The Global Market for Blood Banking and Blood Products is Projected to Reach US$45.8 Billion by 2022
Increase in Disease Burden & Commercialization of Blood
Donation Drive Growth in the Global Blood Banking & 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$45.8
billion by 2022, driven by the rising disease burden and a parallel increase
in demand for immunoglobulins and plasma derivatives, and commercialization of
blood donation and the resulting establishment of wide networks of collection
agencies dependent on paid donations.
The global market for blood
banking and blood products is exhibiting healthy trend owing to the aging
population, rise in chronic diseases and steep rise in healthcare expenditures.
Regulatory and healthcare bodies across the world are adopting stringent
policies relating to blood safety, and hence manufacturers the world over are
developing improved, safer, and advanced blood-banking technologies for
collection, processing and delivery of blood products. The growth in the market
is also driven by factors such as technological advancements and the advent of
innovative products, increased disease diagnosis rates and well as new emergence
of new therapies including apheresis therapy, better pricing environment for blood proteins
in some markets and
the strong promotional campaigns undertaken by various collection agencies for
encouraging blood donation. In addition, the growing popularity of synthetic
blood products is driving growth in the blood processing market. Epidemic rise in cancer and
the ensuing spurt in its treatment procedures and rapid increase in complex
surgical procedures such as open heart and orthopedic surgeries also bode well
for market growth.
Owing to its rich composition and versatile
functions, plasma continues to be the major blood component as it also serves
as a liquid exchange medium for body fluid, hormones, antibodies, nutrients,
and numerous proteins including immunoglobulin and albumin. The outlook for plasma
derivatives remains positive, with major plasma products such as immunoglobulins,
alpha 1 and albumin expected to witness sizable growth in the near term. Recombinants
dominate the hematology market with a two-thirds
share, while phasmatic accounts for the rest. Major indications include
Hemophilia A and Inhibitor bleed therapy. Plasma-derived FVIII has grown at a low
single-digit growth over the past three decades, while recombinants grew at a
sizably higher rate. Ensuring product safety is one of the major
challenges for the blood and blood banking industry, particularly with blood
transfusion being a significant channel for transmitting dangerous infections
such as HIV. To deal with this, companies across the globe are developing
simple, safe, affordable, effective, and reliable technologies to reduce the
risk of blood transfusion by inactivating and reducing a wide range of
pathogens, without damaging the components of blood products.
As stated by the new market research report on Blood
Banking and Blood Products, Europe represents the largest market
worldwide supported by well-developed and coordinated healthcare infrastructure;
high standard of care; favorable reimbursement
policies; adoption of advanced technologies; and government support. Asia-Pacific is poised to record the
fastest CAGR of 8.1% over the analysis period, led by growing population and healthcare burden; rising standards
of living, increasing disposable income and growing per capita healthcare
spending; huge unmet patient needs and largely underserved blood services; development
of public and private healthcare infrastructure including establishment of
blood services networks and banks; and rise in medical tourism in low cost
Asian countries.
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, Sanquin Blood Supply Foundation. The report also
profiles leading players of blood bank technology/ supplies and plasma
fractionation that include Abbott Laboratories, Beckman Coulter Inc., Becton,
Dickinson and Company, bioMérieux SA, Bio-Rad Laboratories Inc., Cerus
Corporation, CSL Behring LLC, Fresenius Kabi AG, Fenwal Inc., Haemonetics
Corporation, Immucor Inc., Kawasumi Laboratories Inc., MacoPharma SA,
Ortho-Clinical Diagnostics Inc., Terumo BCT 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, Shanghai
RAAS Blood Products Co. Ltd., Shire plc, 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 volume
analytics (in units) for the global market for Blood Components & Plasma
Products; and Red Blood Cells.
Global Industry Analysts, Inc. 6150 Hellyer Ave., San Jose CA 95138, USA,
All Rights Reserved.
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