Blood Biological Products Market Trends, Business Overview, Industry Growth and Forecast to 2028

The global blood biological products market is anticipated to grow at a significant CAGR during the forecast period (2022-2028). Blood biological product is used while having different surgeries, transplantation, dialysis, treatment of different types of cancer, and other cardiovascular surgeries. The global blood biological products market is growing due to the increasing number of surgical procedures performed globally. According to the World Health Organization, an estimation of 235 million major surgical procedures were performed in 2019 globally. The rise in kidney disease and dialysis patients globally is also boosting the growth of the market. According to National Kidney Foundation Inc., an estimation of around 10% of patients globally are affected by chronic kidney disease. Over 2 million people globally are receiving treatment with dialysis or with kidney transplantation globally. The increasing prevalence of blood cancer diseases and other hematological diseases like rare genetic disorders, anemia, chemotherapy, or transfusions is also boosting the growth of the global blood biological products market. According to the National Cancer Statistics in 2020, 1.8 million new cases of cancer were registered in the US alone.

The market players are also contributing significantly to the growth of the market by the adoption of various strategies including mergers and acquisitions, geographical expansion, partnerships, collaborations, and new product launches, to stay competitive in the market. For instance-

•In February 2022, USFDA approved Bio-Rad Medical Diagnostics GmbH's IH-500 automated blood grouping and antibody test system for the in-vitro serological analysis for blood grouping and antibody detection of human blood specimens.
•In February 2022, Terumo BCT, Inc. received USFDA approval for the Platelet-Rich Plasma (PRP) Procedure Pack for the safe and rapid preparation of autologous platelet-rich plasma (PRP) from a small sample of peripheral blood at the patient's point-of-care.
•In January 2022, Becton, Dickinson & Co. received USFDA approval for BD Stem Cell Enumeration Kit for enumeration of viable dual-positive CD45+/CD34+ hematopoietic stem cell populations to determine absolute counts (cells/μL) of viable CD34+ and the percentages of viable CD45+/CD34+ hematopoietic stem cells.
•In January 2021, the Department of Health Abu Dhabi announced its collaboration with SEHA for the launch of a Frozen Red Blood Cells project, which will ensure the existence of a strategic blood supply in blood banks.
•In November 2020, SomaLogic Operating Co., Inc. announced their 5 years agreement with USFDA to evaluate the utility of large-scale analysis of proteins for the identification of biomarkers that may be useful in demonstrating the biosimilarity of a proposed biosimilar to a reference biologic.
•In August 2020, Prolytix partnered with Greiner Bio-One International GmbH to provide complete development and manufacturing of customized blood collection tubes in support of new IVDs, clinical diagnostics, and large volume production.

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Market Coverage
•The market number available for - 2022-2028
•Base year- 2021
•Forecast period- 2022-2028
•Segment Covered-
•By Types
•By Application
•Regions Covered-
•North America
•Europe
•Asia-Pacific
•Rest of the World

Competitive Landscape- Abbott, The American National Red Cross, America's Blood Center, Bharat Serums and Vaccines Ltd., Bio-Rad Laboratories, Inc., and Biotest AG, among others.

A full report Blood Biological Products Market of is available at:  https://orionmarketreports.com/blood-biological-products-market/102260/

Global Blood Biological Products Market Report by Segment
By Types
•Red Cells
•Platelets
•Plasma
•Cryoprecipitated AHF
•Granulocytes
By Application
•Cancer
•Hematological Diseases
•Trauma Resuscitation
•Cardiovascular Surgery
•Transplantation

Key questions addressed by the report
•What is the market growth rate?
•Which segment and region dominate the market in the base year?
•Which segment and region will project the fastest growth in the market?
•How has COVID-19 impacted the market?
•Deviation from the pre-COVID-19 forecast
•Most affected region and segment
•Who is the leader in the market?
•How players are addressing challenges to sustain growth?
•Where is the investment opportunity?

 

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This release was published on openPR.