Market Research Report
Global Blood Market Forecast 2019-2028
|Published by||Inkwood Research||Product code||952506|
|Published||Content info||189 Pages
Delivery time: 2-3 business days
|Global Blood Market Forecast 2019-2028|
|Published: August 3, 2020||Content info: 189 Pages||
The global blood market is estimated to grow with a CAGR of 4.16% across the forecast years of 2019 to 2028. Primary factors attributed to driving the market growth include, the increase in the worldwide demand for blood and blood-related products, the growing geriatric population, rise in blood and plasma donations, developments in blood transfusion and screening instruments, and the introduction of government regulations for blood screening.
The global blood market entails the sale of whole blood as well as blood components using diverse mediums like, hospitals, and blood banks, among others. Blood transfusion is typically performed in medical facilities during disease treatments and surgeries, and involves the red blood cells' transfer from one person to another. The donor's blood is collected and then categorized in terms of requirements and components. Since the transfusion process only requires blood components, an entire unit of blood is seldom used.
In recent years, there has been a rapid increase in the geriatric population across the world. Consequently, they are more susceptible to numerous chronic conditions like cardiovascular diseases, type 2 diabetes, arthritis, and obesity. The elderly are also prone to distinct types of cancers like prostate and stomach cancer. Thus, the predisposition to various medical complications, leads to the need for blood and source plasma treatments. As a result, the rise in geriatric populace is expected to raise the demand for blood and plasma collecting reagents and instruments and bolster the market growth.
The geographical analysis of the global blood market growth includes the Asia Pacific, North America, Europe, and the rest of the world. Developing economies in the Asia Pacific blood market is witnessing an increasing number of patients suffering from chronic ailments and developments within healthcare institutions. As a result, the region offers profitable opportunities for key market players, especially in the blood collection equipment division.
The industrial rivalry within the global blood market is estimated to be high across the forecast period. The intense competition is attributed to the rise in healthcare expenses, and the increased prevalence of chronic diseases that require a blood transfusion. Some of the renowned companies in the market include, Bio-Rad Laboratories Inc, Immucor Inc, Abbott Laboratories, CSL Limited, etc.