Report Overview

The global blood screening market was pegged at ~US$ 2.3 billion in 2021 and is expected to witness a CAGR of ~8.1% during the forecast period from 2022 to 2030.

Market Fundamentals 

Blood screening is a primary diagnostic process used to understand blood components or diagnose different medical conditions. This procedure also helps analyze the proper functionality of various organs such as the liver, heart, kidneys, etc. An unhealthy lifestyle leads to different medical conditions such as obesity, high cholesterol, diabetes, and so on, thus, fueling the growth of the global blood screening market.

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Market Dynamics

Blood screening is itself a large market and is expected to be at a rapid pace during the forecast period. The growth of the blood screening market can be attributed to various factors, such as the increasing number of blood donations, the rising prevalence of infectious and chronic diseases, and emerging economies. Furthermore, technological advancement, the rapid launch of novel products, and product portfolio expansion are also drivers in this market. Additionally, increasing healthcare initiatives by government and private bodies positively impact the market. However, high blood screening costs and stringent regulatory policies can cause major challenges to the market development. 

Market Ecosystem

The global blood screening market has been analyzed from four perspectives: technology, product, end-user, and region. 

Blood Screening Market by Technology

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The global blood screening market has been segmented based on technology into ELISA, western blot, RT-PCR, rapid test, and nucleic acid amplification. Nuclei acid amplification testing (NAT) dominates the market with the largest revenue share owing to its accuracy and efficiency in results/outcomes. This screening technique is widely used and, especially in donation activities, to detect any disease or infection such as hepatitis C virus, HIV-I, West Nile virus (WNV) in blood, thus securing patient safety. NAT is a sensitive blood screening technique that can detect any chronic occult infection, which is hard to detect using routine serological screening. Thus, these factors benefit the NAT segment, supporting market growth. 

Blood Screening Market by Product

Based on the product, the global blood screening market has been segmented into software, instrument, and reagent & kits. The reagent & kits segment holds the largest share in the market, attributed to the high consumption rate due to the rise in blood donations, rising prevalence of infectious diseases, and increased transfusion-related tests. Additionally, reagents & kits are economically affordable and have high accuracy in the outcome. Instruments hold the second largest share in the market due to the advantage of reusable property.

Blood Screening Market by End-User

Based on the end-user, the global blood screening market has been segmented into hospital-based and independent laboratories. Independent laboratories lead the market with the largest revenue share. The growth of this segment can be attributed to its enhanced infrastructure and the presence of advanced wide-range technologies. Additionally, it can do a large amount of blood screening daily, thereby surging the market development. 

Blood Screening Market by Region

The market has been segmented based on regions: North America, Europe, Asia Pacific, and the Rest of the World. North America dominates the market with the largest revenue share. The dominance of this region can be attributed to advanced healthcare infrastructure and high awareness of blood safety among the population. Additionally, growth in blood donations, high utilization of the blood screening process, and rising disposable income contribute to this development in North America. At the same time, Europe is the second largest shareholder in this market owing to the continuous implementation of advanced technologies and developed healthcare infrastructure. The Asia Pacific, on the other hand, is the fastest-growing region in this market due to the growing prevalence of chronic diseases, increasing blood donations and transfusions, and growing awareness. Furthermore, improving healthcare infrastructure and rising government initiatives also contribute to the market expansion in this region.  

Competitive Landscape

Some prominent players operating in the global cardiac biomarker market are:

• Ortho-Clinical Diagnostics Inc.
• Thermo Fisher Scientific Inc. 
• Abbott Laboratories
• F. Hoffmann-La Roche AG
• Grifols S.A. 
• Quotient Technology Inc. 
• Bio-Rad Laboratories Inc. 
• Becton, Dickinson and Company 
• Danaher Corporation (Beckman Coulter) 
• Siemens Healthineers

Strategic Developments

• In June 2021, Grail launched the Galleri blood test: This screening technique could detect multiple cancers. This product will receive full approval in 2023 by the FDA. This development in new techniques 
• In March 2021, a team of laser physicists, physicians, and molecular biologists based at LMU Munich and Max Planck Institute for quantum optics introduced an innovative blood test using infrared light as a future prospect of minimally invasive infrared spectroscopy
• In May 2021, Tzar Labs collaborated with Epigeneres Biotechnology to develop early-detection cancer tests which can detect different stages of cancer and strengthen the product portfolio of both companies 

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