Instruments & Kits Segment to Emerge as Prominent Blood Transfusion Diagnostics Product Segment According to our latest study, titled "Blood Transfusion Diagnostics Market Forecast to 2028 - COVID-19 Impact and Global Analysis - by Product, Application, and End User," the market is projected to reach US$ 6,483.75 million by 2028 from US$ 4,096.93 million in 2021. It is expected to grow at a CAGR of 6.9% from 2022 to 2028. The report highlights the key factors driving the market growth and prominent players with their developments in the global blood transfusion diagnostics market.

Need for Blood Transfusion due to Rise in Organ Transplants Surgeries Organ transplant is a surgical procedure performed in case of organ failure. Usually, organ transplant surgeries are conducted for the heart, liver, kidney, and various other organs due to the rising cases of chronic diseases, such as chronic kidney disease (CKD), polycystic kidney disease, cystic fibrosis, and congenital heart disease, which require transplants. These procedures generally take hours, and there is a lot of blood loss and requires the need for blood transfusion. For instance, according to the United Network for Organ Sharing (UNOS), organ transplants conducted in the US have continuously increased, with over 41,000 transplants performed in 2021. Similarly, according to World Transplant Registry data, Spain accounted for 20% of all organ donations in Europe in 2019 and 6% worldwide. Australia's organ donor rate has improved recently, rising to 21.8 donors per million population in 2019.

The outbreak of the COVID-19 pandemic significantly hampered the global blood transfusion diagnostics market. The market demonstrated a huge decline in revenue due to stringent restrictions imposed by the government resulting in decreasing number of surgical procedures performed. The blood transfusion devices are mainly used in surgeries with high blood loss, such as orthopedic and cardiac surgeries. Due to decreasing number of surgeries performed, the demand for autologous blood transfusion devices reduced. For instance, according to the data published by American Medical Association (AMA), a 48% reduction was estimated in total surgical procedures performed in the US due to the COVID-19 pandemic. However, after the pandemic restrictions normalized, the volume of surgical procedures returned to normal levels. Thus, the overall COVID-19 impact on the North America Blood Transfusion Diagnostics market is negative, but the market is regaining traction and is expected to grow in the coming years.

Based on product, the global blood transfusion diagnostics market is bifurcated into instruments & kits and reagents. The Instruments & Kits segment is likely to account for a larger market share during the forecast period. By application, the market is bifurcated into blood screening and blood grouping. The blood screening segment held a larger market share in 2021 and is projected to continue its dominance during the forecast period. By end user, the market is segmented into blood banks, hospitals, diagnostic laboratories, and plasma fractionation companies. The blood banks segment held the largest market share in 2021 and is likely to continue its dominance during the forecast period.

The public-private partnership, in collaboration with transplant coordinators, has significantly contributed to the improvement of organ transplants requiring constant blood transfusion. Both developing and developed countries have seen an increase in organ transplant surgeries. For instance, developing countries, such as India and Singapore, are emerging as medical tourism destinations in Asia Pacific. These developing countries are progressing in terms of providing better and advanced medical treatments. The rising need for organ transplants is among the key factors driving the demand for blood transfusion diagnostics worldwide.

BAG Diagnostics GmbH; Abbott; Bio-Rad Laboratories, Inc.; F. Hoffmann-La Roche Ltd; DiaSorin S.p.A.; Grifols, S.A.; Immucor, Inc.; Thermo Fisher Scientific Inc.; Ortho Clinical Diagnostics; and Quotient Limited are the leading companies operating in the global blood transfusion diagnostics market.

In terms of geography, the report segments the global blood transfusion diagnostics market as follows:

Based on geography, the global blood transfusion diagnostics market is primarily segmented into North America, Europe, Asia Pacific, Middle East and Africa (MEA), and South and Central America. The market in North America is further segmented into the US, Canada, and Mexico. The Europe market is sub-segmented into Germany, the UK, France, Italy, Spain, and the Rest of Europe. The market in the Asia Pacific is sub-segmented into China, Japan, India, Australia, South Korea, and the Rest of APAC. The blood transfusion diagnostics market in the MEA is further segmented into South Africa, Saudi Arabia, the UAE, and the Rest of the MEA. The South and Central America market is sub-segmented into Brazil, Argentina, and the Rest of South and Central America.

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