The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

As per The Business Research Company’s Blood Preparation Global Market Report 2024, the blood preparation market is expected to show significant growth in the forecast period.

A Growing Market Landscape

The blood preparation market has demonstrated robust growth in recent years, witnessing an increase from $44.46 billion in 2023 to $47.72 billion in 2024, with a significant compound annual growth rate (CAGR) of 7.3%. This growth trajectory is underpinned by various factors, including the rising number of blood transfusion procedures, increasing prevalence of blood disorders, and enhanced awareness regarding blood safety measures.

Anticipating Continued Expansion

Looking forward, the blood preparation market is poised for continued growth, projected to reach $61.04 billion by 2028, boasting a CAGR of 6.3%. This anticipated growth can be attributed to escalating demand for blood components, personalized medicine approaches, and advancements in emerging therapies and applications, reflecting a promising outlook for the industry.

Blood Donation Driving Growth in the Blood Preparation Market

• The surge in blood donations globally is expected to drive the growth of the blood preparation market.
• Blood donation serves as a lifeline for patients requiring transfusions during surgeries, cancer treatments, and chronic illnesses.
• Initiatives by organizations such as the National Blood Service Ghana and the World Bank have led to a substantial increase in blood donations, highlighting the growing momentum in this sector.

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Technological Advancements Revolutionizing Blood Preparation

• Technological innovations play a pivotal role in reshaping the blood preparation market.
• Companies are investing in cutting-edge solutions to enhance blood processing efficiency and safety standards.
• Notably, EryPharm’s breakthrough in mass-producing cultured red blood cells signifies a significant milestone in blood transfusion technology.

Strategic Acquisitions Strengthen Market Capabilities

• Trajan Scientific and Medical’s acquisition of MyHealthTest underscores the industry’s focus on expanding analytical services.
• This strategic move enhances Trajan’s capacity to provide comprehensive analytical measuring services, fostering innovation and efficiency in blood preparation.

Market Segmentation and Regional Dynamics

• Product:Segmented into Whole Blood, Blood Components, and Blood Derivatives.
• Antithrombotic and Anticoagulants Type:Includes Platelet Aggregation Inhibitors, Fibrinolytics, and Anticoagulants.
• Application:Comprises Transfusion, Diagnostics, and Research.
• End User:Encompasses Hospitals, Clinics, Blood Banks, and Other End-Users.

Regional Outlook:

• North America:Emerged as the largest region in the blood preparation market in 2023, reflecting significant market presence and growth opportunities.
• Asia-Pacific:Anticipated to be the fastest-growing region during the forecast period, driven by burgeoning healthcare infrastructure and rising demand for blood-related services.

In conclusion, the blood preparation market is experiencing substantial growth fueled by technological innovations, increasing blood donation initiatives, and strategic acquisitions. As stakeholders continue to prioritize safety, efficiency, and innovation, the landscape of blood preparation is poised for transformative advancements, offering enhanced treatment options and improved patient outcomes on a global scale.

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