Global Blood Transfusion Diagnostics Market to Expand Positively Amid COVID-19, Finds Fact.MR

DUBLIN 2, Ireland - April 23, 2020 - PRLog -- lood transfusions have gained wide acceptance amongst medical practitioners and healthcare stakeholders, in the wake of rising prevalence of chronic ailments such as sickle cell anemia, aplastic anemia and leukemia. As a result, several key market players have augmented their spending on research and development of advanced instruments, assays and kits for hospitals and blood banks.

With the COVID-19 pandemic's outbreak, the prospects for the global blood transfusion diagnostics market are set to heighten. Recently, the United States FDA has approved trials of plasma transfusions from recovered COVID-19 patients to infected ones. The plasma from formerly infected patients contain antibodies which are anticipated to help infected patients fight the disease. Based on these trends, the global blood transfusion diagnostics market is set to leverage at a CAGR of 6.3% across the forecast period.

Key Takeaways of Global Blood Transfusion Diagnostics Market Study:

• By product type, the kits & reagents segment is projected to grow the fastest, at a CAGR of 6.8%. Increase in the volume of blood donations and rise in the number of blood transfusion procedures have augmented consumption of blood transfusion kits and reagents.

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• By application, molecular disease screening is poised to register maximum growth, attributed to rising prevalence of Transfusion Transmitted Infections (TTIs) such as Hepatitis C &B and introduction of techniques such as Nucleic Acid Amplification Test (NAT). The segment is anticipated to expand 1.4x during the forecast period.

• By end-users, blood banks are projected to find substantial usage of blood transfusion diagnostics. More than two-fifths of the global blood transfusion diagnostics market shall be held by blood banks.

• By region, North America shall dominate the global blood transfusion diagnostics market. The North American market shall expand approximately 1.4x, capturing more than 3/10th of the overall market.

• Asia-Pacific is poised to grow most rapidly. The Asia-Pacific market shall leverage at a CAGR of 7.0%, capturing more than 2/5th of the market in the forecast period.

• Convalescent Plasma Therapy (CP) is being explored as a potential approach towards diagnosing and suggesting possible cure for the COVID-19 disease. The CP therapy has been in use since a century to prevent and treat several infectious diseases. Recent applications include cures for MERS, SARS and H1N1 infections.

• Market players such as CSL Behring are conducting research on eradicating the novel coronavirus.

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