Blood And Blood Components Global Market Report 2024 - By Trends, Size, Share, Growth, Outlook By 2033

"The Business Research Company has updated its global market reports, featuring the latest data for 2024 and projections up to 2033

The Business Research Company presents an extensive market research report on the Blood And Blood Components Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.

Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.

Market Sizing:
The blood and blood components market size has grown strongly in recent years. It will grow from $39.28 billion in 2023 to $41.29 billion in 2024 at a compound annual growth rate (CAGR) of 5.1%. The growth in the historic period can be attributed to increasing incidence of trauma and road accidents, increased aging population, increasing earnings and standard of living, increased healthcare expenditure and rising awareness about blood donation.

The blood and blood components market size is expected to see strong growth in the next few years. It will grow to $50.67 billion in 2028 at a compound annual growth rate (CAGR) of 5.2%. The growth in the forecast period can be attributed to an increase in chronic diseases, government initiatives and increasing demand for whole blood. Major trends in the forecast period include focusing on collaboration with other players, launching innovative products, focusing on research and development (r&d) activities, using iot-based products to avoid the contamination of blood and blood components and focusing on management of blood transfusion.

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Key Market Players:
Major companies operating in the blood and blood components market report are 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

Market Drivers:
The blood and blood components market is being driven by increasing incidence of trauma and road accidents. Sometimes, because of traumas such as hemorrhage, the volume of blood is reduced to a very low level and cannot be replaced fast enough by the body. Also, road accidents cause excessive blood loss from the body that has to be restored immediately. All these conditions demand transfusion of blood and blood components into the patient's body. The growing prevalence of diseases and increasing numbers of road accidents and traumas are increasing the demand for blood and thus driving the market. According to the Arizona Department of Health Services, in 2021, trauma related deaths increased by 19% as compared to 2020. Falls accounted for most deaths and injuries.

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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

The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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