Blood Preparation Market on Track for Strong Growth, Estimated to Grow at 6.8% CAGR Through 2029

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What Is the Expected CAGR for the Blood Preparation Market Through 2025?
The market size for blood preparation has seen significant expansion in the past few years. The value is projected to increase from $48.03 billion in 2024 to $51.28 billion in 2025, with a compound annual growth rate (CAGR) of 6.7%. The historical growth is linked to factors such as an increase in blood transfusion operations, a higher prevalence of blood-related disorders, improved awareness regarding blood safety, worldwide blood donation initiatives, and government legislation and standards.

What's the Projected Size of the Global Blood Preparation Market by 2029?
In the coming years, the blood preparation market is predicted to experience significant growth, eventually reaching a market size of "$66.59 billion by 2029 with a compound annual growth rate (CAGR) of 6.8%. This anticipated growth could be due to the increasing need for blood components, the rise of personalized medicine, innovative therapies and other applications, as well as the expansion of global healthcare infrastructure. Key trends expected during this period are the streamlining and automation of blood processing systems, increased demand for pathogen-free blood components, bespoke adjustments in blood components, emphasis on platelet-rich plasma (PRP) and platelet-rich fibrin (PRF), and strict regulatory and quality standards.

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Top Growth Drivers in the Blood Preparation Industry: What's Accelerating the Market?
The surge in global blood donations is poised to catapult the progress of the blood preparation market. Blood donation, which is the act of giving blood to benefit the health or even lives of others, facilitates blood transfusions - a critical treatment that can sustain or rescue lives. Such transfusions are necessary in a variety of circumstances, including surgeries, cancer therapies, chronic diseases and severe injuries. This process enables blood to be prepared for transfusion, guaranteeing its availability whenever and wherever required. For example, the Red Cross Blood, a biotech research firm based in the U.S, estimates that approximately 6.8 million people will donate blood in 2023, accumulating around 13.6 million units of whole blood and red blood cells yearly. Consequently, this uptick in blood donations is bolstering the growth of the blood preparation market.

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What Trends Will Shape the Blood Preparation Market Through 2029 and Beyond?
The surge in technological innovations is a burgeoning trend in the blood preparation market. Most enterprises operating in this sphere are aiming to devise new technological strategies to maintain their market stance. In June 2024, Omnys, spearheaded by Innobiochips - a biotech firm from France, pioneered an ultra-modern blood grouping and testing method. This system, aimed at enhancing the speed and precision of blood transfusion processes, was brought to life. By utilizing flagship multiplex technologies, it provides high-definition testing of various blood components like ABO/D typing, phenotyping, extended phenotyping, and antibody screening. The Omnys system encompasses testing apparatus, reagents, and expendable resources, which simplifies procedures, enabling medical facilities and labs to carry out accurate blood examinations using minimal sample quantums.

What Are the Main Segments in the Blood Preparation Market?
The blood preparation market covered in this report is segmented -

1) By Product: Whole Blood, Blood Components, Blood Derivatives
2) By Antithrombotic And Anticoagulants Type: Platelet Aggregation Inhibitors, Fibrinolytics, Anticoagulants
3) By Application: Transfusion, Diagnostics, Research
4) By End User: Hospitals, Clinics, Blood Banks, Other End-Users

Subsegments:
1) By Whole Blood: Fresh Whole Blood, Stored Whole Blood
2) By Blood Components: Red Blood Cells (RBC), Platelets, Plasma, White Blood Cells (WBC)
3) By Blood Derivatives: Immunoglobulins, Coagulation Factors, Albumin, Fibrinogen

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Which Top Companies are Driving Growth in the Blood Preparation Market?
Major companies operating in the blood preparation market include AstraZeneca PLC, Sanofi, LEO Pharma A/S, Bristol-Myers Squibb Company, Baxter International Inc, Pfizer Inc, Portola Pharmaceuticals Inc, GlaxoSmithKline PLC, Bayer AG, Boehringer Ingelheim, Celgene Corp, Shandong East Chemical Industry Co., Xiamen Hisunny Chemical Co. LTD, Merck & Co., Amgen Inc., Takeda Pharmaceutical Company Limited, Novartis AG, Johnson & Johnson, Gilead Sciences Inc., Regeneron Pharmaceuticals Inc., AbbVie Inc., Roche Holding AG, CSL Behring, BioMarin Pharmaceutical Inc., Genentech Inc., Sandoz International GmbH, Medtronic plc, Fresenius Kabi AG, Grifols S.A., HemaCare Corporation, Terumo Corporation

Which Regions Will Dominate the Blood Preparation Market Through 2029?
North America was the largest region in the blood preparation market in 2024. Asia-Pacific is expected to be the fastest-growing region in the global blood preparation market during the forecast period. The regions covered in the blood preparation market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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