The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

As per The Business Research Company’s Blood Screening Global Market Report 2023, the blood screening market is expected to show significant growth in the forecast period.

The global blood screening market is experiencing a profound evolution, marked by a projected growth from $2.65 billion in 2022 to $2.92 billion in 2023, with a remarkable CAGR of 10.1%. As we anticipate this trajectory, let’s delve into the factors driving this surge and the key trends shaping the market landscape.

The Pervasive Threat: Increasing Prevalence of Infectious Diseases

• The blood screening market is set to soar due to the rising prevalence of infectious diseases globally.
• Blood analysis plays a crucial role in identifying antibodies against infectious agents, aiding in timely treatment and prevention of further transmission.
• Notably, tuberculosis claimed 1.6 million lives worldwide in 2021, according to the World Health Organization (WHO). Malaria cases also surged, reaching 241 million in 2022, with an alarming prediction of 627,000 fatalities, emphasizing the urgency for robust blood screening.

Market Leaders: Pioneering Progress in Blood Screening

• Major players like Abbott Laboratories, Grifols S.A, and Becton Dickinson and Company are instrumental in steering the blood screening market.
• These industry giants contribute to shaping advancements in blood screening technologies, ensuring the market’s continuous growth and adaptability.

Innovation Unleashed: Transforming Blood Screening Technology

• Product innovation emerges as a prominent trend, with companies investing in research and development for groundbreaking solutions.
• Intuity Medical, Inc., a US-based company, showcased innovation with the POGO system, an automatic blood glucose monitoring device, in November 2021.
• The POGO system’s 10-test cartridge technology offers a streamlined testing experience, eliminating the need for additional strips and lancets and providing results in a rapid four-second countdown.

Market Segmentation: A Diverse Landscape of Blood Screening Solutions

• The blood screening market is intricately segmented, reflecting the diverse offerings in products, technology, and end-users.
• Product Segmentation: Reagents and Kits, Instruments, Software and Services
• Technology: Nucleic Acid Testing, Enzyme-Linked Immunosorbent Assay (ELISA), Rapid Tests, Western Blot Assays, Next-Generation Sequencing (NGS)
• End Users: Blood Banks, Diagnostic Centers and Pathology Labs, Hospitals, Clinics, Ambulatory Surgical Centers (ASCs)

Global Dynamics: North America at the Helm, with Potential in Asia-Pacific

• In 2022, North America emerged as the leader in the blood screening market, underscoring its significance in driving market dynamics.
• However, the spotlight is also turning toward Asia-Pacific, poised for substantial growth and positioning itself as a potential powerhouse in the blood screening market.

Future Projections: A Journey Towards $4.24 Billion by 2027

• The blood screening market’s trajectory is set to reach $4.24 billion in 2027, with a CAGR of 9.7%, reflecting the continuous demand for advanced screening solutions.
• The industry’s commitment to innovation and addressing global health challenges positions it for sustained growth and impact.

View More On The Blood Screening Market Report 2023 – https://www.thebusinessresearchcompany.com/report/blood-screening-global-market-report

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The Blood Screening Global Market Report 2023  provides an in-depth analysis on the blood screening market size, trends and drivers, opportunities, strategies, and companies analysis. The countries covered in the blood screening market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

View More Related Reports –
Blood Transfusion Diagnostics Global Market Report 2023
Hemostasis Analyzers Global Market Report 2023
Blood Glucose Meters Global Market Report 2023

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