Immunohematology Market will witness 5.8% CAGR from 2018 to 2024

Fri Dec 7, 2018 - 11:00am UTC

The Germany immunohematology market accounted for significant revenue share in 2017 and is expected to achieve 4.8% CAGR over the forecast period with presence of regulatory authorities in the country for monitoring quality and safety of blood and blood products.

Sellbyville, United States – December 7, 2018

U.S. immunohematology market held the largest revenue share of USD 616.5 million in 2017 and will show similar trend during the forecast time-frame. Increasing prevalence of hematological disorders such as sickle cell anemia, leukemia and thalassemia will serve to be a major impact rendering factor in the market growth. Furthermore, strong foothold of well-established industry players in the country will further accelerate the U.S. immunohematology business growth.

Reagents segment dominated the immunohematology market with USD 1.2 billion in 2017 and is projected to grow significantly over the forecast timeframe. Increasing number of customized reagents used in antibody screening and blood typing processes will spur immunohematology reagents market.

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Global Immunohematology Market size is set to exceed USD 2.7 billion by 2024; according to a new research report by Global Market Insights, Inc. Growing technological advancements in immunohematology coupled with rising adoption of automated systems for blood screening will augment the market during the forecast period. Increasing patient preference towards technologically advanced automated analyzers as well as serologic techniques including ABO serum typing will drive the market growth. Moreover, increasing focus of industry players on developing advanced immunohematology techniques will further foster the immunohematology industry growth.

Rising prevalence of hematological diseases such as sickle-cell disorders, leukemia and thalassemia is another positive impact rendering factor in the immunohematology business growth. Increase in the number of programs organized by WHO to support national blood systems, for determination of timely access to safe and sufficient supply of blood and blood products will further propel market growth. However, stringent regulatory policies pertaining to blood and blood products may hamper immunohematology market growth in the coming years.

Gel cards segment is estimated to witness highest CAGR of 6.2% CAGR by 2024 due to growing demand for gel cards in alloantibody identification, antigen detection and cross matching. Gel cards are safer, quicker, reduces technical/interpretive errors and does not require skilled professionals. Aforementioned benefits should further boost segmental growth in forthcoming years.

Hospitals segment accounted for 54.2% revenue share in 2017 owing to rising number of emergency cases including accidents and trauma cases. High adoption rate for medical products and consumables in hospital settings will spur segmental growth in foreseeable future. Diagnostic laboratories segment will witness significant CAGR in the coming years due to increasing patient preference towards advanced laboratory diagnostic techniques.

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Some of the prominent industry players operating in global market include Thermo Fisher Scientific, Beckman Coulter, Hologic, Siemens Healthcare GmbH, Grifols, Ortho Clinical Diagnostics, Immucor, BD (Becton Dickinson), Abbott, MTC Invitro, Antisel, Roche Diagnostics, Bio-Rad Laboratories. Industry players are primarily focusing on inorganic strategies such as collaborations, mergers, acquisitions and new product launch to sustain market competition and capitalize on market opportunities.

Contact Info:
Name: Arun Hegde
Email: Send Email
Organization: Global Market Insights, Inc.

This news is published on Reuters.

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