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Blood Transfusion Diagnostics Market to Hit USD 4,096.93 million by 2028 with Booming CAGR Value of 6.9%

Instruments & Kits Segment to Emerge as Prominent Blood Transfusion Diagnostics Product Segment

NEW YORK, UNITED STATES, November 17, 2022 /EINPresswire.com/ -- Blood transfusion diagnostics are tests performed on blood before they are transfused to patients. A blood transfusion is a common procedure in which the donated blood or its components are transfused into the patient’s body through an intravenous route of administration. Each unit of blood must undergo blood typing, which refers to the identification of blood type and blood screening, including disease detection tests to avoid side effects or transmission of infection. Blood screening before transfusion is performed through instruments, kits, and reagents to identify various diseases such as HIV, Hepatitis B, Hepatitis C, Zika virus, and various other viruses & infections.

The growth of the blood transfusion diagnostics market is defined by the key driving factors such as a rapid increase in chronic diseases and the need for blood transfusion due to the rise in organ transplant surgeries. Additionally, technological developments in blood transfusion diagnostics are likely to emerge as a significant future trend in the market during the forecast period. However, problems associated with blood transfusion services are likely to hinder the growth of the market during the forecast period.

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Need for Blood Transfusion due to Rise in Organ Transplants Surgeries

Organ transplant is a surgical procedure performed in case of organ failure. Usually, organ transplant surgeries are conducted for the heart, liver, kidney, and various other organs due to the rising cases of chronic diseases, such as chronic kidney disease (CKD), polycystic kidney disease, cystic fibrosis, and congenital heart disease, which require transplants. These procedures generally take hours, and there is a lot of blood loss and requires the need for blood transfusion. For instance, according to the United Network for Organ Sharing (UNOS), organ transplants conducted in the US have continuously increased, with over 41,000 transplants performed in 2021. Similarly, according to World Transplant Registry data, Spain accounted for 20% of all organ donations in Europe in 2019 and 6% worldwide. Australia's organ donor rate has improved recently, rising to 21.8 donors per million population in 2019.

Competitive Landscape

Market leaders operating in the blood transfusion diagnostics market have undertaken various organic and inorganic growth strategies. The blood transfusion diagnostics market majorly consists of players such as Grifols, S.A.; F. Hoffmann-La Roche Ltd; Immucor, Inc.; Bio-Rad Laboratories, Inc.; Abbott; Thermo Fisher Scientific Inc.; Ortho Clinical Diagnostics; DiaSorin S.p.A.; Quotient Limited; and BAG Diagnostics GmbH and others.
Several organic approaches, such as product launches, and expansion in the blood transfusion diagnostics market, have resulted in the growth of the market. Likewise, inorganic strategies such as mergers & acquisitions, and collaboration have helped the company to strengthen its revenue, which allows the company to hold a strong position in the market.

Below is the list of the growth strategies done by the players operating in the blood transfusion diagnostics market:

In July-2022, Quotient Limited announced an agreement with InfYnity Biomarkers, an R&D firm dedicated to utilizing biomarkers for the management of infectious and immunology diseases, under which the two companies will partner to advance the safety and effectiveness of infectious disease testing by leveraging Quotient’s MosaiQ solution.

In May-2022, QuidelOrtho Corporation (“QuidelOrtho”), announced the completion of the transaction combining Quidel Corporation (“Quidel”) and Ortho Clinical Diagnostics Holdings plc (“Ortho”), creating QuidelOrtho, a leading in vitro diagnostics company. The combined organization will unite the companies’ technologies and platforms to benefit customers with expanded access to clinical chemistry, immunoassay, molecular diagnostics, immunohematology, donor screening, and point-of-care diagnostics offerings.

In July-2021, DiaSorin S.p.A. announces it has completed the acquisition of Luminex Corporation for a price of USD 37.00 per share which corresponds to a total equity value of approximately USD 1.8 billion. Through the acquisition, DiaSorin will gain access to Luminex’s multiplexing technology and a portfolio that will strengthen its existing offering, while expanding the group's presence in the United States.

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