Immunohematology Market Size

Immunohematology Market Size

Immunohematology Market size exceeded USD 2.3 billion in 2020 and is predicted to grow at 4% CAGR between 2021 and 2027. Market growth is attributed to the rising awareness surrounding blood donation. Several private and public entities as well as NGOs are noted to organize awareness campaigns for importance of blood donation as well as safe blood and blood products. Also, immunohematology technologies enable the detection of blood associated diseases and infections, thus fundamentally transforming the market space.

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The COVID-19 pandemic has disrupted all healthcare services including blood transfusion, storage as well as similar blood component services. At the onset of coronavirus, the research fraternity stated that transmission of COVID-19 infection via blood transfusion is only theorical and highly minimal. It is also noted that owing to the pandemic, governments as well as healthcare associations have implemented various regulations and guidelines to limit the spread of infection among healthcare practitioners.

While elective surgeries and non-urgent clinical interventions were deferred as a measure to optimise healthcare facilities for the treatment of COVID-19 patients, the demand for blood also plummeted. On the upside, the U.S. Food and Drug Administration (FDA) sanctioned emergency authorization of convalescent plasma therapy for the treatment of COVID-19 illness. The blood from recovered patients is studied to contain plasma and antibodies which boosts the infected patients’ immune system leading to a speedy recovery. With signs of hesitation being reported from several developing and under-developed countries, the blood transfusion services reported a sluggish growth and the market expanded in tandem with it. However, as consumers gain clarity surrounding plasma therapy and blood donation services, the market is anticipated to gain traction in the coming years.