|
Forecast
Period
|
2026-2030
|
|
Market
Size (2024)
|
USD
44.09 Billion
|
|
Market
Size (2030)
|
USD
62.62 Billion
|
|
CAGR
(2025-2030)
|
5.98%
|
|
Fastest
Growing Segment
|
Red
Blood Cells
|
|
Largest
Market
|
North
America
|
Market Overview
Global Blood Product Market was valued at USD 44.09
Billion in 2024 and is expected to reach USD 62.62 Billion by 2030 with a CAGR
of 5.98% during the forecast period. The global blood product market is primarily
driven by the increasing prevalence of chronic diseases, bleeding disorders,
and immune deficiencies that require blood products such as plasma, albumin,
clotting factors, and immunoglobulins. The aging population globally is also
contributing to a rise in demand for blood-based therapies. Advancements in
medical treatments, surgical procedures, and trauma care, which often require
blood transfusions, are fuelling market growth. Increased awareness and the
growing adoption of blood product therapies for conditions like hemophilia,
autoimmune disorders, and burn injuries are major factors. The expansion of
healthcare infrastructure, particularly in emerging markets, and regulatory
advancements ensuring safety and quality in blood product use are also key
drivers in the market's expansion.
Key Market Drivers
Increasing Prevalence of Chronic Diseases
The increasing prevalence of chronic diseases has become one of the primary
drivers of the global blood product market. Conditions such as hemophilia,
autoimmune disorders, immune deficiencies, liver diseases, and kidney
dysfunction require regular medical interventions, many of which involve the
use of blood products. According to Centers for Disease Control and
Prevention, an estimated 33,000 males in the United States are living with
hemophilia, a condition characterized by spontaneous (unexplained) bleeding and
excessive bleeding after injury. This often includes recurrent bleeding within
joints, which can lead to chronic joint disease. While bleeding symptoms in
females with hemophilia tend to be milder compared to males, studies have shown
that females with hemophilia still experience reduced joint range of motion
compared to females without a bleeding disorder.
For example, hemophilia patients require clotting
factor concentrates to manage bleeding episodes, and immune deficiency
disorders are treated with immunoglobulin therapies derived from blood plasma.
The rise in chronic disease rates worldwide is largely due to lifestyle
factors, such as poor diet, sedentary behavior, and an aging population. As
these diseases become more widespread, the need for blood-derived treatments is
growing, leading to an increase in demand for essential blood products.
Aging Population and Associated Health Conditions
The aging population is another significant factor driving the demand for blood
products. As the global population ages, there is an increased prevalence of
age-related health issues such as cardiovascular diseases, cancer, diabetes,
neurological disorders, and renal failure. Countries around the world
are confronted with significant challenges in preparing their health and social
systems to effectively address the implications of an aging population. According
to WHO, by 2050, 80% of older individuals will reside in low- and middle-income
countries, and the rate of population aging is accelerating rapidly compared to
previous generations. In fact, by 2020, the number of people aged 60 and older
surpassed the number of children under the age of 5.
Older individuals are also more likely to
experience trauma or need major surgeries, which often require the transfusion
of blood products like red blood cells, plasma, and platelets. The aging
demographic, particularly in developed nations, results in a higher incidence
of chronic illnesses that require ongoing medical treatments. This has led to a
surge in the demand for blood-derived therapies, such as albumin and clotting
factor concentrates, which are used to manage a variety of medical conditions common
in elderly patients.
Improved Blood Collection and Processing
Technologies
Technological advancements in blood collection and processing technologies have
greatly enhanced the efficiency and safety of blood product production. The
introduction of automated blood collection systems has streamlined the process,
reducing the time and labor required to collect blood and plasma. Fractionation
technology has enabled the separation and purification of plasma into its
essential components, allowing for targeted therapies to be derived from the
same blood donation. This has reduced wastage and increased the overall yield
of usable blood products. Advancements in storage technology have made it
easier to preserve blood components for extended periods, ensuring they remain
viable and ready for use when needed. These innovations have made blood
collection and processing more cost-effective and have improved the supply of
plasma-derived therapies, making them more accessible to patients.
