The Global Market for Blood Banking and Blood Products is Projected to Reach US$41.9 Billion by 2020

Strong Focus on Pathogen-Free Blood Supply Drives Growth in the Global Blood Banking and Blood Products Market, According to a New Report by Global Industry Analysts, Inc.

GIA launches comprehensive analysis of industry segments, trends, growth drivers, market share, size and demand forecasts on the global Blood Banking and Blood Products market. The global market for Blood Banking and Blood Products is projected to reach US$41.9 billion by 2020, driven by the steady progress towards achieving pathogen-free blood supply amidst the growing threat of blood-borne diseases such as hepatitis and HIV.

The blood banking and blood products industry encompasses a wide range of technologies, products and services for the collection, qualification, processing, storage and final delivery of blood products to patients. The growth in the market is driven by a host of factors including technological advancements, introduction of innovative products, rise in blood transfusion procedures among the elderly and the chronically ill, and strong promotional campaigns undertaken by various collection agencies for encouraging blood donation. Epidemic rise in cancer and the ensuing spurt in cancer treatment procedures and rapid increase in complex surgical procedures such as open heart and orthopedic surgeries, also bode well for market growth. Rising incidence of a number of infectious diseases such as hepatitis and HIV, and aging population are spurring the need for pathogen or infection-free blood. Implementation of stringent regulations along with the increased focus of medical device manufacturers on developing automated, improved solutions to collect, process and store blood and its components are fuelling growth in the blood processing market.

Plasma continues to be the major blood component. Besides serving as a liquid exchange medium for body fluid, hormones, antibodies, nutrients, and numerous proteins including immunoglobulin and albumin, plasma plays a key role in regulating blood pressure and body temperature. The increasing cases of life-threatening conditions such as hemophilia, autoimmune disorders, and liver function impairment requiring infusion of plasma or derivative products, is  a key factor driving demand for plasma, plasma derivatives and plasma based medications. Progressive strides in the biomedical and healthcare sectors are unlocking new growth opportunities for plasma products. Despite the opportunities, mounting regulatory and cost pressures on plasma producers are challenging growth in the market. Other factors challenging growth include growing popularity of minimally invasive surgeries and increased adoption of advanced surgical techniques that reduce surgical bleeding and thereby the need for transfusion.

The development of fast and high-precision instruments for extraction, collection and fractionation of blood and blood components will bolster growth prospects. Among the two apheresis procedures, automated blood collection that finds application in blood banks constitutes over three-fourths of the overall market, while therapeutic apheresis, which is primarily used by bio-laboratories and hospitals accounts for the remainder. The provision of transfusions in non-hospital settings although still an unresolved issue, is nevertheless a high potential avenue for growth. High-quality out-of-hospital transfusion is not only suitable but also preferable to inpatient care.

As stated by the new market research report on Blood Banking and Blood Products, the United States represents the largest market worldwide. The country will continue to remain a key market in the medium term supported by the efforts of the domestic healthcare institutions and care providers to reduce the risk of transfusion infections by adopting advanced blood management techniques. Asia-Pacific is poised to record fastest CAGR of 9.1% over the analysis period, led by factors such as improving healthcare infrastructure and increasing per capita healthcare spending. 

Major blood banks covered in the report include AABB, America’s Blood Centers, American Red Cross, Canadian Blood Services, Japan Red Cross Society, New York Blood Center, and Sanquin Blood Supply Foundation. The report also profiles leading players of blood bank technology/ supplies and plasma fractionation that include Abbott Diagnostics, Inc., Beckman Coulter, Inc., Becton, Dickinson and Company, bioMérieux SA, Bio-Rad Laboratories, Inc., Cerus Corporation, CSL Behring LLC, Fresenius Kabi AG, Gen-Probe, Inc., Haemonetics Corporation, Immucor Inc., Kawasumi Laboratories, Inc., MacoPharma SA, Ortho-Clinical Diagnostics, Inc., Terumo BCT Inc., Baxter International Inc., Beijing Tiantan Biological Products Co., Ltd., Bharat Serums and Vaccines Ltd., Bio Products Laboratory Ltd., Biotest AG, China Biologic Products, Inc., Grifols S.A., Huanlan Biological Engineering Inc., Kedrion S.p.A., LFB Group, Octapharma AG, OMRIX Biopharmaceuticals Ltd., Shanghai RAAS Blood Products Co., Ltd., and Sichuan Yuanda Shuyang Pharmaceutical Co., Ltd., among others. 

The research report titled “Blood Banking and Blood Products: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, issues, drivers, mergers, acquisitions and other strategic industry activities of global companies. The report provides market estimates and projections in US$ Millions for all major geographic markets such as US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia, and Rest of Europe), Asia-Pacific (China, and Rest of Asia-Pacific), Latin America (Brazil and Rest of Latin America), and Rest of World. The report also provides value analytics for the following product group/types – Blood Components & Plasma Products (Whole Blood & Cellular Components, and Plasma Fractions); and Equipment, Blood Tests & Other Consumables.

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