Blood And Blood Components Market Analysis, Share And Growth 2025 To 2034

Created for forward-thinking professionals, this report equips teams with the insights needed to compete effectively in the blood and blood components space.

How Fast Is The Blood And Blood Components Market Growing Towards 2025?
The blood and blood components market size has grown steadily in recent years. It will grow from $41.36 billion in 2024 to $43 billion in 2025 at a compound annual growth rate (CAGR) of 4.0%. The growth in the historic period can be attributed to increasing incidence of trauma and road accidents, increased aging population, increased earnings and standard of living, increased healthcare expenditure, and rising awareness about blood donation.

The blood and blood components market size is expected to see strong growth in the next few years. It will grow to $52.8 billion in 2029 at a compound annual growth rate (CAGR) of 5.3%. The growth in the forecast period can be attributed to an increase in chronic diseases, government initiatives, and increasing demand for whole blood. Major trends in the forecast period include focusing on collaboration with other players, launching innovative products, focusing on research and development (R&D) activities, using IoT-based products to avoid the contamination of blood and blood components, and focusing on the management of blood transfusion.

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Blood And Blood Components Market Drivers And Opportunities
The blood and blood components market is being driven by the 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. All these conditions demand transfusion of blood and blood components into the patient's body. For instance, in 2023, according to the Transport Accident Commission, an Australia-based government agency, in 2023 a total of 295 people lost their lives on Victorian roads, marking a 22.4% increase (54 more fatalities) compared to 2022. Additionally, there were 261 fatal crashes, up by 22 (9%) from the 239 recorded in the previous year. The growing prevalence of diseases and increasing numbers of road accidents and traumas are increasing the demand for blood and thus driving the market.

How Is The Blood And Blood Components Market Segmented?
The blood and blood componentsmarket covered in this report is segmented –

1) By Product: Whole Blood, Blood Components
2) By Blood Components: Red Blood Cells, Platelets, Plasma, White Blood Cells
3) By End-User: Hospitals, Ambulatory Surgical Centers, Others
4) By Application: Anemia, Trauma and Surgery, Cancer Treatment, Bleeding Disorders

Subsegments:
1) By Whole Blood: Donor Whole Blood; Autologous Whole Blood
2) By Blood Components: Red Blood Cells (RBCs); Platelets; Plasma; White Blood Cells (WBCs)

What Are The Future Trends Of The Blood And Blood Components Market?
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 to expand their reach, increase customer base, and generate awareness in the market. For example, the American Red Cross collaborated with HealthStream to introduce a new program for healthcare organizations. Similarly, the Blood Center of Wisconsin collaborated with SysLogic Inc., to study how the RFID technology can be used to enhance the safety of the patient while collecting and transfusing blood products.

Major Companies Operating In The Blood And Blood Components Market Are:
Major companies operating in the blood and blood components market include American Red Cross, The Japanese Red Cross Society, Canadian Blood Services, Australian Red Cross, and Vitalant, SANQUIN BLOOD SUPPLY FOUNDATION, New York Blood Center, Blood Bank of Alaska, Blood Centers of America, Xinjiang Deyuan Bioengineering, Harbin Pacific Biopharmaceutical, Southern Shuanglin Bio-Pharmacy, Beijing Tiantan Biological Products, Shanghai RAAS Blood Products, China Biologic Products, Hualan Biological Engineering, Biotest AG, Lorne Laboratories UK, LMB Germany, Bio Products Laboratory Ltd, Clinical Trials Laboratory Services (CTLS), Roche, Hemanext Inc, Kedrion Biopharma, KalVista Pharmaceuticals, Personal Genome, Cellphire, Inc., Immuno-Mycologics INC, CSL Behring, Nordson Corporation, Octapharma Canada Inc., Abbott Laboratories, Grifols, Nipro Medical Corporation, Becton, Dickinson and Company

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Regional Analysis: Opportunities And Challenges In The Blood And Blood Components Market
North America was the largest region in the blood and blood components market in 2024. Western Europe was the second largest region in the global blood and blood components market analysis. The regions covered in the blood and blood components market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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