Blood Preparation Market : Trajectory of Growth, Opportunities, and Forecast till 2028 - Expert Insights from TechSci Research

The global blood preparation market is undergoing remarkable growth, spurred by a combination of factors that underscore the significance of blood and blood-related products in contemporary healthcare. As per the TechSci Research report titled “Blood Preparation Market – Global Industry Size, Share, Trends, Competition Forecast & Opportunities, 2028”, the market stood at USD 39.12 billion in 2022 and is poised to grow with a CAGR of 5.74% during the forecast period from 2024 to 2028.

Understanding the Dynamics

Driving Factors

The escalating prevalence of chronic diseases, the imperative need for safe and efficient blood products, and advancements in blood preparation technologies are pivotal factors propelling the expansion of the global blood preparation market. Surgical procedures also play a significant role in fueling the demand for blood preparation products. Surgeries, both planned and emergency, often necessitate blood transfusions to manage bleeding disorders, replace lost blood, or support patients undergoing various medical interventions such as cardiac surgeries, organ transplants, and trauma surgeries.

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Ensuring Blood Safety

Blood safety is a paramount concern in healthcare. The advancement in blood testing and screening technologies has led to the development of more accurate and efficient methods for detecting infectious agents such as HIV, hepatitis, and other bloodborne pathogens. These innovations not only enhance the safety of blood products but also mitigate the risk of transfusion-related complications, thereby driving the demand for blood preparation products that adhere to the latest quality and safety standards.

Evolution of Blood Preparation Process

The blood preparation process has undergone significant evolution over the years. Automation and advanced equipment have substantially improved the efficiency and reliability of blood collection, separation, and storage. Automated systems are adept at processing large volumes of blood components with precision, thereby reducing the margin of error and the risk of contamination. The adoption of cutting-edge technologies enhances the overall quality and safety of blood products, ensuring compliance with the highest regulatory standards.

Demographic Shift

The global demographic landscape is witnessing a shift, with an increasing proportion of the population comprising older individuals. Older adults are more likely to require blood transfusions due to various age-related conditions and surgical interventions. As the aging population expands, so does the demand for blood preparations. This demographic transition acts as a significant driver of the global blood preparation market, ensuring a steady and growing need for blood products.

Segment Analysis

Product Segmentation

• Blood Derivatives: Emerged as the dominant segment in the global blood preparation market in 2022. Utilizing blood components, rather than whole blood, reduces the risk of transfusion-related complications. This approach aligns with a focus on patient safety and targeted therapy.

Application Segmentation

• Pulmonary Embolism: Emerged as the dominant segment in the global blood preparation market in 2022. Pulmonary embolism, a life-threatening medical emergency, necessitates immediate anticoagulation therapy, driving the demand for blood preparation products like anticoagulants.

Regional Analysis

North America: A Dominant Player

North America emerged as the dominant player in the global blood preparation market in 2022, holding the largest market share. The region's prominence is attributed to its status as a hub for medical research and innovation, leading to the development of cutting-edge blood preparation technologies. Furthermore, North America has a high prevalence of chronic diseases, which often necessitate blood transfusions and specialized blood preparation products. The robust healthcare infrastructure and efficient strategies for managing blood shortages further bolster the market's growth in the region.

Competitive Analysis

The global blood preparation market exhibits intense competition, with key players focusing on product innovation, strategic collaborations, and geographical expansion to strengthen their market presence. Some of the prominent players operating in the market include:

• Becton, Dickinson and Company (BD)

• Fresenius SE & Co. KGaA

• Grifols, S.A.

• Haemonetics Corporation

• Terumo Corporation

Benefits of the Research Report

• Comprehensive Market Analysis: The report provides a detailed analysis of the global blood preparation market, including market size, growth trends, and competitive landscape.

• Strategic Insights: Stakeholders can leverage the report's insights for strategic planning and decision-making, enabling them to identify lucrative opportunities and mitigate risks.

• Understanding Market Dynamics: By examining key drivers, challenges, and opportunities, the report facilitates a deeper understanding of the dynamic nature of the blood preparation market.

• Identification of Growth Opportunities: With projections for market growth and emerging trends, the report assists stakeholders in identifying and capitalizing on growth opportunities within the market.

• Competitive Benchmarking: Through comprehensive competitive analysis, the report enables companies to benchmark their performance against industry peers, thereby fostering a competitive edge.

The global blood preparation market is poised for substantial growth, driven by factors such as the increasing prevalence of chronic diseases, advancements in blood preparation technologies, and the imperative need for blood safety. With evolving demographics and escalating demand for blood products, the market presents significant opportunities for stakeholders across the healthcare spectrum. By embracing innovation and strategic partnerships, players in the blood preparation market can navigate the evolving landscape and capitalize on emerging growth avenues.

Major companies operating in Global Blood Preparation Market are:

• Pfizer, Inc.

• Bristol-Myers Squibb Company

• Leo Pharma A/S

• Sanofi

• Xiamen Hisunny Chemical Co., LTD

• AstraZeneca plc

• Baxter International Inc

• Portola Pharmaceuticals, Inc.

• GlaxoSmithKline PLC

• Shandong East Chemical Industry Co.

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 “The Global Blood Preparation Market is poised for significant growth in the coming years, driven by several key factors. Anticipated advancements in blood preparation technologies, such as automation and nucleic acid testing, will continue to enhance the safety and efficiency of blood products, instilling greater confidence in healthcare professionals and the public. The rising prevalence of chronic diseases, an aging population, and an increased focus on personalized medicine are expected to fuel the demand for blood and blood derivatives. As healthcare expenditure continues to rise globally, investments in advanced healthcare infrastructure and a robust emphasis on blood safety are set to further boost the market.” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm.

“Blood Preparation Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028 Segmented By Product (Whole Blood, Blood Components, Blood Derivatives), By Type (Platelet Aggregation Inhibitors, Fibrinolytics, Anticoagulants), By Application (Thrombocytosis, Pulmonary Embolism, Renal Impairment, Angina Blood Vessel Complications, Others)Region and Competition”, has evaluated the future growth potential of Global Blood Preparation Market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Global Blood Preparation Market.

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