In-Depth Analysis of the Blood Market: Growth Opportunities, Key Trends, and Forecast 2025-2034

How Are the key drivers contributing to the expansion of the blood market?
The blood market is predicted to grow due to an increase in surgical procedures. This surge in surgeries can be attributed to advancements in medical technology, an older population, and a rise in chronic disease cases. Blood plays a crucial role in surgeries by delivering oxygen and nutrients, assisting in clotting to prevent bleeding, and boosting the immune response to fight off infections. For example, data from the Australian Institute of Health and Welfare, a government agency in Australia, shows that in December 2023, there were 735,500 patients admitted for surgery from public hospital elective surgery waiting lists. This was an 18% increase compared to the previous year, 2021-2022. Thus, the escalating number of surgeries is propelling the blood market forward.

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What growth opportunities are expected to drive the blood market's CAGR through 2034?
There has been a noticeable growth in the blood market size in the past few years. The market that was valued at $8.32 billion in 2024 is projected to escalate to $8.86 billion in 2025, marking a compound annual growth rate (CAGR) of 6.6%. The significant upturn during the historic period can be tied to the rising need for blood and plasma, an increment in the count of surgical procedures, the growth of the worldwide population, mounting occurrence of chronic diseases, and an increment in blood banks.

Significant expansion is anticipated in the blood market size over the upcoming years, with predictions indicating a growth to $11.28 billion by 2029, exhibiting a compound annual growth rate (CAGR) of 6.2%. Factors contributing to growth during this forecast period include favorable regulatory environments by government bodies, increasing numbers of the elderly population, heightened awareness around blood donations and an uptick in blood transfusions, as well as the surge in the number of ambulatory surgical centers (ASCS). Key trends expected to emerge during this period are improvements in blood transfusion and blood testing tools, computerized immunoassays, intelligent controls for blood bank inventories, advancements in technology, and precise temperature regulation and control.

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What are the emerging trends shaping the future of the blood market?
Leading businesses in the blood market are innovating and creating cutting-edge blood transfusion tools like plasma collection systems to enhance efficiency, boost donor safety and upgrade the overall quality of blood products. A plasma collection system is an equipment used for separating plasma from the remaining components of a donor's blood and handing the leftovers back to the donor in the process known as plasmapheresis. For example, Terumo Blood and Cell Technologies, a company from the US specializing in blood component and cellular technology, was given clearance by the Food and Drug Administration in March 2022 for a product called the Rika Plasma Donation System (Rika). This state-of-the-art plasma collection system aims to streamline the experience for plasma center staffers and donors with safety features designed to minimize operator mistakes, capable of accomplishing plasma collection in a maximum of 35 minutes. Rika maintains that no more than 200 milliliters of blood are away from the donor's body at any given moment and provides a sophisticated control system for the operators.

Which growth-oriented segments of the blood market are leading the industry's development?
The blood market covered in this report is segmented -

1) By Product: Whole Blood Collection And Processing, Source Plasma Collection, Blood Typing Products, Blood Screening Products
2) By Mode of Delivery: Infusion Solutions, Gels, Sprays, Biomedical Sealants
3) By End User: Blood And Blood Component Bank, Diagnostic Laboratories, Ambulatory Surgical Centers, Hospitals, Other End Users

Subsegments:
1) By Whole Blood Collection And Processing: Blood Collection Bags, Blood Processing Kits, Blood Separation Systems, Blood Donation Kits
2) By Source Plasma Collection: Plasma Collection Kits, Automated Plasma Collection Systems, Plasma Freezers And Storage Equipment
3) By Blood Typing Products: Blood Typing Reagents, Blood Typing Kits (Manual And Automated), Blood Grouping Solutions
4) By Blood Screening Products: Blood Screening Reagents, Blood Screening Systems (Automated And Manual), Infectious Disease Testing Kits, Hemoglobin Testing Kits

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Which regions are key players in the growth of the blood market?
North America was the largest region in the blood market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the blood market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

What companies are at the forefront of innovation in the blood market?
Major companies operating in the blood market are Cardinal Health Inc., Roche Holding AG, Thermo Fisher Scientific Inc., Abbott Laboratories, Medtronic Plc, Danaher Corp., Merck KGaA, Asahi Kasei Medical Co. Ltd., Henry Schein Inc., Medline Industries Inc., B. Braun Melsungen AG, Grifols SA, Terumo Corp., Nipro Corp., QuidelOrtho Corp., Bio Rad Laboratories Inc., LivaNova PLC, Haemonetics Corp., Macopharma, DIAGAST SAS, BAG Health Care GmbH, Kawasumi Laboratories America Inc

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What Is Covered In The Blood Global Market Report?

•Market Size Forecast: Examine the blood market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the blood market for a structured understanding.
•Key Players Overview: Analyze major players in the blood market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the blood market.
•Segment Contributions: Evaluate how different segments drive overall growth in the blood market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the blood market.
•Industry Challenges: Identify potential risks and obstacles affecting the blood market.
•Competitive Landscape: Review strategic developments in the blood market, including expansions, agreements, and new product launches.

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