Blood Group Typing Market to Rise at 7.2% CAGR till 2027

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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.

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In spite of the COVID-19 pandemic and the imposing of lockdown restrictions worldwide, the production and distribution of regenerative medicine has not been affected as the hospitals and clinics are functioning on a regular basis and there is a high demand for this medicine which can be used for cell repairing, tissue engineering, and other purposes. Thus, the COVID-19 pandemic has no major impact on the regenerative medicine market, which is one of the driving factors for the growth of this market.

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Hrushi Dudhane

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