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What key factors are powering the surge in the blood preparation market right now?
In recent times, the blood preparation market has exhibited robust growth. It is projected to expand from $48.03 billion in 2024, reaching $51.28 billion in 2025, marking a compound annual growth rate (CAGR) of 6.7%. This growth during the historical period is attributable to the surge in blood transfusion procedures, a rising prevalence of blood-related disorders, enhanced awareness about blood safety, worldwide blood donation campaigns, and government norms and standards.
How fast Is the blood preparation market expected to grow, and what’s its future value?
In the coming years, the blood preparation market is predicted to witness robust expansion. The market is projected to reach “$66.59 billion by 2029, with a compound annual growth rate (CAGR) of 6.8%. This growth during the forecast period is influenced by the increasing necessity for blood components, personalized methodologies in medicine, novel therapies and their applications, and improvements in the global healthcare infrastructure. Key trends during the forecast period will be the mechanization and unification of blood processing methods, surging demand for blood components with reduced pathogens, customization and personalization of blood components, emphasis on platelet-rich plasma (PRP) and platelet-rich fibrin (PRF), as well as regulatory compliance and stringent quality norms.
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What are the leading drivers of growth in the blood preparation market?
The surge in global blood donations is anticipated to drive the expansion of the blood preparation market in the future. Blood donation, which refers to the act of giving blood to aid others in need, facilitates blood transfusions—crucial procedures for sustaining and saving lives. Patients in need of surgical intervention, undergoing cancer treatment, enduring chronic diseases, or suffering from severe traumas rely on blood to survive. This donation process is a critical component of blood preparation, ensuring that blood is readily available wherever and whenever it’s needed. For instance, Red Cross Blood, a biotechnology research company based in the U.S., expects that by 2023, about 6.8 million individuals will donate blood, with an estimated 13.6 million units of whole blood and red blood cells collected annually. As such, the uptick in blood donations is fueling the expansion of the blood preparation market.
What are the key segments defining the blood preparation market?
The blood preparation market covered in this report is segmented –
1) By Product: Whole Blood, Blood Components, Blood Derivatives
2) By Antithrombotic And Anticoagulants Type: Platelet Aggregation Inhibitors, Fibrinolytics, Anticoagulants
3) By Application: Transfusion, Diagnostics, Research
4) By End User: Hospitals, Clinics, Blood Banks, Other End-Users
Subsegments:
1) By Whole Blood: Fresh Whole Blood, Stored Whole Blood
2) By Blood Components: Red Blood Cells (RBC), Platelets, Plasma, White Blood Cells (WBC)
3) By Blood Derivatives: Immunoglobulins, Coagulation Factors, Albumin, Fibrinogen
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Who are the key players steering the development of the blood preparation market?
Major companies operating in the blood preparation market include AstraZeneca PLC, Sanofi, LEO Pharma A/S, Bristol-Myers Squibb Company, Baxter International Inc, Pfizer Inc, Portola Pharmaceuticals Inc, GlaxoSmithKline PLC, Bayer AG, Boehringer Ingelheim, Celgene Corp, Shandong East Chemical Industry Co., Xiamen Hisunny Chemical Co. LTD, Merck & Co., Amgen Inc., Takeda Pharmaceutical Company Limited, Novartis AG, Johnson & Johnson, Gilead Sciences Inc., Regeneron Pharmaceuticals Inc., AbbVie Inc., Roche Holding AG, CSL Behring, BioMarin Pharmaceutical Inc., Genentech Inc., Sandoz International GmbH, Medtronic plc, Fresenius Kabi AG, Grifols S.A., HemaCare Corporation, Terumo Corporation
What emerging trends are influencing the growth of the blood preparation market?
The emergence of innovative technology is a significant trend gaining traction in the blood preparation market. Leading companies within this market are prioritizing the introduction of novel technological solutions to maintain their market standing. For example, in June 2024, Innobiochips, a biotech firm based in France, introduced Omnys. This advanced blood testing and grouping solution is designed to enhance the efficacy and precision of blood transfusion operations. Utilizing patented multiplex technologies, it facilitates high-definition testing of various blood components, such as ABO/D typing, phenotyping, extended phenotyping, and antibody screening. This all-encompassing system amalgamates testing devices, reagents, and consumables to simplify workflows, enabling medical facilities and laboratories to conduct accurate blood analyses with minimal sample volume requirements.
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Which regions are most influential in expanding the blood preparation market?
North America was the largest region in the blood preparation market in 2024. Asia-Pacific is expected to be the fastest-growing region in the global blood preparation market during the forecast period. The regions covered in the blood preparation market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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