Blood Platelet Market Size By Application (Hemophilia, Thrombocytopenia, Perioperative Indications, Platelet Function Disorders), By End-use (Hospitals, Ambulatory Surgical Centers), Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2020 – 2026

Industry Trends

Blood Platelet Market size valued at USD 4.2 billion in 2019 and is poised to grow at over 3% CAGR between 2020 and 2026. Increasing rate of blood transfusions for chronic blood conditions and surgeries has resulted in an increased demand for blood platelets.
 

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Rise in awareness pertaining to blood donations, platelets transfusions and available treatment options are some of the major factors uplifting the market growth. Favorable reimbursement policies in developed countries and industry-academia collaborations are also contributing to the blood platelet market revenue. Furthermore, growing technological advancements in platelets aggregation devices is fostering the market growth positively.
 

The ongoing COVID-19 pandemic is an unprecedented public health concern and has substantially increased the demand for blood and platelets donations. Patients suffering with COVID-19 disease are likely to suffer from thrombocytopenia and require blood platelet transfusion. This factor has significantly augmented the blood platelet market demand during the ongoing pandemic. Additionally, several government and non-government organizations across the globe have urged the donors to donate blood for resuming the surgical procedures and therapeutic treatments of critically ill COVID-19 patients.
 

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Increasing prevalence of chronic and blood-related disorders

Growing prevalence of chronic and blood-related disorders will drive the blood platelet market expansion. According to a recently published study, approximately 844 million people suffer from chronic liver disease (CLD) globally and the number is projected to increase over the coming years. Myelofibrosis, a chronic disorder, predominantly affects middle-aged and elderly population and with increase in geriatric population the prevalence of myelofibrosis is increasing. Patients suffering with chronic disorders such as liver disorders and myelofibrosis require platelet transfusions due to associated risk of platelet depletion. Therefore, the growing prevalence of such diseases is augmenting the demand for platelets donations and platelet transfusions.
 

Prophylactic transfusion of blood platelets is performed in patients suffering from cancer disorders to prevent bleeding. Additionally, platelet transfusions are done in clinical practice to prevent and treat haemorrhage in patients suffering from blood-related disorders such as Bernard-Soulier syndrome (BSS), thrombocytopenia, haemophilia and severe platelet dysfunction disorders. Thus, leading to an increased need to donate blood components, including platelets.
 

Growing prevalence of thrombocytopenia disorder will stimulate the market growth

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Thrombocytopenia segment revenue in the blood platelet market crossed USD 1,176 million in 2019 owing to the increasing number of thrombocytopenia cases across the globe. According to the National Organization for Rare Diseases (NORD), approximately, more than 200,000 people suffer from immune thrombocytopenia, worldwide. In addition, according to the NORD, the incidence of immune thrombocytopenia (ITP) increases with age and is more common over 60 years of age population. The platelet count must be maintained at a specific range to overcome thrombocytopenia, boosting the demand for blood platelet donations and infusion therapies.
 

Few cancer disorders such as acute myelocytic leukaemia, chronic myelogenous leukaemia and lymphomas are associated with thrombocytopenia due to decrease in count of megakaryocytes. Moreover, patients suffering from systemic autoimmune disorders and hypersplenism have associated thrombocytopenia and require urgent platelet transfusion for treatment, resulting in an augmented demand for platelets. Furthermore, incidences of bleeding disorders and pathological conditions leading to thrombocytopenia are fueling the blood platelet market demand.
 

Increased number of hospital admissions will enhance the blood platelet market size

Hospitals segment in 2019 exceeded a valuation of more than USD 3,347 million due to the availability of skilled technicians, improved healthcare infrastructure, and high accessibility and affordability of hospitals in conducting testing procedures. Increase in number of admissions of patients in hospitals suffering from cancer disorders, hemophilia and other severe platelet disorders is also contributing to the blood platelet market growth.
 

Additionally, higher availability of blood components in hospitals results in an increased utilization of blood platelets, resulting in an increased adoption. Increase in number of surgeries and severe injuries requiring blood transfusions are further impelling the demand for blood platelets in hospitals. Furthermore, fair reimbursement policies for blood transfusion procedures result in an increased demand for blood platelets by the hospitals.
 

Increasing healthcare expenditure in North America will boost the regional market expansion

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U.S. dominated the North America blood platelet market with a revenue share of more than 90% in 2019 led by the large patient population and well-developed healthcare infrastructure in the country. The continuous rise in number of COVID-19 patients in the country has also created a substantial demand for blood platelets. This is owing to the factor that COVID-19 disease is associated with thrombocytopenia.
 

Factors such as increasing prevalence of urological, orthopedics and bleeding disorders along with patients undergoing cardiovascular surgeries are fostering the North American market demand. Growing incidences of neurological conditions requiring surgery along with blood transfusion are also augmenting the demand for platelets. Moreover, several reimbursement policies provided by the Medicare along with strong presence of non-profit organizations in the region engaged in conducting blood donation drives will lead to an increased adoption of blood transfusion procedures.
 

Germany blood platelet market size was over USD 133 million in 2019 owing to increasing awareness regarding blood donations and increasing incidences chronic disorders in the country. According to a recently published article, approximately 14,000 blood donations are required in the country per day for blood transfusions. Therefore, the German Red Cross Blood Transfusion Services, state and communal blood transfusion services and commercial blood centers are actively involved in organizing blood donation campaigns along with platelets supply. Moreover, according to a recently published study by the National Center for Biotechnology Information (NCBI), prevalence of chronic diseases is high in elderly population in the country, augmenting the adoption of blood platelets.
 

Several strategic initiatives implemented by major industry players

Some of the major players operating in the blood platelet market are The American National Red Cross, America’s Blood Centers, American Association of Blood Banks (AABB), Blood Centers of America, Brazilian Red Cross, Canadian Blood Services, European Blood Alliance (EBA) and OneBlood among others.
 

These companies are engaged in organizing blood donation drives, campaigns and blood supply services in order to meet the demand for blood and blood components by hospitals and surgery centers. The organizations are focusing on expanding their blood platelet collection and provision of different types of platelets in order to enhance their products and services portfolio along with the geographical reach.
 

Recent industry developments:

• In October 2020, the American National Red Cross announced opening of new blood donation center in Conyers, Georgia to collect blood and platelets. The strategic move will assist the organization to expand collection of blood and its component and attract more donors.
   
• In August 2020, the Blood Centers of America (BCA) announced that LifeShare Blood Center received FDA Licensure approval for Apheresis Platelets stored in InterSol Platelet Additive Solution (PAS). The approval will assist BCA in expanding their distribution of apheresis platelets containing PAS outside Louisiana.
   

The blood platelet market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2015 to 2026, for the following segments:
 

Market, By Application

• Hemophilia
• Thrombocytopenia
• Perioperative Indications
• Platelet Function Disorders
• Others

Market, By End-Use

• Hospitals
• Ambulatory Surgical Centers
• Others

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • UK
  • Germany
  • France
  • Spain
  • Italy
  • Russia
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • Singapore
• Latin America
  • Brazil
  • Mexico
  • Argentina
• Middle East & Africa
  • South Africa
  • Saudi Arabia
  • UAE