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Blood And Blood Components Market Overview, Share, Trend, Segmentation And Forecast To 2033
Blood And Blood Components Market
The Business Research Company offers in-depth market insights through Blood And Blood Components Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
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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Market Segmentation:
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
Major Driver - Rising Disease Prevalence And Accident Rates Drive Demand
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.
Competitive Landscape:
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
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Top Trend - Leveraging Collaborations For Market Growth
The most prominent trend that has been witnessed in the blood and blood components market is the growing number of collaborations between the players involved in the market. Companies are adopting partnerships and collaborations in order to expand their reach, increase customer base and generate awareness in the market. For example, the American Red Cross collaborated with HealthStream with an aim of introducing new program for healthcare organizations. Similarly, the BloodCenter of Wisconsin collaborated with SysLogic Inc., to study how the RFID technology can be used to enhance safety of the patient while collecting and transfusing blood products.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Blood And Blood Components Market Characteristics
3. Blood And Blood Components Market Trends And Strategies
4. Blood And Blood Components Market - Macro Economic Scenario
5. Blood And Blood Components Market Size And Growth
…..
27. Blood And Blood Components Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialize in various industries including manufacturing, healthcare, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries.
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