Blood Preparation Market

Blood Preparation Market Size:

The global blood preparation market size reached US$ 44.4 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 64.9 Billion by 2032, exhibiting a growth rate (CAGR) of 4.2% during 2024-2032. The market is expanding due to the rising prevalence of chronic diseases, imposition of government initiatives that improve healthcare infrastructure, growing public awareness leading to increased blood donations, rapid advancements in blood processing technology, and the increasing adoption of personalized medicine.

Blood Preparation Market Analysis:

• Major Market Drivers: According to the blood preparation market outlook, the heightened prevalence of chronic diseases like cancer, cardiovascular problems, and anemia is boosting the expansion of the industry. Apart from this, increased awareness of blood donation, combined with rapid improvements in blood processing technology, are accelerating the market growth.
• Key Market Trends: Technological advances in blood separation, storage, and safety testing are acting as major industry trends. Furthermore, the shifting trend toward personalized medicine, as well as demand for improved anticoagulants and antithrombotic therapies, are driving the market expansion.
• Geographical Trends: North America is leading the market as a result of its advanced healthcare infrastructure, high prevalence of chronic diseases, and well-established blood donation networks. Other regions are also exhibiting significant development potential, owing to improved healthcare facilities and increased awareness of blood donation.
• Competitive Landscape: Some of the major market players in the blood preparation industry include 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.), Sanofi S.A., among many others.
• Challenges and Opportunities: The blood preparation market analysis indicates that the risk of blood contamination and supply shortages in some regions are impacting the availability of blood products, thereby impeding market expansion. However, the introduction of blood donation campaigns, improving blood storage technologies, and developing innovative therapies for conditions like thrombocytosis and clotting disorders are positively impacting the expansion of the market.

Blood Preparation Market Trends:

Increasing Prevalence of Chronic Diseases

The rise in chronic diseases, including cardiovascular conditions, cancer, and diabetes, is one of the major factors positively impacting the blood preparation market dynamics. As per industry research, an estimated 129 million people in the U.S. have at least one major chronic disease. These diseases are known to result in complications such as anemia, clotting disorders, and immune system deficiencies, which require frequent blood transfusions, platelet replacement therapy, and plasma treatments. For instance, according to the National Blood Collection and Utilization Survey (NBCUS) report, in 2021, 10,764,000 units of whole blood-derived and apheresis red blood cells (RBCs) were transfused in the United States. Moreover, the growing geriatric population across the globe, exacerbating the need for blood transfusion as these individuals are more prone to chronic illnesses and associated complications, is bolstering the expansion of this industry.

Introduction of Government Initiatives and Healthcare Infrastructure Development

The introduction of various government initiatives to improve healthcare infrastructure and ensure a stable blood supply is enhancing the blood preparation market size. The increasing government focus on investing in initiatives that promote blood donation, improve blood bank facilities, and enhance the overall safety and availability of blood products is boosting the market growth. For instance, the Government of India (GOI), through blood transfusion services, has been supporting 1131 blood banks in the public and charitable sector with respect to manpower, procurement of blood bags and testing kits, conduction of voluntary blood donation (VBD) camps, and information education communication (IEC) activities. In addition, governments are implementing stringent measures to ensure the quality and safety of blood products, which helps build trust among healthcare providers and patients. For example, e-RaktKosh, an initiative of the Government of India to monitor the blood banks, is an integrated blood bank management information system that interconnects all the blood banks into a single network.

Growing Awareness and Increasing Blood Donations

The growing awareness about the importance of blood donation and the increasing number of blood donors across the globe are boosting the blood preparation market share. Each year, an estimated 6.8 million people in the U.S. donate blood, and 13.6 million units of whole blood and red blood cells are collected. Moreover, the introduction of public health campaigns and initiatives led by governments, non-governmental organizations (NGOs), and healthcare providers to educate the public about the life-saving importance of donating blood is bolstering the market growth. Along with this, the growing demand for blood products in developed and developing countries that is leading to more structured and organized blood donation systems, which ensure a steady and reliable supply of blood, is fueling the market growth.

Blood Preparation Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the global, regional, and country levels for 2024-2032. Our report has categorized the market based on product, antithrombotic and anticoagulants type, and antithrombotic and anticoagulants application.

Breakup by Product:

• Whole Blood
  • Red Cells
  • Granulocytes
  • Plasma
  • Platelets
• Blood Components
  • Whole Blood Components
  • Packed Red Cells
  • Leukocyte Reduced Red Blood Cells
  • Frozen Plasma
  • Platelet Concentrate
  • Cryoprecipitate
• Blood Derivatives
   

Whole blood accounts for the majority of the market share

The report has provided a detailed breakup and analysis of the market based on the product. This includes 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. According to the report, whole blood represented the largest segment.

As per the blood preparation market analysis, whole blood dominated the market due to its widespread use in various medical treatments, including surgeries, trauma care, and transfusions for patients with severe anemia or blood loss. Moreover, it contains all essential components, such as red cells, white cells, platelets, and plasma, making it versatile for multiple clinical applications. Besides this, the growing demand for whole blood in emergency and critical care settings, coupled with its crucial role in life-saving procedures, is contributing to the market growth.

