PUBLISHER: Global Industry Analysts, Inc. | PRODUCT CODE: 1777870
PUBLISHER: Global Industry Analysts, Inc. | PRODUCT CODE: 1777870
Global Blood and Blood Components Market to Reach US$14.8 Billion by 2030
The global market for Blood and Blood Components estimated at US$13.0 Billion in the year 2024, is expected to reach US$14.8 Billion by 2030, growing at a CAGR of 2.2% over the analysis period 2024-2030. Blood Components, one of the segments analyzed in the report, is expected to record a 2.8% CAGR and reach US$8.6 Billion by the end of the analysis period. Growth in the Whole Blood Type segment is estimated at 1.5% CAGR over the analysis period.
The U.S. Market is Estimated at US$3.5 Billion While China is Forecast to Grow at 4.4% CAGR
The Blood and Blood Components market in the U.S. is estimated at US$3.5 Billion in the year 2024. China, the world's second largest economy, is forecast to reach a projected market size of US$2.8 Billion by the year 2030 trailing a CAGR of 4.4% over the analysis period 2024-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 0.7% and 1.7% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 1.2% CAGR.
Global Blood and Blood Components Market - Key Trends & Drivers Summarized
Why Is the Demand for Blood and Blood Components Increasing Across Healthcare Systems?
Blood and blood components play a critical role in modern medicine, serving as life-saving therapeutic products in surgeries, trauma care, cancer treatments, and chronic disease management. With the increasing prevalence of conditions such as anemia, hemophilia, leukemia, and other hematologic disorders, the global demand for blood products-including red blood cells (RBCs), platelets, plasma, and clotting factors-continues to rise. Additionally, advancements in medical procedures, including organ transplants, complex surgeries, and aggressive chemotherapy treatments, have further elevated the need for a stable and efficient blood supply.
Blood transfusion remains a fundamental component of emergency medicine, particularly in response to accidents, battlefield injuries, and maternal hemorrhage during childbirth. Moreover, the growing geriatric population, which is more susceptible to blood-related disorders, has contributed to an increasing reliance on blood components. Despite the rising demand, challenges such as blood shortages, donor recruitment, and concerns over transfusion-transmitted infections (TTIs) persist. To address these issues, healthcare organizations, blood banks, and biotech firms are exploring innovative solutions, including artificial blood substitutes, pathogen reduction technologies, and advanced blood storage techniques.
How Are Technological Advancements Enhancing Blood Collection, Processing, and Storage?
Innovations in blood processing and transfusion medicine are significantly improving the safety, efficiency, and availability of blood and blood components. One of the most impactful advancements is the development of pathogen reduction technologies (PRTs), which help eliminate viruses, bacteria, and parasites from blood products, reducing the risk of transfusion-transmitted infections. These technologies, including UV light-based pathogen inactivation and solvent-detergent plasma treatment, are enhancing the safety profile of blood transfusions worldwide.
Another breakthrough in the blood industry is the introduction of automated apheresis systems, which allow for the selective collection of specific blood components such as plasma, platelets, or red blood cells while returning the remaining blood to the donor. Apheresis not only improves donor retention but also increases the efficiency of blood collection by reducing the need for whole blood donations. Additionally, advancements in cryopreservation and extended blood storage techniques are addressing supply chain challenges, ensuring that blood components remain viable for longer durations, especially in remote or disaster-stricken regions. The ongoing development of synthetic blood substitutes, including hemoglobin-based oxygen carriers (HBOCs) and perfluorocarbon-based (PFC) blood substitutes, holds promise for emergency transfusions and military applications, potentially reducing dependency on donor blood supplies.
Which Market Trends Are Driving Growth in the Blood and Blood Components Industry?
The global blood and blood components market is expanding due to a combination of rising disease prevalence, increasing surgical procedures, and improvements in healthcare infrastructure. One of the most prominent trends shaping the industry is the growing emphasis on plasma-derived therapies. Plasma fractionation has become a key area of investment, as plasma-derived products are essential in treating immunodeficiency disorders, hemophilia, and neurological conditions. With rising demand for immunoglobulins, albumin, and clotting factors, biopharmaceutical companies are expanding plasma collection networks and investing in large-scale fractionation facilities.
Another key trend influencing the market is the shift toward voluntary and non-remunerated blood donation policies. Many countries are implementing initiatives to improve donor recruitment and retention through awareness campaigns, incentives, and digital engagement strategies. Additionally, the integration of blockchain and digital tracking systems in blood supply chains is enhancing transparency, reducing wastage, and improving traceability in blood banking. The expansion of personalized medicine and regenerative therapies is also driving interest in autologous blood transfusions, where a patient’s own blood is collected and reinfused during surgeries or cancer treatments. As healthcare systems prioritize efficiency and safety, the adoption of digital blood management solutions and advanced donor screening techniques is expected to further streamline blood collection and distribution.
What Are the Key Growth Drivers Shaping the Future of the Blood and Blood Components Market?
The growth in the blood and blood components market is driven by several critical factors, including the increasing burden of chronic diseases, advancements in transfusion medicine, and rising investments in blood safety and supply chain optimization. One of the primary growth drivers is the expanding number of surgical procedures and trauma cases, necessitating a reliable blood supply. With an increasing number of elective and emergency surgeries being performed worldwide, hospitals and healthcare providers are investing in blood banking and transfusion services to ensure availability during critical interventions.
Another crucial driver shaping the market is the growing demand for plasma-derived therapeutics. The biopharmaceutical industry’s focus on immunodeficiency treatments, hemophilia care, and novel plasma-based therapies has led to increased plasma collection efforts and research into recombinant alternatives. Additionally, the adoption of advanced donor screening technologies, including nucleic acid testing (NAT) and AI-driven risk assessment models, is improving blood safety and reducing the incidence of transfusion-related complications. As governments and healthcare organizations strengthen regulatory frameworks for blood donation, processing, and transfusion practices, the market is poised for continued expansion. With ongoing innovations in synthetic blood substitutes, pathogen reduction strategies, and digital health integration, the future of the blood and blood components industry will be defined by enhanced safety, efficiency, and accessibility, ensuring better patient outcomes worldwide.
SCOPE OF STUDY:
The report analyzes the Blood and Blood Components market in terms of units by the following Segments, and Geographic Regions/Countries:
Segments:
Product Type (Blood Components, Whole Blood Type); Application (Anemia Application, Trauma and Surgery Application, Cancer Treatment Application, Bleeding Disorders Application, Other Applications); End-Use (Hospitals End-Use, Ambulatory Surgical Centers End-Use, Other End-Uses)
Geographic Regions/Countries:
World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; Spain; Russia; and Rest of Europe); Asia-Pacific (Australia; India; South Korea; and Rest of Asia-Pacific); Latin America (Argentina; Brazil; Mexico; and Rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and Rest of Middle East); and Africa.
Select Competitors (Total 34 Featured) -
AI INTEGRATIONS
We're transforming market and competitive intelligence with validated expert content and AI tools.
Instead of following the general norm of querying LLMs and Industry-specific SLMs, we built repositories of content curated from domain experts worldwide including video transcripts, blogs, search engines research, and massive amounts of enterprise, product/service, and market data.
TARIFF IMPACT FACTOR
Our new release incorporates impact of tariffs on geographical markets as we predict a shift in competitiveness of companies based on HQ country, manufacturing base, exports and imports (finished goods and OEM). This intricate and multifaceted market reality will impact competitors by increasing the Cost of Goods Sold (COGS), reducing profitability, reconfiguring supply chains, amongst other micro and macro market dynamics.