographically, North America emerged as the largest blood screening market in 2019, which is attributed to the surging incidence of infectious and respiratory diseases in the region. For example, the region has accounted for the largest number of COVID-19 cases and deaths, i.e. 560,000and 22,000, respectively, as of April 13th 2020. Other than this, the demand for blood screening is also predicted to rise considerable in the Asia-Pacific region in the near future. This is due to the presence of major players, rising incidence of cancer and other chronic diseases, and cost-effective labor. 

Hence, the demand for blood screening is growing on account of growing prevalence of infectious and chronic diseases.