The Blood Screening Market is expected to grow on a persistent note in the future. With AI making its mark everywhere, how could the healthcare vertical be left behind? Abnormalities in the medical scans could be easily spotted by radiologists with the help of machine learning. Likewise, the healthcare vertical is poised to develop on a ravishing note with technological advancements on the anvil in the next decade.
Blood is a living tissue made up of liquid, with numerous cells and proteins suspended in it. It is a circulating fluid, containing red blood cells, white blood cells, and platelets. It provides oxygen and nutrition to the body cells through capillaries, arteries, and veins. It also helps to remove metabolic waste and carbon dioxide from the body.
A blood screening is a medical process in which blood is examined for a specific disease or condition. It helps to monitor diseases and prevent health issues and a variety of other conditions such as infections and cancer. Human Immunodeficiency Virus (HIV), blood type, and pregnancy screenings are the most common types of blood screening tests.
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Blood donor screening is the defense mechanism implemented against the spread of infection prior to blood donation. A number of blood screenings are performed in laboratories before blood or blood products are transfused.
In addition, blood is cautiously screened for serious diseases, such as HIV, hepatitis B and C, and syphilis, when it is donated to a blood bank. Various national programs have been initiated to ensure quality assured screening of donated blood for transfusion transmissible infections. Similarly, different types of screenings are conducted for the detection of prenatal abnormalities during pregnancy.
Certain chemicals or hormones may be released into the blood if the fetus has certain defects, which can be detected with the help of blood screening. Western Blot Assay, Next Generation Sequencing (NGS), and Enzyme Linked Immunosarbent Assay are some of the major technologies used for blood screening. In some rare cases, a blood screening sample may be infected due to contaminated utensils, and results may be inaccurate.
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North America dominates the global market for blood screening due to technological advancements in blood screening methods and increasing prevalence of infectious diseases in the region. This market is expected to exhibit high growth in the next five years in Asia, with China and India being the fastest growing markets in Asia-Pacific.
The key driving forces for the blood screening market in developing countries are the large pool of patients, improving health care infrastructure, increasing disposable income, growing demand for donated blood, and rising government funding in the region.
Increasing number of blood donations and blood donors, rising awareness regarding maintaining of safety of donated blood, increasing prevalence of infectious diseases, increasing demand for donated blood, increase in health care expenditure, increasing adoption of nucleic acid testing, technological advancements in blood screening, increasing awareness about health care, and rising number of initiatives by various governments and government associations are some of the key factors driving the growth of the global blood screening market.
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However, complex regulatory frameworks for approval, lack of skilled manpower, presence of alternative technologies such as digital immunoassay, and high initial capital expenditure and operating costs of testing are the major restraining factors for the growth of the global blood screening market.
The introduction of pathogen reduction technology and microbiology screening and multiplexing- a single test for HIV, HBV, and HCV- would help create opportunities for the global blood screening market. The major companies operating in the global blood screening market are Abbott Laboratories, Inc., Bio-Rad Laboratories, Inc., Grifols, S.A., F. Hoffmann-La Roche Ltd., Siemens Healthcare, Ortho-Clinical Diagnostics, Inc., BioMerieux, Inc.; Becton, Dickinson and Company; Beckman Coulter, Inc., and Thermo Fisher Scientific, Inc.
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