Breakup by Antithrombotic and Anticoagulants Type:

• Platelet Aggregation Inhibitors
  • Glycoprotein Inhibitors
  • COX Inhibitors
  • ADP Antagonists
  • Others
• Fibrinolytics
  • Tissue Plasminogen Activator (TPA)
  • Streptokinase
  • Urokinase
• Anticoagulants
  • Heparins
  • Vitamin K Antagonists
  • Direct Thrombin Inhibitors
  • Direct Factor Xa Inhibitors
     

Anticoagulants holds the largest share of the industry

A detailed breakup and analysis of the market based on the antithrombotic and anticoagulants type have also been provided in the report. This includes 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). According to the report, anticoagulants accounted for the largest market share.

Based on the blood preparation market overview, anticoagulants accounted for the largest market, driven by their critical role in preventing and treating blood clots, which are common in conditions such as deep vein thrombosis, pulmonary embolism, and atrial fibrillation. Moreover, anticoagulants are essential for managing clot-related disorders and reducing the risk of strokes and heart attacks. Besides this, their frequent use in surgical procedures and long-term treatments for patients with cardiovascular conditions is enhancing the market growth. Along with this, the increasing geriatric population, which is more prone to clotting disorders, and the development of newer anticoagulant therapies that offer improved safety and efficacy profiles are boosting the blood preparation market growth rate.

Breakup by Antithrombotic and Anticoagulants Application:

• Thrombocytosis
• Pulmonary Embolism
• Renal Impairment
• Angina Blood Vessel Complications
• Others
   

Thrombocytosis represents the leading market segment 

The report has provided a detailed breakup and analysis of the market based on the antithrombotic and anticoagulants application. This includes thrombocytosis, pulmonary embolism, renal impairment, angina blood vessel complications, and others. According to the report, thrombocytosis represented the largest segment.

According to the blood preparation market forecast, thrombocytosis represented the largest share in the market, due to the increasing prevalence of conditions that cause elevated platelet counts, such as myeloproliferative disorders. Moreover, thrombocytosis often leads to excessive blood clot formation, which can result in severe complications like strokes or heart attacks. Anticoagulants and antithrombotic therapies are critical for managing this condition by preventing abnormal clotting. Along with this, the growing awareness of thrombocytosis, rapid advancements in diagnostic tools, and the availability of targeted anticoagulant treatments are driving the market growth.

Breakup by Region:

• North America
  • United States
  • Canada
• Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa
   

North America leads the market, accounting for the largest blood preparation market share

The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, North America represents the largest regional market for blood preparation.

As per the blood preparation market report, North America is leading the market, driven by its well-established healthcare infrastructure, high prevalence of chronic diseases, and significant healthcare spending. Moreover, the growing demand for blood products, fueled by the growing incidence of conditions such as cancer, cardiovascular diseases, and anemia, which require regular blood transfusions and platelet therapies, is bolstering the market growth. Besides this, the introduction of advanced medical technologies, a strong emphasis on blood safety, and a large network of blood donation centers in the region are acting as major blood preparation market drivers.

Competitive Landscape:

• The market research report has also provided a comprehensive analysis of the competitive landscape in the market. Detailed profiles of all major companies have also been provided. Some of the major market players in the blood preparation industry include 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.), Sanofi S.A., etc.
  
  (Please note that this is only a partial list of the key players, and the complete list is provided in the report.)
   
• The leading players in the market are focusing on strategic collaborations, product innovations, and expanding their geographical presence to strengthen their market positions. They are investing in research and development (R&D) to introduce advanced blood products and technologies aimed at improving safety and efficacy. Moreover, several firms are enhancing their production capabilities to meet the rising demand for plasma-derived therapies and other blood components. Besides this, they are forming partnerships with hospitals, blood banks, and healthcare institutions to secure stable supply chains and improve accessibility.

Blood Preparation Market News:

• In February 2023, Bristol Myers Squibb, in collaboration with Janssen Pharmaceuticals, Inc., announced the launch of the Phase 3 Librexia program that studies milvexian, an investigational oral factor XIa (FXIa) inhibitor (antithrombotic). The Librexia program is known to provide important data from nearly 50,000 patients across three indication-seeking studies, such as Librexia STROKE, Librexia ACS, and Librexia AF.
• In April 2024, Pfizer Inc. announced that the U.S. Food and Drug Administration (FDA) has approved BEQVEZ (fidanacogene elaparvovec-dzkt) for the treatment of adults with moderate to severe hemophilia B who currently use factor IX (FIX) prophylaxis therapy. It is also applicable for patients who have a current or historical life-threatening hemorrhage or have repeated and serious spontaneous bleeding episodes and do not have neutralizing antibodies to adeno-associated virus serotype Rh74var (AAVRh74var) capsid. This product is a one-time treatment that is created to enable people living with hemophilia B to produce FIX themselves.

Blood Preparation Market Report Scope:

Key Benefits for Stakeholders:

• IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the blood preparation market from 2018-2032.
• The research report provides the latest information on the market drivers, challenges, and opportunities in the global blood preparation market.
• The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
• Porter's five forces analysis assists stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the blood preparation industry and its attractiveness.
• The competitive landscape allows stakeholders to understand their competitive environment and provides insight into the current positions of key players in the market.