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Rising prevalence of infectious diseases is a key factor driving blood screening market revenue growth

VANCOUVER, BRITISH COLUMBIA, CANADA, June 26, 2023/EINPresswire.com/ -- The global blood screening market size was USD 1.69 Billion in 2021 and is expected to register a steady revenue CAGR of 12.2% during the forecast period, according to latest analysis by Emergen Research. Increasing prevalence of infectious diseases, rising tendency of blood donation and government initiations to healthcare, and technological advancements in blood screening are some of the key factors driving market revenue growth.

Increasing prevalence of infectious diseases, especially Hospital-Acquired Infections (HAIs) is rising demand for this testing. Nosocomial infections are HAIs that patients develop while undergoing medical or surgical treatment. Hospitals, surgical centers, ambulatory clinics, and long-term care are some places where HAIs can occur. Patients who develop infections after surgery stay in the hospital for an additional 6.5 days on average, are twice as likely to die and more likely to be readmitted after being released. Furthermore, Intensive Care Unit (ICU) admission is required 60% more frequently for surgical patients who contract infections. Centers for Disease Control (CDC) estimates that HAIs cause 1.7 million infections and 99,000 deaths annually in American hospitals alone. Urinary tract infections account for 32% of HAIs, followed by surgical site infections (22%), pneumonia (15%), and bloodstream infections (14%).

There is a high demand for novel methods that can reliably identify causes of viral illnesses to treat and prevent them effectively. Many diagnostic methods with enhanced sensitivity and specificity for detection of common and/or unidentified plant viruses are continuously being developed owing to developments in biochemical and molecular biology techniques.

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Competitive Landscape:

Furthermore, the report includes an in-depth analysis of the competitive landscape. The segment covers a comprehensive overview of the company profiles along with product profiles, production capacities, products/services, pricing analysis, profit margins, and manufacturing process developments. The report also covers strategic business measures undertaken by the companies to gain substantial market share. The report provides insightful information about recent mergers and acquisitions, product launches, collaborations, joint ventures, partnerships, agreements, and government deals.

Some Key Highlights From the Report
The nucleic acid testing segment accounted for largest revenue share in the blood screening market in 2021. This is due increasing adoption of nucleic acid testing, which is a molecular method for screening blood donations to lower risk of Transfusion-Transmitted Illnesses (TTIs) in recipients. Many viral and chronic diseases can be treated with a molecular diagnostic tool.

The western blot assay segment accounted for a significantly fast revenue growth rate in the global blood screening market in 2021 owing to rapid use of western blot assay in protein purification testing. Several companies are launching this assay for rapid use in blood screening detection. For instance, on 11 January 2023, Azure Biosystems Inc. announced the release of chemiSOLO, a high-performance, personal chemiluminescent Western Blot Imager that can be controlled by a smartphone, tablet, or laptop via a novel web-based interface, eliminating the need for a dedicated computer. 

The North America market accounted for largest revenue share in the global blood screening market in 2021 due to rising number of blood donations or blood transfusions. Blood transfusions are required daily in hospitals and emergency rooms in the U.S. According to the Centers for Disease Control and Prevention, in the U.S., every unit of blood donated is screened for different infectious disease pathogens using FDA-approved assays. Every year, there are close to 11 Billion blood donors and over 14 Billion units of blood are transfused in this region.

key question of Blood Screening Market 
What is the current market size and projected growth rate of the Blood Screening Market?

What factors are driving the growth of the Blood Screening Market?

What are the key technological advancements and innovations in the Blood Screening Market?

What are the major challenges and limitations faced by the Blood Screening Market?

What are the regulatory and compliance requirements for blood screening procedures?

What are the different types of blood screening tests available in the market?

Key Companies Profiled in the Report:

General Electric Company, Bio-Rad Laboratories, Inc., PerkinElmer Inc., Maccura Biotechnology Co., Ltd., Bio-Techne., Abnova Corporation., Merck KGaA, BD, Cellabs, and Enzo Biochem Inc

Additionally, the report covers the analysis of the key players in the industry with a special focus on their global position, financial status, and their recent developments. Porter’s Five Forces Analysis and SWOT analysis have been covered by the report to provide relevant data on the competitive landscape.

Detailed Regional Analysis covers:

North America (U.S., Canada)

Europe (U.K., Italy, Germany, France, Rest of EU)

Asia-Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)

Latin America (Chile, Brazil, Argentina, Rest of Latin America)

Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

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Market Dynamics:

The report offers insightful information about the market dynamics of the Blood Screening market. It offers SWOT analysis, PESTEL analysis, and Porter’s Five Forces analysis to present a better understanding of the Blood Screening market, competitive landscape, factors affecting it, and to predict the growth of the industry. It also offers the impact of various market factors along with the effects of the regulatory framework on the growth of the Blood Screening market.

Blood Screening Market Segmentation:

Technology Outlook (Revenue, USD Billion; 2019-2030)
Nucleic acid testing

Enzyme-Linked Immunosorbent Assay (ELISA)

Real Time Polymerase Chain Reaction (PCR)

Western blot assay

Next Generation Sequencing (NGS)

Product Outlook (Revenue, USD Billion; 2019-2030)
Reagents and kits

Software

Instruments

End-Use Outlook (Revenue, USD Billion; 2019-2030)
Blood bank

Research laboratories

Hospitals

Key Benefits for Stakeholders:

The report provides an extensive analysis of the current and future trends in the global minimally invasive surgical systems market to elucidate the imminent investment pockets.

A detailed analysis of the factors that drive and restrict the growth of the minimally invasive surgical systems market is provided.

Extensive analysis of key segments demonstrates the types of energy devices, access equipment, and visualization & documentation systems used in minimally invasive surgeries.

A comprehensive analysis of the geographical landscape provides detailed information about various regions across North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

The report offers a competitive landscape of the minimally invasive surgical systems market to assist players to gain insights into the competition scenario. Key companies operating in the market are profiled to provide valuable insights.

The report focuses on current and future market growth, technological advancements, volume, raw materials, and profiles of the key companies involved in the market. The report provides valuable insights to the stakeholders, investors, product managers, marketing executives, and other industry professionals.

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Table of Content
Chapter 1. Methodology & Sources

1.1. Market Definition

1.2. Research Scope

1.3. Methodology

1.4. Research Sources

1.4.1. Primary

1.4.2. Secondary

1.4.3. Paid Sources

1.5. Market Estimation Technique

Chapter 2. Executive Summary

2.1. Summary Snapshot, 2022–2030

Chapter 3. Key Insights

Chapter 4. Blood Screening Market Segmentation & Impact Analysis

4.1. Blood Screening Market Segmentation Analysis

Look Over transcripts provided by Emergen Research

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About Us:

Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyse consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.

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