The blood group typing market is projected to reach $3.12 billion by 2021 from $1.95 billion in 2016, at a CAGR of 9.8%.
Growth in the blood group typing market is primarily attributed to the increasing demand for blood and blood products, growing number of road accidents and trauma cases that necessitate blood transfusion, need for blood grouping during prenatal testing, and increasing usage of blood group typing in forensic sciences. Stringent regulatory standards for blood transfusion are also expected to fuel the growth of the blood group typing market during the forecast period.
The blood group typing market is segmented based on product and service, technique, test type, end user, and region. Apart from comprehensive geographic & devices analysis and market sizing, the report also provides a competitive landscape that covers the growth strategies adopted by industry players over the last three years. In addition, the company profiles comprise the product portfolios, developments, and strategies adopted by players to maintain and increase their shares in the market.
Browse 68 market data tables and 69 figures spread through 146 pages and in-depth TOC on "Blood Group Typing Market.
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North America accounted for the largest share of the market in 2016. However, in the coming five years, growth in the market is expected to be centered on Asia. The increasing prevalence and incidence rate of chronic disorders in Asia provides growth opportunities for players in the market. Key players are focusing on strategies such as product launches and acquisitions to strengthen their foothold in the market.
The report provides insights on the following pointers:
· Market Penetration: Comprehensive information on the product portfolios of the top players in the blood group typing market.
· Product Development/Innovation: Detailed insights on the upcoming technologies, R&D activities, and product launches in the blood group typing market.
· Competitive Assessment: In-depth assessment of the market strategies, geographic and business segments, and product portfolios of the leading players in the blood group typing market.
· Market Development: Comprehensive information about emerging markets. This report analyzes the market for blood group typing products across geographies.
· Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the blood group typing market.
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Based on technique, the market is segmented into PCR-based and microarray techniques, assay-based techniques, massively parallel sequencing, and other techniques. The PCR-based and microarray techniques segment is expected to grow at the highest CAGR during the forecast period. The large share and high growth of this segment can be attributed to the rising prevalence of chronic diseases and increasing R&D activities focused on understanding the molecular basis of blood and antibody-antigen interactions.
Based on the end user, the market is segmented into hospitals, blood banks, clinical laboratories, and other end users. The hospitals end-user segment is expected to grow at the highest CAGR during the forecast period. This growth can be attributed to the increasing awareness on blood donations and their importance, rising number of blood donations, and growing requirement of blood in surgical treatments.