Increased Awareness and Blood Donation Initiatives
Growing public awareness of the importance of blood donation and the essential
role of blood products in saving lives has also contributed to the expansion of
the market. Health campaigns and initiatives to encourage blood donation have
led to increased blood donations globally. As a result, plasma collection centers
and blood banks are receiving a higher volume of donations, ensuring a steady
supply of raw materials needed for blood product manufacturing. In 2024, the Singapore Red
Cross (SRC) has launched a new initiative aimed at engaging 500 young people
aged 16 to 25 over the next five years. The organization also plans to increase
the proportion of youth donors in its program to 25% by 2030, up from the
current 15%. A study by the Health Sciences Authority (HSA) revealed that
individuals aged 60 and above account for 60% of blood usage, as the likelihood
of needing a blood transfusion increases with age due to a higher
susceptibility to anemia and the development of multiple comorbidities.
The global demand for blood products is thus met
through a combination of effective donor recruitment and better donor retention
strategies, helping ensure that essential blood products are available when
needed. Increased awareness has created a more robust blood donation
infrastructure, which supports the market's growth.
Growing Investment in Healthcare Infrastructure
Healthcare infrastructure development, particularly in emerging economies, has
been a crucial driver of the blood product market. As countries in Asia
Pacific, Africa, and South America continue to invest in medical facilities,
hospitals, and blood banks, there is a growing need for blood products to meet
the healthcare demands of expanding populations. Governments and private sector
companies are making substantial investments in modern medical equipment and
blood storage technologies, which are crucial for supporting large-scale blood
collection and transfusion operations. These investments in healthcare systems
are enabling emerging markets to increase their production, collection, and
processing capacity for blood products, which in turn supports the global
market.
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Key Market Challenges
Blood Product Supply Shortages
One of the primary challenges faced by the blood product market is supply
shortages. The collection of blood and plasma is heavily dependent on voluntary
donations, which can be inconsistent and unpredictable. In some regions,
particularly in developing countries, there is a lack of sufficient donation
campaigns and donor awareness, leading to gaps in supply. There are seasonal
fluctuations in donation rates, with fewer donations occurring during certain
times of the year, such as holidays. This inconsistency in blood and plasma
donations can result in shortages of critical blood products, creating a
bottleneck for production and distribution. These supply challenges require
continuous efforts in donor recruitment and public education to ensure a stable
supply of blood products.
High Costs of Blood Product Manufacturing
The manufacturing of blood products, particularly plasma-derived therapies, is
a costly process. The fractionation of plasma into its components, such as
albumin, immunoglobulins, and clotting factors, requires advanced technologies
and highly specialized equipment. The storage and transportation of blood
products must meet strict regulatory standards, which further increases the
cost. Plasma-derived products often carry premium pricing due to the complexity
of the production process, and this can make access to these therapies
difficult, especially in low-income regions. The high costs of blood product
production are a barrier for many healthcare systems, which struggle to provide
affordable access to essential treatments. This issue requires efforts to reduce
manufacturing costs through innovative technologies and efficient processes
while maintaining high standards of safety and efficacy.
Key Market Trends
Trauma and Surgical Procedures
Trauma cases and surgical procedures are major contributors to the growth of
the blood product market. As global traffic accidents, workplace injuries, and
other trauma-related incidents increase, there is a greater need for blood
transfusions to stabilize patients. Trauma patients often require red blood
cells for blood loss management and plasma for clotting support. Similarly,
major surgeries, such as cardiac, orthopedic, and cancer surgeries, frequently
require blood transfusions to replace lost blood and aid recovery. As surgical
procedures become more common, especially with the rising number of complex
surgeries performed worldwide, the need for blood products has significantly
increased. The growing incidence of trauma and surgical operations is directly
linked to the increase in demand for blood products, making this one of the key
drivers of the market.
Advancements in Blood Product Therapies
Innovation in the development of blood product therapies is another crucial
factor driving the market's expansion. The field of plasma fractionation has
evolved to extract a wider range of therapeutic proteins, including
immunoglobulins, albumin, and clotting factors, which are essential for
treating various medical conditions. For instance, immunoglobulins are used to
treat autoimmune diseases, and albumin is used in critical care settings for
patients with burns or shock. In March 2024, BD (Becton, Dickinson, and
Company) launched the BD Vacutainer® UltraTouchTM Push Button Blood Collection
Set in India, aiming to reduce patient pain and discomfort while enhancing the
likelihood of a successful single-prick blood collection.
