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What Is the Growth Rate of the Blood Screening Market?

The size of the blood screening market has seen significant expansion in the recent past. It is projected to increase from $3.15 billion in 2024 to $3.45 billion in 2025, reflecting a compound annual growth rate (CAGR) of 9.6%. The past growth can be explained by the increase in the need for blood transfusions, the surge in transmissible diseases, governmental rules and standards, a rise in blood donations and collections, and endemic health issues worldwide.

What Growth Rate Is Forecasted for the Blood Screening Market by 2029?

Anticipations are high for the blood screening market to experience robust expansion in the coming years, with the market projected to reach a value of $5.37 billion by 2029, growing at a Compound Annual Growth Rate (CAGR) of 11.7%. Factors that would contribute to this development in the projected period include enhancement of healthcare facilities, public health education initiatives, progress in the methods of diagnosing contagious diseases, general health issues, and readiness for pandemics. Notable trends during the forecast period consist of an increase in infectious ailments, automation and efficiency improvements, elevated demands for blood transfusion, emphasis on transfusion safety, and investigations on pathogen detection.

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Which Key Companies Are Shaping the Future of the Blood Screening Market?

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.

Which Factors Are Driving Demand in the Blood Screening Industry?

The rise in the occurrence of infectious diseases is set to boost the advancement of the blood screening market. Blood tests are frequently performed to check for signs of sickness by identifying a particular antibody produced against the infecting organism, which assists doctors in treating infectious diseases and halting further infection spread in patients and the transmission of disease from person to person. For example, the National Center for Biotechnology Information, a government agency in the US, reported in June 2022 that over the past 20 years, the incidence of infectious diseases in outpatient care has almost tripled, from 8 to 26 per 1,000. Therefore, the surge in the occurrence of infectious diseases is propelling the growth of the blood screening market.

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How Is the Blood Screening Market Segmented by Several Divisions?

The blood screening market 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

What are the Emerging Market Trends Driving the Growth of the Blood Screening Industry?

Key stakeholders in the blood screening market, such as Guardant Health, Inc., are advancing technologies like liquid biopsy. This development stands to improve early cancer detection, streamline treatment monitoring, and facilitate personalized medical treatments. Liquid biopsy serves as a less aggressive testing method that examines blood and other bodily fluids to identify cancer cells or tumor DNA. For example, in November 2023, the American biotech company Guardant Health, Inc. introduced Shield, a blood-based screening test. This particular test investigates cell-free DNA (cfDNA) circulating in the blood, signaling the potential existence of colorectal tumors or precancerous formations. It particularly targets changes in DNA fragments that cancer cells release into the bloodstream.

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Which Regions Are Driving 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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This Report Delivers Insight On:

1. How big is the blood screening market, and how is it changing globally?

2. Who are the major companies in the blood screening market, and how are they performing?

3. What are the key opportunities and risks in the blood screening market right now?

4. Which products or customer segments are growing the most in the blood screening market?

5. What factors are helping or slowing down the growth of the blood screening market?

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