Blood Preparation Market Size To Reach USD 81.99 Bn By 2032

adminDecember 15, 2023

The global blood preparation market size reached USD 48.53 billion in 2023 and is expected to grow around USD 81.99 billion by 2032, at a CAGR of 6% from 2023 to 2032.

Blood Preparation Market Size 2023 To 2032

Key Takeaways

North America contributed more than 45% of revenue share in 2022.
Asia Pacific is expected to witness the fastest growth rate in the blood preparation market during the forecast period.
By product, the whole blood segment held the largest share of the blood preparation market in 2022.
The blood derivatives segment is expected to grow at a significant compounded annual growth (CAGR) rate during the forecast period.
By application, the thrombocytosis segment accounted for a larger share in 2022.
The angina blood vessel complications segment is estimated to grow with a notable CAGR during the study period till 2032.

The Blood Preparation Market encompasses a crucial sector within the healthcare industry, focusing on the development and distribution of various blood-related products. These products range from blood components like plasma, platelets, and red blood cells to sophisticated blood derivatives and therapeutic proteins. The market’s primary objective is to meet the increasing demand for safe and efficient blood-related products, addressing both medical treatments and research applications.

Drivers:

Several factors drive the growth of the Blood Preparation Market. First and foremost is the rising prevalence of blood disorders and chronic diseases that necessitate blood transfusions and related treatments. Advancements in medical technologies and the increasing awareness regarding the benefits of blood preparation products also play a pivotal role. Additionally, the growing aging population contributes to the market’s expansion, as elderly individuals often require blood-related interventions for various health conditions. Furthermore, continuous research and development activities aimed at enhancing the safety and efficacy of blood products further stimulate market growth.

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Blood Preparation Market Scope

Report Coverage	Details
Growth Rate from 2023 to 2032	CAGR of 6%
Market Size in 2023	USD 48.53 Billion
Market Size by 2032	USD 81.99 Billion
Largest Market	North America
Base Year	2022
Forecast Period	2023 to 2032
Segments Covered	By Product, By Antithrombotic and Anticoagulants Type, By Application, and By End User
Regions Covered	North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa

Region Snapshot

The Blood Preparation Market exhibits regional variations influenced by factors such as healthcare infrastructure, regulatory frameworks, and demographic trends. North America, with its well-established healthcare system and high awareness levels, stands as a significant player in the market. Europe follows closely, driven by advancements in medical research and a robust regulatory environment. The Asia-Pacific region showcases substantial growth potential, propelled by increasing healthcare investments, a large patient pool, and evolving healthcare infrastructure. Emerging economies in Latin America and Africa contribute to the global market as they strive to improve healthcare accessibility and address blood-related disorders.

By Product:

The Blood Preparation Market encompasses a range of products, including blood components such as red blood cells, plasma, platelets, and cryoprecipitate. Additionally, blood derivatives like albumin, immunoglobulins, and clotting factor concentrates contribute significantly to this market. These products play a vital role in various medical procedures, transfusions, and therapies.

By Antithrombotic and Anticoagulants Type:

Antithrombotic and anticoagulant medications are crucial components of the Blood Preparation Market. This segment includes a diverse array of drugs designed to prevent and treat blood clots. Common types involve antiplatelet agents like aspirin, anticoagulants such as warfarin and heparin, and novel oral anticoagulants like rivaroxaban and apixaban.

By Application:

The applications of blood preparation products are widespread, ranging from surgical procedures to chronic disease management. Surgical applications often involve the use of clotting factor concentrates and blood components, while chronic conditions like hemophilia require continuous treatment with specific blood derivatives. Furthermore, blood preparation products find application in emergency medicine, trauma care, and oncology.

By End User:

End users in the Blood Preparation Market span a spectrum of healthcare providers and institutions. Hospitals and clinics are primary consumers, utilizing blood preparation products for a variety of medical interventions. Blood banks play a pivotal role in collecting, processing, and distributing blood components. Additionally, home care settings are becoming increasingly relevant for certain blood preparation products, enabling patients to manage their conditions outside traditional healthcare facilities.

Recent Developments

In May 2023, with $50 million from the New York Blood Center, NYBC Ventures was unveiled as one of the first venture funds focusing exclusively on advancing new blood and cell-based therapies. Thus, increasing funds for new blood and cell-based therapies is expected to contribute to the promising growth of the blood preparation market.
In February 2023, Terumo Blood and Cell Technologies announced the FDA clearance and official launch of its IMUGARD® WB Platelet Pooling Set. This new platelet pooling set supports extended shelf life of whole blood-derived platelets from 5 to 7 days. IMUGARD is the first platelet pooling set approved for 7-day storage in the United States.
In November 2022, the RESTORE clinical trial (REcovery and survival of STem cell Originated REd cells) was initiated by the NIHR Blood and Transplant Research Unit. Researchers stated that if this clinical trial of lab-grown red blood cells is proven effective and safe, it can revolutionize treatments for people with rare blood types.

Blood Preparation Market Players

AstraZeneca plc
Baxter International Inc
Bristol-Myers Squibb Company
Celgene Corp.
GlaxoSmithKline PLC
Leo Pharma A/S
Pfizer, Inc.
Portola Pharmaceuticals, Inc.
Sanofi
Shandong East Chemical Industry Co.
Xiamen Hisunny Chemical Co., LTD

Segments Covered in the Report

By Product

Whole blood
- Granulocytes
- Red blood cells
- Plasma
- Platelets
Blood components
- Leukocyte reduced red blood cells
- Packed red blood cells
- Frozen plasma
- Platelet concentrates
- Cryoprecipitate
Blood derivatives

By Antithrombotic and Anticoagulants Type

Platelet aggregation inhibitors
- Glycoprotein inhibitors
- ADP antagonists
- COX inhibitors
- Others
Fibrinolytics
- Streptokinase
- Tissue plasminogen activator (tPA)
- Urokinase
Anticoagulants
- Heparins
  - Low molecular weight heparin (LMWH)
  - Unfractionated heparin
  - Ultra-low molecular weight heparin
- Direct thrombin inhibitors
- Vitamin K antagonists
- Direct factor Xa inhibitors