The development of synthetic blood products and
next-generation treatments using biotechnology has expanded the scope of
blood-derived therapies. The growing ability to tailor blood products for
specific diseases and patients has enhanced the effectiveness of treatments,
driving both market growth and increasing patient demand for these specialized
products.
Segmental Insights
Type Insights
Based on the Type, Red
Blood Cells (RBCs) dominated the global blood product market in terms of both
volume and demand. RBCs are essential for oxygen transport throughout the body,
and they play a critical role in managing conditions like anemia, hemorrhagic
shock, surgical blood loss, and trauma. The need for RBCs is widespread due to
their broad application in clinical settings such as emergency medicine, trauma
care, surgery, and oncology. RBC transfusions are crucial for patients
undergoing major surgeries, cancer treatments, or managing severe blood loss,
making them the most commonly used blood product globally.
The demand for Red Blood Cells is consistently high
across hospitals and healthcare systems worldwide. The global trauma burden,
including traffic accidents, natural disasters, and workplace injuries, has
contributed to the elevated need for blood transfusions. Surgical procedures,
especially in cardiothoracic and orthopedic surgeries, often result in
significant blood loss, requiring immediate RBC transfusions. Conditions like
sickle cell anemia, thalassemia, and chronic kidney disease further contribute
to the demand, as patients with these diseases often require regular RBC
transfusions to manage their health.
Another significant factor driving the dominance of
RBCs is the advancements in blood storage and preservation technologies. The
ability to store red blood cells for up to 42 days at controlled temperatures
has made it easier for healthcare facilities to maintain an adequate supply,
ensuring that patients receive timely transfusions when necessary. RBCs have
become the go-to product for treating acute blood loss, and this widespread
application has established them as the leading blood product in terms of demand.
Application Insights
Based on the Application segment,
Hospitals was the dominant players in the global blood product market. While
blood stations, also known as blood banks or plasma collection centers, are
essential for the collection and initial processing of blood, hospitals are
where the majority of blood products are utilized for patient care. The primary
reason for this dominance is the direct role that hospitals play in patient
treatment. Hospitals are the centers of medical emergencies, surgeries, and
long-term care, where blood products like red blood cells, platelets, fresh
frozen plasma, and other blood components are crucial for life-saving
procedures.
Hospitals across the world are the main consumers
of blood products, particularly in high-demand clinical scenarios such as
trauma care, surgical operations, and emergency medical situations. Trauma
cases, such as accidents, burns, and natural disasters, require immediate
transfusions of red blood cells and plasma to stabilize patients. Hospitals are
also where surgical procedures of all types are performed, from routine
operations to complex surgeries, such as cardiac bypass, orthopedic procedures,
and organ transplants. These surgeries often result in blood loss, making blood
transfusions necessary to support the patient’s recovery. Hospitals manage
long-term care patients, including those with cancer, anemia, kidney disease,
and liver conditions, who require regular blood transfusions to manage their
medical conditions.
The growing number of surgical operations and
trauma cases worldwide has significantly contributed to the increasing demand
for blood products in hospitals. Hemorrhagic shock, which results from severe
blood loss due to injuries or surgeries, is a major concern in emergency care
settings. Hospitals are equipped with blood banks that ensure an adequate
supply of blood products is always available for transfusion. Hospitals with
specialized departments in oncology, cardiology, neurology, and neonatology
often require specific blood products for treatments like chemotherapy, heart
surgeries, and the management of premature infants, further driving the demand
for blood products in these institutions.
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Regional Insights
North America was the dominant region in
the global blood product market. The United States, in particular, plays a
significant role in driving this dominance, due to its advanced healthcare
infrastructure, high demand for blood products, and ongoing innovations in the
field. The market in North America benefits from strong support systems,
including blood banks, plasma collection centers, and emergency healthcare
services that ensure a continuous supply of blood products such as red blood
cells, platelets, fresh frozen plasma, and other critical components. Hospitals
and healthcare institutions in the region consume a significant volume of these
products due to their involvement in surgical procedures, trauma care, cancer
treatments, and emergency medicine.
The United States alone accounts for a large
portion of the market share in North America. The country has an extensive
network of blood collection and transfusion services, such as the American Red
Cross, which ensures that hospitals are consistently stocked with essential
blood products. The strong healthcare infrastructure and advanced medical
technology available in the region also facilitate the efficient processing,
storage, and distribution of blood products. North American countries like
Canada also play a key role in the market, with well-established blood
collection systems and increasing efforts to promote plasma donation, further
boosting the availability of blood products.
