The blood market accounted for $7,201 million in 2020, and is expected to reach $10,253 million by 2027, registering a CAGR of 4.5% from 2020 to 2027.Furthermore, plasma is a major content of blood and low level of plasma in the body can hamper normal functioning. Thus, patients who suffer from medical conditions such as liver diseases lead to lower plasma level requiring plasma transfusions. Thus, collection of blood is a necessary task and requires the use of reagents and blood collection systems. Moreover, the collected blood is subjected to screening, which further requires use of systems and reagents. This collected and screened blood is then circulated to various end users such as blood and blood component banks, diagnostic laboratories, ambulatory surgical centers, and hospitals.
Blood is vital for life and is required for normal functioning of the human body. Furthermore, bone marrow is responsible for the production of blood cells in the body. However, various medical conditions can lead to altered level of blood, which can be fatal for a patient. For instance, medical conditions such as chronic kidney diseases, cancer, and hemophilia B require blood transfusions for treatment. Moreover, in event of a trauma, which causes injury to a patient, blood transfusion is might be required for treatment based on the nature of the injury. Similarly, surgeries can also lead to major blood loss leading to the need for blood transfusions.
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Growth of the blood market is driven by factors such as surge in demand for blood and plasma across the globe and rise in geriatric population worldwide. In addition, increase in blood and plasma donations across the globe and favorable government regulations for blood screening are some other factors that boost the growth of the market.
Furthermore, advancements in blood transfusion and blood screening instruments is another major factor that drives growth of the blood market. However, factors such as high cost of advanced blood collection devices and lack of skilled laboratory professionals hinder the growth of the market. Conversely, developing economies offer lucrative growth opportunities for the market growth.
The blood market is segmented into product, end user, and region. On the basis of product, it is classified into whole blood collection and processing, source plasma collection, blood typing products, and blood screening products. Furthermore, all these segments are further classified into sub-segments. For instance, the whole blood collection segment is classified into whole blood collection systems and whole blood collection consumables. The source plasma collection segment is classified into source plasma collection systems and source plasma collection consumables. In addition, the blood typing products are further bifurcated into blood typing systems, blood typing reagents. The blood screening products are divided into blood screening systems, and blood screening reagents.
On the basis of end user, the market is divided into blood and blood component bank, diagnostic laboratories, ambulatory surgical centers, hospitals, and others. Region wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and rest of Europe), Asia-Pacific (Japan, China, Australia, India, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, and rest of LAMEA).
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The healthcare sector is vital to both national economies and people all across the world. One of the industries with the fastest growth rates is this one. There is a correlation between income levels and healthcare spending across nations because healthcare spending accounts for more than 10% of the GDP of the majority of developed countries. According to the Centers for Medicare and Medicaid Services, US healthcare spending increased by 4.6% in 2019 to reach US$ 3.8 trillion, or US$ 11,582 per person and represented 17.7% of GDP. Additionally, households paid for 28.4% of all health expenditures, followed by the federal government for 29.0%. 16.1% of all healthcare costs were paid for by state and municipal governments, while 7.5% came from other private sources.
Due to advancements spurred by AI/ML, the impact of digital health technology will grow. Data from the Department for Promotion of Industry and Internal Trade show that FDI in the medicines and medication sector totaled US$19.12 billion (DPIIT).
KEY BENEFITS FOR STAKEHOLDERS
– This report entails a detailed quantitative analysis along with the current global blood market trends from 2019 to 2027 to identify the prevailing opportunities along with the strategic assessments.
– The market size and estimations are based on a comprehensive analysis of key developments in the industry.
– A qualitative analysis based on innovative products facilitates strategic business planning.
– The development strategies adopted by the key market players are enlisted to understand the competitive scenario of the market
– List of key players profiled in the report:
– Abbott Laboratories
– Bio-Rad Laboratories, Inc.
– CSL Limited (CSL Behring).
– F. Hoffmann-La Roche Ltd.
– Grifols International SA
– Haemonetics Corporation
– Merck & Co., Inc.
– Novo Nordisk A/S
– Ortho Clinical Diagnostics
– Terumo Corporation (Terumo BCT, Inc.)
– Fresenius Kabi
– Qiagen N.V.
Key Market Segments
– By Product
o Whole Blood Collection and Processing
– Whole Blood Collection Systems
– Whole Blood Collection Consumables
o Source Plasma Collection
– Source Plasma Collection Systems
– Source Plasma Collection Consumables
o Blood Typing Products
– Blood Typing Systems
– Blood Typing Reagents
o Blood Screening Products
– Blood Screening Systems
– Blood Screening Reagents
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– By End User
o Blood & Blood Component Bank
o Diagnostic Laboratories
o Ambulatory Surgical Centers
o Blood And Blood Component Bank
o Others
– By Region
o North America
– U.S.
– Canada
– Mexico
o Europe
– Germany
– France
– UK
– Italy
– Rest of Europe
o Asia-Pacific
– Japan
– China
– India
– Rest of Asia-Pacific
o LAMEA
– Brazil
– Saudi Arabia
– South Africa
– Rest of LAMEA
Table of Content:
- Report Overview
- Global Growth Trends
- Competition Landscape by Key Players
- Data Segments
- North America Market Analysis
- Europe Market Analysis
- Asia-Pacific Market Analysis
- Latin America Market Analysis
- Middle East & Africa Market Analysis
- Key Players Profiles Market Analysis
- Analysts Viewpoints/Conclusions
- Appendix
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- And so forth of the fundamental players, which assists the peruses with distinguishing the indispensable contenders and profoundly know the opposition instance of the market.
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