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The global blood-grouping reagents market at a CAGR of over 10% during the forecast period

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Global Blood-Grouping Reagents Market: About this market This blood-grouping reagents market analysis considers sales from hospitals and blood banks; clinical laboratories; and academic and research institute end-users.

New York, Jan. 13, 2020 (GLOBE NEWSWIRE) -- announces the release of the report "Blood Grouping Reagents Market by End-users and Geography - Forecast and Analysis 2020-2024" -
Our study also finds the sales of blood-grouping reagents in Asia, Europe, North America, and ROW. In 2019, the hospitals and blood banks segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as increasing demand for blood transfusion and the rise in the number of hospitals and clinics will play a significant role in the hospitals and blood banks segment to maintain its market position. Also, our global blood-grouping reagents market report looks at factors such as the increasing prevalence of chronic disorders, the rise in blood donations, and growing demand for blood transfusions and blood group typing. However, the risk associated with blood transfusion, lack of skilled healthcare professionals, and stringent regulatory process for blood transfusion may hamper the growth of the blood-grouping reagents industry over the forecast period.

Global Blood-Grouping Reagents Market: Overview
Growing demand for blood transfusions and blood group typing
The demand for blood transfusions and blood grouping is growing rapidly, owing to the increase in demand for blood. The increase in demand for blood transfusions can be attributed to several types of emergency cases, including road accidents leading to loss of blood and death. Patients suffering from conditions such as hemolytic anemia, sickle cell anemia, hemophilia, thalassemia, kidney, and liver diseases also require blood transfusion often. This is driving the demand for blood grouping reagents as they are used by blood banks and hospitals for safe transfusion of blood and elimination of risks associated with infections. Thus, the growing demand for blood transfusions and blood group typing will lead to the expansion of the global blood-grouping reagents market at a CAGR of over 10% during the forecast period.
Advancement in technology
Advances in technology help in increasing the adherence of people to diagnosis, which aids in obtaining effective and quick results. Also, the advent of technologies such as molecular typing as a substitute to the traditional blood grouping method is trending. The molecular blood grouping method includes the detection of polymorphisms and mutations that control the expression of blood group antigens. Moreover, automated blood group typing products improve the quality of testing by decreasing human errors in sample identification. Also, the emergence of column agglutination technique (CAT), solid-phase red cell adherence assay (SPRCA), erythrocyte-magnetized technique (EMT), and automated microplate systems will help to improve the quality and accuracy of testing and results. This development is expected to have a positive impact on the overall market growth.

Competitive Landscape
With the presence of a few major players, the global blood-grouping reagents market is concentrated. This robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of few leading blood-grouping reagents manufacturers, that include Bio-Rad Laboratories Inc., DIAGAST, Grifols SA, Immucor Inc., Merck KGaA, Novacyt SA, Ortho-Clinical Diagnostics Inc., Quotient Ltd., Rapid Labs Ltd., and Ybio Inc.
Also, the blood-grouping reagents market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.
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