Blood Preparation Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 5.50 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Blood Preparation Market Analysis
The blood preparation market is expected to register a CAGR of 5.5% over the forecast period.
The COVID-19 pandemic initially had a substantial impact on the blood preparation market. The strict lockdowns and government regulations intended to slow down the spread of COVID-19 resulted in a decrease in blood collection activities. For instance, according to an article published by PLoS One in March 2022, both active and inactive donors felt less responsible and less morally obliged to donate blood during the pandemic, which resulted in an overall negative effect on blood donation. The article also stated that the pandemic compromised blood donations and endangered the life-saving blood supply. Thus, the pandemic affected the market's growth significantly in its preliminary phase; however, the market has gained traction in the post-pandemic period, and it is expected to observe stable growth during the forecast period.
Furthermore, the growing demand for blood and its components in surgeries, growing government and private sector initiatives, and the increasing geriatric population are among the major factors driving the growth of the market studied. Currently, the number of surgeries is increasing, which, in turn, is increasing the demand for blood preparation products. Such factors are likely to contribute to the growth of the market studied. For instance, according to the data published by British Heart Foundation in December 2021, an estimated 32,938 completed heart operations and other heart procedures were performed in England in October 2021. Moreover, according to the article published by the Annals of Surgery in July 2021, in the United States, nearly nine major surgeries are performed annually for every 100 adults, and more than 1 in 7 Medicare beneficiaries underwent a major surgery over five years, representing almost 5 million unique adults. Hence, the rising number of surgeries is expected to create a demand for blood and its components, thus enhancing the market growth.
Growing initiatives by the government and private bodies to raise awareness regarding blood donations and saving patients with better network collaborations through hospitals and social networks have been observed in recent years.
In addition, new product launches and strategic activities by major players in the market are positively affecting the growth of the market studied. For example, in June 2021, the United States FDA approved Pradaxa (dabigatran etexilate) oral blood thinning pellets to treat children between 3 months to less than 12 years old with venous thromboembolism (a condition where blood clots form in the veins) directly after they have been treated with a blood thinner injected for at least five days. The FDA also approved Pradaxa oral pellets to prevent recurrent clots among patients 3 months to less than 12 years old who completed treatment for their first venous thromboembolism. Additionally, Pradaxa is the first FDA-approved blood thinning medication children can consume orally. Thus, due to product launches and partnerships among market players, the studied market is expected to have significant growth over the forecast period.
Therefore, all the factors above, such as the growing demand for blood and its components in surgeries, the new product launches, and strategic activities by major players in the market, are anticipated to witness growth over the analysis period. However, the risk of infection post-transfusion and irregular infrastructure scenario to preserve blood are likely to impede the market's growth.
Blood Preparation Market Trends
This section covers the major market trends shaping the Blood Preparation Market according to our research experts:
Whole Blood is Expected to Have a Significant Growth Over the Forecast Period
Whole blood contains a combination of cellular elements, colloids, and crystalloids. Some of the indications in which whole blood becomes very important are therapies when no specific blood components are available and RBC replacement in acute active blood loss. The centrifugation machines and other preservation reagents and devices are readily available and cost-effective for companies to manage. In several types of blood loss and blood infection disorders, whole blood becomes a primary necessity for hospitals and blood donation centers. Some indications include hemophilia A, hereditary factor II, IX, thrombocytopenia, etc. The maintenance and preservation of whole blood are also cost-effective compared to other blood products.
The major factors driving the segment's growth are increasing blood donation campaigns worldwide, increasing awareness about the importance of whole blood, the rising number of surgeries, and the increasing geriatric population.
The increasing number of blood donation camps around the world is a major factor driving the growth of the segment. For instance, in September 2022, the Akhil Bhartiya Terapanth Yuvak Parishad (ABTYP), with 350 branches and a strength of more than 45000 members, launched a major Mega Blood Donation Drive, the drive intends to organize more than 2000 camps and donate over 100000 units of blood across the globe. Moreover, in June 2022, ZKTeco West Africa partnered with the Lagos State Government for the blood donation campaign titled 'Give Blood and Keep the World Beating' in Lagos State in Nigeria.
