Global Blood Product Market Size By Product Type (Platelets, Fresh Frozen Plasma (FFP)), By End-Use (Hospitals, Blood Station), By Geographic Scope And Forecast

Blood Product Market Size And Forecast

Blood Product Market size was valued at USD 38.16 Billion in 2024 and is projected to reach USD 54.43 Billion by 2031, growing at a CAGR of 4.54% during the forecast period 2024-2031. The growing prevalence of blood-related disorders and demand for blood-related products are boosting the growth of the Blood Product Market. In addition, the increasing geriatric population is prominently driving the growth of the Blood Product Market. The Global Blood Product Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.

Global Blood Product Market Definition

Blood Product is any component or part of blood that is collected from a donor for substituting the same in patients. Not every patient requires a transfusion of whole blood, many only require certain components of blood for transfusion. To meet such cases, several blood components are separated from the whole blood. The blood products include platelets, red blood cells (RBCs), white blood cells (WBCs), fresh frozen plasma (FFP), clotting factors, and many others. Depending on the condition, an individual is administered a particular blood product.

Blood is an essential connective fluid of the body that supplies nutrients and oxygen to the organs of the body. Blood products are classified as blood components and plasma-derived products. Blood components include red cells, cryoprecipitate, and fresh frozen plasma while plasma components include albumin, coagulation factors, and immunoglobulin. Plasma derivatives come under the medicines act, which must be prescribed by licensed practitioners as whole blood transfusion is rare now, and blood components are making more sense while transferring to the patient.

Each component of blood must be stored under identical conditions such as red blood cells must be stored in the refrigerator at a specified temperature. as per blood safety and quality, regulation collected blood must be labeled with appropriate information that must be in readable form and barcoded form. 405-495mL of blood can be collected from one donor and then it is collected in 63 mL of citrate phosphate dextrose ad anticoagulant. All donated whole blood was filtered to remove white blood cells.

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Global Blood Product Market Overview

Blood is an essential component of the body. increasing blood disorders and other medical conditions such as leukemia, cancer, and the end stage of renal disorders require blood transfusion other than this, trauma and any kind of serious injury in which there is huge blood loss demand blood transfusion.in addition, some major surgeries also lead to blood loss thus, there has been more demand for blood and plasma components. Furthermore, the Blood Product Market is prominently driven by key market players that offers reagent for testing, and screening devices along with a system to perform a test of blood that is being donated.

Moreover, the increasing geriatric population across the globe and government initiatives and regulations for blood screening are anticipated to boost the Blood Product Market. Also, awareness about blood donation among people is another factor responsible for accelerating market growth. On the other side, the high cost associated with advanced blood collection and the lack of skilled laboratory people is restricting the growth of the Blood Product Market.

Global Blood Product Market: Segmentation Analysis

The Global Blood Product Market is segmented on the basis of Product Type, End-Use, and Geography.

Blood Product Market, By Product Type

• Platelets
• Fresh Frozen Plasma (FFP)
• Red Blood Cells (RBCs)
• White Blood Cells (WBCs)
• Others

Based on Product Type, the market is bifurcated into Platelets, Fresh Frozen Plasma (FFP), Red Blood Cells (RBCs), White Blood Cells (WBCs), and Others. The red blood cell segment is expected to hold the largest share in the market as it is given to newborns, sickle cell anemia patients, and emergency transfusions during pregnancy, trauma patients. Increasing such medical conditions is driving the growth of the market.

Blood Product Market, By End-Use

• Hospital
• Blood Station
• Others

Based on End-Use, the market is bifurcated into Hospital, Blood Station, and Others. Blood station is expected to hold the largest market share due to a surge in the number of blood station and a large amount of blood is received in blood station by donors. in addition, the rise in the demand for blood and plasma is driving the demand for blood components.

Blood Product Market, By Geography

• North America
• Europe
• Asia Pacific
• Rest of the world
• On the basis of Geography, The Global Blood Product Market is classified into North America, Europe, Asia Pacific, and Rest of the world. The largest share in the market will be dominated by North America Blood Product Market growth in North America is driven by many factors such as the easy availability of reagents, consumables, and systems required for blood collection and the rise in awareness of blood donation in the region.

Key Players

• The "Global Blood Product Market" study report will provide valuable insight with an emphasis on the global market. The major players in the market are
• CSL, Octapharma AG, Kedrion S.p.A, Mitsubishi Tanabe Pharma Corporation, and BPL Inc.

Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with its product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.

Key Developments

• Partnerships, Business Expansion, and Product Launch
• In Dec 2020, CSL Behring enters into a collaboration agreement with Biopole. The collaboration aims to connect the Biopole ecosystem and its start-ups to this global biotechnology. CSL and its REI team will highlight their key goal of increasing global collaboration on external early projects to feed and support growth through this partnership.
• In March 2021, Mitsubishi Tanabe Pharma America, Inc. (MTPA) recently announced that Mitsubishi Tanabe Pharma Holdings America, Inc. (MTHA) intends to establish a new NeuroDiscovery Lab in Cambridge, Mass., a biotechnology hub in the United States. The research facility will serve as a North American hub for identifying and collaborating on precision medicine and new drug development for central nervous system (CNS) diseases, specifically amyotrophic lateral sclerosis (ALS).
• In Aug 2021, BPL Introduces An Innovative Line Of Smartly Designed Consumer Electronics Intended To Satisfy Even The Most Strict Customers.
• In Aug 2021, Reliance Retail will manufacture BPL and Kelvinator products. Reliance Retail has obtained the right to manufacture and sell consumer durable goods under the BPL and Kelvinator brands. The move will also allow Reliance Retail to enter the electrical market, and the agreement with BPL will be announced soon, while the agreement with Kelvinator has already been announced.
• Mergers and Acquisitions
• In Jan 2022, Kedrion will be acquired by Permira, which has merged with BPL and plans to take a minority stake in the combined company.