Blood Group Typing Market is expected grow to 3.12 Billion USD by 2021

NEW YORK, May 15, 2017 /PRNewswire/ -- Highlights

•         The blood group typing market is projected to reach USD 3.12 billion by 2021 from USD 1.95 billion in 2016, at a CAGR of 9.8%.

•         Growth in the blood group typing market is primarily attributed to the increasing demand for blood and blood products, growing number of road accidents and trauma cases that necessitate blood transfusion, need for blood grouping during prenatal testing, and increasing usage of blood group typing in forensic sciences.

•         Based on product and service, the market is segmented into consumables, instruments, and services.

•         The consumables segment is further categorized into antisera reagents, anti-human globulin reagents, red blood cells reagents, and blood bank saline.

The blood group typing market is projected to reach USD 3.12 billion by 2021 from USD 1.95 billion in 2016, at a CAGR of 9.8%. Growth in the blood group typing market is primarily attributed to the increasing demand for blood and blood products, growing number of road accidents and trauma cases that necessitate blood transfusion, need for blood grouping during prenatal testing, and increasing usage of blood group typing in forensic sciences. Stringent regulatory standards for blood transfusion are also expected to fuel the growth of the blood group typing market during the forecast period.

Based on product and service, the market is segmented into consumables, instruments, and services. The consumables segment is further categorized into antisera reagents, anti-human globulin reagents, red blood cells reagents, and blood bank saline. The consumables segment is expected to grow at the highest CAGR during the forecast period. The increase in blood donation rates and major surgical procedures (including organ transplant procedures) are the key factors driving the growth of this segment.

Based on test type, the market is segmented into antibody screening, HLA typing, cross-matching tests, ABO blood tests, and antigen typing. The antibody screening segment is expected to grow at the highest CAGR during the forecast period. The growth of this market segment is primarily driven by the increasing prevalence of chronic disorders and growing demand for the early diagnosis of diseases.

Geographically, North America accounted for the largest share of the market in 2016. Growth in the North American segment is primarily driven by the rapid growth in the aging population, availability of reimbursement for several surgeries, and increasing incidence of major disorders. In addition, the high growth potential in the Asian region provides opportunities for players in the market.

The major players in the market are Bio-Rad Laboratories, Inc. (U.S.), Grifols, S.A. (Spain), Immucor, Inc. (U.S.), Ortho Clinical Diagnostics, Inc. (U.S.), Quotient, Ltd. (U.S.), ), Novacyt Group (France), BAG Healthcare GmbH (Germany), Rapid Labs (U.K.), Day medical SA (Switzerland), DIAGAST (France), and AXO Science (France).

Research Coverage

The blood group typing market is segmented based on product and service, technique, test type, end user, and region. Apart from comprehensive geographic & devices analysis and market sizing, the report also provides a competitive landscape that covers the growth strategies adopted by industry players over the last three years. In addition, the company profiles comprise the product portfolios, developments, and strategies adopted by players to maintain and increase their shares in the market.

Reasons to Buy the Report:

This report will enable both established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in turn will help these firms, garner greater market shares. Companies purchasing the report can use any one or a combination of the below-mentioned five strategies for strengthening their market shares.

The report provides insights on the following pointers:

 Market Penetration: Comprehensive information on the product portfolios of the top players in the blood group typing market.

 Product Development/Innovation: Detailed insights on the upcoming technologies, R&D activities, and product launches in the blood group typing market.

 Competitive Assessment: In-depth assessment of the market strategies, geographic and business segments, and product portfolios of the leading players in the blood group typing market.

 Market Development: Comprehensive information about emerging markets. This report analyzes the market for blood group typing products across geographies.

 Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the blood group typing market.

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