Immunohematology Market worth over $3bn by 2027
Published Date: July 27, 2021 Authors: Sumant Ugalmugle
Immunohematology Market size is set to surpass USD 3 billion by 2027, according to a new research report by Global Market Insights Inc.
Rapidly improving healthcare infrastructure, rising demand for fast hematology test results, and growing investments in R&D will positively impact the market growth. Also, rising blood donation awareness to encourage the market demand in the coming years.
The highly contagious nature of the COVID-19 virus has driven the use of immunohematology technologies such as plasma therapy to successfully treat patients. According to the study conducted by FDA, the convalescent plasma therapy helped many critically ill patients suffering from COVID-19. The convalescent plasma therapy boosts the immune system of the coronavirus-infected patient and helps the body to fight against the virus.
Rising burden of anemia will foster the market expansion
The growth of the immunohematology market is on account of the increasing prevalence of blood-associated disorders like anemia, thalassemia, sickle cell anemia, hemophilia, and others. Moreover, the growing prevalence of anemia across the globe will augment the industry demand. The prevalence rate of anemia is 22.8% globally and it majorly affects children and women. Pregnant females and women of reproductive age are at high risk of developing anemia which may result in miscarriage, still birth, premature delivery, and other complications. Additionally, the high incidences of anemia in pregnant women, high prevalence of hematology disorders, and high risk of anemia in children due to genetic mutation will impel the market revenue.
Prevalence of transfusion-transmissible infections in blood donations may hamper the immunohematology market progression
The rising incidence of transfusion-transmissible infections in blood donations may hamper the industry expansion. According to the WHO, 82% and 80.3% of lower-middle-income countries and low-income countries don’t follow the WHO guidelines while screening the blood for infectious disease. The transfusion-transmissible infections like HIV, hepatitis B or C, syphilis, and others may get transmitted through the donated blood. Blood screening is very necessary according to quality system requirements.
Growing demand for immunohematology analyzer will enhance the segment growth
The immunohematology analyzer is anticipated to exhibit a lucrative growth rate of 3.8% and will reach USD 1 billion by 2027. The immunohematology analyzer is used to detect blood disorders, screening blood, blood infections, and others. The diagnostic screening of the blood is significantly increasing owing to the rise in the prevalence of blood disorders and rising regular health checkups. Such wide application of immunohematology systems will stimulate the industry revenue.
Browse key industry insights spread across 150 pages with 177 market data tables & 17 figures & charts from the report, “Immunohematology Market Size Product (Analyzers, Reagents), By Technology (Biochips, Gel Cards, Microplates, PCR, Erythrocyte-magnetized Technology), By End-use (Hospitals, Diagnostic Laboratories, Blood Banks), COVID-19 Impact Analysis, Regional Outlook Application Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027” in detail along with the table of contents:
Increasing usage of gel cards will accelerate the segment demand
The gel card in the immunohematology market is estimated to attain a CAGR of 4.3% and will account for 899 million by 2027. The gel cards are used during blood donation to detect the presence of unexpected antibodies in the blood. As the blood donation rate rises the demand for gel cards simultaneously increases. Governments and NGOs are campaigning to increase the rate of blood donation around the globe. An increase in blood donation will fuel the industry progression during the forecast years.
Diagnostic laboratory segment will propel the immunohematology market value
The diagnostic laboratories segment was valued at USD 568.3 million in 2020 led by the increasing immunohematology testing provided by various vendors coupled with the rising prevalence of hematological disorders. Also, a large number of small, medium and large diagnostic laboratories use immunohematology devices to screen the blood. Such high blood screening testing for regular health checkups or disease-associated testing will significantly influence the market growth.
High penetration of mobile health in European region will upsurge the adoption of immunohematology
Europe immunohematology market held over 27.8% of revenue share in 2020. Immunohematology devices are gaining momentum in the countries of Europe largely due to the high geriatric population in the region. The array of hematological tests for patients suffering from specific diseases, disabilities, and for health improvement are constantly being done in this region. In addition, the high market penetration of advanced automated immunohematology devices and the presence of favorable government initiatives are projected to spur the market during the forecast period. Furthermore, various market players are offering automated immunohematology devices for bulk screening.
Companies are focusing on launching various immunohematology services to boost the market expansion
Some of the major leaders operating in the global market are Beckman Coulter, Thermo Fisher Scientific, Hologic, Abbott, Roche Diagnostics, Siemens Healthcare GmbH, Immucor, BD (Becton Dickinson), MTC Invitro, Antisel, Grifols, Ortho Clinical Diagnostics, Bio-Rad Laboratories. These participants are undertake various strategic initiatives to gain a competitive edge in the market.