The blood group typing market is projected to reach $3.12 billion by 2021 from $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 consolidated in nature due to the presence of a few large players. The prominent players in the market are Bio-Rad Laboratories, Inc. (U.S.), Grifols, S.A. (Spain), Immucor, Inc. (U.S.), Ortho Clinical Diagnostics, Inc. (U.S.), Quotient, Ltd. (U.S.), Novacyt Group (France), BAG Healthcare GmbH (Germany), Rapid Labs (U.K.), Day medical SA (Switzerland), DIAGAST (France), and AXO Science (France).
The key strategies followed by most companies in the market are product launches and acquisitions. Bio-Rad Laboratories, Inc. (U.S.), Quotient, Ltd. (U.S.), Immucor, Inc. (U.S.), BAG Healthcare GmbH (Germany), and Ortho Clinical Diagnostics, Inc. (U.S.) are some of the major players operating in the blood group typing market.
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.
The report provides insights on the following pointers:
· Market Penetration: Comprehensive information on the product portfolios of the top players in the blood group typing market.
· Product Development/Innovation: Detailed insights on the upcoming technologies, R&D activities, and product launches in the blood group typing market.
· Competitive Assessment: In-depth assessment of the market strategies, geographic and business segments, and product portfolios of the leading players in the blood group typing market.
Market Development: Comprehensive information about emerging markets. This report analyzes the market for blood group typing products across geographies.
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