Blood and Blood Components Market Size By Product (Whole Blood, Blood Components {Red Blood Cells, Platelets, Plasma, White Blood Cells}, By Application (Anemia, Trauma & Surgery, Cancer Treatment, Bleeding Disorders), By End-Use (Hospitals, Ambulatory Surgical Centers) Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2018 – 2024

Published Date: Dec 2018  |  Report ID: GMI3067

Report Format: PDF   |   Pages: 150   |   Base Year: 2017




Summary Table of Contents Industry Coverage Methodology

Industry Trends

Blood and Blood Components Market size was valued at USD 32.9 billion in 2017 and is expected to witness around 4.0% CAGR from 2018 to 2024.
 

U.S. Blood and Blood Components Market, By Application, 2017 & 2024 (USD Mn)

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Increasing pervasiveness of chronic diseases such as cancer, liver disease among others will stimulate the market growth in forthcoming years. As per WHO, nearly 9.6 million people died due to cancer globally in 2018. Patients are required to be supplied with red blood cells to compensate the blood loss, during surgical procedures. This will lead to rise in demand for blood and blood components in the upcoming period.
 

Rising number of road accidents and injuries should impel the demand for blood transfusion in forthcoming years. Patients that are injured during accidents or trauma cases often face with haemorrhage issues. Thus, transfusion of blood, especially red blood cells is required to restore the lost blood volume. Hence, requirement of massive blood transfusion in trauma patients coupled with growing incidents of injuries will stimulate global blood and blood components business growth over the coming years.
 

Blood and Blood Components Market Report Coverage
Report Coverage Details
Base Year: 2017 Market Size in 2017: 32.9 Billion (USD)
Historical Data for: 2013 to 2017 Forecast Period: 2018 to 2024
Forecast Period 2018 to 2024 CAGR: 4% 2024 Value Projection: 43.5 Billion (USD)
Pages: 150 Tables, Charts & Figures: 244
Geographies covered (18): U.S., Canada, UK, Germany, France, Spain, Italy, Russia, China, India, Japan, Australia, Brazil, Mexico, Argentina, South Africa, Saudi Arabia, UAE
Segments covered: Product, End-Use and Region
Companies covered (11): American Association of Blood Banks, American Red Cross, Australian Red Cross, AVIS National, Carter BloodCare, Indian Red Cross, National Blood Authority Australia, OneBlood, South African National Blood Service, Versiti, Vitalant
Growth Drivers:
  • Growing worldwide prevalence of chronic and infectious diseases
  • Increasing number of trauma cases
  • Expanding geriatric population coupled with growing applications of blood derivatives
  • Rising awareness regarding blood donations in developing countries
Pitfalls & Challenges:
  • Risk of transmission of infections

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Blood and Blood Components Market, By Product

Whole blood product segment accounted for more than 80% revenue share in 2017 and is estimated to grow robustly over the forecast timeframe. Booming number of trauma cases along with growing geriatric population across the world will impel segmental growth. As per Population Reference Bureau, U.S. population aged 65 years is estimated to double till 2060. Additionally, expanding blood donation drives across the globe will surge whole blood product segment in upcoming period.
 

Blood components product segment will grow at 6.3% CAGR during the projected period. Increasing applications of blood derivatives such as platelets and plasma should drive blood components product segment growth. Platelet rich plasma is used for wound healing, cosmetic procedures and for diminishing signs of aging. Additionally, platelet transfusion is significantly conducted for restoring platelet count in rising number of dengue patients. Such factors will drive blood components segment during the projected period.

Australia Blood and Blood Components Market Size, By Product, 2017 (USD Million)
Australia Blood and Blood Components Market Size, By Product, 2017 (USD Million)

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Blood and Blood Components Market, By Application

Trauma & surgery application segment held USD 13.2 billion market size in 2017. Trauma patients usually suffer from massive blood loss wherein healthcare professionals need to follow massive transfusion protocol. The protocol requires immediate transfusion of blood or blood components. With increasing trauma cases coupled with rising surgeries across the globe, demand for blood and blood components will considerably expand over the forecast years.      
 

Cancer treatment application segment is forecasted to progress at 4.7% CAGR over the upcoming period. Accelerating incidence of cancer across the globe is anticipated to drive the demand for blood and blood components. Chemotherapy drugs considerably falter patient’s immunity. In addition, blood loss during surgery as well as patients suffering from leukaemia may require blood transfusion. Thus, cancer treatment segment will remarkably progress over the upcoming years.
 

Blood and Blood Components Market, By End-use

Hospitals end-use segment accounted for USD 21.2 billion in 2017 and is estimated to grow at a fast pace. Rising hospital admissions for surgical procedures, cancer treatments as well as growing patient number at hospital trauma centers will spur segmental share. Admitted patients are susceptible to suffer from blood loss during major surgeries, require large quantity of blood and its components. In addition, availability of proper transfusion procedures along with sophisticated infrastructure will impel hospital end-use segment over the projected period.   
 

Ambulatory surgical centers (ASCs) end-use segment will grow at significant pace of 4.9% over the forecast timeframe. Ambulatory surgical centers are witnessing increasing demand for surgeries owing to low cost, reimbursement as well as shorter procedural time. Thus, expanding number of ASCs coupled with accelerating number of cosmetic surgeries, CVD procedures and cancer patients will augment ASC end-use segment in the coming period.
 

Blood and Blood Components Market, By Region

U.S. market accounted for over 90% of North America blood and blood components market in 2017. High growth can be attributed to considerable awareness coupled with rising demand for cosmetic procedures in the country. Use of platelet-rich-plasma for facial cosmetic procedures is becoming a trending therapy across clinical settings in the nation that will surge the demand for blood components and its products. In addition, growing incidences of chronic diseases will further boost demand for blood and blood components in the forthcoming years.
 

India blood and blood components market is estimated to foresee 5.6% CAGR over the forecast timeframe. Growing awareness among the Indian population will act as high impacting factor for blood and blood components market growth. Increasing number of voluntary donations should augment blood and blood components business size. As per WHO, the rapid rise in voluntary unpaid donations in the South-East Asian region were majorly contributed by India. Aforementioned factors will aid Indian blood and blood components market growth in upcoming years.

 

Europe Blood and Blood Components Market Size, By Country, 2024 (USD Million)
Europe Blood and Blood Components Market Size, By Country, 2024 (USD Million)

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Competitive Market Share

Major organizations operating in blood and blood components industry include American Red Cross, Australian Red Cross Blood Service, Blood Centers of America and German Red Cross among other players. Players are adopting partnerships, collaborations and undertaking donation and awareness initiatives to expand their customer reach. For instance, in December 2018, the American Red Cross collaborated with HealthStream, aimed at introducing new program for healthcare organizations.
 

Blood and Blood Components Industry Background  

The blood collection process can be traced back to 1940s when the U.S. government first established national blood collection program. In 1940, the process of breaking down blood into its components as well as making blood products was initiated wherein fibrinogen, albumin and gamma globulin were made available for clinical use. Thereafter, use of plasma for war victims was adopted in following years. In 1941, the Red Cross began National Blood Donor Service blood collection for the U.S. military after which utilization of dried plasma for wound healing surged. The blood collection commercialisation was followed by introduction of blood bags as well as collaboration of numerous blood banks across the U.S. The blood collection industry flourished and is continuing to grow as a result of high demand for blood and blood components as well as high awareness among importance of blood donation. Thus, robust rate of surgical procedures, large geriatric patient pool as well as increasing applications of blood components will further influence blood and blood components industry size in the foreseeable future.
 


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