Global Blood Market Growth Accelerates: Strategic Forecast Predicts $11.2 Billion by 2029

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What Will the Blood Industry Market Size Be by 2025?
The overall valuation of the blood market has experienced robust expansion lately, projected to climb from $8.32 billion in the year 2024 to $8.84 billion by 2025, reflecting a consistent annual growth rate (CAGR) of 6.3% across that time frame; this historical upswing is fundamentally driven by amplified utilization of blood and plasma, a greater frequency of surgical procedures worldwide, the expansion of the world's populace, a higher prevalence of long-term health conditions, and a corresponding rise in the availability of facilities dedicated to blood storage.

What's the Long-Term Growth Forecast for the Blood Market Size Through 2029?
Anticipation points towards considerable expansion within the blood market over the forthcoming years, projecting a reach of $11.2 billion by 2029, which corresponds to a compound annual growth rate (CAGR) of 6.1% across the projection timeframe, fueled by supportive governmental policies, an escalating elderly demographic, heightened public consciousness regarding blood donation, increased frequency of blood transfusions, and a growing presence of ambulatory surgical centers (ASCs); key developments shaping this period encompass progress in equipment for blood screening and transfusion, the adoption of computerized immunoassays, sophisticated inventory management solutions for blood banks, continuous technological breakthroughs, and enhanced precision in temperature oversight and regulation.

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What Are the Key Growth Drivers Fueling the Blood Market Expansion?
Anticipated expansion in surgical procedures is set to fuel the advancement of the blood market, this upward trend being attributable to technological progress in medicine, the evolving age structure of the population, and a growing incidence of long-term health conditions. Blood plays an indispensable role in operations, offering necessary oxygen and nourishment, assisting the coagulation process to manage hemorrhaging, and boosting immunological defenses against pathogens; to illustrate this, data from the Australian Institute of Health and Welfare, an entity of the Australian government, revealed that for the period 2022-2023, 735,500 individuals were admitted for surgical intervention sourced from public hospital elective waiting lists, representing an 18 percent jump over the 2021-2022 figures, thus definitively indicating that the escalating volume of operations is a key impetus for the future trajectory of the blood market.

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What Are the Key Trends Driving Blood Market Growth?
Leading entities within the blood sector are focusing on creating sophisticated blood transfusion apparatus, notably plasma collection devices, with the aims of boosting procedural speed, fortifying the security of those donating, and elevating the standard of collected blood supplies. A plasma collection mechanism functions by separating plasma from a donor's whole blood, then returning the remaining cellular elements to the donor via the plasmapheresis process. As an illustration of this advancement, in March of 2022, Terumo Blood and Cell Technologies, an American enterprise specializing in blood components and cellular technologies, secured authorization from the Food and Drug Administration for their Rika Plasma Donation System (Rika). This system represents a cutting-edge approach to plasma harvesting, engineered to optimize the workflow for both staff at plasma centers and the donors themselves, incorporating enhanced safety protocols designed to minimize operational mistakes while achieving a plasma collection cycle time of no more than thirty-five minutes; furthermore, Rika is engineered to guarantee that at no point do over two hundred milliliters of the donor's blood reside outside their circulatory system, supported by a sophisticated operator control interface.

How Is the Blood Market Segmented?
The bloodmarket 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 Companies Are Leading the Charge in Blood Market Innovation?
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 Regions Are Leading the Global Blood Market in Revenue?
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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