Immunohematology Market Size to Grow by USD 907.43 Mn| Growing Demand for Blood Banks and their Potential to Increase Sales will Present Significant…

The immunohematology market is expected to grow by USD 907.43 mn from 2020 to 2025, as per Technavio. The growth momentum of the market will accelerate at a CAGR of 7.75%. The year-over-year growth rate of the market in 2021 is 5.71%. The pharmacovigilance market is fragmented, with several players occupying market share. Vendors are using various organic and inorganic growth strategies to compete in the market. North America is expected to dominate the market during the forecast period.

Read the 120-page report with TOC on "Immunohematology MarketAnalysis Report byProduct (analyzers and systems and reagents) and Geography (North America, Europe, Asia, and ROW), and the Segment Forecasts,2021-2025".

The market is driven by the growing demand for blood banks and their potential to increase sales. After collection of the blood, it goes under various rounds of immunohematology tests, such as screening for infectious diseases and blood typing, as well as serological tests for blood plasma. After this, the blood is sent to hospitals and healthcare centers for transfusion. Cord blood banking is becoming increasingly popular as cord blood contains stem cells, which is the safest option to treat genetic disorders. However, factors such as high maintenance costs and less reimbursement for blood components may challenge market growth.

Major Five Immunohematology Companies and Their Offerings:

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Immunohematology Market Product Outlook (Revenue, USD mn, 2020-2025)

Immunohematology Market Geography Outlook (Revenue, USD mn, 2020-2025)

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Immunohematology Market Size to Grow by USD 907.43 Mn| Growing Demand for Blood Banks and their Potential to Increase Sales will Present Significant...