Solid Growth Forecast for Global Blood Transfusion Diagnostics Market

As per the collective views and opinions of expert analysts and seasoned researchers, the global blood transfusion diagnostics market value reached $2.19 billion in 2020 and is projected to grow at a healthy rate through 2026. 
 
Chronic diseases and escalating demand for donor screening are bolstering the industry growth. Moreover, escalating demand for transfusion due to increasing cases of trauma, road accidents, and surgeries is positively impacting the business dynamics. 
 
Further, high risk of transfusion-transmitted infections (TTIs) has surged the demand for donor screening across the globe. Also, complications associated with blood transfusion, especially among critically ill patients or those undergoing cardiac surgery has elevated the importance of better understanding the beneficial and adverse implications of blood transfusion and blood storage lesion. 
 
Notably, global blood transfusion diagnostics market size has expanded considerably over the last few years, attributable to progressively increasing number of patients under surgeries for various blood-related chronic ailments like sickle cell anemia, aplastic anemia, and leukemia. This has compelled industry majors to pour their resources into research and development of advanced assays, kits and instruments for blood banks and hospitals. 
 
The COVID-19 pandemic has placed a tremendous strain on the healthcare sector as the number of positive cases continue to increase throughout the globe. However, the responses to this crisis have also introduced innovations in clinical research, subsequently enhancing the scope for the overall blood transfusion diagnostics industry growth. 
 
The opportunities for players in this domain lie in plasma transfusion. For instance, a series of plasma transfusion trials are underway in the United States wherein in the authorized healthcare personnel are extracting liquid medium from recovered patients and injecting it into infected ones. This ‘convalescent plasma’ is expected to enhance immunity in infected patients.  
 
Top contenders in global blood transfusion diagnostics industry sphere are Hologic Inc., Danaher Corp., Ortho Clinical Diagnostics, Hoffman-La Roche Ltd., Bio-Rad Laboratories Inc., and Abbott Laboratories, among others. These companies are undertaking strategies such as R&D investments and collaborations to grab a larger portion of the market share.