Market Opportunities and Challenges in Blood Group Typing

In the near
future, the blood group typing industry is poised for groundbreaking
advancements that promise to revolutionize healthcare and transfusion medicine.
Leveraging cutting-edge genetic and molecular techniques, blood typing will
become more precise and accessible, reducing the risk of transfusion-related
complications and organ rejection during transplantation. Personalized medicine
will take center stage as tailored blood products become a reality, enhancing
patient outcomes and safety. Moreover, the industry will witness an expansion
in point-of-care testing, allowing for rapid blood typing at the bedside, in
emergency situations, and even in remote or underserved areas. These
innovations will not only streamline healthcare delivery but also pave the way
for more effective and efficient blood supply management, ensuring that
patients receive the right blood products when they need them, ultimately
saving lives and improving the quality of care.

Blood
Group Typing Market
in terms of revenue was estimated to be worth $2.0 billion in 2023 and is
poised to reach $3.0 billion by 2028, growing at a CAGR of 8.7% from 2023 to 2028
according to a new report by MarketsandMarkets™. The high prevalence of cancer
significantly impacts the increased demand for donated blood. Cancer patients
undergoing chemotherapy or radiation therapy are often more likely to bleed,
and they need blood transfusions to replace the lost blood. This will lead to
an increased need for donated blood for transfusion, which will require
mandatory blood group typing. Furthermore, some blood-related products used in
cancer treatment have relatively short shelf lives. This means there is a
constant need for fresh blood donations to ensure a sufficient supply of blood-related
products to meet the pressing demand. Due to this, the demand has surpassed the
supply of blood. Thus, the escalating demand for blood products in cancer care,
coupled with their short shelf life, has led to a pressing need for increased
blood donations, which is thereby expected to support the growth of the blood
group typing consumables and instruments market.

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220 - Pages

Blood Group
Typing Market
Scope:

In
2022, the assay-based techniques segment held the largest share of the blood
group typing market by technique segment.

The
blood group typing market is segmented into assay-based techniques, PCR-based
and microarray techniques, massively parallel sequencing, and other techniques
based on techniques. The assay-based techniques segment accounted for the
largest share of the blood group typing market in 2022. This segment covers the
most commonly used methods for blood group typing, such as test-tube methods,
slide methods, gel/column centrifugation, and microplate methods. These methods
are commonly used in hospitals and blood banks for general blood typing as they
are much more convenient and cheaper. As technologies continue to evolve, the
efficiency and accuracy of gel column and microplate methods contribute
significantly to the safety and success of blood transfusions and
transplantation procedures.

The
hospitals segment held the largest share of the blood group typing market by
end-user segment in 2022.

The
global blood group typing market is differentiated into hospitals, blood banks,
clinical laboratories, and other end users. In 2022, the hospital segment
dominated the blood group typing market. The blood group typing market in
hospitals is expected to grow at a high rate owing to the growing requirement
for blood during surgical treatments and the increasing number of hospitals.
With a burgeoning global population, the need for blood transfusions has
escalated significantly, fueling the requirement for accurate and swift blood
typing procedures. Hospitals are at the forefront of this surge, as they cater
to routine medical care and handle emergencies, where timely and precise blood
typing can be a lifesaver. This expanding network of healthcare institutions
directly translates to a substantial market share, reflecting the pivotal role
hospitals play in safeguarding patient well-being through meticulous blood
group typing practices.

North
America is the largest regional market for blood group typing market.

The
market for blood group typing has been divided into five key geographical
regions: North America, Europe, Asia Pacific, Latin America, and the Middle
East & Africa. In 2022, North America held the predominant portion of the
blood group typing market. This can be attributed to the region's advanced
healthcare facilities and substantial healthcare investments, which are pivotal
in fueling the requirement for blood group typing. Moreover, the projected rise
in organ transplantation procedures is anticipated to contribute to the
expansion of the market. Organ transplantation is a life-saving procedure for
individuals with end-stage organ failure. Successful transplantation requires a
compatible match between the donor and recipient, which includes blood group
compatibility. Blood group typing is essential to prevent adverse reactions and
organ rejection. As the demand for organ transplants rises, so does the need
for precise blood group typing to ensure successful and safe procedures.
According to the United Network of Organ Sharing, the number of transplants
performed in the US has increased annually, with more than 42,800 organ
transplants performed in the US in 2022. This is expected to drive the demand
for blood group typing products & services in the region.

