Blood Preparation Market Size, Share, and Trends 2024 to 2033

The global blood preparation market size accounted for USD 48.53 billion in 2023 and is projected to hit around USD 86.68 billion by 2033, registering a CAGR of 6.01% during the forecast period from 2024 to 2033.

Key Takeaways

• North America contributed more than 45.05% of revenue share in 2023.
• Asia Pacific is expected to witness the fastest growth rate in the blood preparation market during the forecast period.
• By product, the whole blood segment held the largest share of the blood preparation market in 2023.
• The blood derivatives segment is expected to grow at a significant compounded annual growth (CAGR) rate during the forecast period.
• By application, the thrombocytosis segment accounted for a larger share in 2023.
• The angina blood vessel complications segment is estimated to grow with a notable CAGR during the study period till 2033.

Blood Preparation Market in the U.S. 2024 to 2033

The U.S. blood preparation market size was valued at USD 15.29 billion in 2023 and is expected to reach USD 27.31 billion by 2033, growing at a CAGR of 27.31% from 2024 to 2033.

As per the American National Red Cross, someone in the United States requires blood and/or platelets every 2 seconds. Around 29,000 units of red blood cells are needed each day in the United States. About 6,500 units of plasma and 5,000 units of platelets are required every day in the U.S. Approximately 16 million blood components are transfused every year in the United States. Thus, the high demand for blood components is driving the blood preparation market growth in the North American region.

In April 2023, fifty community groups and organizations across Wales and England received £685,000 ($856,983) in funding. This financial support was provided as part of the Government’s commitment to tackle health inequalities by promoting blood donation among Asian and Black communities. German Red Cross has 6 blood transfusion services including 28 donation centres and institutes. Some of these institutes and donation centers also offer an opportunity for plasmapheresis. The presence of a significant number of blood transfusion and donation centers is strengthening the European blood preparation market from the supply side.

In June 2023, the Indian Health Ministry reported that India needs an average of 14.6 million blood units every year. As per the Press Information Bureau (PIB), someone in India requires blood every 2 seconds, and 1 out of every 3 Indians will need blood in their lifetime. Thus, the high demand for blood is expected to drive the blood preparation market in the Asia Pacific (APAC) region in the coming years.

Blood Preparation Market Overview

The growing number of transfusion procedures, rising incidence of blood-related disorders, and increasing blood donations are majorly driving the blood preparation market growth across the world. Additionally, the growing incidence of road accidents is also expected to fuel the market growth over the study period. In June 2023, the WHO stated that in total, 79 nations collect more than 90% of their blood supply from voluntary unpaid blood donors and 54 nations collect over 50% of their blood supply from family/replacement or paid donors. As per The American National Red Cross, nearly 6.8 million people donate blood in the U.S. every year. The American National Red Cross also mentioned that around 13.6 million units of whole blood and red blood cells are collected every year in the United States. The high donation of blood and its components supports the blood preparation market growth remarkably.

Growth Factors

• An increasing number of transfusion-based therapies drives the growth of the blood preparation market. Each year in the U.S., around 21 million blood components like platelets, red blood cells, and plasma are transfused. These transfusions help in improving the lives of more than 4 million Americans. As per an article shared by Springer Nature, 1.13 million blood transfusions are performed in Japan each year. Thus, the high requirement for transfusions is majorly driving the blood preparation market growth worldwide.
• The rising incidence of blood-related disorders has a significant impact on the growth of the blood preparation market. Conditions like leukaemia, anaemia, and other genetic anomalies related to the blood or bone marrow are generally treated by procedures including several components of the human body. Plasma therapies, blood and bone marrow replacement procedures, etc., promote the growth of the therapeutic segment of the market.

Blood Preparation Market Scope

Blood Preparation Market Dynamics

Driver

The growing blood donations in various countries are driving the blood preparation market growth remarkably. As per an analysis of Increasing blood donation

mentioned by the National Library of Medicine, the blood donation rate in Japan in FY 2020 increased and accounted for 6.0% (5.04 million). While addressing ‘National Voluntary Blood Donation Day’ in October 2022, the Indian Union Health Minister stated that over 250,000 people donated blood under ‘Raktdaan Amrit Mahotsav’ in India.

Restraint

Complications associated with blood transfusion

Inappropriate handling of blood products during processes such as blood transfusion can probably lead to various blood-borne infections. Transfusion-transmitted infections (TTIs) refer to infections that originate from the introduction of a pathogen into a person’s body through blood transfusion. A broad range of organisms, including viruses, bacteria, parasites, and prions can be transmitted through blood transfusions. Transfusion–transmitted sepsis can cause severe illness. More common reactions with blood transfusion include allergic reactions. These allergic reactions may cause fever, hives, and itching. The risk of respective infections associated with blood transfusion tends to restrain the blood preparation market growth to a certain extent.

