Global Blood Preparation Market Size, Share, Forecast Report, 2024-2033
The global blood preparation market size was exhibited at USD 45.27 billion in 2023 and is projected to hit around USD 86.59 billion by 2033, growing at a CAGR of 6.7% during the forecast period of 2024 to 2033.
Key Takeaways:
Blood Preparation Market Report Scope
| Report Coverage | Details |
| Market Size in 2024 | USD 45.27 Billion |
| Market Size by 2033 | USD 86.59 Billion |
| Growth Rate From 2024 to 2033 | CAGR of 6.7% |
| Base Year | 2023 |
| Forecast Period | 2024-2033 |
| Segments Covered | Product, Antithrombotic And Anticoagulants Type, Application, Region |
| Market Analysis (Terms Used) | Value (US$ Million/Billion) or (Volume/Units) |
| Regional Scope | North America; Europe; Asia Pacific; Central and South America; the Middle East and Africa |
| Key Companies Profiled | Pfizer, Inc.;Bristol-Myers Squibb Company; Leo Pharma A/S; Sanofi; Xiamen Hisunny Chemical Co., LTD.; AstraZeneca plc; Baxter International Inc.; Portola Pharmaceuticals, |
Growing incidence of blood-related disorders, rising number of transfusion procedures, and increasing donations are the major factors driving the market. Moreover, extensive usage of blood and its components in several surgical procedures, increasing number of accidents, and growing donations are also expected to fuel the market over the study period. For instance, according to the American National Red Cross, in U.S. approximately 6.8 million people donate blood and about 13.6 million units of red blood cells and whole blood are collected annually in the U.S.
Transfusions are essential in the treatment of numerous conditions such as anemia, trauma, surgical procedures, and cancer treatments. For instance, in leukemia patients the body’s factory that makes blood damaged, hence transfusion are essential to manage the disease and its symptoms . Additionally, the rising prevalence of chronic diseases and advancements in healthcare technologies have further contributed to the growing demand for products.
Moreover, increasing research and development activities on preparation methods is anticipated to propel the market growth during the review period. For instance, in September 2022, researchers at Singapore-MIT Alliance for Research and Technology developed an efficient and fast technology to produce red blood cells. The novel technology utilizes more targeted cell sorting & purification methods and cuts cell culture time by half. Furthermore, launch of new blood bank centers across the globe are likely to offer ample opportunities for the market. For instance, in March 2023, Kenya's Ministry of Health, introduced a satellite blood bank center for improving access to quality and safe transfusion services in the region.
The introduction of novel technologies along with the increasing usage of plasma in the pharmaceutical industry is further projected to contribute to market growth over the forecast period. For instance, in April 2021, EryPharm introduced a medical device product to manufacture cultured red blood cells in large quantities and create new sources of blood for transfusions . Various governments across the globe are focusing on increasing the number of donations by applying reimbursement policies, such as monetary incentives for donors. For instance, in September 2021, The American Red Cross, introduced a national initiative to reach maximum number of donor to improve health outcomes in patients with sickle cell disease . These factor is also expected to help augment the growth of the global market over the next few years.
Segments Insights:
Product Insights
The whole blood product segment held the largest share of 47.0% of the market in 2023. The segment growth is majorly attributed to an increasing demand for major surgeries and transfusions along with its advantages, such as easy availability, low cost, and maintenance, is the major factor contributing to the segment’s high share. For instance, according to givingblood.org, an estimated 4.5 million American population need transfusion per year to deal with various healthcare conditions.
On the other hand, blood derivatives are likely to be the fastest-growing segment over the forecast years. The implementation of government initiatives for the development of plasma-derived proteins, such as immunoglobulins, coagulation factor products, human fibrin foam, dried human plasma, and human thrombin, are expected to drive the segment growth. For instance, in August 2023, Human and Health Services Department launched a new campaign with a focus to increase blood and plasma donations in the U.S.
Antithrombotic and Anticoagulants Type Insights
Anticoagulants segment held a share of 64.30% of the blood preparation in 2023. This maximum market share is attributed to the introduction of new products and increasing prevalence of cardiac conditions. With ongoing research and development activities, the anticoagulants market is expected to witness substantial growth in the coming years, offering improved therapeutic options for patients at risk of clotting disorders. For instance, in May 2023, Endo executed agreements with Gland Pharma Limited and MAIA Pharmaceuticals, Inc. to commercialize bivalirudin anticoagulant (thrombin inhibitor) that helps prevent the formation of clots in the U.S. market.
Fibrinolytics segment is expected to register highest CAGR during the forecast period. Biopharmaceutical companies are upgrading their products by launching novel and more efficient anticoagulant drugs in the market. Moreover, strategic programs conducted by market players are further projected to fuel the segment growth during the forecast period. For instance, in February 2023, Janssen Pharmaceuticals, Inc. and Bristol Myers Squibb entered into strategic collaboration and launched pivotal phase 3 Librexia clinical trial program.
Application Insights
In 2023, thrombocytosis segment held major share of 22.00% of the blood preparation market. Increasing prevalence of thrombocytosis, growing awareness and diagnosis of the condition, and advancements in diagnostic techniques are substantially playing a role in maximum segment share. Additionally, the development of targeted therapies and novel treatment options for thrombocytosis is further expected to fuel market growth.
Angina blood vessel complications are expected to grow at the fastest CAGR during the forecast period. Certain factors such as rising R&D for the development of anticoagulants for cardiac problems and increasing prevalence of Cardiovascular Disorders (CVDs) are estimated to drive the segment growth. Furthermore, a rise in lifestyle-associated diseases, the popularity of oral anticoagulants, growing patient awareness, increased healthcare expenditure, and favorable government policies are the factors driving the segment.
Regional Insights
North America led the overall blood preparation market with a share of 45.0% in 2023 owing to the high incidence of CVDs, leukemia, and hematological and neurological diseases in the region. For instance, according to The American Cancer Society’s estimates for 2023 in the U.S., approximately 59,610 new cases of leukemia and 23,710 deaths from leukemia . Higher patient awareness and healthcare expenditure levels along with the presence of sophisticated healthcare infrastructure will boost the region’s growth further.
The Asia Pacific is expected to witness the fastest growth on account of improving healthcare infrastructure, the presence of untapped opportunities, economic development, and rising initiatives by private and public organizations. Moreover, active involvement of market players with an aim to launch new therapies in the region is also expected to offer a favorable opportunity for market growth.
Some of the prominent players in the Blood preparation market include:
Segments Covered in the Report
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2021 to 2033. For this study, Nova one advisor, Inc. has segmented the global blood preparation market.
Product
Antithrombotic and Anticoagulants Type
Application
By Region
Cross-segment Market Size and Analysis for Mentioned Segments
Additional Company Profiles
(Upto 5 With No Cost)
Additional Countries (Apart
From Mentioned Countries)
Country/Region-specific Report
Go To Market Strategy
Region Specific Market DynamicsRegion Level Market Share Import Export AnalysisProduction AnalysisOthers