The COVID-19 Outbreak to Radically Alter the Blood Group Typing Market Dynamics in the Coming Years

1. Title : Blood Group Typing Market Worth $2.68 Billion at 7.2% CAGR; Dominant Players Such as Grifols and Merck Focus on Developing Advanced Blood Typing Solutions The COVID-19 Outbreak to Radically Alter the Blood Group Typing Market Dynamics in the Coming Years Description : Blood Group Typing Market to Gather Steam; Ortho Clinical Partners with Quotient Limited for Global Distribution of Quotient’s Transfusion Diagnostics Platform: Fortune Business Insights™ Content : The global blood group typing market size is projected to reach USD 2.68 billion by 2027, exhibiting a CAGR of 7.2% during the forecast period. Rising prevalence of anemia worldwide is set to fuel the growth of this market, shares Fortune Business Insights™ in its report, titled “Blood Group Typing Market Size, Share & Industry Analysis, By Product (Instruments, and Reagents & Kits), By Test Type (ABO Tests, Antigen Typing, Antibody Screening, Cross-matching Tests, and HLA Typing), By Techniques (Serology Tests, and Molecular Tests), By End User (Hospital-based Laboratories, and Independent Laboratories & Blood Banks), and Regional Forecast, 2020-2027”.World Health Organization (WHO) data reveals that nearly 1.62 billion people, or 24.8% of the global population, are affected by anemia. Anemia is the deficiency of healthy red blood cells (RBCs) in the body, which leads to lack of oxygen supply to the organs. As a result, anemic people need to undergo regular blood transfusion exercises to maintain a stable RBC count in the body. Blood transfusion process requires blood typing tests to ensure compatibility between the donor’s and recipient’s blood type. Thus, growing incidence of anemia and the subsequent rising demand for blood transfusion will lead the blood group typing market trends in the foreseeable future. An Overview of the Impact of COVID-19 on this Market: The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic. We are taking continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of corona virus outbreak across industries to help you prepare for the future. Click here to get the short-term and long-term impact of COVID-19 on this [Market].

2. For More Information : https://www.fortunebusinessinsights.com/industry-reports/blood- group-typing-market-101767 Market Restraint Fears Arising from Covid-19 Pandemic to Severely Affect Blood Collection Globally Voluntary blood donations are a prerequisite for patients suffering from chronic blood disorders as a higher stock of blood samples increases the probability of finding matching blood types for such individuals. Unfortunately, the COVID-19 outbreak has led to a drastic decline in voluntary blood donations across the globe, resulting from fears associated with the safety standards of the equipment used and imposition of lockdowns in most countries. Health systems in many countries have begun sounding alarm bells as existing stock of blood has started falling. For instance, the UK’s National Health Service (NHS) reported in March 2020 that voluntary donations fell by 15%. Similarly, in India, the Rotary Blood Bank and the Indian Red Cross Society declared that they were facing a shocking 80% shortfall of blood collection. Such sudden dips in blood donations are likely to have unfathomable effects on the patients suffering from diseases such as thalassemia and hemophilia, which require regular blood transfusions. Since the efficacy of blood typing mechanisms is heavily dependent on blood donations, a fall in these activities will negatively impact the blood group typing market growth. Regional Analysis North America to Lead the Market Supported by Rapid Adoption of Advanced Blood Typing Tests With a market size of USD 572.0 million, North America is set to dominate the blood group typing market share during the forecast period. This is mainly attributable to the high adoption rate of advanced blood typing tests and methods in the region. Additionally, players operating in the region are provided adequate regulatory support, which has created conducive environment for innovation in the healthcare sector. Europe is anticipated to register an impressive CAGR on account of rising demand for safe blood transfusion techniques, while Asia-Pacific is slated to showcase considerable growth owing to increasing prevalence of chronic conditions such as anemia. More Trending Topics from Fortune Business Insights: X-ray Flat Panel Detectors Market | Share, Size, Regional Analysis, Trends, Revenue Expectation, Growth Forecast till 2026 Europe Compression Bandages Market to Witness a Healthy CAGR of 5.2%; Advent of Efficient Pressure Bandages to Provide Impetus, says Fortune Business Insights