Market Size of Global Blood Group Typing Industry
|2019 - 2029
|Base Year For Estimation
|Fastest Growing Market
*Disclaimer: Major Players sorted in no particular order
Need a report that reflects how COVID-19 has impacted this market and its growth?
Blood Group Typing Market Analysis
The blood group typing market is expected to register a CAGR of 9.5% over the forecast period.
During the COVID-19 public health emergency, the demand for blood group typing has increased subsequently. Many individuals with weak immune systems have been infected by COVID-19 and hospitalized and may require a blood transfusion due to COVID-19. As a result, the demand for blood group typing has risen during COVID-19, following the pandemic. Many governments have also taken the initiative to help increase blood donation. For instance, in June 2020, the Maharashtra state government in India used social media initiatives to increase the number of blood donations. The move was taken following the shortage of blood in the region. Such programs have positively impacted the global blood group typing market growth in many regions during the pandemic.
An increasing number of road accidents, emergencies, and trauma cases requiring blood transfusions, and the need for grouping of the blood in pregnancy is driving the growth of the market. Growing demand for blood group typing in prenatal testing, rising usage of blood group typing in forensic sciences, and strict governing standards for blood transfusion is also boosting the global blood group typing market growth. Blood group typing is done to safely donate blood or receive a blood transfusion. It is also done to see if a person has a substance called Rh factor on the surface of red blood cells. There is a huge demand for blood typing products in the market owing to the rising road accidents and blood transfusions. For instance, In October 2021, according to Germany's Federal Statistics Office (Destatis) in 2020, 5,131 people were killed in road traffic accidents in Germany. In the case of road accidents, there is a huge loss of blood and hence those patients require an immediate blood transfusion. Thus, the above-mentioned factors are expected to boost the growth of the market over the forecast period.