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Blood And Blood Components Global Market Report 2023
Major players in the blood and blood components market are American Red Cross, Australian Red Cross Blood Service, Abbott Laboratories, Blood Centres of America, Becton, Dickinson & Co., German Red Cross, Nipro Medical Corporation, American Association of Blood Banks, AVIS National and National Blood Authority Australia.
New York, Feb. 20, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Blood And Blood Components Global Market Report 2023" - https://www.reportlinker.com/p06229172/?utm_source=GNW
The global blood and blood components market will grow from $37.49 billion in 2022 to $39.21 billion in 2023 at a compound annual growth rate (CAGR) of 4.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, causing inflation across goods and services effecting many markets across the globe. The blood and blood components market is expected to grow to $47.53 billion in 2027 at a CAGR of 4.9%.
The blood and blood components market consist of sales of red cells, platelets, plasms, cryoprecipitated AHF, and granulocytes.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Blood is defined as entire human blood that has been obtained from a donor and processed for transfusion or further production. Blood component refers to a therapeutic component of human blood, including its red, white, platelet, and plasma cells.
North America was the largest region in the blood and blood components market in 2022.Western Europe was the second largest region in the blood and blood components market.
The regions covered in the blood and blood components market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The blood and blood components market consist of sales of blood and blood component. The market involves the collection of donor’s blood and segregating it into required components for the purpose of therapy.
The main types of products in blood and blood components are whole blood and blood components.Human blood from a typical blood donation is known as whole blood.
It is utilized in the treatment of excessive bleeding, exchange transfusions, and self-donation of blood.The different blood components include red blood cells, platelets, plasma, and white blood cells and are used in anemia, trauma and surgery, cancer treatment, and bleeding disorders.
The several end-users involved are hospitals, ambulatory surgical centres, and others.
The blood and blood components market is being driven by increasing incidence of trauma and road accidents.Sometimes, because of traumas such as hemorrhage, the volume of blood is reduced to a very low level and cannot be replaced fast enough by the body.
Also, road accidents cause excessive blood loss from the body that has to be restored immediately.At times, the blood itself lacks a few components as in the case of hemophilia.
All these conditions demand transfusion of blood and blood components into the patient’s body.The growing prevalence of diseases and increasing numbers of road accidents and traumas are increasing the demand for blood and thus driving the market.
According to a report by Centres for Disease Control and Prevention, Hemophilia A affects one out of every 5,000 male babies born. Every year, about 400 newborns are born with haemophilia. Also, according to the Arizona Department of Health Services, in 2021, trauma related deaths increased by 19% as compared to 2020. Falls accounted for most deaths and injuries.
The blood and blood components market is restrained by the growing risk of developing or transferring an infection while the blood is transmitted to the patients.The growing possibilities of developing any transfusion transmitted infection (TTI) is imposing a restriction on the growth of the market.
The fear of transfusion of diseases from the donor to the recipient, forces many customers to avoid using donated blood, thus hampering the growth of the blood and blood components market. The most common viral agents that can be transmitted through blood transfusion are Human Immunodeficiency Virus (HIV), hepatitis viruses, West Nile Virus (WNV), Human T-cell Lymphotrophic Viruses (HTLVs).
The most prominent trend that has been witnessed in the blood and blood components market is the growing number of collaborations between the players involved in the market.Companies are adopting partnerships and collaborations in order to expand their reach, increase customer base and generate awareness in the market.
For example, the American Red Cross collaborated with HealthStream with an aim of introducing new program for healthcare organizations. Similarly, the BloodCenter of Wisconsin collaborated with SysLogic Inc., to study how the RFID technology can be used to enhance safety of the patient while collecting and transfusing blood products.
The blood and blood components market in European Union is governed by Directive 2002/98/EC of the EU regulations.The regulatory body engages itself in providing guidelines and setting standards for quality and safety of collection, testing, processing, storage, and distribution of blood and blood components.
These guidelines ensure greater quality and safety of whole blood and its components to prevent transmission of diseases and also highlight necessary measures for their collection and distribution.
In October 2022, Pfizer, a Us-based pharmaceuticals company, acquired Global Blood Therapeutics for an undisclosed amount.The acquisition will strengthen sickle cell disease capabilities of Pfizer and maintain its 30 year old legacy.
Global Blood Therapeutics is a US-based developer of treatments related to blood diseases and especially sickle cell disease.
The countries covered in the blood and blood components market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.
The market value is defined as the revenues that enterprises gain from goods and/or services sold within the specified market and geography through sales, grants, or donations in terms of currency (in USD ($) unless otherwise specified).
The revenues for a specified geography are consumption values – that is, they are revenues generated by organizations in the specified geography within the specified market, irrespective of where they are produced. It does not include revenues from resales either further along the supply chain or as part of other products.
The blood and blood components market research report is one of a series of new reports that provides blood and blood components market statistics, including blood and blood components industry global market size, regional shares, competitors with a blood and blood components market share, detailed blood and blood components market segments, market trends and opportunities, and any further data you may need to thrive in the blood and blood components industry. This blood and blood components market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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