Blood Group Typing Market Size

Blood Group Typing Market Size

Blood Group Typing Market size surpassed USD 1.5 billion in 2021 and is expected to grow at a CAGR of over 7.5% between 2022-2030. Growing need for blood transfusion procedures and a rising number of road accidents will push the industry growth.

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A rise in the number of road accidents and injuries worldwide is projected to accelerate the need for blood group typing consumables and services. Excessive loss of blood is considered to be one of the major causes of death after road accidents and injuries. Globally, hemorrhagic shock has a death rate of 55.9 in every 100,000 individuals. The urgent need to undertake blood transfusion procedures in such instances will boost the demand for blood typing tests and related instruments.

Blood typing plays a crucial role in blood transfusion and donations. It is a fast and easy method used to ensure that the donor and recipient are compatible to avoid any complications. It is extremely vital in pregnant women as incompatible blood transfusion can result in agglutination or blood clumping, which is essentially fatal.

Rising incidences of Transfusion Transmitted Infections (TTIs) will propel the market revenue. TTI infections such as HIV, hepatitis C virus (HCV), and hepatitis B virus (HBV) are an increasing concern in low-income and lower-middle-income economies.