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How Are Key Drivers in the Industry Acting as Catalysts for the Growth of theBlood Market?

The growth of the blood market is anticipated to receive a significant boost due to the increasing number of surgeries. This surge in surgical procedures is influenced by advancements in medical technology, an aging population, and a rise in chronic disease cases. Blood plays an indispensable role in surgery, providing oxygen and nutrients, assisting in blood clotting to halt bleeding, and strengthening the immune response to fight against infections. For example, in December 2023, data from the Australia-based government body, the Australian Institute of Health and Welfare, revealed that the number of patients admitted for surgery from public hospital elective surgery waiting lists in 2022–2023 amounted to 735,500 – marking an 18% increase compared to the previous year. Consequently, the escalating number of surgeries is a key factor propelling the blood market.

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#What Are the Key Projections for the CAGR of the Blood Market From 2025 to 2034?

The dimension of the blood market has significantly expanded in the recent past. There’s an estimated escalation from $8.32 billion in 2024 to $8.86 billion in 2025, reflecting a compound annual growth rate (CAGR) of 6.6%. This growth during the historical period can be traced back to a number of factors including a soaring demand for blood and plasma, a rise in surgical procedures, an increasing global populace, a heightened occurrence of chronic illnesses, and an uptick in the number of blood banks.

In the upcoming years, the blood market is anticipated to experience robust growth, escalating to $11.28 billion by 2029 with a compound annual growth rate (CAGR) of 6.2%. This progression in the forecast period can be credited to favorable governmental policies, an increase in the elderly population, escalating consciousness regarding blood donation, a rise in blood transfusion, and a growing number of ambulatory surgery centers. Significant trends forecasted for this period embrace advancements in both blood screening tools and blood transfusion, computerized immunoassays, sophisticated blood bank inventory management systems, technological breakthroughs, and accurate temperature oversight and regulation.

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What Are the Current Market Growth and Trends in theBlood Market That Industry Players Should Watch?

Major firms in the blood market are focusing on the formation of state-of-the-art blood transfusion tools, including plasma collection systems. This is to boost performance, heighten donor safety, and uplift the quality of blood products overall. A plasma collection system segregates plasma from donated blood, then proceeds to return the leftover components to the donor via plasmapheresis. For example, in March 2022, Terumo Blood and Cell Technologies, a corporation based in the US that specializes in blood components and cellular technology, attained approval from the Food and Drug Administration for the Rika Plasma Donation System (Rika). This innovative plasma collection system aims to revamp the experience for personnel at plasma centers and donors, introducing protective factors to minimize operator mistakes while accomplishing plasma collection in 35 minutes or less. Rika guarantees that only a maximum of 200 milliliters of blood is outside of the donor’s body at any given time and comprises a progressive control system for operators.

What Are the Major Market Players Making an Impact on theBlood Market Growth?

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

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How Are the Key Segments of the Blood Market Driving Opportunities and Innovations?

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

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What Regions Are At the Forefront of #How Are Key Drivers in the Industry Acting as Catalysts for the Growth of theBlood Market?# Market Expansion?

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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