Blood and blood components market to reach 15.2 billion by 2028, according to Global Market Insights Inc.

Growing geriatric population with chronic illnesses requiring surgical procedures will drive the market demand. In addition, the increasing number of diseases such as aplastic anemia, leukemia, lymphoma which disturb the normal functioning of bone marrow leading to shortage of red blood cells will further boost the development of the industry. The increase in healthcare costs, the increase in the number of surgeries, road accidents, sports injuries, etc. requiring surgery will have a positive impact on the expansion of the blood and blood components market.

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Platelet segment exceeded $1.7 billion in 2021 and is expected to register a significant CAGR through 2028 due to the increasing use of platelets. Platelets are mainly used for prevention of bleeding in patients with platelet dysfunction or low platelet count. Treatments such as targeted therapies, chemotherapy, total body irradiation (TBI), or surgery can also impact platelet counts leading to platelet transfusion.

Some major findings of the Blood and Blood Components Market report include:

  • The increasing number of surgeries and the prevalence of chronic diseases will propel the progress of the market.
  • The increasing popularity of platelet-rich plasma therapy, especially in cosmetic procedures, sports injuries coupled with people’s growing interest in physical appearance boosting aesthetic procedures are a few aspects that are accelerating business prospects.
  • The presence of many industry players aiming to encourage people to donate blood will further strengthen their position in the market.
  • Europe held the largest revenue share in 2021, and the trend will continue to increase in the coming period.
  • The COVID-19 pandemic has severely affected the market share. The lockdown and other restrictions disrupted the supply chain by decreasing the number of blood donations during the blackout period.
  • However, scarcity of blood and transfusion-transmitted infections will hamper market revenue.

Browse key industry information spread over 150 pages with 234 market data tables and 16 report figures and graphs, “Blood and Blood Components Market Analysis by Product (Whole Blood, Blood Components, Red Blood Cells, Platelets, Plasma, White Blood Cells}), Application (Anemia, Trauma and Surgery, Cancer Treatment, Bleeding Disorders), End Use (Hospitals, Outpatient Surgical Centers), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share and Forecast, 2022-2028” in detail with the table of contents:

The blood and blood components market in the coagulation disorders segment accounted for approximately 23% of revenue share in 2021. The increasing incidence of coagulation disorders such as hemophilia, Von Willebrand disease (VWD) , etc. will promote the value of the segment. The incidence of von Willebrand’s disease (VWD) increases in women during menstruation, pregnancy and after childbirth. Also, patients with bleeding disorders suffer from severe blood loss after injury. Hence, in such cases, transfusion of essential blood components is required, which is driving the demand of the segment.

The Ambulatory Surgical Center (ASC) segment has overtaken $2.7 billion in 2021, due to the strong preference of patients in developed countries coupled with the profitability offered by these establishments. Additionally, UPSs provide convenience, accessibility, reduced wait times, and safety. Surgeries that do not require hospitalization for observation are mostly performed in outpatient centers. Thus, the aforementioned factors will boost the industry statistics.

North America blood and blood components market was valued at $3.3 billion in 2021 and the trend will continue to increase. Rising incidence of cancer and increasing demand for surgeries will propel regional trends. According to the American Cancer Society, there were approximately 1.9 million new cases of cancer diagnosed in the United States in 2021. Additionally, the presence of organizations such as the American Red Cross which initiates various programs to promote blood donation to the public by providing various gifts and vouchers will improve the prospects of the regional industry.

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Some of the major commercial players operating in the blood and blood components industry include National Blood Authority Australia, South African National Blood Service, American Red Cross, Indian Red Cross, European Blood Alliance, Vitalant and the American Association of Blood Banks.

About Global Market Insights

Global Market Insights Inc., headquartered in Delaware, US, is a global provider of market research and advisory services, offering syndicated and custom research reports as well as growth advisory services. Our business intelligence and industry research reports provide clients with in-depth insights and actionable market data specially designed and presented to aid in strategic decision-making. These comprehensive reports are designed using proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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