Global Blood Preparation Market Size To Exceed USD 82.75 Billion by 2033 | CAGR of 6.01%
Category: HealthcareGlobal Blood Preparation Market Size to Exceed USD 82.75 Billion by 2033
According to a research report published by Spherical Insights & Consulting, the Global Blood Preparation Market Size is expected to grow from USD 46.15 Billion in 2023 to USD 82.75 Billion by 2033, at a Compound Annual Growth Rate (CAGR) of 6.01% during the projected period.
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Browse key industry insights spread across 200 pages with 110 Market data tables and figures & charts from the report on the "Global Blood Preparation Market Size, Share, and COVID-19 Impact Analysis, By Product (Whole Blood, Blood Components, Blood Derivatives), By Type (Antithrombotic and Anticoagulant), By Application (Blood and Blood Component Bank, Diagnostic Laboratories, Ambulatory Surgical Centers, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023–2033." Get Detailed Report Description Here:https://www.sphericalinsights.com/reports/blood-preparation-market
Blood is the vital liquid organ of the body responsible for carrying oxygen and nutrients to the cells and taking away their waste products. Blood product is obtained from human blood donations, blood is collected and stored in an anticoagulant. This is the ‘whole blood’ product which is further processed into components, such as red cell concentrates, platelet concentrates, plasma, and cryoprecipitate. These blood components possess different relative densities, sediment rates, and sizes and thus are separated by centrifugation techniques and stored at their respective required storage temperature. Blood preparations are medically active therapeutic products that have a significant role in the healthcare sector. These blood preparations are used therapeutically in case of anemia or any emergency blood loss. Blood products such as RBCs, fresh frozen plasma (FFP), platelets, and cryoprecipitate are primarily used in transfusion therapy to improve tissue oxygenation in anemia and acute blood loss during trauma or surgery. While FFP, platelets, and cryoprecipitate are used for the prevention and treatment of bleeding. The increasing need for blood transfusion due to rising number of blood disorders and surgical procedures in hospitals enhances the market demand for blood preparations. Additionally, the advancement in technology for blood component separation is expected to drive the market. On the contrary, risk factors associated with blood transfusion and allergic reactions negatively affect the blood preparation market. In addition, higher production and procurement costs of advanced forms of blood collection devices are likely to impede the market.
The whole blood segment dominates the market with the largest revenue share through the forecast period.
Based on product, the global blood preparation market is segmented into whole blood, blood components, and blood derivatives. Among these, the whole blood segment is dominating the market with the largest revenue share through the forecast period. The whole blood segment is more accessible, affordable, and easy to maintain. It is the most common type of blood donation that can be transfused in its original form and can be provided in various conditions when separated into specific blood components.
The anticoagulant segment is witnessing significant CAGR growth through the forecast period.
Based on the type, the global blood preparation market is segmented into antithrombotic and anticoagulant. Among these, the anticoagulant segment is witnessing significant growth through the forecast period. The anticoagulant segment held a share of about 66.20% of the blood preparation as estimated in 2022. The rising prevalence of cardiac conditions increasing the market demand for blood preparation. The increasing R&D activities for blood preparation with improved therapeutic options is likely to uplift the market in the coming years.
The blood and blood components bank segment is witnessing significant CAGR growth through the forecast period.
Based on the application, the global blood preparation market is segmented into blood and blood component banks, diagnostic laboratories, ambulatory surgical centers, and others. Among these, the blood and blood component bank segment is witnessing significant growth through the forecast period. A large number of blood donations are received by blood banks. The rising demand for blood banks is responsible for increasing the blood preparation market. Blood banks are majorly responsible for the safe storage of blood donations and the process and screening of blood.
North America dominates the market with the largest market share over the forecast period.
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North America dominates the market with the largest market share over the forecast period. The increasing prevalence of blood-associated diseases like leukemia, cardiovascular disease, and neurological diseases rising the blood preparation market in the region. According to the estimation of the American Cancer Society, there are approximately 59,610 new cases of leukemia and 23,710 deaths due to leukemia in the U.S. region. The growing patient awareness and increasing healthcare expenditure level of blood transfusion therapeutics are likely to propel the blood preparation market in the region.
Asia-Pacific region is expected to grow the fastest during the forecast period. The improving healthcare infrastructure, presence of untapped opportunities, economic development, and rising initiatives by government and private organizations are some of the key factors responsible for the market growth of blood preparation. The launch of new therapies by active market players creates a favorable market opportunity for the growth of the blood preparation market.
Major vendors in the global blood preparation market are Pfizer, Inc., Sanofi, AstraZeneca plc, Baxter International Inc., GlaxoSmithKline, Leo Pharma A/S, Portola Pharmaceuticals, Inc., Bristol-Myres Squibb Company, Xiamen Hisunny Chemical Co., Ltd., Shandong East Chemical Industry Co., Portola Pharmaceuticals, Inc., Celgene Corp., Boehringer Ingelheim, Aralez Pharmaceutical, and Others Key Players.
Key Target Audience
- Market Players
- Investors
- End-users
- Government Authorities
- Consulting and Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
Recent Developments
- In May 2023, NYBC Ventures launched a $ 50 million fund to accelerate innovations in blood and cellular therapies.
- In February 2023, Terumo blood and cell technologies’ IMUGARD platelet pooling set was cleared by FDA. IMUGUARD is the platelet polling set that supports the extended shelf life of whole blood-derived platelets from five days to seven days.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global blood preparation market based on the below-mentioned segments:
Global Blood Preparation Market, Product Analysis
- Whole blood
- Blood components
- Blood derivatives
Global Blood Preparation Market, Type Analysis
- Antithrombotic
- Anticoagulant
Global Blood Preparation Market, Application Analysis
- Blood and Blood component bank
- Diagnostic Laboratories
- Ambulatory surgical centers
- Others
Global Blood Preparation Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of Middle East & Africa
About the Spherical Insights & Consulting
Spherical Insights & Consulting is a market research and consulting firm which provides actionable market research study, quantitative forecasting and trends analysis provides forward-looking insight especially designed for decision makers and aids ROI.
Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company's mission is to work with businesses to achieve business objectives and maintain strategic improvements.
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