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Classified in: Health
Subject: MRR

Blood Transfusion Diagnostics Market to Attain a Valuation of US$ 7.7 Billion by 2034, Rising Global Prevalence of Blood Disorders Drives Growth: Transparency Market Research


The demand for safe transfusion blood is driven by the rising global prevalence of blood disorders, increased incidents of road accidents and surgeries, and the growing geriatric population.

WILMINGTON, Del., July 25, 2024 /PRNewswire/ -- The global blood transfusion diagnostics market stood at US$ 4.6 billion in 2023, and the global market is projected to reach US$ 7.7 billion in 2034. The global blood transfusion diagnostics market is anticipated to expand at a CAGR of 4.9% between 2024 and 2034.

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The rising global prevalence of blood disorders, such as anemia, hemophilia, and leukemia, necessitates the need for accurate and reliable diagnostic tests to assess blood compatibility and identify potential risks associated with transfusions.

Additionally, the surge in road accidents and surgical procedures further drives the demand for blood transfusions, emphasizing the importance of stringent screening and compatibility testing to prevent adverse reactions and ensure patient safety.

Moreover, the growing geriatric population, who are more prone to chronic illnesses and require frequent medical interventions, contributes to the escalating demand for blood transfusion diagnostics.

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Elderly individuals often require blood transfusions as part of their treatment regimens, underscoring the critical role of diagnostic tests in assessing blood suitability and minimizing transfusion-related complications.

Furthermore, the increasing focus on collaborations and partnerships between healthcare entities and research institutions plays a pivotal role in expanding the adoption of advanced blood transfusion diagnostics.

These collaborations aim to enhance diagnostic technologies, develop innovative testing methodologies, and streamline transfusion protocols to improve patient outcomes and ensure the safety and efficacy of blood transfusions.

Technological advancements in blood transfusion diagnostics, such as the development of automated platforms, molecular testing techniques, and point-of-care devices, further drive market growth by offering rapid, accurate, and cost-effective testing solutions.

The innovative technologies enable healthcare professionals to perform comprehensive blood compatibility assessments, detect infectious agents, and identify potential immunological reactions more efficiently, thereby facilitating timely and informed transfusion decisions.

The blood transfusion diagnostics market is poised for continued expansion as the demand for safe and effective transfusion practices escalates worldwide. With ongoing advancements in diagnostic technologies and increased collaboration efforts within the healthcare industry, the market is expected to witness significant growth opportunities in the coming years, ensuring the delivery of high-quality transfusion services and improving patient care outcomes.

Blood Transfusion Diagnostics Market Report Scope:

Report Coverage

Details 

Forecast Period? 

2024-2034

Base Year? 

2020-2022

Size in 2023

US$ 4.6 Bn

Forecast (Value) in 2034

US$ 7.7 Bn

Growth Rate (CAGR) 

4.9 %

No. of Pages 

225 Pages 

Segments covered 

By Product Type, By Application, By Region, By End-user

Key Takeaways of Market Report

Global Blood Transfusion Diagnostics Market: Growth Drivers

Global Blood Transfusion Diagnostics Market: Regional Landscape

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Global Blood Transfusion Diagnostics Market: Key Players

Global Blood Transfusion Diagnostics Market: Segmentation

Product Type

Application

End User

Region

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About Transparency Market Research

Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants use proprietary data sources and various tools & techniques to gather and analyses information.

Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.

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SOURCE Transparency Market Research


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