Market Research Future (MRFR) has published a Half cooked research report on the “Global Blood Grouping Reagents Market” that contains the information from 2018 to 2027.
The blood grouping reagents market is expected to register a CAGR of 7.74% during the forecast period.
MRFR recognizes the following companies as the key players in the global blood grouping reagents market— Merck KGaA (Germany), Bio-Rad Laboratories, Inc (US), Novacyt Group (France), Beckman Coulter, Inc (US), Haemokinesis Pty Ltd (Australia), MTC Med. Produkte GmbH (Germany), DAY medical SA (Switzerland), Rapid Labs Ltd (UK), Ortho Clinical Diagnostics (US), Diagast SAS (France).
The global blood grouping reagents market is expected to register a CAGR of 7.74% during the forecast period and is expected to hit USD 2,642.17 million by 2027.
Blood grouping reagents are solutions that can be used to determine ABO, Rhesus, Kell and MNS blood groups These classifications of human blood are all based on the presence or absence of certain antigens on the surface of red blood cells.
The growth of the global blood grouping reagents market is expected to be driven by increasing prevalence of chronic disorders, increasing spending in medical research. However, concern pertaining to efficiency and proficiency of test kits hamper the growth of this market.
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The global blood grouping reagents market is mainly segmented into product, technique, and test type, end user. On the basis of product, the blood grouping reagents market has been bifurcated into consumables and instruments. Instruments is further sub-segmented into fully automated and semi-automated. Technique products are further sub segmented into PCR-based and microarray techniques, assay-based techniques, massively parallel sequencing techniques, serology, and other techniques. The serology segment is further sub-segmented into gel technique, erythrocytes magnetised technology (EMT), solid-phase red-cell adherence (SPRCA), glass slide, glass tube, cassette/kits, and others. On the basis of test type, the blood grouping reagents market has been bifurcated into blood group and phenotypes, antibody screening, crossmatching tests, antibody identification, Coombs’s test, and antigen typing. Based on end user, the market is categorized into hospitals, blood banks, and clinical laboratories.
The global blood grouping reagents market has been segmented on the basis of region into North America, Europe, Asia-Pacific, and Rest of the World. The North America held the largest market share of 37.74% in 2020 and is anticipated to dominate the overall blood grouping reagents market during the forecast period.
The major factors driving North America blood grouping reagents market include the presence of major manufacturers, increasing prevalence of chronic diseases leading to the high demand for blood transfusion and organ transplant, technological advancements in the clinical segment, and increasing awareness among the population. For instance, according to Health Resources & Services Administration, 39,000 transplants were performed in 2020. The key manufacturers are anticipated to launch new products, collaborate for optimization of the cash flow channel, and partially outsource the production process.
Europe holds the second largest market share due to the increasing number of medical device manufacturers, improving economies, high disposable income per individual, and increased healthcare spending are driving the growth of the market in this region. Moreover, the availability of high-end technologies in countries like Germany and growing funding from the various public as well as private sources to conduct advanced research are fostering market growth.
Asia-Pacific is the fastest-growing regional market for blood grouping reagents due to the increasing R&D funding by developing countries such as China and India for the development of the healthcare infrastructure. Various other factors that influence the markets growth include the growing incidence of traumatic injuries from accidents and trauma in the region. Increasing demand for blood banking services, government initiatives and increasing public awareness about blood donation are driving the market's growth in this region. Globally, road accidents are the tenth leading cause of death. India accounted for about 500,000 road accidents in 2019, one of the highest in the world, in which about 150,000 people die and another 300,000 became crippled. In 2018, India had 467,044 reported road accidents, an increase of 0.5% from 464,910 in 2017, according to the road ministry's data. Moreover, in 2018, 63,194 traffic accident fatalities were recorded by China's National Bureau of Statistics. Many road accidents causing traumatic injuries are anticipated to increase the demand for blood grouping reagents in the region.
The blood grouping reagents market in the Middle East & Africa is expected to witness steady growth due to the increasing number of companies and subsidiaries in the region offering treatment options. The rest of the world, with fewer economic developments, accounted for the least market share in 2020 but is expected to grow with the increasing awareness among people and demand for better healthcare facilities in countries along with the rising disposable income. Moreover, improvement in regulatory structures in the region is further anticipated to drive the growth of the blood grouping reagents market.
Key Findings of the Study