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Over 5.8% CAGR, Immunohematology Market is Expected to Exhibit $2.7 Bn By 2024

Author : Rahul Sankrityayan | Published Date : 2019-05-31 

Global Immunohematology Market is set to exceed USD 2.7 billion by 2024; according to a new research report by Global Market Insights. Increasing number of blood banks and trauma centers in developed countries such as U.S. will augment the immunohematology industry growth in upcoming years. For instance, according to America’s Blood Centers, there are more than 600 blood centers in the U.S. and around 19,000 pints of blood are collected annually that will increase demand for immunohematology devices for blood group determination. Moreover, growing number of not-for profit organization supplying blood to over 3,500 hospitals will further strengthen the demand for immunohematology analyzers stimulating immunohematology industry growth in forthcoming years.

Growing number of blood donation and blood transfusion awareness program in developing countries should escalate industry growth during the forecast timeframe. For instance, blood donation program organized by WHO helps in spreading awareness regarding blood donation ensuring safe supply of blood boosts the demand for immunohematology analyzers. Also, WHO arranges blood transfusion safety programs that spreads provides technical assistance and policy guidance for ensuring universal access to safe blood and blood products, thereby propelling industry growth. However, high cost of immunohematology instruments will hamper the industry growth in foreseeable future.

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Reagents segment was valued at USD 1.2 billion in 2017 and is expected to have considerable revenue size during the forecast timeframe. Growth of segment can be attributed to the high utilization of hematology reagents in blood transfusion process. Key industry players manufacture superior quality reagents that are typically used in accurate antigen detection. Also, many reagents detect anti-globulin with high specificity that has increased its demand over years escalating segmental growth.
 
PCR segment will experience 5.8% CAGR during the forecast timeframe. Considerable segmental growth will be as a result of growing use of PCR technique in diagnosing the genetic blood disorders. High prevalence of rare hereditary blood disorders will elevate demand for PCR technique. Sickle cell anemia is most prevalent hereditary blood disorder in emerging economies. For instance, according to WHO, millions of people globally are affected by sickle cell anemia requiring accurate diagnosis that will substantially stimulate the demand for PCR technique in upcoming years.
 
Diagnostic laboratories segment of immunohematology market accounted for 23.6% in 2017 owing to the increasing R&D efforts for drug development activities. Extensive use of immunohematology devices in diagnostic laboratories for diagnosis of disorders such as iron deficiencies will augment the business growth in forthcoming years. Moreover, increasing diagnostic laboratories in developed as well as developing countries will escalate the demand for immunohematology devices boosting the industry growth in forthcoming years.
 
China immunohematology market witnessed 6.6% CAGR in 2017 and is anticipated to grow exponentially over forecast timeframe. Increasing prevalence of blood disorders will enhance the industry growth. According to BMC Public Health, in 2015, number of pregnant women suffering from anemia has increased during the recent years that has resulted a hike in demand for immunohematology systems escalating the industry growth. Also, developed healthcare infrastructure ensures availability of advanced immunohematology systems driving the immunohematology market growth. 

Germany immunohematology market accounted for 20.0% revenue share of Europe market. Europe based companies focus their efforts on integrating advanced technology into the immunohematology devices. Accurate analysis and blood group determination enabled by these technologically advanced immunohematology diseases will ensure high industry growth during the forecast timeframe. Moreover, increasing number of blood transfusions will favor the demand for immunohematology devices escalating the immunohematology industry growth in the upcoming years.

Immunohematology Market, By Product (USD Million)

1 Analyzers
2 Reagents

Immunohematology Market, By Technology (USD million)

1 Biochips
2 Gel cards
3 Microplates
4 PCR
5 Erythrocyte-magnetized technology

Immunohematology Market, By End-use (USD million)

1 Hospitals
2 Diagnostic laboratories
3 Blood banks

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Chapter 1. Methodology

1.1. Methodology
1.2. Market definitions
1.3. Forecast parameters
1.4. Data sources
1.4.1.  Secondary
1.4.1.1. Paid sources
1.4.1.2. Unpaid sources
1.4.2.  Primary

Chapter 2. Executive Summary

2.1. Immunohematology industry 3600 synopsis, 2013 - 2024
2.1.1.  Business trends
2.1.2.  Product trends
2.1.3.  Technology trends
2.1.4.  End-use trends
2.1.5.  Regional trends

Chapter 3. Immunohematology Industry Insights

3.1. Industry segmentation
3.2. Industry landscape, 2013 - 2024
3.3. Industry impact forces

3.3.1.  Growth drivers
3.3.1.1.  Increasing number of blood banks and trauma centers in developed countries
3.3.1.2.  Rising prevalence rate of various hematological disorders
3.3.1.3.  Increasing number of blood donation awareness programs in developing countries
3.3.1.4.  Technological advancements in immunohematology

3.3.2.  Industry pitfalls and challenges
3.3.2.1.  Dearth of skilled professionals
3.3.2.2.  Stringent regulatory policies
3.3.2.3.  High costs of techniques

Chapter 5. Immunohematology Market, By Technology

5.1. Key segment trends

5.2. Biochips
5.2.1.  Market size, by region, 2013-2024 (USD Million)

5.3. Gel cards
5.3.1.  Market size, by region, 2013-2024 (USD Million)

5.4. Microplates
5.4.1.  Market size, by region, 2013-2024 (USD Million)

5.5. Polymerase Chain Reaction
5.5.1.  Market size, by region, 2013-2024 (USD Million)

5.6. Erythrocyte-magnetized technology (EMT)
5.6.1.  Market size, by region, 2013-2024 (USD Million)

5.7. Erythrocyte-magnetized technology (EMT)
5.7.1.  Market size, by region, 2013-2024 (USD Million)

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Data Tables

TABLE 1.    Immunohematology industry 360° synopsis, 2013 – 2024
TABLE 2.    Immunohematology market, 2013-2017 (USD Mn)
TABLE 3.    Immunohematology market, 2018-2024 (USD Mn)
TABLE 4.    Immunohematology market, by product, 2013-2017 (USD Mn)
TABLE 5.    Immunohematology market, by product, 2018-2024 (USD Mn)
TABLE 6.    Immunohematology market, by technology, 2013-2017 (USD Mn)
TABLE 7.    Immunohematology market, by technology, 2018-2024 (USD Mn)
TABLE 8.    Immunohematology market, by end-use, 2013-2017 (USD Mn)
TABLE 9.    Immunohematology market, by end-use, 2018-2024 (USD Mn)
TABLE 10.    Immunohematology market, by region, 2013-2017 (USD Mn)

Related Report- Health Insurance Market

Know more @ https://www.marketwatch.com/press-release/over-4-cagr-health-insurance-market-size-will-reach-over-usd-1500-billion-by-2025-2019-05-31

About Author

Rahul Sankrityayan

Rahul Sankrityayan

Fortified with a post-graduate degree in Computer Applications, Rahul Sankrityan writes for Fractovia, where he pens down news and articles spanning across segments of technology industry that excite him on a day-to-day basis. Rahul comes with a rich experience in technical field as well as writing. He can be contacted at- [email protected] | https://twitter.com/sankritsays

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