Blood Market Trends That Will Shape the Next Decade: Insights from Advancements In Plasma Collection Systems Enhance Blood Donation Efficiency and Safety

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How Large Will the Blood Market Size By 2025?
The blood industry has seen substantial growth lately. There's a projected increase in its worth from $8.32 billion in 2024 to $8.86 billion in 2025, with a compound annual growth rate (CAGR) of 6.6%. Factors such as the augmented demand for blood and plasma, an upsurge in surgical procedures, expanding global populace, a hike in the occurrence of persistent ailments, and an increase in the count of blood banks have all led to the notable growth seen in the historic period.

How Big Is the Blood Market Size Expected to Grow by 2029?
Anticipated robust growth is expected to surge the blood market size significantly over the next few years, projecting an estimated growth to $11.28 billion by 2029 with a compound annual growth rate (CAGR) of 6.2%. This expected growth during the forecasted period can be accredited to beneficial governmental regulations, an increase in the elderly population, greater awareness around blood donation, and a surge in blood transfusions, along with the rising number of ambulatory surgical centers (ASCS). Major upgrades expected during the same timeline include development in blood transfusion and blood screening devices, automated immunoassays, intelligent blood bank inventory management systems, technological advances, and accurate temperature monitoring and regulation.

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Which Key Market Drivers Powering Blood Market Expansion and Growth?
The growth of the blood market is anticipated to be fueled by the rise in the number of surgeries. The increased surgical procedures are a result of medical technology advancements, the aging population, and the prevalence of chronic diseases. The critical role of blood in surgery is to deliver oxygen and nutrients, assist in clotting to manage bleeding, and intensify the immune response to fight off infections. To illustrate, data from the Australian Institute of Health and Welfare in December 2023 revealed that 735,500 patients were listed for surgery from public hospital elective surgery waiting lists in 2022-2023. This marked an 18% increase from the 2021-2022 period. Consequently, the escalating number of surgeries is propelling the blood market.

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Which Fast-Growing Trends Are Poised to Disrupt the Blood Market?
Prominent companies in the blood market are pioneering sophisticated blood transfusion tools, such as plasma collection systems, to boost effectiveness, improve donor protection, and elevate the overall standard of blood derivatives. Plasma collection systems are instruments that isolate plasma from donor's blood, and then re-infuse the remaining components back into the donor via plasmapheresis. For example, in March 2022, Terumo Blood and Cell Technologies, an American firm specializing in blood components and cell technology, acquired FDA approval for their Rika Plasma Donation System (Rika). This state-of-the-art plasma collection system is designed to improve the workflow for plasma center staff and donors, incorporating safety elements to minimize operator mistakes, and is capable of completing the plasma collection process within 35 minutes. Rika ensures that at any given moment, only a maximum of 200 milliliters of blood is external from the donor's body, and provides an innovative control system for operators.

What Are the Emerging Segments in the Blood Market?
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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Who Are the Global Leaders 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

Which are the Top Profitable Regional Markets for the Blood Industry?
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.

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