The blood group typing market is projected to reach USD 3.12 billion by 2021 from USD 1.95 billion in 2016, at a CAGR of 9.8%.
Growth in the blood group typing market is primarily attributed to the increasing demand for blood and blood products, growing number of road accidents and trauma cases that necessitate blood transfusion, need for blood grouping during prenatal testing, and increasing usage of blood group typing in forensic sciences. Stringent regulatory standards for blood transfusion are also expected to fuel the growth of the blood group typing market during the forecast period.
The blood group typing market is segmented based on product & service, technique, test type, end user, and region. On the basis of product & service, the market is segmented into consumables, instruments, and services. The consumables segment is further categorized into antisera reagents, anti-human globulin reagents, red blood cells reagents, and blood bank saline. The consumables segment is expected to grow at the highest CAGR during the forecast period. The increase in blood donation rates and major surgical procedures (including organ transplant procedures) are the key factors driving the growth of this segment.
By technique, the blood group typing market is classified into PCR-based and microarray techniques, assay-based techniques, massively parallel sequencing, and other techniques. The PCR-based and microarray techniques segment is expected to grow at the highest CAGR during the forecast period. The large share and high growth of this segment can be attributed to the rising prevalence of chronic diseases and increasing R&D activities focused on understanding the molecular basis of blood and antibody-antigen interactions.
By test type, the blood group typing market is classified into antibody screening, HLA typing, cross-matching tests, ABO blood tests, and antigen typing. The antibody screening segment is expected to grow at the highest CAGR during the forecast period. The growth of this market segment is primarily driven by the increasing prevalence of chronic disorders and growing demand for the early diagnosis of diseases.
Based on end user, the market is classified into hospitals, blood banks, clinical laboratories, and other end users. The hospitals end-user segment is expected to grow at the highest CAGR during the forecast period. This growth can be attributed to the increasing awareness on blood donations and their importance, rising number of blood donations, and growing requirement of blood in surgical treatments.
On the basis of region, North America accounted for the largest share of the market in 2016. However, in the coming five years, growth in the market is expected to be centered on Asia. The increasing prevalence and incidence rate of chronic disorders in Asia provides growth opportunities for players in the market. Key players are focusing on strategies such as product launches and acquisitions to strengthen their foothold in the market.