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Blood Group Typing Market Dynamics:

Drivers:

1.       Increasing
prevalence of chronic diseases and rising number of surgical procedures
necessitating need for blood donations

2.       Growing number of road accidents, emergencies, and
trauma cases necessitating blood transfusions

3.       Increasing demand for blood group typing in prenatal
testing

4.       High usage of blood group typing in forensic
sciences

5.       Extensive R&D in blood typing

6.       Stringent regulatory standards for blood transfusion

Restraints:

1.       Emergence
of blood alternatives

Opportunities:

1.      
Growth opportunities in emerging economies

Key Market
Players:

The
major players operating in blood group typing market are Bio-Rad Laboratories,
Inc. (US), QuidelOrtho Corporation (US), Grifols, S.A. (Spain), Thermo Fisher
Scientific Inc. (US), Immucor, Inc. (US), Danaher (US), Merck KGaA (Germany),
Quotient Limited (Switzerland), Novacyt (France), BAG Health Care GmbH
(Germany), Rapid Labs Ltd (UK), Agena Bioscience, Inc. (US), Biorex Diagnostics
(UK), HUMAN Gesellschaft für Biochemica und Diagnostica mbH (Germany), Prestige
Diagnostics (UK), Span Diagnostics SARL (France), DIALAB GmbH (Austria), Lorne
Laboratories Limited (UK), Atlas Medical GmbH (Germany), Torax Biosciences
Limited (Northern Ireland), Fortress Diagnostics (UK), AXO Science (France),
Maxwin Health Care Pvt. Ltd. (India), Anamol Laboratories Pvt. Ltd. (India), J.
Mitra & Co. Pvt. Ltd. (India), and MedSource Ozone Biomedicals Pvt. Ltd.
(India).

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Blood
Group Typing Market Advantages:

·        
Enhanced
Patient Safety: Accurate blood typing minimizes the risk of transfusion
reactions, ensuring that patients receive compatible blood products, reducing
adverse events, and improving overall patient safety.

·        
Precision
Medicine: Advances in blood typing technologies allow for personalized medicine
approaches, tailoring transfusion and transplantation treatments to an
individual's specific blood group and genetic profile, optimizing therapeutic
outcomes.

·        
Streamlined
Healthcare: Point-of-care blood typing devices enable rapid and convenient
testing at the bedside or in remote settings, reducing wait times, expediting
treatment decisions, and improving healthcare efficiency.

·        
Blood
Supply Management: Improved blood group typing helps blood banks and healthcare
systems manage their blood inventories more effectively, reducing wastage and
ensuring a stable supply of compatible blood products.

·        
Transplantation
Success: Precise blood group matching in organ transplantation reduces the risk
of rejection, enhances graft survival rates, and increases the likelihood of
successful transplant procedures.

·        
Research
and Development: The blood typing market's ongoing innovation drives research
and development efforts in transfusion medicine and genetics, fostering
continuous advancements in healthcare.

·        
Global
Health Impact: Accessible and affordable blood typing solutions empower
healthcare providers worldwide, even in resource-limited areas, contributing to
better healthcare equity and reducing the burden of transfusion-related
diseases.

·        
Cost-Efficiency:
Efficient blood group typing practices help healthcare systems optimize
resource utilization, reducing the overall cost of healthcare delivery.

·        
Public
Health Benefits: Accurate blood group data collection and analysis support
public health initiatives, such as epidemiological studies and tracking disease
trends, helping authorities respond effectively to health crises.

·        
Improved
Quality of Life: By ensuring the right blood products are administered to
patients, the blood group typing market ultimately enhances the quality of life
for individuals receiving transfusions, transplants, or other blood-related
treatments.

Overall, the blood group typing market's advantages
extend beyond individual patient care, positively impacting healthcare systems,
research, and global health outcomes.

Recent Developments:

·        
In June
2023, Quotient Limited (Switzerland) launched its ALBA products in the
Netherlands and Sweden in addition to the following geographies: Austria,
France, Germany, Greece, Hungary, Italy, Luxembourg, the Netherlands, Poland,
Romania, Slovakia, and Sweden.

·        
In May
2023, Bio-Rad Laboratories, Inc. (US) launched the IH-500TM NEXT System, a
fully automated system for ID cards. The IH-500 NEXT System not only reduces
instrument downtime and increases laboratory productivity but also provides the
flexibility and freedom to use high-performing Bio-Rad Reagent Red Blood Cells
(RBCs), as well as the lab’s own RBCs or third-party Reagent RBCs.

·        
In March
2022, Quotient Limited (Switzerland) received the Conformité Européenne (CE)
Mark for its MosaiQ Extended Immunohematology (IH) Microarray. The expanded
array of features of MosaiQ allows for the comprehensive characterization of
blood donor samples (blood typing and disease screening) through a single test
procedure.

·        
In June
2023, Quotient Limited (Switzerland) and Transmedic Pte Ltd (Singapore) signed
a distribution agreement, which will enable Transmedic to distribute Alba by Quotient
and MosaiQ in five countries in Southeast Asia.

·        
In March
2023, With the acquisition of Immucor, Inc. (US), Werfen (Spain) expanded its
presence as a company of reference in the specialized diagnostics market and
grew its portfolio of diagnostic solutions for hospitals and clinical
laboratories.

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