Blood Preparation Market Share, Opportunities, Industry 2031

Report Description

Blood Preparation Market Outlook 2031

The global blood preparation market size was valued at USD 45.25 Billion in 2022 and is likely reach to USD 79.08 Billion by 2031, expanding at a CAGR of 6.4% during the forecast period, 2023–2031. The growth of the market is attributed to the growing demand for blood and its components in surgical procedures.

Blood is a fluid that circulates in the human body and contains platelets, plasma, red blood cells, and white blood cells as its main components. It provides nutrients, oxygen, and eliminates waste from the body. Until being transfused, blood is processed and sorted into major components in hospitals. People need blood transfusions for a variety of reasons including surgical operations, diseases infection, or disease treatment, which help to supply the requirement of blood.

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Previously, the whole blood was often collected and separated; however, thanks to automated collection, only the blood components needed for transfusion are now collected. Automated blood collection and preparation is becoming more common these days for various applications of blood components transfusion.

Blood Preparation Market Trends, Drivers, Restraints, and Opportunities

• Increasing incidence of road accidents and injuries leading to an increase in surgical procedures and growing awareness of blood donation are expected to fuel the market growth.
• The implementation of new technologies for blood transfusion as well as the growing use of plasma and platelet transfusion in the pharmaceutical industry are expected to contribute the market growth.
• Various governments’ policies around the world encouraging to increase blood donation rates by implementing reimbursement policies as well as monetary benefits for donors are expected to propel the global market expansion.
• Existing some degree of problems associated with unsafe handling of blood and blood products are key challenges that can hamper the market growth.
• Technological advancement that helps in the development of new techniques for blood preparation by maintaining a safe storage of bloods are creating major opportunities for the market players.

Scope of Blood Preparation Market Report

The report on the global blood preparation market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Blood Preparation Market Segment Insights

Whole blood segment to account for a key market share

Based on products, the global blood preparation market is segmented into whole blood, blood derivatives, and blood components. The whole blood segment is projected to account for a key market share during the forecast period owing to the growing demand for whole blood for major surgeries and transfusions as well as its certain benefits such as ease of availability, low cost, and maintenance.

Meanwhile, the blood derivatives segment is expected to expand at a fast CAGR during the forecasted period. Government programs to produce plasma-derived proteins including immunoglobulins, coagulation factor products, human fibrin foam, dried human plasma, and human thrombin are expected to fuel the segment growth.

In cases of life-threatening infections including Ebola, blood derivatives such as intravenous immunoglobulin and hyperimmune are used to improve and enhance the immunity. The rising prevalence of such diseases, the implementation of advanced technology to isolate the components, and the introduction of blood-derived medicines are key factors boosting the segment development.

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Anticoagulants segment to grow significantly

On the basis of antithrombotic and anticoagulants types, the market is categorized into platelet aggregation inhibitors, fibrinolytic, and anticoagulants. The anticoagulants segment dominated the market in 2020 and is expected to grow significantly during the forecast period.

The growth of the segment is attributed to the development of new products with higher efficacy as well as the potential commercialization of new products currently in the process. Biopharmaceutical companies are updating their products by bringing to market new and more effective anticoagulant drugs.

Moreover, the re-launch of some key drug products, such as Urokinase in North America, is expected to fuel the segment development. Heparins, vitamin K antagonists, direct thrombin inhibitors, and direct factor Xa inhibitors are all anticoagulant medications widely adopted for numerous applications.

Thrombocytosis segment to holds a key market share

Based on antithrombotic and anticoagulants applications, the global blood preparation market is segmented into thrombocytosis, pulmonary embolism, renal impairment, angina blood vessel complications, and others.

The thrombocytosis segment is expected to hold a key share of the market during the forecast period owing to wide use of thrombocytosis and antithrombotic products. A higher platelet count allows blood to coagulate in the circulatory system, resulting in life-threatening heart conditions.

There are two types of thrombocytosis: primary and secondary. Primary thrombocytosis is an uncommon disease that affects about 24 people per million worldwide. It is more common in middle-aged people and women under the age of 40. Hyposplenism, splenectomy, asplenia, hemorrhage, osteosarcoma, and rheumatoid arthritis are common types of disorders that cause secondary thrombocytosis.

The angina blood vessel complications segment is expected to grow significantly during the forecast period due to rising R&D for the production of anticoagulants for cardiac problems and growing prevalence of cardiovascular disorders (CVDs).

Although nitroglycerine is the main treatment for angina, anticoagulants is often used due to the low risk and less complications as compared to the former.

Furthermore, the segment growth is due to factors such as an increase in lifestyle-related diseases, the prevalence of oral anticoagulants, increasing patient awareness, increased healthcare spending, and favorable government policies.

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Blood Preparation Market Regional Outlook

North America dominated the market with a large revenue share

In terms of regions, the market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America held a dominant share of the market with a large revenue share in 2020 and is expected to constitute a major share of the market during the forecast period due to the high incidence of CVDs, leukemia, and hematological and neurological diseases.

Higher levels of patient awareness and healthcare spending as well as advanced healthcare facilities especially in the US are expected to grow the regional market at a rapid pace. On the other hand, the market in Asia Pacific is expected to grow at a significant rate during the forecast period owing to the presence of untapped opportunities, economic development, and rising initiatives by private and public organizations.

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