Blood and Blood Components Market Size & Share, By Product (Whole Blood, Blood Components), End-use (Hospitals, Ambulatory Surgical Centers), Application (Anemia, Trauma & Surgery, Cancer Treatment, Bleeding Disorders,), Regional Forecast, Industry Players, Growth Statistics Report 2024-2032

Market Outlook:

Blood and Blood Components Market crossed USD 13.28 Billion in 2023 and is estimated to reach USD 18.1 Billion by end of the year 2032, growing at over 3.5% CAGR between 2024 and 2032.

• Base Year Value (2023): USD 13.28 Billion
• CAGR (2024-2032): 3.5%
• Forecast Year Value (2032): USD 18.1 Billion
• Historical Data Period: 2019-2023
• Largest Region: Europe
• Forecast Period: 2024-2032

Market Dynamics:

Growth Drivers & Opportunity:

The increasing number of surgical procedures and trauma cases is driving the growth of the blood and blood components market. The demand for blood transfusions is rising as a result of the growing prevalence of chronic diseases and the need for blood during surgeries. Additionally, the increasing geriatric population is contributing to the growth of the market, as older individuals are more likely to require blood transfusions due to age-related health issues.

Another major growth driver for the blood and blood components market is the advancements in blood collection and processing technologies. Technological innovations have led to improved efficiency in blood donation and processing, resulting in an increased supply of blood and blood components. This has helped meet the growing demand for blood products and has facilitated better patient care in various medical settings.

The rising awareness about blood donation and the importance of maintaining an adequate blood supply is also driving the growth of the market. Campaigns and initiatives aimed at encouraging blood donation have led to an increase in blood donations worldwide. This has helped ensure a steady supply of blood and blood components for medical treatments and emergencies, further fueling the growth of the market.

Report Scope

Report Coverage	Details
Segments Covered	Product, End-use, Application
Regions Covered	• North America (United States, Canada, Mexico) • Europe (Germany, United Kingdom, France, Italy, Spain, Rest of Europe) • Asia Pacific (China, Japan, South Korea, Singapore, India, Australia, Rest of APAC) • Latin America (Argentina, Brazil, Rest of South America) • Middle East & Africa (GCC, South Africa, Rest of MEA)
Company Profiled	European Blood Alliance, Australian Red Cross, Indian Red Cross, American Association of Blood Banks, South African National Blood Service, .

Industry Restraints:

A critical barrier in the blood and blood components market is the stringent regulatory requirements governing blood collection and processing. Compliance with regulations and standards set by regulatory authorities can be challenging for blood collection and processing facilities, leading to delays and higher costs. This can hinder the growth of the market and impact the availability of blood products for patients in need.

Moreover, a significant challenge in the blood and blood components market is the risk of transmission of infectious diseases through blood transfusions. Despite stringent screening and testing procedures, there is always a risk of transmitting infections through blood products. This can create concerns among patients and healthcare providers, impacting the demand for blood transfusions and limiting the growth potential of the market.

Regional Forecast:

North America dominates the blood and blood components market with the U.S. being the largest contributor. The presence of advanced healthcare infrastructure and increasing prevalence of chronic diseases are driving the market growth in this region. Canada is also witnessing significant growth due to the rising demand for blood products in the country.

In Asia Pacific, China is the largest market for blood and blood components due to the increasing geriatric population and rising awareness about blood transfusion. Japan and South Korea are also witnessing steady growth in the market driven by advancements in healthcare technology and increasing government initiatives for blood donation.

Europe, particularly the United Kingdom, Germany, and France, is experiencing significant growth in the blood and blood components market. The presence of well-established healthcare systems and increasing investments in research and development are driving the market growth in these countries. The growing prevalence of blood disorders and the rising demand for blood transfusion are also contributing to the market growth in Europe.

Segmentation Analysis:

In terms of segmentation, the global Blood and Blood Components market is analyzed on the basis of Product, End-use, Application.

Whole Blood

The whole blood segment of the blood and blood components market is expected to witness steady growth, driven by the increasing demand for whole blood transfusions in surgeries, trauma cases, and other medical emergencies. Hospitals and ambulatory surgical centers are the key end-users for whole blood products, as they require a readily available supply for their patients.

Blood Components

The blood components segment of the market size is anticipated to experience significant growth, as it allows for a more targeted and efficient treatment approach compared to whole blood transfusions. Different blood components such as red blood cells, platelets, and plasma are used for various medical conditions including anemia, bleeding disorders, and cancer treatment.

Hospitals

Hospitals are the primary end-users of blood and blood components, accounting for the largest market share. The demand for blood products in hospitals is driven by the high volume of surgeries, trauma cases, and patients with chronic conditions that require regular transfusions. The availability of a safe and reliable blood supply is crucial for hospitals to provide quality healthcare services to their patients.

Ambulatory Surgical Centers

Ambulatory surgical centers are expected to be a growing market for blood and blood components, as more surgical procedures are being performed in outpatient settings. These centers require a reliable supply of blood products to ensure the safety and success of their procedures. The convenience and cost-effectiveness of ambulatory surgical centers make them an attractive option for patients, further driving the demand for blood components in these facilities.

Application

The application of blood and blood components in various medical conditions such as anemia, trauma & surgery, cancer treatment, bleeding disorders, and others is a key driver for the market growth. Advancements in medical technology and procedures have increased the need for blood transfusions for patients undergoing surgeries, cancer treatments, or those with blood disorders. The availability of a diverse range of blood components allows healthcare providers to tailor treatment plans to individual patient needs, improving outcomes and reducing risks associated with transfusions.

Anemia, Trauma & Surgery, Cancer Treatment, Bleeding Disorders

The use of blood and blood components in treating anemia, trauma & surgery, cancer treatment, and bleeding disorders highlights the versatility and importance of these products in modern healthcare. Anemia is a common condition that requires red blood cell transfusions to improve oxygen delivery to tissues, while trauma & surgery cases may necessitate platelet or plasma transfusions to support clotting and tissue repair. Cancer treatments often cause low blood cell counts, requiring transfusions to manage side effects and maintain treatment schedules. Bleeding disorders such as hemophilia and von Willebrand disease also rely on specific blood components to prevent excessive bleeding and improve quality of life for patients.

Competitive Landscape:

The Blood and Blood Components Market is characterized by a competitive landscape featuring a mix of global and regional players that focus on innovations in technology, product development, and comprehensive healthcare solutions. Key market trends include an increasing demand for blood components due to rising incidences of trauma, surgeries, and chronic diseases, prompting companies to invest in advanced blood processing technologies and efficient supply chain mechanisms. Partnerships and collaborations between hospitals, blood banks, and pharmaceutical companies are also prevalent, driving growth in the sector. Regulatory compliance, quality assurance, and logistical management are critical factors that companies must navigate in order to establish a competitive edge in this rapidly evolving market.

Top Market Players

- Grifols

- CSL Behring

- Takeda Pharmaceutical Company

- Fresenius Kabi

- Octapharma

- BioProducts Laboratory Limited

- Héma-Québec

- Japan Blood Products Organization

- BloodCenter of Wisconsin

- Sanquin Blood Supply Foundation