Press Release

Blood Preparation Market to Grow with a CAGR of 5.74% through 2028

Rising advancements in blood testing and screening are expected to drive the Global Blood Preparation Market growth in the forecast period, 2024-2028.

 

According to TechSci Research report, “Blood Preparation Market – Global Industry Size, Share, Trends, Competition Forecast & Opportunities, 2028”, the Global Blood Preparation Market stood at USD 39.12 billion in 2022 and is anticipated to grow with a CAGR of 5.74% in the forecast period, 2024-2028. The global blood preparation market is undergoing significant growth, driven by a confluence of factors that emphasize the importance of blood and blood-related products in modern healthcare. With the rising prevalence of chronic diseases, the increasing need for safe and efficient blood products, and innovations in blood preparation technologies, this market is on a trajectory of expansion. Surgical procedures are another major contributor to the demand for blood preparation products. Surgeries, whether planned or emergency, frequently require blood transfusions to replace lost blood, manage bleeding disorders, or support patients with various medical conditions. The increasing number of surgical interventions globally, including cardiac surgeries, organ transplants, and trauma surgeries, is boosting the demand for blood preparations to cater to the transfusion needs of patients during and after these procedures.

Blood safety is a paramount concern in healthcare. Ensuring that blood and blood products are free from infections and diseases is critical. Advancements in blood testing and screening technologies have led to more accurate and efficient methods for detecting infectious agents, such as HIV, hepatitis, and various other bloodborne pathogens. These innovations have not only improved the safety of blood products but also reduced the risk of transfusion-related complications, thereby driving the demand for blood preparation products that adhere to the latest quality and safety standards.

The blood preparation process has evolved significantly over the years. Automation and advanced equipment have improved the efficiency and reliability of blood collection, separation, and storage. Automated systems are capable of processing large volumes of blood components with precision, reducing the margin of error and the risk of contamination. The adoption of these cutting-edge technologies enhances the overall quality and safety of blood products, ensuring that they meet the highest regulatory standards.

 

Browse over XX market data Figures spread through XX Pages and an in-depth TOC on "Global Blood Preparation Market

 

The global demographic landscape is shifting, with an increasing proportion of the population being composed of 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 shift is a significant driver of the global blood preparation market, as it ensures a steady and growing need for blood products.

The Global Blood Preparation Market is segmented into Product, Type, Application, Regional Distribution, And Company.

Based on the Product, blood derivatives emerged as the dominant segment in the global market for Global Blood Preparation Market in 2022. Using blood components, as opposed to whole blood, reduces the risk of transfusion-related complications. When patients receive only the specific component they require, it minimizes the chances of receiving unnecessary components that may lead to adverse reactions or other complications. This approach aligns with a focus on patient safety and targeted therapy. Blood components help optimize the use of the available blood supply. Rather than transfusing whole units of blood, healthcare providers can divide donated blood into its components, allowing for the efficient allocation of resources. This optimization is especially critical in situations where the supply of whole blood is limited. Blood components have a longer shelf life compared to whole blood. Red blood cells, for example, can be stored for an extended period, allowing for better inventory management and minimizing wastage. This is particularly important for blood banks and healthcare facilities, as it helps maintain a consistent supply of blood components.

Based on the Application, Pulmonary Embolism emerged as the dominant segment in the global market for Global Blood Preparation Market in 2022. Pulmonary embolism is a life-threatening medical emergency that occurs when blood clots block the pulmonary arteries in the lungs. To treat this condition effectively, patients often require immediate anticoagulation therapy, which involves the use of blood preparation products like anticoagulants. The critical nature of pulmonary embolism makes it a high-priority application within the blood preparation market. Blood preparation products are also employed as preventive measures for patients at high risk of pulmonary embolism. Individuals undergoing surgery, especially major procedures like orthopaedic surgeries or those with known risk factors, may be given anticoagulants before or after surgery to prevent clot formation and reduce the risk of pulmonary embolism. This prophylactic use drives the demand for blood preparation products.

Pulmonary embolism is a relatively common condition, and its prevalence is increasing due to factors like aging populations and sedentary lifestyles. As the global population ages and lifestyle-related health issues become more prevalent, the demand for blood preparation products to manage and prevent pulmonary embolism is on the rise.

North America emerged as the dominant player in the global Blood Preparation Market in 2022, holding the largest market share. The region is a hub for medical research and innovation, leading to the development of cutting-edge blood preparation technologies. Advancements in automation, nucleic acid testing, and specialized blood components are commonplace, ensuring the highest level of quality and safety in the blood supply. North America has a high prevalence of chronic diseases, including cardiovascular conditions, cancer, and diabetes, which often necessitate blood transfusions and specialized blood preparation products. The growing incidence of chronic diseases in the region increases the demand for these products. North America has one of the highest healthcare expenditures in the world. This substantial investment in healthcare infrastructure and services ensures that patients have access to advanced medical procedures that often involve blood preparation, further fueling the market's growth. The region has well-established mechanisms for managing blood shortages. Blood banks and healthcare providers implement efficient strategies to maintain a consistent supply of blood and blood products, ensuring that patients' needs are met.

 

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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