Blood Preparation Market to Develop Rapidly by 2024

Global Blood Preparation Market: Overview

Blood components refer to products derived from platelet-rich plasma or whole blood. Blood components such as platelets, plasma, red blood cells, and white blood cells are derived from blood by the process of phlebotomy or hemapheresis through the technique of differential centrifugation. These blood components are separated from whole blood in hospital laboratories and blood centers, and are administered to patients suffering from various diseases through transfusion. The whole blood is often collected and separated into major components before transfusion. However, automated collections are becoming increasingly popular nowadays and only blood components that are needed for transfusion are collected.

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On the basis of product type, the global blood preparation market has been segmented into whole blood and blood components. While whole blood comprises platelets, plasma, red cells, and granulocytes, blood components constitute whole blood components, leukocyte reduced RBC, packed red cells, frozen plasma, and platelet concentrate. According to the antithrombotic and anticoagulant type, the blood preparation market has been divided into anticoagulants, fibrinolytics, and platelet aggregation inhibitors. Major application segments in the blood preparation market include renal impairment, thrombocytosis, and pulmonary embolism.

Global Blood Preparation Market: Drivers and Restraints

The growing demand for blood transfusion across emergency departments in hospitals has boosted the growth of the global blood preparation market. The rise in blood disorders such as thrombocytosis and the increasing requirement for blood during accidents and surgical procedures have supported the growth of the market.

According to the Centers for Disease Control and Prevention, conditions such as deep vein thrombosis (DVT) and pulmonary embolism (PE) lead to over 60,000 deaths in the U.S. every year. Various initiatives taken by the National Institutes of Health and other regulatory bodies to spread awareness about the complications associated with these conditions have also propelled the market’s growth.

However, during blood transfusion, the chances of transmission of diseases such as viral hemorrhagic fever, HIV, and Hepatitis B are high. This is the single major restraining factor impacting the growth of the global blood preparation market. The overall market has a significant opportunity to grow with the development of high speed technology to separate blood components without losing their activity. The introduction of new oral anticoagulants and the re-launch of drugs such as Urokinase, the growing demand for source plasma, and the need for specific blood components such as packed red blood cells will create new growth opportunities for the market.

Global Blood Preparation Market: Region-wise Outlook

The global blood preparation market has been segmented into four key regions: Europe, Asia Pacific, North America, and Rest of the World. North America has been contributing significantly to the growth of the market owing to the presence of a robust healthcare infrastructure. In the U.S., the collection, preparation, storage, and transport of blood is regulated by the FDA. Other federal agencies are working toward the implementation of health insurance portability standards to achieve adequate reimbursement for blood components.

However, during the forecast period, the Asia Pacific blood preparation market is anticipated to expand rapidly due to various initiatives taken by governments, especially in countries such as India and China. The positive growth of the healthcare sector across Japan and Australia will also support the growth of the regional market.

Global Blood Preparation Market: Competitive Landscape

Some of the key players in the global blood preparation market are GlaxoSmithKline PLC, Pfizer Inc., Leo Pharma Inc., Celgene Corp, Sanofi Aventis, Baxter Healthcare Corp., Shandong East Chemical Industry Co., Bristol-Myers Squibb Co., and AstraZeneca Co. The blood preparation market worldwide is being driven by technology. As a result, market players are investing heavily in research and development to introduce novel and cost-effective drugs.

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