The blood market accounted for $7,201 million in 2020, and is expected to reach $10,253 million by 2027, registering a CAGR of 4.5% from 2020 to 2027.
Blood is vital for life and is required for normal functioning of the human body. Furthermore, bone marrow is responsible for the production of blood cells in the body. However, various medical conditions can lead to altered level of blood, which can be fatal for a patient. For instance, medical conditions such as chronic kidney diseases, cancer, and hemophilia B require blood transfusions for treatment. Moreover, in event of a trauma, which causes injury to a patient, blood transfusion is might be required for treatment based on the nature of the injury. Similarly, surgeries can also lead to major blood loss leading to the need for blood transfusions. Furthermore, plasma is a major content of blood and low level of plasma in the body can hamper normal functioning. Thus, patients who suffer from medical conditions such as liver diseases lead to lower plasma level requiring plasma transfusions. Thus, collection of blood is a necessary task and requires the use of reagents and blood collection systems. Moreover, the collected blood is subjected to screening, which further requires use of systems and reagents. This collected and screened blood is then circulated to various end users such as blood and blood component banks, diagnostic laboratories, ambulatory surgical centers, and hospitals.
Growth of the blood market is driven by factors such as A surge in demand for blood and plasma across the globe and a rise in geriatric population worldwide. In addition, an increase in blood and plasma donations across the globe and favorable government regulations for blood screening are some other factors that boost the growth of the market.
Furthermore, advancements in blood transfusion and blood screening instruments is another major factor that drives growth of the blood market. However, factors such as high cost of advanced blood collection devices and lack of skilled laboratory professionals hinder the growth of the market. Conversely, developing economies offer lucrative growth opportunities for the market growth.
The blood market is segmented into product, end user, and region. On the basis of product, it is classified into whole blood collection and processing, source plasma collection, blood typing products, and blood screening products. Furthermore, all these segments are further classified into sub-segments. For instance, the whole blood collection segment is classified into whole blood collection systems and whole blood collection consumables. The source plasma collection segment is classified into source plasma collection systems and source plasma collection consumables. In addition, the blood typing products are further bifurcated into blood typing systems, blood typing reagents. The blood screening products are divided into blood screening systems, and blood screening reagents.
On the basis of end user, the market is divided into blood and blood component bank, diagnostic laboratories, ambulatory surgical centers, hospitals, and others. Region wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and rest of Europe), Asia-Pacific (Japan, China, Australia, India, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, and rest of LAMEA).
Comprehensive competitive analysis and profiles of major market players such as Abbott Laboratories, Bio-Rad Laboratories, Inc., CSL Limited (CSL Behring), F. Hoffmann-La Roche Ltd., Grifols International SA, Haemonetics Corporation, Merck & Co., Inc., Novo Nordisk A/S, Ortho Clinical Diagnostics, and Terumo Corporation (Terumo BCT, Inc.) are provided in this report.
KEY BENEFITS FOR STAKEHOLDERS
KEY MARKET SEGMENTS
By Product
By End User
By Region
LIST OF OTHER PLAYERS IN THE VALUE CHAIN (These players are not profiled in the report. The same will be included on request)
Growth of the blood market is driven by factors such as A surge in demand for blood and plasma across the globe and a rise in geriatric population worldwide. In addition, an increase in blood and plasma donations across the globe and favorable government regulations for blood screening are some other factors that boost the growth of the market.
Furthermore, advancements in blood transfusion and blood screening instruments is another major factor that drives growth of the blood market. However, factors such as high cost of advanced blood collection devices and lack of skilled laboratory professionals hinder the growth of the market. Conversely, developing economies offer lucrative growth opportunities for the market growth.
The blood market is segmented into product, end user, and region. On the basis of product, it is classified into whole blood collection and processing, source plasma collection, blood typing products, and blood screening products. Furthermore, all these segments are further classified into sub-segments. For instance, the whole blood collection segment is classified into whole blood collection systems and whole blood collection consumables. The source plasma collection segment is classified into source plasma collection systems and source plasma collection consumables. In addition, the blood typing products are further bifurcated into blood typing systems, blood typing reagents. The blood screening products are divided into blood screening systems, and blood screening reagents.
On the basis of end user, the market is divided into blood and blood component bank, diagnostic laboratories, ambulatory surgical centers, hospitals, and others. Region wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and rest of Europe), Asia-Pacific (Japan, China, Australia, India, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, and rest of LAMEA).
Comprehensive competitive analysis and profiles of major market players such as Abbott Laboratories, Bio-Rad Laboratories, Inc., CSL Limited (CSL Behring), F. Hoffmann-La Roche Ltd., Grifols International SA, Haemonetics Corporation, Merck & Co., Inc., Novo Nordisk A/S, Ortho Clinical Diagnostics, and Terumo Corporation (Terumo BCT, Inc.) are provided in this report.
KEY BENEFITS FOR STAKEHOLDERS
- This report entails a detailed quantitative analysis along with the current global blood market trends from 2019 to 2027 to identify the prevailing opportunities along with the strategic assessments.
- The market size and estimations are based on a comprehensive analysis of key developments in the industry.
- A qualitative analysis based on innovative products facilitates strategic business planning.
- The development strategies adopted by the key market players are enlisted to understand the competitive scenario of the market
KEY MARKET SEGMENTS
By Product
- Whole Blood Collection and Processing
- Whole Blood Collection Systems
- Whole Blood Collection Consumables
- Source Plasma Collection
- Source Plasma Collection Systems
- Source Plasma Collection Consumables
- Blood Typing Products
- Blood Typing Systems
- Blood Typing Reagents
- Blood Screening Products
- Blood Screening Systems
- Blood Screening Reagents
By End User
- Blood & Blood Component Bank
- Diagnostic Laboratories
- Ambulatory Surgical Centers
- Blood And Blood Component Bank
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Rest of Europe
- Asia-Pacific
- Japan
- China
- India
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Saudi Arabia
- South Africa
- Rest of LAMEA
- List of key players profiled in the report:
- Abbott Laboratories
- Bio-Rad Laboratories, Inc.
