NEW YORK, Sept. 24, 2023 /PRNewswire/ — Theimmunohematology marketis expected to grow by USD 1.28 billion from 2022 to 2027. However, the growth momentum of the market will progress at a CAGR of 9.06% during the forecast period. The market is segmented by product (analyzers and systems and reagents), end-user (hospitals, blood banks, and diagnostic laboratories), and geography (North America, Europe, Asia, and the Rest of the World (ROW)). The growing demand for blood banks and their potential to increase sales is a key factor driving market growth. The need for blood banks worldwide is increasing. These blood banks collect and store blood from donors using blood mobile or donors can go to blood donation centers. It is then passed on to a variety of screening tests, including blood type screening for infectious diseases and plasma serology testing. Additionally, one of the biggest players in the market is cord blood banking. Once the umbilical cord blood is donated, the blood bank will keep it after sending it for a number of tests, including immunohematology tests. Hence, these factors are expected to drive market growth during the forecast period.The report analyses the market size and growth and provides accurate predictions of the market’s growth.View Free PDF Sample
- The report recognizes the following as some of the key players in the immunohematology market: Becton Dickinson and Co., Biomed Global, Bio Rad Laboratories Inc., biosurfit SA, Cardinal Health Inc., Danaher Corp., DIAGAST SAS, Grifols SA, Hemo bioscience Inc., HUMAN Gesellschaft fur Biochemica und Diagnostica mbH, Institut de Biotechnologies Jacques Boy, MAK SYSTEM S.A., Merck KGaA, Mesa Laboratories Inc., Quotient Ltd., Siemens AG, Thermo Fisher Scientific Inc., Tulip Diagnostics Pvt. Ltd., Werfenlife SA, and Calibre Scientific Inc.
- The Immunohematology Market is fragmented in nature.
- Market to observe 6.44% YOY growth in 2023.
- The paradigm shift toward molecular immunohematology is a major factor driving market growth.
- Molecular analysis has emerged as a primary approach for determining the molecular and genetic basis of antigens, providing clinicians with an important means of understanding the molecular basis of blood group antigens.
- Additionally, the growing popularity of this method is due to its effectiveness in understanding the compatibility between donor and recipient blood, making it especially useful for transfusion procedures.
- There is a growing trend toward applying molecular immunohematology in conjunction with traditional serotyping and HLA typing, a trend seen in many blood banks and healthcare facilities.
- Hence, these factors are expected to drive market growth during the forecast period.
- High maintenance costs and low reimbursement for blood components are some of the significant challenges restricting market growth.
- Blood banks are facing a growing financial strain due to the rising expenses associated with maintaining blood components, including labor costs, the cost of reagents and disposables, and storage costs. For example, the annual cost of handling cord blood averages around USD 1,500.
- Consequently, many public and private blood banks have implemented registration fees and annual charges for donors to offset these escalating costs.
- Additionally, the limited adoption of these products is attributed to the relatively low reimbursements available in the industry.
- Hence, these factors are expected to restrict market growth during the forecast period.
The report also covers information on upcoming trends and challenges. Explore detailed information by purchasing a report
- The analyzers and systems segment is estimated to witness significant growth during the forecast period. Factors such as potential high demand for automated analyzers in blood banks and new generation immunohematology analyzers with better throughput will significantly influence the growth of the systems market and Immunohematology analyzer. Several global immunohematology market players are focusing on developing next-generation immunohematology analyzers with improved speed, performance, and automation. For example, Immucor developed the NEO aimed at hospitals and level 1 reference laboratories. The main advantage of this analyzer is that it can process 224 test samples at a time and offers a wide range of tests for recipients and givers. Hence, these factors are expected to drive segment growth during the forecast period.
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The companion diagnostics marketis estimated to grow at a CAGR of 22.59% between 2022 and 2027. The market size is forecast to increase by USD 11,029.63 million. Furthermore, this report extensively covers market segmentation by end-user (life science, health centers, and others), indication (oncology, neurology, and others), and geography (North America, Europe, Asia, and the Rest of the World (ROW)). The rising use of personalized medicine is a key factor driving market growth during the forecast period.
The cancer diagnostics market is estimated to grow at a CAGR of 11.3% between 2022 and 2027. The market size is forecast to increase by USD 12,626.21 million. Furthermore, this report extensively covers market segmentation by end-user (hospitals and clinics, and diagnostic laboratories), type (IVD, imaging, and IDT), and geography (North America, Europe, APAC, and the Rest of the World (ROW)). The high prevalence of cancer is a key factor driving market growth during the forecast period.
Immunohematology Market Scope
Growth momentum & CAGR
Accelerate at a CAGR of 9.06%
Market growth 2023-2027
USD 1.28 billion
YoY growth 2022-2023 (%)
North America, Europe, Asia, and Rest of World (ROW)
Performing market contribution
North America at 37%
US, Canada, Germany, UK, and China
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks
Key companies profiled
Becton Dickinson and Co., Biomed Global, Bio Rad Laboratories Inc., biosurfit SA, Cardinal Health Inc., Danaher Corp., DIAGAST SAS, Grifols SA, Hemo bioscience Inc., HUMAN Gesellschaft fur Biochemica und Diagnostica mbH, Institut de Biotechnologies Jacques Boy, MAK SYSTEM S.A., Merck KGaA, Mesa Laboratories Inc., Quotient Ltd., Siemens AG, Thermo Fisher Scientific Inc., Tulip Diagnostics Pvt. Ltd., Werfenlife SA, and Calibre Scientific Inc.
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period.
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Historic Market Sizes
Five Forces Analysis
Market Segmentation by Product
Market Segmentation by End-User
Market Segmentation by Geography
Drivers, Challenges, & Trends
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