Immunohematology Market Size – USD 1.66 Billion in 2018, Market Growth - CAGR of 5.0%, Immunohematology Industry Trends – Product innovation, Mergers & Acquisitions and R&D for advanced Immunohematology
New York, Dec. 04, 2019 (GLOBE NEWSWIRE) -- Increasing patient pool with hematological diseases, high incidence trauma cases, rapid technological developments, rapid expansion of the healthcare sector and increased awareness regarding medical care are key factors contributing to high CAGR of Immunohematology during forecast period.
According to the current analysis of Reports and Data, the global Immunohematology market was valued at USD 1.66 billion in 2018 and is expected to reach USD 2.45 billion by the year 2026, growing at a CAGR of 5.0%. Immunohematology is a branch of “Hematology,” which facilitates the screening of donor blood for antigens, Rh factor, and other blood components such as white blood cells. Commonly known as “Blood Banking,” it prepares blood components for transfusion and helps in reducing transfusion-related diseases such as HIV and thalassemia.
Immunohematology enables safe blood transfusion and transplantation of hematopoietic tissue, as well as prevent the undesired immune-related complications, transplantation, and pregnancy-related issues. High incidence of hematological diseases, increasing demand for platelets, plasma factors, and immunoglobin, the rapid development of blood banks by government and private institutions, and increased awareness regarding the importance of blood-transfusion related diseases are some of the key factors propelling the market growth.
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Technological advancements in the immunohematology devices include fully automated analyzers that perform the blood screening test and deliver speedy & accurate results. The technological advances have significantly improved the clinical outcomes and helped increasing reliability and accuracy. Such advancements have enabled the end-users to adopt a vitro study of blood compatibility between the receiver’s and donor’s blood. Advanced antiglobulin screening instruments and assays validate for proper blood typing. Key market players are significantly investing in Research & Development and product innovation. Furthermore, the companies are focusing on improving the safety and longevity of blood stored in blood banks by innovating advanced immunohematology devices.
The upcoming market trend is of Reagent rentals or leasing analyzers. However, considering that the high costs of the analyzers and of reagents are reducing the sales of immunohematology devices, manufacturers are permitting the end-users to rent the advanced reagents and analyzers. The biggest problems hampering the market growth is the availability of the truly voluntary altruistic blood donor. Despite, screening for transfusion transmissible diseases is now widespread although there is still a scope and requirement to enhance quality assurance procedures and to improve the outcome. Lack of awareness and shortage of skilled professionals to carry out the process are some of the major hindrances to the immunohematology market during the forecast period.
Further key findings from the report suggest
- Immunohematology market is growing at a CAGR of 8% in Asia Pacific followed by Europe and North America, with 4.9 % and 4.6% CAGR, respectively. Rapid technological developments and high incidence of hematological diseases are the key factors accelerating the market growth during forecast period across all regions
- As of 2018, Hospitals is the dominating Immunohematology market which holds 38% of the global market. North American regional market is the chief revenue generating source for this product segment, followed by Europe regions.
- Blood banks end-use segment is expected to be the fastest growing market segment during forecast period 2019-2026 with a CAGR of 5.5% owing to rapid construction of blood banks by private and government institutions
- Immunohematology reagents segment dominated the market in terms of revenue generation and is expected to continue its dominance with a market share of 54.5%.
- In context to Immunohematology Analyzers, automatic analyzers segment is expected to achieve fast-paced growth during the forecast period FDA clears ORTHO Sera ID-MTS for use on the ORTHO VISION Analyzer, fully automated technology from ortho clinical diagnostics aids in extended antigen phenotyping and ensures delivery of safe blood to transfusion Patients
- High initial investments, inadequate reimbursements of high-tech devices and lack of awareness of technologically advanced devices in developed and developing countries are key factors hindering market growth
- North America is expected to account for the 35.5% of the global Immunohematology market. Growing blood bank facilities and the rapid increase in the number of target diseases are the key factors proliferating regional market growth. In line with this, According to the Leukemia & Lymphoma Society, estimated 60,300 people were diagnosed with leukemia in 2018. Between 2007 and 2017, an estimated 63.7% of Americans diagnosed with leukemia lived for at least 5 years after being diagnosed.
- Europe is the second largest region in terms of revenue. High adoption and usage of superior-quality diagnostics and treatments is one of the major factors driving the market in the region.
- Key participants include Siemens Healthcare GmbH, Bio-Rad Laboratories, Ortho Clinical Diagnostics, Grifols, Immucor, Abbott laboratories, Beckman Coulter, ThermoFisher, Becton Dickinson and Merck KGaA
To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/immunohematology-market
Segments covered in the report:
For the purpose of this report, Reports and Data has segmented the Immunohematology market on the basis of Product, Application, Disease, End use, and region:
Product (Revenue, USD Million; 2016–2026)
- Immunohematology Reagents
- Immunohematology Analyzers
- Automated Analyzers
- Semi-automated analyzers / Non-automated analyzers
Application (Revenue, USD Million; 2016–2026)
- Pretransfusion testing
- ABO and Rh Typing
- Antibody Detection
- Cross matching
- Investigation of immune hemolysis
- Perinatal testing
- Blood group Phenotyping / genotyping
- Leucocyte and platelet Serology
Disease (Revenue, USD Million; 2016–2026)
- Blood-related diseases
End Use (Revenue, USD Million; 2016–2026)
- Blood banks
- Diagnostic laboratories
Regional Outlook (Revenue in USD Million; 2016–2026)
- North America
- Rest of the Europe
- Asia Pacific
- Rest of Asia-Pacific
- Middle East & Africa
- Latin America
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