- CSL Limited (CSL Behring).
- F. Hoffmann-La Roche Ltd.
- Grifols International SA
- Haemonetics Corporation
- Merck & Co., Inc.
- Novo Nordisk A/S
- Ortho Clinical Diagnostics
- Terumo Corporation (Terumo BCT, Inc.)
LIST OF OTHER PLAYERS IN THE VALUE CHAIN (These players are not profiled in the report. The same will be included on request)
- Fresenius Kabi
- Qiagen N.V.
Table of Contents
Chapter 1: Introduction
Chapter 2: Executive Summary
Chapter 3: Market Overview
Chapter 4: Blood Market, by Product
Chapter 5: Blood Market, by End-user
Chapter 6: Blood Market, by Region
Chapter 7: Company Profiles
Executive Summary
According to the report titled, 'Blood Market by Product Type and End User: Opportunity Analysis and Industry Forecast, 2019-2026', the global blood market was valued at $7 billion in 2019, and is expected to reach $10 billion by 2027, registering a CAGR of 4.5% from 2019 to 2027.Blood is defined as the transport medium of the body responsible for carrying oxygen and nutrients to cells. Furthermore, blood is pumped by heart to all body parts, which is returned back to the heart by organs to complete the cycle. Hence, blood is vital for the human body as it is required for proper functioning of organs. However, various conditions such as traumatic injury and surgical procedures can lead to loss of blood form the body. In addition, certain medical conditions such as cancer, hemophilia, and kidney diseases also lead to lowering of blood cells in the body. Thus, these conditions require infusion of whole blood and other blood components to manage conditions in patients. Moreover, whole blood used in the treatment is collected through donations using blood collection systems and consumables. Similarly, plasma is collected using plasma collection systems and consumables. Furthermore, collected blood is subjected to other necessary procedures such as blood typing, which involves determining the blood type of the donated blood by using blood typing systems and reagents. In addition, blood is also subjected to screening to check the presence of infection markers.
Surge in demand for blood and plasma across the globe and rise in geriatric population worldwide are the major factors that boost market growth. In addition, other factors such as increase in blood and plasma donations across the globe and favorable government regulations for blood screening. Furthermore, advancements in blood transfusion and blood screening instruments is another major factor that drives the growth of the blood market.
However, factors such as high cost of advanced blood collection devices and lack of skilled laboratory professionals hinder the growth of the market. Conversely, developing economies offer lucrative growth opportunities for market growth.
The blood market is segmented into product, end user, and region. On the basis of product, it is classified into whole blood collection and processing, source plasma collection, blood typing products, and blood screening products. Furthermore, all these segments are further classified into sub-segments. For instance, the whole blood collection segment is classified into whole blood collection systems and whole blood collection consumables. The source plasma collection segment is classified into source plasma collection systems and source plasma collection consumables. In addition, the blood typing products are further bifurcated into blood typing systems, and blood typing reagents. The blood screening products are divided into blood screening systems and blood screening reagents.
On the basis of end user, it is divided into blood and blood component bank, diagnostic laboratories, ambulatory surgical centers, hospitals, and others. Furthermore, region wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and rest of Europe), Asia-Pacific (Japan, China, Australia, India, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, and rest of LAMEA).
On the basis of product, the whole blood collection and processing segment acquired the major share of the market in 2019. Rise in demand for whole blood across the globe and surge in number of whole blood collection centers propel the growth of this segment. Furthermore, factors such as rise in number of blood banks also contribute to the growth of the market.
In addition, the source plasma collection segment is expected to exhibit fastest growth rate during the forecast period, owing to surge in demand for plasma and rise in prevalence of chronic diseases, which require use of plasma for treatment such as chronic kidney diseases and liver diseases.
On the basis of end user, the blood and blood component bank acquired major share in the market, owing to surge in number of blood banks across the globe.
On the basis of region, North America occupied the largest share of the blood market in 2020, and is expected to maintain a dominant position during the forecast period, owing to factors such as easy availability of systems, reagents, and consumables used in whole blood collecting, processing, typing, and screening. Furthermore, other factors such as rise in awareness related to use of these products and presence of large number of blood collection and plasma collection centers also contribute to the growth of the market. Moreover, presence of large number of key players in North America is another major factor that drives the growth of the market. Furthermore, Asia- Pacific is expected to register fastest growth rate during the forecast period, owing to surge in healthcare expenditure and increase in awareness related to blood and plasma donation. Other factors that boost the growth of the market include huge patient base of various chronic diseases such as metabolic diseases, and cancer, which require use of whole blood and plasma contribute to the growth of the blood market in Asia-Pacific.
Key Findings of the Study:
By product, the whole blood collection and processing segment occupied more than half of the share of global blood market in 2020.
By end user, the blood and blood component bank segment is anticipated to grow with the highest CAGR throughout the forecast period.
By product, the source plasma collection segment is expected to grow with the highest CAGR during the forecast period.
By region, Asia-Pacific is anticipated to grow at the highest rate during the analysis period.
Companies Mentioned
- Abbott Laboratories
- Bio-Rad Laboratories Inc.
- CSL Limited (CSL Behring)
- F. Hoffmann-La Roche Ltd.
- Grifols International SA
- Haemonetics Corporation
- Merck & Co. Inc.
- Novo Nordisk A/S
- Ortho Clinical Diagnostics
- Terumo Corporation (Terumo BCT Inc.)
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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