Opportunity

New research initiatives

Several new initiatives supporting the research and awareness of blood transfusions have been observed in the past few decades. The policies support business to develop a better understanding regarding blood and its components. In January 2023, it was announced that a scientist from the University of Maryland School of Medicine (UMSOM) will lead a new research program for developing and testing a whole blood product.

This whole blood product will be storable at room temperature and useful to transfuse wounded soldiers within 30 minutes of injury. With $46.4 million in Federal funding, UMSOM will manage this whole blood product project. The growing research and development activities for blood products are anticipated to create promising opportunities for the blood preparation market growth.

Products Insights

The whole blood segment held the largest market share in 2023. Whole blood is used in the treatments of cases that require large amounts of all blood components. Majorly individuals who have sustained significant blood loss due to major surgeries or massive trauma need substantial quantities of whole blood. As per the German Heart Surgery Report 2022, the total number of heart surgical procedures increased from 92,838 in 2021 to 93,913 in 2022. The growing number of heart surgeries is contributing to the enormous growth of the whole blood segment.

The blood derivatives segment is predicted to grow at a notable compounded annual growth rate (CAGR) during the study period. The increasing requirement for the development of plasma-derived proteins, such as coagulation factor products, immunoglobulins, dried human plasma, human fibrin foam, and human thrombin, is expected to cater to the growth of the blood derivatives segment during the forecast period.

Applications Insights

The thrombocytosis segment had a higher revenue share in 2023. The National Library of Medicine mentions that in a retrospective study involving 801 adult patients, primary thrombocytosis was observed in 5.2% of cases. Thus, the high prevalence of thrombocytosis, increasing awareness, and advancements in diagnostic techniques contribute to the growth of the thrombocytosis segment.

The angina blood vessel complications segment is anticipated to grow with a significant compounded annual growth (CAGR) during the forecast period. Angina is generally caused by a reduction in blood flow to the heart muscle, which is commonly observed in coronary artery disease (CAD). As per the Centers for Disease Control (CDC), about 1 in 20 adults (nearly 5%) aged 20 years and older have coronary artery disease (CAD) in the U.S. The high prevalence of coronary artery disease is estimated to contribute to the angina blood vessel complications segment growth.

Recent Developments

• In May 2023, with $50 million from the New York Blood Center, NYBC Ventures was unveiled as one of the first venture funds focusing exclusively on advancing new blood and cell-based therapies. Thus, increasing funds for new blood and cell-based therapies is expected to contribute to the promising growth of the blood preparation market.
• In February 2023, Terumo Blood and Cell Technologies announced the FDA clearance and official launch of its IMUGARD® WB Platelet Pooling Set. This new platelet pooling set supports extended shelf life of whole blood-derived platelets from 5 to 7 days. IMUGARD is the first platelet pooling set approved for 7-day storage in the United States.
• In November 2022, the RESTORE clinical trial (REcovery and survival of STem cell Originated REd cells) was initiated by the NIHR Blood and Transplant Research Unit. Researchers stated that if this clinical trial of lab-grown red blood cells is proven effective and safe, it can revolutionize treatments for people with rare blood types.

Blood Preparation Market Companies

• AstraZeneca plc
• Baxter International Inc
• Bristol-Myers Squibb Company
• Celgene Corp.
• GlaxoSmithKline PLC
• Leo Pharma A/S
• Pfizer, Inc.
• Portola Pharmaceuticals, Inc.
• Sanofi
• Shandong East Chemical Industry Co.
• Xiamen Hisunny Chemical Co., LTD

Segments Covered in the Report

By Product

• Whole blood
  • Granulocytes
  • Red blood cells
  • Plasma
  • Platelets
• Blood components
  • Leukocyte reduced red blood cells
  • Packed red blood cells
  • Frozen plasma
  • Platelet concentrates
  • Cryoprecipitate
• Blood derivatives

By Antithrombotic and Anticoagulants Type

• Platelet aggregation inhibitors
  • Glycoprotein inhibitors
  • ADP antagonists
  • COX inhibitors
  • Others
• Fibrinolytics
  • Streptokinase
  • Tissue plasminogen activator (tPA)
  • Urokinase
• Anticoagulants
  • Heparins
    • Low molecular weight heparin (LMWH)
    • Unfractionated heparin
    • Ultra-low molecular weight heparin
  • Direct thrombin inhibitors
  • Vitamin K antagonists
  • Direct factor Xa inhibitors

By Application

• Thrombocytosis
• Renal impairment
• Pulmonary embolism
• Angina blood vessel complications
• Others

By End User

• Clinics
• Hospitals
• Diagnostic centers
• Research labs
• Blood banks

By Geography

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East and Africa