The exclusive COVID-19 impact analysis report by Axiom MRC provides a 360 degree analysis of micro and macro-economic factors on the global Immunohematology market. In addition, complete analysis of changes on the global Immunohematology market expenditure, economic and international policies on supply and demand side. The report also studies the impact of pandemic on global economies, international trade, business investments, GDP and marketing strategies of key players present in the market.
MARKET OVERVIEW- GLOBAL IMMUNOHEMATOLOGY MARKET
MARKET DRIVERS
The global immunohematology market is driven by increase in prevalence of various blood diseases in most countries around the world. Rising prevalence of chronic blood diseases is one of the major market drivers as it is likely to drive the demand for immunohematology products. Coagulation analyzers can accurately detect the coagulation criterion in various blood disorders such as hemophilia. People can be affected by different types of blood disorders and blood cancers. Common chronic blood disorders include anemia, blood clotting disorders such as hemophilia and blood clots, and blood cancers such as leukemia, lymphoma, and myeloma.
MARKET OPPORTUNITY
The market is expected to have growing new growth opportunities with rise in investment in RD activities by the manufacturers to develop innovative, efficient and safer immunohematology products. Technological progress in this market has led to many new diagnostic approaches such as in-vitro study, better known as a study of compatibility in the blood of donor and receiver. Recently developed test devices and many new transfusion techniques have also evolved with technological progress is expected to create new growth opportunities for the market in the upcoming years. Likewise, growth and diversification of immunohematology market along with rise in investment for healthcare infrastructure is expected to create new market opportunity during the projection period.
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MARKET RESTRAINTS
The global Immunohematology market is expected to have market restraints like higher cost of production and maintenance of products, lack of awareness regarding the immunohematology products. These key factors are certainly expected to create hurdles for the market growth during the forecast period.
MARKET GROWTH CHALLENGES
The major growth challenge for the market is high cost of immunohematology instruments and devices. Likewise, stringent regulation and quality standard for immunohematology products is expected to be major growth challenge for the market.
CUMULATIVE GROWTH ANALYSIS
The report provides in-depth analysis of global immunohematology market, market size, and compound annual growth rate (CAGR) for the forecast period of 2022-2028, considering 2021 as the base year. With increasing demand for various immunohematology in various applications has led the increasing demand for market and is expected to witness the growth at a specific CAGR from 2022-2028.
MARKET SEGMENTAL OVERVIEW
The global immunohematology market comprises of different market segment like product type, application, end-user, and geography.
IMMUNOHEMATOLOGY MARKET BY TYPE
By product type, the immunohematology includes key segments of analyzers systems and reagents. The analyzers systems segment is likely to have growing demand in the market. Technological advances and increasing automation are the key growth drivers for this segment. For example, advanced tools offer good sensitivity, reliability, specificity, ease of use and safety. Therefore, such technological developments drive the demand for analyzers and systems. Also, increasing test volume due to an increased awareness and early detection is also fueling growth of the analyzers and systems segment.
IMMUNOHEMATOLOGY MARKET BY APPLICATION
The immunohematology market finds its major applications in blood testing, antibody screening, HIV, hepatitis and others. Blood testing application segment has registered as a major market and is expected to maintain its dominance over the estimated time period. The growing demand for testing in case of blood-related diseases and infections and significantly increased over the years. This is a key driving factor for this application segment.
IMMUNOHEMATOLOGY MARKET BY END-USER
By end-user, the immunohematology includes key segments of hospitals clinics, diagnostic laboratories, blood banks and others. The hospital and clinics segment has registered as a major market and is expected to maintain its dominance over the estimated time period. It is essential and mandatory for hospitals to test donated blood for infections, set parameters of hematological components, and perform compatibility testing of donors and recipients before transfusion. Analyzers, cell counters and reagents help speed up the process to make the transfusion procedure efficient and safe. Blood banks is also one of the high growth segments due to the growing number of blood banks, growing awareness of donations, and growing number of voluntary donors worldwide.
IMMUNOHEMATOLOGY MARKET BY GEOGRAPHY
The global Immunohematology market is studied for the following region North America, Europe, Asia-Pacific and Rest of the world (RoW). North America is anticipated to lead in the immunohematology market during the forecast period (2022-2028). The high number of trauma centers and blood banks present in the region is the main reason for the high demand for immunohematology products in this region. A large cohort of target diseases like sickle cell anemia and cancer contribute to the strong demand of immunohematology products. Also, important factors such as the ever-increasing geriatric population, a favorable reimbursement scenario, advanced technological facilities and the introduction of advanced technologies for various testing procedures can be attributed to this growth. Europe is also a major shareholder in the immunohematology market. The presence of key players such as Grifols, Roche Diagnostics Corporation and Siemens Healthcare is driving market growth in this region
COMPETITIVE LANDSCAPE ANALYSIS
The competitive landscape analysis of Immunohematology market is majorly focused on expanding the global growth of Immunohematology with new product launches, partnership/ agreement and merger acquisitions which has boosted the market growth at highest pace. Besides, presence of wide range of manufacturers operating in the market offers range of products in different application to fulfill the required demand has further contributed healthy growth in the market.
The key players studied in market are Bio-Rad Laboratories, ThermoFisher, BD (Becton Dickinson), Siemens Healthcare GmbH, Immucor, Ortho Clinical Diagnostics, Abbott, Beckman Coulter, Inc., Hologic, Inc., Grifols, Nihon Kohden, Sysmex Corporation, Danaher Corporation, BioSystems, Roche, Mindray among others.
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