In addition, the increasing number of surgeries is one of the key factors for the segment's growth. For instance, according to the WHO updates from June 2021, cesarean section use continues to rise globally, accounting for more than 1 in 5 (21%) childbirths. Moreover, several countries are also experiencing a rise in surgical procedures owing to the rising burden of non-communicable diseases and injuries. Furthermore, as per the data published by CDC in July 2022, the rate of cesarean delivery increased to 32.1% in the United States in 2021. Cesarean delivery is an abdominal surgery that requires the use of whole blood. Thus, the segment is expected to witness significant growth over the forecast period due to the abovementioned factors.
North America is Expected to Hold A Significant Market Share over the Forecast Period
North America is among the major contributing regions for the blood preparation market. A large number of factors help the United States, Canada, and Mexico to dominate the other regions of the world. Well-established infrastructure, hospital networks, reimbursement scenarios for managing chronic diseases, medical tourism growth, and healthy trade relations with the developed and parts of emerging markets highly contribute to the overall growth of the market studied.
The increasing blood donation campaigns and the increasing awareness about the importance of blood and plasma donations in the region are major factors driving the segment's growth. For instance, in August 2022, the United States Department of Health and Human Services (HHS) announced a new campaign to increase United States blood and plasma donations. The campaign was aimed to raise awareness of the importance of donating blood and plasma and to encourage Americans to create new, regular donation habits.
Furthermore, key product launches, high concentration of market players, and manufacturers' presence in the United States and Canada are some of the factors driving the growth of the blood preparation market in the region. For instance, in September 2022, Grifols announced that they had signed a pioneering long-term agreement with Canadian Blood Services, Canada's national blood authority, to significantly increase the country's self-sufficiency in immunoglobulin (Ig) medicines, essential plasma-protein therapies used to treat a wide range of immunodeficiencies and other medical conditions. These continuous product launches in the region are anticipated to drive the growth of the market in the country.
Therefore, owing to the aforesaid factors, the growth of the studied market is anticipated in the North American region.
Blood Preparation Industry Overview
The blood preparation market is fragmented due to the presence of several companies operating globally and regionally. The competitive landscape includes an analysis of a few international and local companies with significant market shares that are well known. It includes AstraZeneca, Bayer AG, Boehringer Ingelheim, Bristol-Myers Squibb Company, Daiichi Sankyo, GlaxoSmithKline PLC, Leo Pharma, Pfizer Inc, Sanofi, and Grifols SA.
Blood Preparation Market Leaders
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Bayer AG
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Boehringer Ingelheim
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GlaxoSmithKline PLC
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Pfizer, Inc.
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Leo Pharma
*Disclaimer: Major Players sorted in no particular order
Blood Preparation Market News
- November 2022- ImmunoTek Plasma opened a new plasma collection center in Indianapolis. They have plasma collection centers in 12 states and another Indiana location in Jeffersonville, United States.
- February 2022- Bayer AG won fast-track status from United States drug regulators for a new blood thinner designed to prevent certain types of strokes as it seeks to follow up on the success of its anticoagulant, Xarelto.
Blood Preparation Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions and Market Definition
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
- 4.1 Market Overview
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4.2 Market Drivers
- 4.2.1 Growing Demand of Blood and Its Components in Surgeries
- 4.2.2 Growing Initiatives by Government and Private Sector
- 4.2.3 Increasing Geriatric Population
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4.3 Market Restraints
- 4.3.1 Risk of Infection Post-Transfusion
- 4.3.2 Irregular Infrastructure Scenario to Preserve Blood
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4.4 Porter's Five Forces Analysis
- 4.4.1 Threat of New Entrants
