According to a new market research report, the blood group typing market is poised for strong growth in the coming years. The report, released by MarketsandMarkets, predicts that the market will grow at a CAGR of 9.8% between 2021 and 2026.
The increasing demand for blood and blood products is a major driver of growth in the blood group typing market. As the world’s population continues to grow, the demand for blood transfusions is also increasing. Blood group typing is an important step in the transfusion process, as it ensures that the donor and recipient blood types are compatible.
The report identifies several other factors that are driving growth in the blood group typing market. These include the increasing prevalence of chronic diseases, such as cancer and cardiovascular diseases, which require blood transfusions as part of their treatment. In addition, the rising number of trauma cases and surgical procedures is also increasing the demand for blood and blood products.
The report also notes that technological advancements in blood group typing are contributing to market growth. New techniques, such as molecular diagnostics and polymerase chain reaction (PCR), are improving the accuracy and speed of blood group typing, making it easier for healthcare providers to perform the procedure.
Geographically, the report predicts that the Asia Pacific region will be the fastest-growing market for blood group typing during the forecast period. The increasing population and rising healthcare expenditure in countries such as China and India are expected to drive demand for blood group typing in the region.
Some of the key players in the blood group typing market identified in the report include Grifols, Bio-Rad Laboratories, Immucor, Ortho Clinical Diagnostics, Quotient, BAG Healthcare, and Merck KGaA.
Overall, the report suggests that the blood group typing market is poised for strong growth in the coming years, driven by increasing demand for blood and blood products, technological advancements, and rising healthcare expenditure in developing countries.
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