Press release
Global Blood and Blood Components Market: Onward Growth to Reach $53.56 Billion by 2029 Driving By Chronic Diseases and Government Initatives
Blood And Blood Components Market Share
What Is The Projected Market Size Of The Global Blood And Blood Components Market And Its Growth Rate?
The global blood and blood components market projects consistent growth, underpinned by greater prevalence of diseases and increasing awareness of blood donations. Key numbers include:
• 2024 Market Size: $41.36 billion
• 2025 Market Size: $43.2 billion (4.5% CAGR)
• 2029 Market Size: $53.56 billion (5.5% CAGR)
The growth factors range from increased standard of living, higher healthcare expenditure, to an uptick in trauma cases and road accidents.
What Is Driving The Growth In The Blood And Blood Components Market?
The blood and blood components market is witnessing growth on account of the higher incidence of road accidents and trauma. In these emergencies, the body often cannot replace the lost blood volume quickly enough, necessitating immediate transfusion of blood and blood components. An instance in point is the 22.4% increase in fatalities on Victorian roads in 2023 compared to the previous year, thereby heightening the demand for blood, driving the market.
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Who Are the Key Players Driving Blood And Blood Components Market Growth?
Major companies operating in the blood and blood components market include:
• American Red Cross
• The Japanese Red Cross Society
• Canadian Blood Services
• Australian Red Cross
• 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
What Are The Key Trends In The Blood And Blood Components Market?
Major trends include:
• Cross-industry collaborations
• Launch of innovative products
• Increased R&D activities
• Adoption of IoT-based products to ensure blood safety
• Focus on blood transfusion management
What Are The Segments Of The Global Blood And Blood Components Market?
The blood and blood components market is categorized based on:
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
Which Region Leads The Blood And Blood Components Market?
North America led the blood and blood components market in 2024 followed by Western Europe. Other notable regions include Asia-Pacific, Eastern Europe, South America, Middle East and Africa.
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What Is Covered In The Blood And Blood Components Market Global Market Report?
- Market Size Analysis: Analyze the Blood And Blood Components Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Blood And Blood Components Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Blood And Blood Components Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Blood And Blood Components Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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