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Blood Transfusion Diagnostics Market Size Worth $5.8 Billion by 2027: Grand View Research, Inc.

SAN FRANCISCO, June 29, 2020 /PRNewswire/ -- The global blood transfusion diagnostics market size is expected to reach a value of USD 5.8 billion by 2027 registering a CAGR of 6.6%, according to a new report by Grand View Research, Inc. Growing prevalence of chronic diseases, such as anemia, sickle cell disease, hemophilia, cancer, and kidney disease, is significantly driving the market growth. According to the Sickle Cell Disease Coalition statistics, globally, the number of sickle cell disease cases is projected to increase by around 30% by 2050.According to NCBI statistics, liver diseases accounts for around 2 million deaths each year globally. Blood transfusion is crucial for patients with such chronic diseases, as it allows to exchange the diseased cells with the healthy RBCs without disrupting the blood viscosity.

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Key suggestions from the report:

  • Reagents and kits is expected to be the largest as well as the fastest-growing product segment from 2020 to 2027
  • The disease screening segment is projected to register the fastest CAGR over the forecast period
  • According to the WHO, screening of donated blood for detecting transfusion transmissible infections, such as hepatitis B & C and HIV, should be mandatory
  • The hospitals end-use segment is estimated to account for the second largest market share by 2027 on account of rising instances of Pretransfusion therapies being performed in hospitals as the therapy requires cross-matching tests between the donor and recipient
  • Asia Pacific is projected to be the fastest-growing regional market due to rising geriatric population, especially in China and Japan

Read 120 page research report with ToC on "Blood Transfusion Diagnostics Market Size, Share & Trends Analysis Report By Product (Reagents & Kits, Instruments), By Application (Blood Grouping, Disease Screening), By End Use (Hospitals, Blood Banks) And Segment Forecasts, 2020 - 2027" at: https://www.grandviewresearch.com/industry-analysis/blood-transfusion-diagnostics-market

According to the National Blood Transfusion Service (NBTS) database, a total of 60,236 donor screening was done between 2010 and 2016 at the National Blood Transfusion Center (NBTC), Eritrea. Among them, at least 3.6% of the donated blood showed positive results for TTI and 0.1% showed positive results for multiple infections. Some of the chronic infectious diseases, such as hepatitis B, hepatitis C, HIV, and syphilis, create the need for accurate donor screening, thus further driving the market growth of diagnostics. Transfusion is commonly used in cases of trauma, road accidents, surgeries, childbirth, and gastrointestinal bleeding to replace major blood losses.

Grand View Research has segmented the global blood transfusion diagnostics market on the basis of product, application, end use, and region:

  • Blood Transfusion Diagnostics Product Outlook (Revenue, USD Million, 2016 - 2027)
  • Blood Transfusion Diagnostics Application Outlook (Revenue, USD Million, 2016 - 2027)
  • Blood Transfusion Diagnostics End-use Outlook (Revenue, USD Million, 2016 - 2027)
  • Blood Transfusion Diagnostics Regional Outlook (Revenue, USD Million, 2016 - 2027)
  • List of Key Players of Blood Transfusion Diagnostics Market

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  • Point of Care Diagnostics Market – Global point of care diagnostics market size was valued at USD 18.8 billion in 2019and is expected to register a CAGR of 3.2% from 2020 to 2027.

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About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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SOURCE Grand View Research, Inc.