Global Blood Market Analysis 2025–2029: Opportunities for Strategic Growth

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How Much Larger Is The Blood Market Expected To Become By 2029 Compared With Its 2025 Level?

The blood market size has experienced significant expansion recently. This market is projected to expand from $8.32 billion in 2024 to $8.84 billion in 2025, demonstrating a compound annual growth rate (CAGR) of 6.3%. Historically, this growth can be ascribed to several factors, including a sharp rise in the need for blood and plasma, an uptick in surgical procedures, an expanding global populace, an increase in chronic disease prevalence, and a greater number of blood banks.

The blood market is projected to experience substantial expansion over the upcoming years, reaching a valuation of $11.2 billion by 2029, with a compound annual growth rate (CAGR) of 6.1%. This anticipated growth is influenced by favorable government regulations, an increasing geriatric population, heightened public awareness regarding blood donation, an uptick in blood transfusions, and a rising number of ambulatory surgical centers (ASCs). Noteworthy trends for this period include advancements in blood transfusion and blood screening instruments, computerized immunoassays, intelligent blood bank inventory control systems, other technological innovations, and precise temperature monitoring and control.

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Which Major Market Drivers Are Shaping The Future Of The Blood Market?

An anticipated surge in surgical procedures is poised to fuel the expansion of the blood market. This increase in surgeries stems from advancements in medical technology, an increasingly elderly population, and a rise in chronic illnesses. During surgical operations, blood plays a vital role in delivering oxygen and nutrients, facilitating coagulation to manage blood loss, and strengthening the immune system against infections. For instance, in December 2023, the Australian Institute of Health and Welfare, an Australia-based government administration, reported that in 2022–2023, 735,500 patients underwent surgery from public hospital elective surgery waiting lists, which was an 18% increase compared to 2021–2022. Consequently, the growing volume of surgeries is projected to be a primary driver for the blood market moving ahead.

What Are The Segment Types Shaping The Blood Market?

The bloodmarket 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

Which Competitive Trends Are Defining The Blood Market Structure?

Major companies within the blood market are engaged in the development of advanced blood transfusion instruments, specifically plasma collection systems, aiming to boost efficiency, enhance donor safety, and elevate the overall quality of blood products. A plasma collection system is a device designed to extract plasma from a donor’s blood by separating it from other components, subsequently returning the rest to the donor through plasmapheresis. For instance, in March 2022, Terumo Blood and Cell Technologies, a US-based blood component and cellular technology company, obtained Food and Drug Administration approval for the Rika Plasma Donation System (Rika). This innovative system is a next-generation plasma collection technology focused on improving the experience for both plasma center employees and donors, incorporating safety measures to reduce operator errors and completing plasma collection in 35 minutes or less. Rika guarantees that no more than 200 milliliters of blood are outside the donor’s body at any given time and is equipped with an advanced control system for operators.

Which Leading Players Are Enhancing Their Blood Market Presence Worldwide?

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 Do Regional Market Performances Compare Within The Blood Industry?

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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