Blood Market Expected to Reach $45,982 Million Till by 2023

Global Blood Market was valued at $33,500 million in 2016, and is estimated to reach $45,982 million by 2023, growing at a CAGR of 4.6% from 2017 to 2023. Blood market involves the selling of whole blood & blood components through various channels, such as blood banks, hospitals, and others. The donor blood is collected and is segregated into required components for therapy purpose. A basic blood transfusion procedure involves the transfer of red blood cells from one person to another, usually at a hospital during a surgery. Whole blood is rarely utilized in transfusions anymore, and only the blood components are required by the recipient, owing to the advancement in the medical technology.

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Increase in geriatric population, rise in incidence in trauma cases, technological advancement in medical technology for donor screening, and advancement in blood transfusion instruments are the major factors that drive the market growth. However, minimal invasive technology, which no longer need the blood transfusion, restrains the market growth. Improvement in the healthcare facilities in Asia-Pacific provide growth opportunities for the market.

Top Investment Pockets

Blood therapeutics is considered as the top investment pocket, owing to the significant growth opportunity. Blood therapeutics market is projected to grow at a highest CAGR of 5.0% during the analysis period, owing to the rise in demand for the use of blood components in treatments for fast recovery or healing purposes. Thus, the demand for blood components is high as compared to whole blood.

Geographical Analysis

Geographically, the market is divided into North America, Europe, Asia-Pacific, and LAMEA. North America held the leading position, owing to its well-developed healthcare industry and rise in number of patients population requiring blood & blood components. However, Asia-Pacific is anticipated to grow at a highest growth rate due to rise in government initiatives for the improvement of the healthcare facilities and increase in the number of blood banks.

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Key Benefits for Stakeholders

•The study provides an in-depth analysis of the global blood market and current trends and future estimations to elucidate the imminent investment pockets.
•The report provides a quantitative analysis of the industry from 2016 to 2023 to enable the stakeholders to capitalize on the prevailing market opportunities.
•Extensive analysis of the market based on surgeries and products elucidates various trends and prevailing opportunities across segments.
•Key market players operating are profiled to determine the competitive outlook of the market by studying the different products of the companies and their developments.
•The key players profiled in the report include Abbott Laboratories, Baxter International Inc., Becton, Dickinson & Co., CSL Behring, Immucor, Novartis, Novo Nordisk, Ortho Clinical Diagnostics, Roche Diagnostics, and Grifols International SA.
•List of the other players (not included in the report) Medimmune (AstraZeneca), Fresenius Kabi, Macopharma, Nipro Medical Corporation, Sarstedt AG & Co., and Thermo Fisher Scientific, Inc.

Blood Market Key Segments:

By Product
· Whole Blood Collection
· Source Plasma Collections
· Blood Therapeutics
· Blood Typing Products
· Blood Screening
· Blood Processing Equipment & Associated Products

By End User
· Blood & Blood Component Bank
· Diagnostic Laboratories
· Ambulatory Surgical Centers
· Hospitals
· Others (Academic Institutes & Research Laboratories)

By Geography
· North America
· Europe
· Asia-Pacific
· LAMEA

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