August 26, 2022 09:40 ET | Source: ReportLinker ReportLinker

New York, Aug. 26, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Blood Transfusion Diagnostics Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Product, Application, and End User" - https://www.reportlinker.com/p06316328/?utm_source=GNW However, the problems associated with blood transfusion services hinder the overall market growth. Blood transfusion diagnostics refers to tests performed on blood and blood components before they are transfused to patients.A blood transfusion is a common procedure in which donated blood or blood components are transfused into the patient’s body through an intravenous line (IV). Each unit of blood must undergo blood typing, which refers to identification of blood type and blood screening, including disease detection tests to avoid side effects or transmission of infection. Blood screening before transfusion is performed through instruments, kits, and reagents to identify various diseases, such as HIV, hepatitis B, hepatitis C, Zika, and different viruses and infections. According to the data published by the National Institute of Cancer Prevention and Research (NICPR) and the Indian Council of Medical Research (ICMR), the yearly prevalence of cancer in India is estimated at ~2.25 million, leading to numerous surgical procedures. As per a 2019 study, titled "Challenges of blood transfusions in ?-thalassemia," approximately 26,000 patients with transfusion-dependent ?-thalassemia (TDT) are born every year, and around 90% of these births occur in low- or middle-income countries.Hemoglobinopathies, comprising sickle cell disease, are endemic in Africa, Asia, the Middle East, the Indian subcontinent, and the Mediterranean region. They are currently the most common rare inherited genetic diseases in Europe.Due to migration, hemoglobinopathies have been increasingly common in parts of North America and Northern and Western Europe, where they are not indigenous, and in their indigenous countries of Southern Europe. This led to an increase in the prevalence of ?-thalassemia.Approximately 800 patients with thalassemia are registered in the UK National Haemoglobinopathy Registry, with around 500 patients undergoing regular blood transfusions. Therefore, blood transfusion diagnostics are widely used in various surgical procedures, such as cardiac surgery and other invasive procedures. Chronic diseases, such as cancer, cardiovascular diseases, and renal disorders, are major causes of human death worldwide.These conditions are generally treated via surgical procedures, which are associated with a chance of excessive blood loss. Fresh blood is infused into patients to maintain their blood levels.Blood transfusion diagnostics are used during the blood infusion or reinfusion processes. Hence, the global blood transfusion diagnostics market is rising with the rapid increase in chronic diseases. Based on product, the global blood transfusion diagnostics market is bifurcated into instruments & kits and reagents.In 2021, the instruments & kits segment held a larger market share. The same segment is expected to register a higher CAGR in the market from 2022 to 2028.Based on application, the market is bifurcated into disease screening and blood grouping. The disease screening segment held a larger market share in 2021 and is expected to register a higher CAGR during the forecast period.Based on end user, the market is segmented into blood banks, hospitals, diagnostic laboratories, and plasma fractionation companies. The blood banks segment held the largest market share in 2021. The same segment is expected to register the highest CAGR in the global blood transfusion diagnostics market from 2022 to 2028. Impact of COVID-19 Pandemic on Global Blood Transfusion Diagnostics Market The COVID-19 pandemic negatively impacted blood services operations worldwide.Blood collection was affected due to the decrease in donor availability caused by avoidance of public places, social distancing policies, and cancellation of blood drives. The negative impact on blood collection led to a reduction in blood transfusion due to insufficient blood supply.For instance, a research conducted by RMIT University, Australia, titled "The Impact of COVID-19 on Blood Transfusion Services: A Systematic Review and Meta-Analysis," revealed that the average decrease in blood donations was found to be 38% in the country. To cope with the blood shortage, campaigns were implemented to appeal for blood donation, raise public awareness about the importance of blood donation, and gain donors’ confidence in safe blood donation. For instance, upon Korean Red Cross Blood Services’ (KRCBS) request, the Ministry of Health and Welfare (MoHW) approved the relaxation of the geographical restrictions regarding indigenous malaria, thus enabling the collection of more than 23,000 units of whole blood. Furthermore, doctors took the initiative to control unnecessary blood transfusions.For instance, according to the news published by ABC Science, in March 2022, Australian doctors warned against unnecessary blood transfusions in Australian hospitals. Also, as medical and surgical practices were restricted, the need for blood transfusions was decreased too. Thus, the above factors and instances indicate that the blood transfusion diagnostic market witnessed a negative COVID-19 impact. Various organic and inorganic strategies are adopted by companies operating in the global blood transfusion diagnostics market.The organic strategies mainly include product launches and product approvals. Further, inorganic growth strategies witnessed in the market are acquisitions, collaborations, and partnerships.These growth strategies allow the market players to expand their businesses and enhance their geographic presence, thereby contributing to the overall market growth. Further, acquisition and partnership strategies help the market players strengthen their customer base and expand their product portfolios. A few significant developments by key players in the global blood transfusion diagnostics market are listed below. • In July 2022, Quotient Limited announced an agreement with InfYnity Biomarkers, an R&D firm dedicated to utilizing biomarkers for managing infectious and immunology diseases. The two companies will partner to advance the safety and effectiveness of infectious disease testing by leveraging Quotient’s MosaiQ solution. • In November 2021, Roche announced the launch of the cobas 5800 System, a new molecular laboratory instrument, in countries accepting the CE mark. The cobas 5800 System helps address challenges that laboratories are facing from increased patient testing, reimbursement complexities, and the need for a more diverse testing menu while providing meaningful and timely results. While preparing the report on the global blood transfusion diagnostics market, a few major primary and secondary sources are the National Health and Medical Research Council (NHMRC), the Government of Canada, and the Kidney Research and Clinical Practice (KRCP). Read the full report: https://www.reportlinker.com/p06316328/?utm_source=GNW About Reportlinker ReportLinker is an award-winning market research solution. 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