The blood screening market is on the way of growth, and this trend will continue in the years to come as well. The major factors powering the industry are the enhancements in the blood screening technology, strict regulations with regards to contaminated blood, increased spending, and high incidence of chronic, respiratory, and infectious diseases.
The reagents and kits category dominated the industry in the past. This was because of the need for these products throughout the first stage of the blood screening process and easy obtainability of numerous reagents. Also, the high preference for reliable, fast, specific detection of TTD also powered the acceptance of these products.
The NAT category will have the fastest growth in the years to come. This has a lot to do with the fact that is it is very popular among testing labs and blood banks, because of its higher sensitivity as opposed to the others.
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In the past, blood banks had the major share, as a result of the increasing count of organ transplant surgeries and blood donation activities. Furthermore, the increasing consciousness with regards to the dangers of contaminated blood increased the growth of this category.
North America had the highest revenue in the blood screening market in the past, as a result of the high frequency of respiratory and infectious diseases in the region. For example, the region had the highest number of COVID-19 cases and deaths till April 13, 2020.
Furthermore, the introduction of novel products by the players operating in the industry, chiefly for COVID testing, such as the CoronaCheck antibody test kit by BioResponse, is also has an important role in the growth of the industry.
Also, the growing government support with regards to the use of advanced screening products is also a main growth driver of the regional industry.
Increasing count of collaborations and mergers among the important players has turned out to be a prominent trend in the industry.
For example, in January 2020, Illumina Inc. and F. Hoffmann-La Roche Ltd. started a fifteen-year, non-exclusive partnership to boost the use of distributable (NGS)- based oncology testing.
Similarly, in April 2019, Ortho-Clinical Diagnostics Inc. introduced its D-Dimer assay under its MicroTip partnership assay program. This was developed by the corporation in collaboration with Diazyme Laboratories Inc.
The increasing number of chronic cases all over the globe, and the growing count of blood donors are the two factors among the many which has helped in the growing demand for blood screening. This demand will only go up from here in the years to come as well.