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What Is The Predicted Market Size Of The Blood Screening Industry By 2029?
The dimension of the blood screening market has witnessed a robust expansion in the preceding years. The market value is set to escalate from $3.15 billion in 2024 to $3.44 billion in 2025, showcasing a compound annual growth rate (CAGR) of 9.4%. The historical growth trajectory is primarily due to the escalating demand for blood transfusion, the growing incidence of communicable diseases, prevailing government norms and standards, enhancement in blood donations and collections, as well as worldwide health apprehensions and pandemics.
The size of the blood screening market is predicted to significantly increase in the years to come, expanding to a worth of $5.33 billion in 2029 with a compound annual growth rate (CAGR) of 11.5%. Factors contributing to this predicted growth within the forecast period include developing healthcare infrastructure, public health education initiatives, progress in infectious disease detection techniques, and global health risks and readiness for pandemics. Looking forward, key trends in the period include a surge in infectious diseases, improved automation and efficiency, growing necessities for blood transfusions, an emphasis on the safety of these transfusions, and investigations into pathogen identification.
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Which Factors Are Steering Growth In The Blood Screening Market?
The rise in infectious diseases is anticipated to fuel the expansion of the blood screening market. Blood tests are routinely conducted to identify disease symptoms by searching for a specific antibody produced in response to the infectious agent, assisting healthcare providers in managing infectious diseases and hindering further infection transmission in patients and person-to-person disease spread. For example, the National Center for Biotechnology Information, a US government entity, reported in June 2022 that the incidence of infectious diseases in outpatient care has nearly tripled over two decades, rising from 8 to 26 per 1,000. As a result, the escalating prevalence of infectious diseases is contributing to the growth of the blood screening market.
Which Segment Accounts For The Largest Share In The Blood Screening Market?
The blood screeningmarket covered in this report is segmented –
1) By Product: Reagents And Kits; Instruments; Software And Services
2) By Technology: Nucleic Acid Testing; Enzyme-Linked Immunosorbent Assay (ELISA); Rapid Tests; Western Blot Assays; Next-Generation Sequencing (NGS)
3) By End User: Blood Banks; Diagnostic Centers And Pathology Labs; Hospitals; Clinics; Ambulatory Surgical Centers (ASCs)
Subsegments:
1) By Reagents And Kits: Diagnostic Reagents; Testing Kits
2) By Instruments: Automated Analyzers; Manual Testing Equipment
3) By Software And Services: Laboratory Information Management Systems (LIMS); Data Analysis Software; Support And Consulting Services
Which Disruptive Trends Are Driving Change Across The Blood Screening Market?
Leading entities in the blood screening market are exploring technologies like liquid biopsy to advance the early detection of cancer, refine treatment tracking, and facilitate personalized medicine strategies. The liquid biopsy is a non-invasive examination that analyzes blood or other bodily fluids for the presence of cancer cells or tumor genetic material. For instance, in November 2023, Shield blood-based screening tests were launched by a US-based biotech firm, Guardant Health, Inc. This Shield test scrutinizes cell-free DNA (cfDNA) in blood circulation, which can suggest the existence of colorectal tumors or precancerous growths. It particularly searches for modifications in DNA fragments circulating in the blood due to the presence of cancer cells.
Who Are The Dominant Players In The Blood Screening Market Today?
Major companies operating in the blood screening market include Abbott Laboratories, Grifols S.A., Becton Dickinson and Company, F. Hoffmann-La Roche AG, bioMérieux S.A., Bio-Rad Laboratories Inc., Thermo Fisher Scientific Inc., Ortho Clinical Diagnostics Inc., Beckman Coulter Inc., Siemens Healthineers AG, GE Healthcare, DiaSorin S.p.A., Merck KGaA, PerkinElmer Inc., Bio-Techne Corporation, Roche Diagnostics GmbH, Danaher Corporation, Sysmex Corporation, Natera Inc., GenMark Diagnostics Inc., QIAGEN N.V., Hologic Inc., Luminex Corporation, Trinity Biotech plc, Fujirebio Inc., OraSure Technologies Inc., Immunetics Inc., Accelerate Diagnostics Inc., Cepheid Inc., T2 Biosystems Inc., Haemonetics Corporation, HTG Molecular Diagnostics Inc., Verax Biomedical Inc.
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What Regional Factors Are Accelerating Growth In The Blood Screening Market?
North America was the largest region in the blood screening market in 2024. The regions covered in the blood screening market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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