In 2020, the global Blood Preparation Market was valued at USD 41.30 billion, and it is projected to exhibit a compound annual growth rate (CAGR) of 5.8% during the forecast period. This market is expected to experience significant growth in the coming years due to several favorable factors. Key drivers include the increasing elderly population worldwide, a rise in the prevalence of blood-related disorders, a growing number of blood transfusion procedures, and the extensive utilization of blood and its components in various surgical interventions.
Moreover, the global blood preparation market is presented with additional growth opportunities due to factors such as the escalating incidence of blood-clotting disorders, advancements in anti-thrombotic and anti-coagulant medications, and the expanding applications of blood derivatives like platelet-rich plasma in blood transfusions and Anti-Aging therapies.
Blood preparation refers to the process of separating different blood components, including plasma, platelets, Red Blood Cells (RBCs), and White Blood Cells (WBCs). This process was initially developed in 1960 and involves the use of a specialized equipment called a refrigerated centrifuge to separate blood components from whole blood. Whole blood consists of cells, crystalloids, and colloids that can be divided into various blood components, such as frozen plasma, platelet concentrates, Packed Red Blood Cell (PRBC) concentrates, and cryoprecipitate.
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Companies Profiled in the Report:
The most prominent companies operating in the global blood preparation market include: GlaxoSmithKline PLC, Johnson Johnson, Leo Pharma Inc., Pfizer Inc., Celgene Corp, Baxter Healthcare Corp., Boehringer Ingelheim, Sanofi Aventis, Aralez Pharmaceuticals, Bristol-Myers Squibb Co., Shandong East Chemical Industry Co., Ionis Pharmaceuticals, Daiichi Sankyo, Bayer AG, and AstraZeneca Co. These market players have been undertaking various strategic initiatives such as mergers acquisitions, collaborations, joint ventures, and new business deals, to strengthen their market positions.
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Driving Factors:
- Growing Geriatric Population: The increasing elderly population worldwide is a significant driving factor for the blood preparation market. The elderly are more prone to blood-related disorders and often require blood transfusions, leading to a higher demand for blood preparation.
- Rising Prevalence of Blood-Related Disorders: The rising incidence of blood-related disorders, such as anemia, hemophilia, and leukemia, is driving the demand for blood preparation. These conditions often require transfusions of specific blood components, driving the market growth.
- Increasing Number of Blood Transfusion Procedures: The growing number of blood transfusion procedures, both in emergency situations and for various medical treatments, is fueling the demand for blood preparation. This includes transfusions required during surgeries, trauma cases, and treatments for chronic diseases.
- Extensive Usage of Blood Components in Surgical Procedures: Blood and its components are extensively used in various surgical procedures, such as cardiovascular surgeries and organ transplants. The demand for blood preparation is driven by the need for specific blood components during these surgeries.
Restraints:
- Stringent Regulatory Framework: The blood preparation market is subject to strict regulations and guidelines imposed by regulatory bodies to ensure the safety and quality of blood products. Compliance with these regulations can be challenging and may act as a restraint for market growth.
- Risk of Transmitted Infections: Despite stringent screening processes, there is always a risk of transmitted infections through blood transfusions. Concerns regarding the safety and potential transmission of infectious diseases may restrain the growth of the blood preparation market.
- High Cost of Blood Preparation: Blood preparation involves complex processes and specialized equipment, leading to high production costs. The high cost of blood preparation products may limit their accessibility, particularly in developing regions with limited healthcare resources.
- Limited Availability of Blood Donors: The availability of blood donors is a crucial factor for the blood preparation market. In some regions, there may be challenges in recruiting an adequate number of blood donors, resulting in a limited supply of blood components.
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