- 4.4.2 Bargaining Power of Buyers/Consumers
- 4.4.3 Bargaining Power of Suppliers
- 4.4.4 Threat of Substitute Products
- 4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size by Value in USD million)
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5.1 By Product Type
- 5.1.1 Blood Components
- 5.1.2 Whole Blood
- 5.1.3 Blood Derivatives
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5.2 By Blood Thining Agents
- 5.2.1 Fibrinolytic
- 5.2.2 Anticoagulants
- 5.2.3 Platelet Aggregation Inhibitor
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5.3 By Application
- 5.3.1 Thrombocytosis
- 5.3.2 Pulmonary Embolism
- 5.3.3 Renal Impairment
- 5.3.4 Other Applications
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5.4 By Geography
- 5.4.1 North America
- 5.4.1.1 United States
- 5.4.1.2 Canada
- 5.4.1.3 Mexico
- 5.4.2 Europe
- 5.4.2.1 Germany
- 5.4.2.2 United Kingdom
- 5.4.2.3 France
- 5.4.2.4 Italy
- 5.4.2.5 Spain
- 5.4.2.6 Rest of Europe
- 5.4.3 Asia-Pacific
- 5.4.3.1 China
- 5.4.3.2 Japan
- 5.4.3.3 India
- 5.4.3.4 Australia
- 5.4.3.5 South Korea
- 5.4.3.6 Rest of Asia-Pacific
- 5.4.4 Middle East and Africa
- 5.4.4.1 GCC
- 5.4.4.2 South Africa
- 5.4.4.3 Rest of Middle East and Africa
- 5.4.5 South America
- 5.4.5.1 Brazil
- 5.4.5.2 Argentina
- 5.4.5.3 Rest of South America
6. COMPETITIVE LANDSCAPE
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6.1 Company Profiles
- 6.1.1 AstraZeneca
- 6.1.2 Bayer AG
- 6.1.3 Boehringer Ingelheim
- 6.1.4 Bristol-Myers Squibb Company
- 6.1.5 Daiichi Sankyo
- 6.1.6 GlaxoSmithKline PLC
- 6.1.7 Leo Pharma
- 6.1.8 Pfizer Inc
- 6.1.9 Grifols SA
- 6.1.10 Sanofi
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Blood Preparation Industry Segmentation
Blood preparation involves a typical blood establishment process from collection to storage and transfer to hospitals for critical cases. Blood becomes an essential factor during life-threatening conditions, supportive therapy for surgery, chemotherapy, and stem cell and organ transplantation.
The Blood Preparation Market is Segmented by Product Type (Blood Components, Whole Blood, and Blood Derivatives), Blood Thinning Agents (Fibrinolytic, Anticoagulants, and Platelet Aggregation Inhibitor), Application (Thrombocytosis, Pulmonary Embolism, Renal Impairment, and Other Applications) and Geography (North America (United States, Canada, and Mexico), Europe ) Germany, United Kingdom, France, Italy, Spain, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, South Korea, and Rest of Asia-Pacific), Middle East and Africa (GCC, South Africa, and the Rest of Middle East and Africa), and South America Brazil, Argentina, and Rest of South America)). The market report also covers the estimated market sizes and trends for 17 countries across major global regions. The report offers value (in USD million) for the above segments.
| By Product Type | Blood Components | |
| Whole Blood | ||
| Blood Derivatives | ||
| By Blood Thining Agents | Fibrinolytic | |
| Anticoagulants | ||
| Platelet Aggregation Inhibitor | ||
| By Application | Thrombocytosis | |
| Pulmonary Embolism | ||
| Renal Impairment | ||
| Other Applications | ||
| By Geography | North America | United States |
| Canada | ||
| Mexico | ||
| By Geography | Europe | Germany |
| United Kingdom | ||
| France | ||
| Italy | ||
| Spain | ||
| Rest of Europe | ||
| By Geography | Asia-Pacific | China |
| Japan | ||
| India | ||
| Australia | ||
| South Korea | ||
| Rest of Asia-Pacific | ||
| By Geography | Middle East and Africa | GCC |
| South Africa | ||
| Rest of Middle East and Africa | ||
| By Geography | South America | Brazil |
| Argentina | ||
| Rest of South America |
Blood Preparation Market Research FAQs
What is the current Blood Preparation Market size?
The Blood Preparation Market is projected to register a CAGR of 5.5% during the forecast period (2024-2029)
Who are the key players in Blood Preparation Market?
Bayer AG, Boehringer Ingelheim, GlaxoSmithKline PLC, Pfizer, Inc. and Leo Pharma are the major companies operating in the Blood Preparation Market.
Which is the fastest growing region in Blood Preparation Market?
Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Blood Preparation Market?
In 2024, the North America accounts for the largest market share in Blood Preparation Market.
What years does this Blood Preparation Market cover?
The report covers the Blood Preparation Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Blood Preparation Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Blood Preparation Industry Report
Statistics for the 2024 Blood Preparation market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Blood Preparation analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
