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Blood Group Typing Market Size

Report ID: GMI5341
Published Date: Sep 2022
Report Format: PDF

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Blood Group Typing Market Size

Blood Group Typing Market size surpassed USD 1.5 billion in 2021 and is expected to grow at a CAGR of over 7.5% between 2022-2030. Growing need for blood transfusion procedures and a rising number of road accidents will push the industry growth.

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A rise in the number of road accidents and injuries worldwide is projected to accelerate the need for blood group typing consumables and services. Excessive loss of blood is considered to be one of the major causes of death after road accidents and injuries. Globally, hemorrhagic shock has a death rate of 55.9 in every 100,000 individuals. The urgent need to undertake blood transfusion procedures in such instances will boost the demand for blood typing tests and related instruments.

Blood typing plays a crucial role in blood transfusion and donations. It is a fast and easy method used to ensure that the donor and recipient are compatible to avoid any complications. It is extremely vital in pregnant women as incompatible blood transfusion can result in agglutination or blood clumping, which is essentially fatal.

Blood Group Typing Market Report Attributes
Report Attribute	Details
Base Year:	2021
Blood Group Typing Market Size in 2021:	USD 1.5 Billion
Forecast Period:	2022 to 2030
Forecast Period 2022 to 2030 CAGR:	7.5%
2030 Value Projection:	USD 3 Billion
Historical Data for:	2017 to 2021
No. of Pages:	165
Tables, Charts & Figures:	234
Segments covered:	Components, Technique, Test Type, End-use, and Region
Growth Drivers:	Growing number of road accidents, emergencies and trauma cases necessitating blood transfusion Several blood donation campaigns undertaken by various organization Increasing demand for blood group typing in prenatal testing
Pitfalls & Challenges:	Increasing prevalence of Transfusion Transmitted Infections (TTIs)

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Rising incidences of Transfusion Transmitted Infections (TTIs) will propel the market revenue. TTI infections such as HIV, hepatitis C virus (HCV), and hepatitis B virus (HBV) are an increasing concern in low-income and lower-middle-income economies.

Authors: Mariam Faizullabhoy, Gauri Wani

Frequently Asked Questions (FAQ) :

The global market for blood group typing surpassed USD 1.5 billion during 2021 and is estimated to witness over 7.5% CAGR between 2022-2030, with increased occurrence of trauma-related injuries and road accidents.

Antigen testing segment accounted for more than 20% revenue share in 2021 and is anticipated to witness a surge in demand owing to a faster turnaround time, cost-effectiveness, and ease of use.

North America held over 30% business share in 2021 and will further grow due to strong presence of major industry players, high healthcare spending and regulatory approvals for innovative products.

Grifols, S.A., Immucor, Quotient, BAG Diagnostics GmbH, Bio-Rad Laboratories, Inc., Agena Bioscience, and Rapid Labs Ltd are some of the leading companies in blood group typing market.