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#How Has The Blood Market Size Shifted, And What Is the Outlook Through 2034?

In recent times, there has been substantial growth in the size of the blood market. Forecasts indicate an increase from $8.32 billion in 2024 to $8.86 billion in 2025, registering a compound annual growth rate (CAGR) of 6.6%. This significant growth in the historic period is attributed to factors such as increased demand for blood and plasma, a rise in surgical procedures, an expanding global population, increasing occurrence of chronic ailments, and a growth in the number of blood banks.

How Much Will the Blood Market Be Worth in 2029?

The blood market is projected to experience significant expansion in the coming years. Forecasting to reach $11.28 billion by 2029, this displays a compound annual growth rate (CAGR) of 6.2%. Factors contributing to this projected growth during the forecast period include propitious governmental regulations, an aging population, enhanced awareness concerning blood donations, as well as an increase in blood transfusions and ambulatory surgical centers (ASCS). Key trends during this forecast period encapsulate advancements in tools used for blood screening and transfusion, computerized immunoassays, intelligent systems for blood bank inventory management, technological innovations along with accurate temperature monitoring and management.

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Which is the Largest Company in the Blood Market?

Major companies operating in the blood market are Cardinal Health Inc., Roche Holding AG, Thermo Fisher Scientific Inc., Abbott Laboratories, Medtronic Plc, Danaher Corp., Merck KGaA, Asahi Kasei Medical Co. Ltd., Henry Schein Inc., Medline Industries Inc., B. Braun Melsungen AG, Grifols SA, Terumo Corp., Nipro Corp., QuidelOrtho Corp., Bio Rad Laboratories Inc., LivaNova PLC, Haemonetics Corp., Macopharma, DIAGAST SAS, BAG Health Care GmbH, Kawasumi Laboratories America Inc

What Are the Main Market Drivers in the Blood Industry?

The blood market’s growth is likely to be fuelled by an escalating number of surgeries. This increase is attributable to advances in medical technology, an older population demographic, and an uptick in chronic illness cases. Blood plays a vital role in surgical procedures by delivering oxygen and nutrients, promoting clotting to manage bleeding, and bolstering the immune system to fend off infections. For example, the Australian Institute of Health and Welfare, a government agency in Australia, reported in December 2023 that during 2022–2023, 735,500 patients received surgery from public hospital elective surgery waiting lists. This is an 18% surge when compared to the figures from 2021–2022. Consequently, the rise in surgery cases is propelling the blood market’s progress.

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How Is the Blood Market Segments Structured?

The blood market covered in this report is segmented –

1) By Product: Whole Blood Collection And Processing, Source Plasma Collection, Blood Typing Products, Blood Screening Products

2) By Mode of Delivery: Infusion Solutions, Gels, Sprays, Biomedical Sealants

3) By End User: Blood And Blood Component Bank, Diagnostic Laboratories, Ambulatory Surgical Centers, Hospitals, Other End Users

Subsegments:

1) By Whole Blood Collection And Processing: Blood Collection Bags, Blood Processing Kits, Blood Separation Systems, Blood Donation Kits

2) By Source Plasma Collection: Plasma Collection Kits, Automated Plasma Collection Systems, Plasma Freezers And Storage Equipment

3) By Blood Typing Products: Blood Typing Reagents, Blood Typing Kits (Manual And Automated), Blood Grouping Solutions

4) By Blood Screening Products: Blood Screening Reagents, Blood Screening Systems (Automated And Manual), Infectious Disease Testing Kits, Hemoglobin Testing Kits

What Strategic Trends Are Transforming the Blood Market?

Prominent companies in the blood market are innovating advanced blood transfusion tools, including plasma collection systems, to increase efficiency, improve donor safety, and elevate the quality of blood products. A plasma collection system is an equipment that isolates plasma from a donor’s blood and separates it from other elements before returning the remaining blood components to the donor through plasmapheresis. For example, in March 2022, Terumo Blood and Cell Technologies, an American firm specializing in blood component and cellular technology, was granted approval from the Food and Drug Administration for their Rika Plasma Donation System (Rika). Rika, a next-gen plasma collection system, aims to better the experience of plasma center employees and donors, highlighting safety precautions to minimize operator mistakes and successfully completing plasma collection in less than 35 minutes. Rika guarantees that no more than 200 milliliters of blood are out of the donor’s body at any time and features a sophisticated control system for operators.

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Which Global Regions Offer the Highest Growth in the Blood Market?

North America was the largest region in the blood market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the blood market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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This Report Delivers Insight On:

1. How big is the blood market, and how is it changing globally?

2. Who are the major companies in the blood market, and how are they performing?

3. What are the key opportunities and risks in the blood market right now?

4. Which products or customer segments are growing the most in the blood market?

5. What factors are helping or slowing down the growth of the blood market?

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