The Latin American Blood Group Typing Market size is estimated to be worth USD 0.53 billion by 2027 from USD 0.32 billion in 2022, growing at a CAGR of 10.45% during the forecast period.
The increasing need for blood group typing in prenatal testing, the rising number of traffic accidents, crises, and trauma cases demanding blood transfusions, and the rising number of blood donations contribute to the expansion of the Latin America Blood group typing market. To safely donate blood or receive a blood transfusion, blood group typing is performed. It's also done to examine if a person's red blood cells have an Rh factor chemical on their surface. Road accidents result in significant blood loss, necessitating an emergency blood transfusion for those patients.
As a result, the market's growth is likely to be boosted throughout the forecast period. Some of the other factors projected to aid development include increased blood group typing in forensic sciences and an increase in demand for blood and related products. Due to an increase in the need for blood transfusions, the industry has a lot of potentials. Donor blood compatibility with recipient patients is critical for transfusion purposes. As a result, blood samples are cross-matched with each other before transfusion to ensure compatibility.
Before a blood transfusion, a blood bank would often run various tests, including screening for antibodies that might cause harm if transfused, screening for infectious agents, ABO group and Rh type, screening for blood-group antibodies, and serologic testing. The necessity of blood group typing is becoming increasingly important as the trend of blood donation as a social concern grows. Accidents are becoming more common, and the number of cancer patients is rising, driving the need for blood transfusions throughout the world. Blood group typing is a required test process before blood transfusions to determine blood compatibility between the donor and the receiver and the Rh factor. The market is expected to increase further as more of these tests diagnose Hemolytic Disease of the Newborn (HDN).
Blood bank regents’ sales are declining because of a lack of awareness and skilled professionals, which acts as a market restriction for blood group typing. Administrative and logistical issues, poor turnaround, high expense, the need for high-end equipment, and insufficient information systems for managing the results are all restricting factors.
Some challenges, such as a lack of blood service infrastructure, and the danger of infectious illnesses like hepatitis B and HIV, may hinder market expansion in the next few years.
This research report on the Latin America Blood Group Typing Market has been segmented and sub-segmented into the following categories:
By Product:
By Test Type:
By Technique:
By End User:
By Country:
Regional Analysis:
Because of the lack of public knowledge regarding blood transfusion safety and the availability of large underpenetrated markets in each of these areas, Latin America is predicted to have a lower CAGR throughout the forecast period. In this area, the rising prevalence of infectious illness is a key issue, driving market expansion. On the other hand, the rising incidence of traffic accidents and trauma cases in this region is projected to increase these tests' adoption.
KEY MARKET PLAYERS:
Bio-Rad Laboratories, Inc., Grifols, S.A., Immucor Inc., Ortho Clinical Diagnostics, Inc., Quotient, Ltd., Novacyt Group, BAG Healthcare GmbH, Rapid Labs, Day medical SA, DIAGAST, and AXO Science are some of the notable companies operating in the Latin America blood group typing market.
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