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Blood And Blood Components Industry Report 2025-2034: Market Dynamics, Trends, And Forecasts
Blood And Blood Components
What Is the Expected Blood And Blood Components Market Size During the Forecast Period?
In the past few years, the market size for blood and blood components has shown consistent growth. It's projected to expand from $41.36 billion in 2024 to $43.2 billion in 2025, demonstrating a compound annual growth rate (CAGR) of 4.5%. Factors contributing to this growth during the historical period include a rise in trauma and road accident incidents, an aging population, improved income and standard of living, increased healthcare spending, and heightened awareness about blood donation.
Predictions for the blood and blood components market suggest a significant surge in size over the coming years. This market will expand to $53.56 billion in 2029, boasting a compound annual growth rate (CAGR) of 5.5%. This predicted growth within the projection period is due to several factors including a rise in chronic diseases, governmental policies, and a heightened demand for whole blood. Key trends within the forecast period revolve around greater collaboration with other industry participants, the introduction of novel products, emphasis on research and development (R&D), utilization of IoT-based products to avert potential contamination of blood and blood components, and a streamlined focus on transfusion management.
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What Are the High-Growth Segments in the Blood And Blood Components Market?
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
Subsegments:
1) By Whole Blood: Donor Whole Blood, Autologous Whole Blood
2) By Blood Components: Red Blood Cells (RBCs), Platelets, Plasma, White Blood Cells (WBCs)
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What Key Drivers Are Expected to Influence Future Blood And Blood Components Market Growth?
The surge in the blood and blood components market is linked to a rise in trauma cases and road accident occurrences. In situations involving traumas like hemorrhage, the body's blood volume can drop significantly and cannot be replenished rapidly. Furthermore, road accidents often result in severe blood loss that needs immediate replenishment. These circumstances necessitate the transfusion of blood and its components into the patient's system. For example, in 2023, the Transport Accident Commission, a government agency based in Australia, reported that 295 people died on Victorian roads, indicating a 22.4% rise (54 more fatalities) compared to 2022. Additionally, fatal crashes increased by 22 (9%), up from 239 in the preceding year. The escalating prevalence of diseases coupled with a rise in road accidents and traumas is fuelling the demand for blood, thereby propelling the market.
Which Companies Hold the Largest Share Across Different Blood And Blood Components Market Segments?
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, 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 Company
What Trends Are Driving Growth in The Blood And Blood Components Market?
The primary trend noticeable in the blood and blood components market is the increasing frequency of collaborations among the market participants. Businesses are resorting to partnerships and collaborations to extend their influence, raise their customer base, and generate market awareness. For instance, the American Red Cross joined forces with HealthStream to launch a novel program for healthcare institutions. Likewise, the Blood Center of Wisconsin teamed up with SysLogic Inc., to research the potential use of RFID technology in making the collection and transfusion of blood products safer for the patient.
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What Are the Emerging Geographies for The Blood And Blood Components Market Growth?
North America was the largest region in the blood and blood components market in 2024. Western Europe was the second largest region in the global blood and blood components market analysis. The regions covered in the blood and blood components market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Blood And Blood Components Market?
2. What is the CAGR expected in the Blood And Blood Components Market?
3. What Are the Key Innovations Transforming the Blood And Blood Components Industry?
4. Which Region Is Leading the Blood And Blood Components Market?
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