Growing Hematology Departments Driving Demand for Blood Screening Products

Blood is life, but it can also be death, if the blood of an incorrect group is transfused, or even if the transfused blood of the correct group has mutations or an infection. Whole blood and its individual components (red and white blood cells, plasma, and platelets) are given from one person to another for a variety of reasons, such as to make up for rapid blood loss or replace the infected or septic blood with fresh one.

Hence, with the rising awareness on blood donation, P&S Intelligence expects the blood screening market value to increase from $2,402.3 million in 2019 at a CAGR of 8.1% over the forecast period (2020–2030).

Apart from before transfusion, the blood is also screened for diagnostic purposes, wherein the practice is termed hematology. A blood test is one of the first steps in diagnosis, based on which the doctor may order further tests, such as radiology scans and biopsies. Since the blood circulates throughout the body, it is full of enzymes, minerals, hormones, and other liquids found in different organs and tissues, which is why blood tests are so widely performed. Complete blood count (CBC), lipid profile, kidney function test (KFT), liver function test (LFT), and blood glucose count are some of the most-commonly performed blood tests.

With the rising number of patients, the volume of blood tests for diagnosis has risen massively. As a result, life sciences companies have come up with more-advanced and -effective blood tests for the coronavirus. Moreover, even though the rate of the spread of the infection has slowed down in 2021, the number of patients is still increasing. Further, the virus is continuously evolving, with Delta and Omicron the latest variants to be causing havoc. Therefore, blood test software, kits, reagents, and instruments might have to be further advanced to detect the new variants.

In the coming years, the demand for the products used for blood screening will rise the fastest in Asia-Pacific (APAC) due to its large population. Thus, the number of people with health issues, including diabetes, cancer, heart diseases, and hepatitis, is really high here. Further, India has one of the largest populations of AIDS patients, which is driving blood screening activities. Similarly, the blood screening volume is surging in the region with the increasing number of people donating blood.

Hence, with the rising prevalence of diseases and soaring awareness on blood donation, the demand for products used for blood screening is burgeoning.

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