Global Blood And Blood Components Market Size 2024, Forecast To 2033
11 Mar, 2024
The blood and blood components market has demonstrated substantial growth, climbing from $39.28 billion in 2023 to $41.29 billion in 2024, reflecting a compound annual growth rate (CAGR) of 5.1%. This growth during the historic period is attributed to various factors such as the increasing incidence of trauma and road accidents, a rising aging population, improved earnings and living standards, augmented healthcare expenditure, and enhanced awareness about blood donation. Looking towards 2028, the market is poised for robust expansion, targeting $50.67 billion at a CAGR of 5.2%. The anticipated growth is underpinned by factors like an increase in chronic diseases, governmental initiatives, and a rising demand for whole blood. Key trends in the forecast period involve collaborations with other industry players, the launch of innovative products, emphasis on research and development (R&D) activities, the utilization of IoT-based products to prevent blood contamination, and a focus on efficient blood transfusion management.
Global Blood And Blood Components Market Key Driver
The blood and blood components market is being propelled by the increasing incidence of trauma and road accidents, leading to a heightened demand for blood transfusions. Traumas such as hemorrhage and road accidents often result in significant blood loss that cannot be replenished by the body quickly enough. This necessitates the transfusion of blood and blood components into patients. The growing prevalence of diseases, along with the rising number of road accidents and traumas, is escalating the demand for blood. According to the Arizona Department of Health Services, trauma-related deaths increased by 19% in 2021 compared to 2020, with falls accounting for the majority of deaths and injuries. The market size is projected to grow from $X billion in 2023 to $Y billion in 2024 at a compound annual growth rate (CAGR) of Z%. Looking forward to 2028, the market is forecasted to reach $W billion.
Get A Free Sample Of The Global Blood And Blood Components Market ReportGlobal Blood And Blood Components Market Segments
The blood and blood components market covered in this report is segmented –
1) By Product: Whole Blood, Blood Components
2) By Blood Components: Red Blood Cells, Platelets, Plasma, White Blood Cells
3) By End-User: Hospitals, Ambulatory Surgical Centers, Others
4) By Application: Anemia, Trauma and Surgery, Cancer Treatment, Bleeding Disorders
By Geography:The regions covered in the blood and blood components market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain
North America was the largest region in the blood and blood components market in 2023. Western Europe was the second largest region in the global blood and blood components market analysis. The regions covered in the blood and blood components market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Major Blood And Blood Components Industry Players
American Red Cross, The Japanese Red Cross Society, Canadian Blood Services, Australian Red Cross, and Vitalant, SANQUIN BLOOD SUPPLY FOUNDATION, New York Blood Center, Blood Bank of Alaska, Blood Centers of America, Xinjiang Deyuan Bioengineering, Harbin Pacific Biopharmaceutical, Southern Shuanglin Bio-Pharmacy, Beijing Tiantan Biological Products, Shanghai RAAS Blood Products, China Biologic Products, Hualan Biological Engineering, Biotest AG, Lorne Laboratories UK, LMB Germany, Bio Products Laboratory Ltd, Clinical Trials Laboratory Services (CTLS), Roche, Hemanext Inc, Kedrion Biopharma, KalVista Pharmaceuticals, Personal Genome, Cellphire, Inc., Immuno-Mycologics INC, CSL Behring, Nordson Corporation, Octapharma Canada Inc., Abbott Laboratories, Grifols, Nipro Medical Corporation, Becton, Dickinson and Co
Get The Full Global Blood And Blood Components Market Report
Blood And Blood Components Market Overview
Blood is defined as entire human blood that has been obtained from a donor and processed for transfusion or further production. Blood component refers to a therapeutic component of human blood, including its red, white, platelet, and plasma cells. The blood and blood components market consist of sales of blood and blood component. The market involves the collection of donor's blood and segregating it into required components for the purpose of therapy.
Blood And Blood Components Global Market Report 2023 provides data on the global blood and blood components market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The blood and blood components market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.