LONDON--(BUSINESS WIRE)--The global blood grouping reagents market is expected to grow by USD 443.28 million during 2020-2024, according to the latest market research report by Technavio, progressing at a CAGR of over 10%. The growth of the market can be attributed to factors such as the increasing prevalence of chronic disorders, rise in blood donations, and the demand for blood transfusions and blood group typing. Request a free sample report
The market research segments the blood grouping reagents market by end-users (hospitals and blood banks, clinical laboratories, and academic and research institutes) and by geography (Asia, Europe, North America, and ROW).
Blood Grouping Reagents Market End-Users Outlook (Revenue, USD Million, 2020-2024)
• Hospitals and blood banks
• Clinical laboratories
• Academic and research institutes
Hospitals and blood banks will be the major end-users for blood-grouping reagents during the forecast period. Blood grouping agents are widely used in emergency departments, urgent care centers, and ICUs of hospitals. The increase in the number of hospitals and clinics is the critical factor driving the growth of the segment. The emergence of social media has also fostered the growth of the segment. For instance, in 2017, Facebook partnered with various blood donation centers across the world to increase the number of blood donors. Such initiatives are boosting the growth of the market.
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Blood Grouping Reagents Market Regional Outlook (Revenue, USD Million, 2020-2024)
• North America
The North American region led the bleeding disorder market in 2019, followed by Europe, Asia, and ROW. During the forecast period, North America is expected to retain its position as the largest market for blood-grouping reagents. This is due to the growing prevalence of chronic conditions and various types of cancer in the region. Also, the strong presence of vendors in the US is ensuring the easy availability of a wide range of products, which is contributing to the growth of blood-grouping reagents market in North America.
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Major Five Blood-Grouping Reagents Companies:
Bio-Rad Laboratories Inc., DIAGAST, Grifols SA, Immucor Inc., and Merck KGaA are among the vendors who have a strong position in the global market.
Bio-Rad Laboratories Inc.
Bio-Rad Laboratories Inc. operates its business in the Life science and Clinical diagnostics segments. Seraclone ABO/Rh reagents, Biotestcell Reagent Red Blood Cells, and Rare antisera are some of the key offerings of the company.
DIAGAST operates its business in the Reagents and Automated systems segments. ABD PAD is one of the key offerings of the company. It is a ready-to-use pad based on the latest technology, M-TRAP, which needs only three steps to perform a blood group test within 30 seconds in a safe and standardized manner.
Grifols SA operates the business across segments such as Bioscience, Diagnostic, Hospital, Bio supplies, and Others. Some of the essential products offered by the company include Conventional Serology Reagents, MDmulticard, and BLOODchip ID.
Immucor Inc. operates its business through the Unified business segment. The company offers a wide range of blood grouping and typing reagents. These reagents include the complete product line of traditional antisera, consisting of the routine ABO groups to a monoclonal Anti-P1 and rare lectins.
Merck KGaA operates its business across segments such as Healthcare, Life Science, and Performance materials. BIOSCOT Blood Typing Reagents is one of the key offerings. These reagents are used for blood group typing and are compliant with the requirements of the European Directive.
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