According to a statement by a market research institution, P&S Intelligence, the blood screening industry is experiencing significant growth, and it will continue to grow further in the years to come.
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The key reasons driving the growth of this industry are the strict rules concerning contaminated blood, mounting healthcare expenses, advancement in the technology of blood screening, and high incidence of infectious, respiratory, and chronic illnesses.
Based on product type, the reagents and kits category accounted for the largest share in the past few years. This is because of the easy accessibility of numerous reagents and the necessity for these products in the first stage of the blood screening process.
In recent years, the North American industry contributed the largest share, owing to the high prevalence of respiratory and infectious illnesses in this region. The increasing government support concerning the adoption of advanced screening products is a key factor driving the regional industry growth.
The APAC blood screening industry is expected to observe the fastest growth in the years to come.
A major trend observed in the blood screening industry is the rising number of mergers and collaborations between main industry players.
In the past few years, the blood screening industry player has been involved in numerous new and advanced product launches, to gain a competitive edge.
It is because of the rising incidence of chronic illnesses, rules to ensure safety regarding blood contamination, technological advancements in screening technology, and the increasing number of blood donors, the blood screening industry will continue to grow in the years to come.
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