Global Blood Preparation Market to Reach US$ 64.9 Billion by 2032, Impelled by Increasing Demand for Blood Transfusion

According to the latest report by IMARC Group, titled “Blood Preparation Market Report by Product (Whole Blood, Blood Components, Blood Derivatives), Antithrombotic and Anticoagulants Type (Platelet Aggregation Inhibitors, Fibrinolytics, Anticoagulants), Antithrombotic and Anticoagulants Application (Thrombocytosis, Pulmonary Embolism, Renal Impairment, Angina Blood Vessel Complications, and Others), and Region 2024-2032," the global blood preparation market reached a value of US$ 44.4 Billion in 2023. Blood preparation refers to the process of separating components from one unit of whole blood using the centrifugation technique. Red blood cells (RBCs), platelets, fresh frozen plasma (FFP), cryoprecipitated anti-hemophilic factor (AHF), and granulocytes are some of the components separated using the process. Blood preparation is carried out for transfusion, component therapy, and manufacturing pharmaceuticals. It maximizes the utility of one whole blood unit, increases the therapeutic efficacy of components, and benefits multiple patients simultaneously. Blood preparation also involves the modification of components using irradiation, leukoreduction, and pathogen inactivation to improve the quality during storage and reduce adverse effects, such as allergic reactions.

Global Blood Preparation Market Trends:

The increasing demand for blood transfusion due to the rising prevalence of blood disorders, such as anemia, hemophilia, leukocytosis, sickle cell disease, and cancer, is one of the key factors driving the market growth. In addition, the rising adoption of blood transfusion during surgical procedures, accidents, and injuries due to extreme blood loss is acting as another growth-inducing factor. Furthermore, the COVID-19 pandemic surged the demand for convalescent plasma as a potential treatment for critical patients, which is providing a considerable boost to the market growth. Additionally, the integration of automation technologies to improve blood processing, minimize errors, and increase efficiency by eliminating repetitive tasks, such as weighing, balancing, centrifugation, expression, and sealing, is creating a positive outlook for the market. Moreover, increasing initiatives by several governments to develop plasma-derived proteins, such as immunoglobulins, coagulation factor products, human fibrin foam, dried human plasma, and human thrombin, are providing an impetus to market growth. Other factors, including increasing demand for blood component therapy, significant growth in the pharmaceutical industry, and rapid development of healthcare infrastructure, are anticipated to drive the market growth. On account of the aforementioned factors, the market value is expected to reach US$ 64.9 Billion by 2032, exhibiting a CAGR of 4.2% during 2024-2032.

Market Summary:

• On the basis of the product, the market has been divided into whole blood (red cells, granulocytes, plasma, and platelets), blood components (whole blood components, packed red cells, leukocyte reduced red blood cells, frozen plasma, platelet concentrate, and cryoprecipitate), and blood derivatives.
• Based on the antithrombotic and anticoagulants type, the market has been categorized into platelet aggregation inhibitors (glycoprotein inhibitors, COX inhibitors, ADP antagonists, and others), fibrinolytics (tissue plasminogen activator (TPA), streptokinase, and urokinase), and anticoagulants (heparins, vitamin K antagonists, direct thrombin inhibitors, and direct factor Xa inhibitors).
• On the basis of antithrombotic and anticoagulants application, the market has been classified into thrombocytosis, pulmonary embolism, renal impairment, angina blood vessel complications, and others.
• On a regional basis, the market has been categorized into North America (the United States and Canada), Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, and Others), Europe (Germany, France, United Kingdom, Italy, Spain, Russia, and Others) Latin America (Brazil, Mexico, and Others), and Middle East and Africa.
• The competitive landscape of the industry has also been examined, with some of the key players being Baxter International Inc., Boehringer Ingelheim International GmbH, Bristol-Myers Squibb Company, Daiichi Sankyo Company Limited, GlaxoSmithKline PLC, Johnson & Johnson Services Inc., LEO Pharma A/S, Pfizer Inc., Portola Pharmaceuticals Inc. (Alexion Pharmaceuticals Inc.) and Sanofi S.A.
   

Report Scope:

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