Blood Transfusion Diagnostics Global Market Report 2020

The Business Research Company’s Global Blood Transfusion Diagnostics Market Report 2020

LONDON, GREATER LONDON, UK, August 19, 2020 /EINPresswire.com/ -- The growing demand for advanced diagnostic measures and growing prevalence of infectious diseases associated with pathogens such as bacteria & viruses has increased the preference for nucleic acid amplification testing (NAAT/NAT) to increase blood safety, improve efficiency and reduce turnaround time of the results. NAT is a technique that helps detect a particular nucleic acid, virus, or bacteria which acts as a pathogen in blood, tissue, or urine. NAT is highly sensitive and specific for viral nucleic acids, and amplifies the region of targeted viral DNA, helping detect them earlier than other traditional methods and narrowing the period of infectious diseases. For example, in 2018, XCRP Diagnostic Inc. and Luminex Corporations entered into a licensing agreement of XCR Diagnostic’s Xtreme Chain Reaction Nucleic Acid Amplification Technology. In this deal, Luminex got the exclusive rights to use XCR Diagnostic’s NAAT technology for their future molecular diagnostic portfolio.

The global blood transfusion diagnostics market size was valued at about $3.69 billion in 2018 and is expected to grow to $4.71 billion at a CAGR of 6.3% through 2022. Patients undergoing surgical procedures need a blood transfusion to replace lost blood during the procedure. Blood transfusion diagnostics are used during procedures to screen the blood before transferring it to the patient, which could otherwise increase the incidence of infectious disease.
According to the Organization for Economic Co-operation and Development (OCED) in the UK, there were 491,604 surgical procedures in 2016 compared to 354,870 in 2006, a 38% increase. This increase in number of procedures will thereby drive the blood transfusion diagnostics market growth rate.

The blood transfusion diagnostics market consists of sales of blood transfusion diagnostics devices and related services. The related services here includes only installation and maintenance services offered by equipment manufacturers. Blood transfusion diagnostics are devices which are used to conduct tests before transfusion of blood from donor-recipient, such as blood grouping disease screening.

The blood transfusion diagnostics market is highly regulated by governing bodies such as the USFDA (the USA Food and Drug Administration), and Medicines and Healthcare products Agency (MHRA). For instance, the manufacturers and service providers in the USA must comply with the Center for Biologics Evaluation and Research (CBER) Regulations that have been published in the first chapter title 21 of Code of Federal Regulations (CFR). Part 600 of CFR 21 primarily focuses on the established standards like retention samples conditions, temperature to be maintained during shipment, sterilization of equipment, and role and duties of the inspector to inspect the laboratories. The regulation also allows the manufacturer to report any kind of deviation of their product from their intended purpose.

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