Immunohematology Market Size

Immunohematology Market Analysis

The immunohematology market studied is expected to register an anticipated CAGR of 9.2% over the forecast period.

COVID-19 has impacted market growth. The increased COVID-19 cases and lockdowns imposed by the government all over the world have significantly decreased trauma cases, blood transfusion services, blood donation, and the admission of people suffering from blood disorders to avoid the risk of getting infected by the coronavirus. For instance, according to an article published in Transfusion Therapy and Hemotherapy in April 2022, the Hospitals were compelled to save their supplies in reaction to the decline in blood donations by postponing non-urgent surgeries and organ transplants or reducing transfusion volumes to prevent blood shortages. The same source stated that blood donation rates dropped on average by 38%, while in certain regions, they dropped by as much as 67%. Thus, the decreased blood donations and the demand for immunohematology testing decreased in the blood banks, which has impacted the market growth during the pandemic. Also, the decrease in the number of elective surgical procedures has impacted the market growth. For instance, as per an article published in PLOS One in March 2022, it has been observed that there was a 65.5% decrease in elective cases and a 52.7% decrease in the volume of adult cardiac surgery in the United States. Thus, the decreased number of surgeries and treatment services for patients suffering from blood-related disorders has impacted the demand for hematological testing. However, the resumed services and increased patient visits have increased the market growth and are expected to fuel the market growth over the forecast period.

Factors such as the increasing incidence of trauma and immuno-hematological disorders and technological advancements for the development of new products are expected to boost the market growth.

The incidence and prevalence of blood-related and other chronic disorders such as hemophilia, sickle cell disease, blood cancer, and others are increasing among the population. For instance, according to 2022 statistics published by the Leukemia Foundation, more than 1,35,000 people were living with blood cancer or related blood disorders in Australia in 2022, and this number is projected to reach more than 2,75,000 by 2035. Also, as per the same source, about 19,403 Australians were expected to be diagnosed with blood cancers such as leukemia, lymphoma, and myeloma in 2022. Thus, the increasing prevalence of leukemia and other blood-related cancers among the population is expected to increase the demand for blood transfusion to help treat low blood counts in patients, hence propelling the demand for immunohematology analyzers and screening antibodies over the forecast period.

Moreover, the rising product launches increase the availability of advanced hematology analyzers in the market over the forecast period. For instance, in September 2021, Ortho Clinical Diagnostics launched Immediate Spin Crossmatch (ISXM), ORTHO VISION, and ORTHO VISION MAX Analyzers to aid in detecting incompatibility between donors and recipients in blood transfusions. A serological test, ISXM, is used in blood transfusions to identify ABO blood type incompatibility between recipient serum and plasma and donor red blood cells.

Therefore, owing to the aforementioned factors, such as the high burden of leukemia and blood disorders and new product launches, the studied market is expected to grow over the forecast period. However, the high cost of products and lack of skilled personnel are likely to impede the growth of the immunohematology market over the forecast period.