Immunohematology Market: Scope and Methodology
This report on the global immunohematology market analyses the current and future prospects of the market. The report comprises a comprehensive executive summary including a market snapshot that provides overall information of various segments and sub-segments. The research is a combination of primary and secondary research. Primary research represents a bulk of our research efforts along with the information collected from telephonic interviews and interactions via e-mails. Secondary research involves the study of company websites, annual reports, press releases, stock analysis presentations, and various international and national databases. The report provides market size in terms of US$ Mn for each segment for the period from 2015 to 2025, considering the macro and micro environmental factors. Growth rates of each segment of the global immunohematology market have been determined after a thorough analysis of past trends, demographics, future trends, technological developments, and regulatory requirements.
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Global Immunohematology Market: Snapshot
Rapid increase in the global disease burden and rise in the demand for blood- and plasma-derived products such as platelets, immunoglobulin, and plasma factors are augmenting the demand for immunohematology testing instruments and reagents. The number of patients with different hematological and other chronic diseases is also increasing rapidly across the world. This is likely to raise the number of surgical procedures in the near future, consequently propelling the demand for blood transfusions. Demand for advanced immunohematology tests in also anticipated to increase during the forecast period in order to maintain the quality standards and safety profiles during blood transfusions.
Awareness among the general public regarding the importance of blood compatibility and transfusion-related diseases is increasing due to the development of health care infrastructure, government campaigns, and increasing per capita income in developed as well as developing countries. Awareness among patients about proper compatibility tests for transfusion is also increasing. Increasing health care expenditure and rising worldwide concerns about medical safety are also driving the global immunohematology market. Moreover, government reimbursement programs in developed as well as developing countries are likely to provide growth opportunities to the immunohematology market in the near future. Demand–supply gap of safe and adequate human blood and plasma is a major bottleneck in the blood transfusion & blood typing industry. According to the World Health Organization, there is a significant difference between the blood demand–supply gap in developing countries and that in developed countries. Developed countries account for more than 50% of the global blood collections. These countries represent only 19% of the global population. Supply disorders in both source materials and finished products, if not managed properly, can hamper the global immunohematology market during the forecast period.
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Geographically, the global immunohematology market has been segmented into five regions: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominated the global market in 2016 and is projected to continue its dominance between 2017 and 2025. Growth of the market in North America is primarily attributable to the increased funding by governments and the private sector and large volumes of blood transfusions. In addition, increased focus on research by pharmaceutical companies and well-established health care infrastructure are major factors driving the market in the region. The market in Europe is projected to expand at a significant CAGR from 2017 to 2025. Europe held the second-largest market share in 2016. High adoption and usage of superior-quality diagnostics and treatments is one of the major factors driving the market in the region. This can be attributed to increasing number of diagnostic laboratories and blood banks, rising government funding for research activities, and growing application of immunohematology in transfusion safety in the region. Asia Pacific is one of the rapidly developing regions in the world. High per capita income has increased the consumption of blood products in the region.
Key companies profiled in the report are Bio-Rad Laboratories, Inc., Grifols, S.A., Ortho Clinical Diagnostics, IMMUCOR, INC., Abbott Laboratories, Beckman Coulter, Inc., Thermo Fisher Scientific, Inc., Becton, Dickinson and Company, Merck KGaA, and Siemens Healthineers. These players are adopting organic and inorganic growth strategies to expand their product offerings, enhance their geographical reach, widen their customer base, and gain market share. In 2016, Grifols, S.A. won a contract for supplying blood-typing solutions to the Red Cross of South Korea. The Malaysian National Blood Bank renewed its contract for Grifols’s NAT technology that analyzes about 450,000 blood donations every year.
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