PUBLISHER: The Business Research Company | PRODUCT CODE: 1414059
PUBLISHER: The Business Research Company | PRODUCT CODE: 1414059
“Blood Preparation Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on blood preparation market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for blood preparation? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The blood preparation market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Blood preparation encompasses the comprehensive process of gathering, processing, and preserving blood and its components for utilization in transfusions or various medical treatments. This intricate procedure involves several stages such as donor screening, blood collection, testing, storage, and eventual transfusion.
The primary categories of blood preparation products include whole blood, blood components, and blood derivatives. Whole blood signifies blood that hasn't been separated into its individual constituents such as red blood cells, white blood cells, and plasma. It contains various antithrombotic and anticoagulant elements, including platelet aggregation inhibitors, fibrinolytics, and anticoagulants, which find applications in transfusions, diagnostics, and research purposes. Key end-users of these blood preparation products encompass hospitals, clinics, blood banks, and other medical facilities involved in managing and administering transfusions and medical treatments requiring blood and its components.
The blood preparation market research report is one of a series of new reports from The Business Research Company that provides blood preparation market statistics, including blood preparation industry global market size, regional shares, competitors with a blood preparation market share, detailed blood preparation market segments, market trends and opportunities, and any further data you may need to thrive in the blood preparation industry. This blood preparation market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The blood preparation market size has grown strongly in recent years. It will grow from $44.46 billion in 2023 to $47.72 billion in 2024 at a compound annual growth rate (CAGR) of 7.3%. The expansion observed during the historic period can be attributed to several factors, including the increase in blood transfusion procedures, a rise in the prevalence of blood disorders, heightened awareness regarding blood safety measures, global initiatives promoting blood donation, and the establishment of government regulations and standards concerning blood-related practices. These elements collectively contributed to the growth and advancement within the field of blood preparation and transfusion services.
The blood preparation market size is expected to see strong growth in the next few years. It will grow to $61.04 billion in 2028 at a compound annual growth rate (CAGR) of 6.3%. The projected growth in the forecasted period is expected to be driven by several significant factors, notably the increasing demand for blood components, the adoption of personalized medicine approaches, the emergence of new therapies and applications, and the ongoing development of global healthcare infrastructure.
The increasing global blood donations are set to drive the growth of the blood preparation market. Blood donation involves the altruistic act of contributing blood for medical use, sustaining life through transfusions crucial in surgeries, cancer treatment, chronic illnesses, and trauma care. This process ensures the availability of blood whenever and wherever needed during preparation. For example, National Blood Service Ghana reported a rise in blood collections, from 156,453 units in 2020 to 173,938 units in 2021. Additionally, World Bank data indicated an 86% surge in blood collections from June 2020 to June 2021, reaching 186,239 units, catering to over 214,187 individuals. Therefore, the increase in blood donations propels the blood preparation market's growth.
The rise in blood-related disorders is anticipated to boost the blood preparation market. These disorders encompass diverse conditions such as blood cancers that impact blood components, functions, or clotting abilities, often necessitating transfusions or specialized treatments. Instances of deficiencies in clotting factors, red blood cells, or platelets drive the need for blood preparation. For instance, Blood Cancer UK revealed that around 41,000 individuals receive blood cancer diagnoses annually in the UK, with approximately 250,000 currently living with this condition. Statistics indicate a one in 16 men and one in 22 women likelihood of developing blood cancer during their lifetime. Hence, the increasing prevalence of blood-related disorders fuels the blood preparation market's growth.
Technological advancements emerge as a pivotal trend shaping the blood preparation market. Leading companies prioritize innovative technological solutions to fortify their market positions. For instance, EryPharm's announcement in April 2021 about large-scale manufacturing of red blood cells from hematopoietic stem cells marks a significant scientific leap in mass-producing cultured red blood cells. This breakthrough technology aims to provide a transfusion alternative benefiting multi-transfused patients with hereditary or acquired red blood cell diseases. This innovation offers a promising source of cultured red blood cells complementing regular blood donations.
Major players in the blood preparation market focus on product innovation, exemplified by advanced blood sampling kits, to improve accuracy and efficiency in blood collection processes. These kits streamline and enhance blood sample collection for diagnostic purposes. Capitainer, in December 2022, launched an upgraded self-sampling blood card collecting a larger volume (2 x 50 microliters), facilitating the measurement of additional biomarkers and enabling a broader range of analyses due to the increased blood quantity for accurate testing of specific substances. This innovation significantly enhances accuracy and ease in blood collection processes.
In April 2021, Trajan Scientific and Medical (Trajan), an Australian company specializing in analytical and life science instruments, acquired MyHealthTest for an undisclosed sum. This acquisition bolsters Trajan's capability to deliver analytical measuring services, further enhancing its offerings to society. MyHealthTest, based in Australia, is a company that provides blood testing services.
Major companies operating in the blood preparation market report are GlaxoSmithKline plc, Pfizer Inc., Leo Pharma A/S, Boehringer Ingelheim International GmbH, Sanofi S.A., AstraZeneca plc, Daiichi Sankyo Company Limited, Baxter International Inc., Johnson And Johnson Services Inc., Xiamen Hisunny Chemical Co. Ltd., Aralez Pharmaceuticals Canada Inc., Ionis Pharmaceuticals Inc., Bayer AG, Portola Pharmaceuticals Inc., Celgene Corporation, The Bristol-Myers Squibb Company, CSL Behring, The Takeda Pharmaceutical Company Limited, Grifols S.A., Octapharma AG, Kedrion S.p.A, Thermo Fisher Scientific Inc., SHANDONG EAST INTERNATIONAL CHEMICAL Co. Ltd., F. Hoffmann-La Roche Ltd., Abbott Laboratories Inc., Bio-Rad Laboratories Inc., Terumo BCT Inc., Immucor Inc., Ortho Clinical Diagnostics, Beckman Coulter Inc.
North America was the largest region in the blood preparation market in 2023. 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
The countries covered in the blood preparation market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
The blood preparation market consists of revenues earned by entities by providing services such as blood processing, blood storing, and distributing blood and blood components for transfusion services. The market value includes the value of related goods sold by the service provider or included within the service offering. The blood preparation market also includes sales of red cells, platelets, cryoprecipitated AHF (CRYO), and granulocytes, which are used in providing blood preparation services. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.