Europe Blood Screening Market by Forecast to 2025 with Leading Key Players

The Europe blood screening market size was valued at USD 648.5 million in 2017. It is expected to witness a CAGR of 7.7% during the forecast period.

The Europe Blood Screening Market size is expected to reach USD 1.17 billion by 2025 according to a new report by Grand View Research, Inc. The market is expected to record a CAGR of 7.7% during the forecast period. Increasing number of blood transfusion processes performed along with stringent regulations in Europe mandating screening tests, such as NAT for testing HIV, HBV, and HCV, is contributing to the market growth.

Moreover, growth in the overall number of complex surgeries that require a large amount of blood and blood products along with rising cases of road accidents is expected to drive the market further. Additionally, import of products through contract agreements and development in the product technology by manufacturers of blood screening reagents and instruments are contributing to market expansion in the region.

For example, DiaSystem Scandinavia AB signed a distribution agreement with SNIBE, an Asian immunology test producer that focuses on immunoassay analyzers based on CLIA technology. DiaSystem specializes in the production and supply of reagents used in chemistry and immunoturbidimetry. This agreement has provided the former company with automated chemiluminescence instrument delivering a complete analytical system in areas, such as thyroid, renal function, hepatitis, and hepatic fibrosis.

Browse Details of Report @ https://www.grandviewresearch.com/industry-analysis/europe-blood-screening-market/

Further key findings from the study suggest:

• NAT led the technology segment in 2017 owing to a regulatory obligation for mandatory NAT screening for all blood donations.
• On the basis of product, reagents led the Europe blood screening market in 2017
• Germany held a majority of the market share in 2017 due to large number of blood donors.
• Moreover, stringent regulations in the country for screening of donations also contributed to its growth. The Paul-Ehrlich-Institut, a medical regulatory body in Germany, mandates NAT testing for HCV and HIV for all blood donations.
• Roche Diagnostics; Bio-Rad Laboratories, Inc.; Siemens Healthcare GmbH; Grifols, S.A.; Becton, Dickinson and Company; Agilent Technologies; Thermo Fisher Scientific, Inc.; and Danaher Corp. are some of the key companies operating in this market.