Blood And Blood Components Market Forecast 2025-2034: Growth Dynamics, Emerging Trends, and Strategic Opportunities
2025 Market Reports Update: Market Size Forecasts to 2034, Key Trends, Leading Players, and Top Regions – Get Ahead of the Competition Today!
What Are the Primary Drivers Supporting the Market Growth of theBlood And Blood Components Market?
The demand for blood and blood components in the market is escalated by the rising occurrence of trauma cases and road accidents. Instances like hemorrhaging severely decrease blood volume in the body, creating a demand for immediate replacement, which the body can’t always produce fast enough. Road accidents also contribute to this need due to the rapid blood loss experienced by victims. In these situations, transfusion becomes essential for supplementing blood and blood components. For example, data from the Transport Accident Commission, an Australian government agency, showed an increase of 22.4% (or 54 more fatalities) in 2023, as 295 individuals died on Victorian roads. This was in addition to the 261 fatal crashes recorded, which were 22 (or 9%) more than the 239 cases in 2022. The increasing prevalence of diseases, coupled with the rise in road accidents and traumatic incidents, contributes to the growing demand for blood, therefore propelling the market.
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#What is the Anticipated CAGR of theBlood And Blood Components Market, and What Factors Will Drive It?
The market size of blood and blood components has seen consistent growth in recent years. It is anticipated to expand from $41.36 billion in 2024 to $43.2 billion in 2025, marking a compound annual growth rate (CAGR) of 4.5%. This growth during the historical period can be linked to a rise in trauma and road accidents, an aging population, higher income and living standards, increased spending on healthcare, and heightened awareness about the importance of donating blood.
The market for blood and blood components is projected to undergo substantial growth in the coming years, expanding to $53.56 billion in 2029 with a compound annual growth rate (CAGR) of 5.5%. Factors contributing to this growth during the forecast period include the rise in chronic diseases, policy measures by the government, and an escalating demand for whole blood. During this forecast period, key trends include partnerships with other market players, introduction of innovative products, emphasis on research and development (R&D) efforts, the use of IoT-based products to prevent blood and blood components from contamination, and a focus on regulating blood transfusion.
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What Are the Latest Innovations Influencing theBlood And Blood Components Market?
The dominant trend observed in the blood and blood components market is the increasing collaborations among the market participants. These firms are engaging in partnerships and collaborations to enhance their market presence, expand their customer pool, and boost awareness in the market. For instance, the American Red Cross partnered with HealthStream to initiate a new program for healthcare institutions. In a similar vein, the Blood Center of Wisconsin joined forces with SysLogic Inc., exploring how RFID technology can improve patient safety during the collection and transfusion of blood products.
Who Are the Major Industry Players Accelerating Growth in theBlood And Blood Components Market?
Major companies operating in the blood and blood components market include American Red Cross, The Japanese Red Cross Society, Canadian Blood Services, Australian Red Cross, and Vitalant, SANQUIN BLOOD SUPPLY FOUNDATION, New York Blood Center, Blood Bank of Alaska, Blood Centers of America, Xinjiang Deyuan Bioengineering, Harbin Pacific Biopharmaceutical, Southern Shuanglin Bio-Pharmacy, Beijing Tiantan Biological Products, Shanghai RAAS Blood Products, China Biologic Products, Hualan Biological Engineering, Biotest AG, Lorne Laboratories UK, LMB Germany, Bio Products Laboratory Ltd, Clinical Trials Laboratory Services (CTLS), Roche, Hemanext Inc, Kedrion Biopharma, KalVista Pharmaceuticals, Personal Genome, Cellphire, Inc., Immuno-Mycologics INC, CSL Behring, Nordson Corporation, Octapharma Canada Inc., Abbott Laboratories, Grifols, Nipro Medical Corporation, Becton, Dickinson and Company
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Which Primary Segments of the Blood And Blood Components Market Are Driving Growth and Industry Transformations?
The blood and blood components market covered in this report is segmented –
1) By Product: Whole Blood, Blood Components
2) By Blood Components: Red Blood Cells, Platelets, Plasma, White Blood Cells
3) By End-User: Hospitals, Ambulatory Surgical Centers, Others
4) By Application: Anemia, Trauma and Surgery, Cancer Treatment, Bleeding Disorders
Subsegments:
1) By Whole Blood: Donor Whole Blood, Autologous Whole Blood
2) By Blood Components: Red Blood Cells (RBCs), Platelets, Plasma, White Blood Cells (WBCs)
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Which Regions Are Key Players in the Growth of the #What Are the Primary Drivers Supporting the Market Growth of theBlood And Blood Components Market?# Market?
North America was the largest region in the blood and blood components market in 2024. Western Europe was the second largest region in the global blood and blood components market analysis. The regions covered in the blood and blood components market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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