Discover trends, market shifts, and competitive outlooks for the blood and blood components industry through 2025-2034 with The Business Research Company’s reliable data and in-depth research

#What is the Anticipated CAGR of the Blood And Blood Components Market, and What Factors Will Drive It?

The market for blood and blood components has been experiencing consistent growth in the past few years. It’s estimated that this market will expand from $41.36 billion in 2024 to $43.2 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 4.5%. Factors contributing to this growth in the historic period include a surge in trauma and road accident cases, a rise in the elderly population, improvements in income and standard of living, increased spending in healthcare, and heightened awareness regarding blood donations.

Anticipated to experience robust expansion in the coming years, the blood and blood components market is projected to reach $53.56 billion by 2029, with a 5.5% compound annual growth rate (CAGR). The surge in the market prediction period can be credited to a rise in chronic illnesses, governmental initiatives, and a growing demand for whole blood. Key trends forecasted for this period include the emphasis on partnerships with other industry participants, the introduction of innovative products, prioritising research and development (R&D) operations, application of IoT-based products to prevent blood and blood component contamination, along with a concentrated effort towards managing blood transfusion.

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Which Primay Drivers Are Accelerating Growth in the Blood And Blood Components Market?

The rise in trauma incidents and road accidents is fuelling the growth of the blood and blood components market. At times, trauma-induced conditions like hemorrhage can significantly decrease blood volume, rendering the body unable to quickly replenish it. Furthermore, road mishaps often result in heavy blood loss that needs to be immediately replenished. Such conditions necessitate injecting the patient’s body with blood and its components. For example, the Transport Accident Commission, a government agency in Australia, noted that a total of 295 people died in 2023 on Victorian roads, a spike of 22.4% (54 more deaths) compared to 2022. The road fatality incidents rose to 261, an increase by 22 (9%) from the 239 registered in 2022. The escalating incidences of various illnesses and the rising number of road accidents and traumas are boosting the necessity for blood, in turn propelling the market.

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 #Which Primay Drivers Are Accelerating Growth in the Blood 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

Which Technological Trends Are Reshaping the Blood And Blood Components Industry Dynamics?

The blood and blood components market has been largely characterized by a rising trend in alliances and partnerships among the market’s players. This strategy is being leveraged by these firms to broaden their scope, augment their consumer base, and raise market awareness. For instance, the American Red Cross teamed up with HealthStream to launch an innovative program for healthcare institutions. Likewise, the Blood Center of Wisconsin partnered with SysLogic Inc., to research the application of RFID technology in improving patient safety during the collection and transfusion of blood products.

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What Parameters Are Used to Define the Blood And Blood Components Market?

Blood and Blood Components refers to the different parts of blood, such as red blood cells, white blood cells, platelets, and plasma, separated for medical use. These components are used to treat various conditions like anemia, clotting disorders, and immune deficiencies. Each component is transfused based on the patient’s specific needs for recovery.

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