Blood Transfusion Diagnostics Market Trends and Overview

The Blood Transfusion Diagnostics Market was estimated to be worth USD 4.70 billion in 2022. It is projected to reach USD 8.38 billion by 2030, with a compound annual growth rate (CAGR) of approximately 7.2% during the forecast period of 2023-2030.

The field of transfusion diagnostics plays a crucial role in ensuring the safety and efficacy of blood transfusions. With advancements in technology and increasing awareness about the importance of accurate blood typing and screening, the market for transfusion diagnostics is expected to witness significant growth in the coming years.

The estimated market value of USD 4.70 billion in 2022 reflects the current demand for transfusion diagnostics products and services. However, as the need for safe and reliable blood transfusions continues to rise, the market is anticipated to expand rapidly. By 2030, it is projected to reach a value of USD 8.38 billion, indicating a substantial growth opportunity for industry players.

The compound annual growth rate (CAGR) of 7.2% further emphasizes the positive trajectory of the transfusion diagnostics market. This steady growth rate signifies the increasing adoption of advanced diagnostic techniques and the rising demand for blood screening and typing solutions. Factors such as the growing prevalence of chronic diseases, rising number of blood transfusions, and the need for accurate compatibility testing are driving the market's expansion.

During the forecast period of 2023-2030, the transfusion diagnostics market is expected to witness significant advancements in technology and product innovation. These developments will further enhance the accuracy, efficiency, and reliability of blood typing and screening procedures. Additionally, the market is likely to benefit from the increasing investments in research and development activities aimed at improving transfusion diagnostics.

In conclusion, the transfusion diagnostics market is poised for substantial growth in the coming years. With an estimated value of USD 4.70 billion in 2022 and a projected value of USD 8.38 billion by Factors such as the increasing demand for blood and blood products, advancements in technology, and the rising prevalence of chronic diseases are expected to drive the growth of the transfusion diagnostics market.

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KEY MARKET SEGMENTATION:

By Product

• Consumables
• Instruments
• Services

By Technique

• PCR-based and Microarray Techniques
• Assay-based Techniques
• Massively Parallel Sequencing Techniques
• Other Techniques

By Test Type

• Antibody Screening
• HLA Typing
• Cross-matching Tests
• ABO Blood Tests
• Antigen Typing

Major Players Listed in the Report are as Follows:

Grifols, S.A.; Merck KGaA; Bio-Rad Laboratories, Inc.; Immucor, Inc.; Novacyt Group; Danaher Corporation; Agena Bioscience, Inc.; Ortho Clinical Diagnostics; and Quotient, Ltd., and others.

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