Blood Screening Market to Reach USD 7.37 Billion By 2031, Growing at a CAGR of 11.8%

Blood Screening Market

SNS Insider, a leading market research and consulting agency, reports that the Blood Screening Market was estimated at USD 3.02 billion in 2023 and is expected to reach USD 7.37 billion by 2031, growing at a compound annual growth rate (CAGR) of 11.8% during the forecast period of 2024-2031. This data was derived from a recent report published by UnivDatos Markets Insights.

Market Dynamics:

  • Increasing Demand for Blood Screening Tests: The rising prevalence of infectious diseases, growing awareness about the importance of blood screening, and advancements in screening technologies are driving the growth of the blood screening market.
  • Technological Advancements in Blood Screening: Innovations in screening techniques, such as nucleic acid testing (NAT) and next-generation sequencing (NGS), are improving the accuracy and efficiency of blood screening tests, thereby boosting market growth.
  • Growing Healthcare Expenditure: Increasing healthcare expenditure globally, coupled with government initiatives to enhance blood safety, is supporting the expansion of the blood screening market.
  • Rising Blood Donation Rates: The growing number of blood donations worldwide is contributing to the demand for blood screening tests to ensure the safety of blood transfusions.

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Blood Screening Market

Segmentation Analysis:

The market can be segmented based on:

  • Product Type: Reagents & Kits, Instruments, Software & Services
  • Technology: Nucleic Acid Testing (NAT), Enzyme-Linked Immunosorbent Assay (ELISA), Rapid Tests, Next-Generation Sequencing (NGS), Others
  • End-User: Hospitals & Clinics, Blood Banks, Diagnostic Centers, Others
  • Region: North America, Europe, Asia-Pacific, Latin America, Middle East & Africa

Key Players:

Major players in the Blood Screening Market include:

  • Bio-Rad Laboratories, Inc.
  • Abbott Laboratories
  • F. Hoffmann-La Roche Ltd
  • Thermo Fisher Scientific Inc.
  • Grifols, S.A.
  • Ortho Clinical Diagnostics
  • Becton, Dickinson and Company (BD)
  • Siemens Healthineers

Future Outlook:

The Blood Screening Market is expected to witness significant growth driven by the increasing demand for blood screening tests, technological advancements in screening technologies, and rising healthcare expenditure. Ongoing research and development in blood screening technologies are likely to lead to further innovations in the market.

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