North America's dominance in the blood product
market is also driven by a high number of trauma cases, emergency surgeries,
and an aging population that requires frequent blood transfusions. The rising
incidence of chronic diseases, such as cancer, anemia, and kidney disorders,
has led to an increased demand for blood products in treatment regimens. The
demand for plasma-derived products, like albumin and immunoglobulins, has also
been rising in North America, owing to their application in treating various medical
conditions like immune disorders, liver diseases, and respiratory illnesses.
The strong regulatory frameworks in North America
also contribute to the region's leadership in the blood product market. The
Food and Drug Administration (FDA) and other regulatory bodies have established
stringent safety standards for blood collection, processing, and transfusion,
ensuring that blood products are safe for patient use. This regulatory
oversight has helped build trust in the safety and efficacy of blood products
in the region, further encouraging their use in hospitals and clinics.
In addition to healthcare services, North America's
blood product market is supported by ongoing advancements in medical
technologies. Innovations in blood processing technologies, such as automated
systems for blood typing, separation, and storage, have improved the efficiency
and safety of blood transfusions. The growing use of artificial intelligence
and machine learning in the management of blood supplies has also contributed
to the region's market growth. These advancements have streamlined blood collection
processes, reduced the risk of human error, and improved overall patient
outcomes.
Recent Developments
- In September 2024, Safi Biotherapeutics, a leader
in developing manufactured red blood cells (mRBCs) as a replacement for donor
blood transfusions, announced a USD 5 million seed funding round led by J2
Ventures. This follows the U.S. Department of Defense's previous investment of
over USD 15 million.
- In February 2024, a USD 1.86 million investment in
25 red blood cell exchange devices in England will soon improve access to
better care for sickle cell disease patients, allowing treatment closer to
their homes.
- In October 2024, Terumo
Blood and Cell Technologies (Terumo BCT), a global leader in blood management
systems, introduced the ReveosTM Automated Blood Processing System in the U.S.
to assist blood centers in meeting their platelet and blood supply demands
while boosting staff productivity.
- In February 2023, the
development of a field-deployable, shelf-stable whole blood substitute for
trauma resuscitation in the absence of donated blood products received USD 46
million in funding from the Defense Advanced Research Projects Agency (DARPA)
of the U.S. Department of Defense.
Key Market Players
- CSL Limited
- Takeda Pharmaceutical Company
Limited
- Octapharma AG
- Grifols, S.A.
- Kedrion S.p.A
- Hualan Biological Vaccine Inc.
- Mitsubishi Tanabe Pharma
Corporation
- Baxter International Inc.
- Versiti, Inc.
- Bio Products Laboratory Ltd.
|
By Type
|
By Application
|
By Region
|
- Red Blood
Cells
- Platelets
- Fresh Frozen
Plasma
- White Blood
Cells
- Others
|
- Blood
Station
- Hospitals
- Others
|
- North
America
- Europe
- Asia Pacific
- South
America
- Middle East
& Africa
|
Report Scope:
In this report, the Global Blood Product Market has
been segmented into the following categories, in addition to the industry
trends which have also been detailed below:
- Blood Product Market, By Type:
o Red Blood Cells
o Platelets
o Fresh Frozen Plasma
o White Blood Cells
o Others
- Blood Product Market, By Application:
o Blood Station
o Hospitals
o Others
- Blood Product Market, By Region:
o North America
§ United States
§ Canada
§ Mexico
o Europe
§ France
§ United Kingdom
§ Italy
§ Germany
§ Spain
o Asia-Pacific
§ China
§ India
§ Japan
§ Australia
§ South Korea
o South America
§ Brazil
§ Argentina
§ Colombia
o Middle East & Africa
§ South Africa
§ Saudi Arabia
§ UAE
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in the Global Blood
Product Market.
Available Customizations:
Global Blood Product market report with the
given market data, TechSci Research offers customizations according to a
company's specific needs. The following customization options are available for
the report:
Company Information
- Detailed analysis and profiling of additional market
players (up to five).
Global Blood Product Market is an upcoming report
to be released soon. If you wish an early delivery of this report or want to
confirm the date of release, please contact us at [email protected]