Global Blood Transfusion Market Share Is Likely To Grow At A CAGR Value Of Around 6.90% By 2028

01-Aug-2022 | Facts and Factors

According to Facts and Factors, the global Blood Transfusion market size was worth USD 4.1 billion in 2021 and is estimated to grow to about USD 6.1 billion by 2028, with a compound annual growth rate (CAGR) of approximately 6.90% over the forecast period. The report analyzes the Blood Transfusion Market’s drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the Blood Transfusion Market.

Global Blood Transfusion Market Size

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Transfusion of blood is the process of putting blood or blood components intravenously into the bloodstream. In order to maintain blood levels and the blood components in the body, transfusions are performed for a variety of medical disorders such as anaemia, sickle cell disease, a bleeding illness like haemophilia, or cancer when the blood components are lost. Both one's own blood and other people's blood are used in blood transfusions. The key drivers of the market include elements like the increase in accidents, trauma cases, surgical procedures, and blood illnesses. Owing to the rise in demand for Blood Transfusion, the global blood transfusion market is estimated to grow at a CAGR of 6.90% during the forecast period.

Browse the full “ Blood Transfusion Market Size, Share, Growth Analysis Report By Product (Reagents & Kits, Instruments and Others), By Application (Blood Grouping and Disease Screening), By End-User (Hospitals, Blood Banks, Diagnostic Laboratories and Others), and By Region-Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecast 2022 – 2028" report at https://www.fnfresearch.com/blood-transfusion-market

The prevalence of anaemia, leukopenia, leukocytosis, erythrocytosis, and thrombocytosis is increasing, which is assisting in the market's growth. The need for blood transfusions is expanding throughout the world as a result of natural disasters and extensive casualties. The global market is being driven by the rising use of blood transfusion in the paediatric, adult, and elderly populations. A blood transfusion system's negative side effects, such as virus and infection illnesses that cause fever, allergic reactions, and blood borne diseases, are predicted to restrain this market's growth. The global market for blood transfusions in developing countries is being constrained by a lack of infrastructure and expensive equipment.

Segmental Overview

The global blood transfusion market is segregated based on product, application, end-use, and region. Based on product, the market is categorized into Reagents & Kits, Instruments and Others. Among these, the reagents & kits dominate the market, accounting for more than 65.8% of global sales in 2021. Based on application, the market is classified into Blood Grouping and Disease Screening. Over the forecast period, the disease screening segment is expected to develop at the fastest rate, accounting for more than 60% of global sales in 2021. Based on end-use, the market is classified into Hospitals, Blood Banks, Diagnostic Laboratories and Others. The hospital segment will dominate the market in 2021.

Regional Overview

North America dominates the global blood transfusion market and accounts for more than 35% of the global revenue in 2021 as, a result of an increase in the number of surgical procedures and trauma cases, which is pushing the demand for blood transfusions. The region's established healthcare infrastructure, higher acceptance of the blood transfusion method, and rising public awareness of blood donations all contribute to the dominance. The U.S. had the largest proportion in North America. Its dominance is mostly a result of the presence of major market participants close by, the availability of several diagnostic tests, and the more than 600 independent donation facilities.

In 2021, the Asia Pacific blood transfusion market was expected to be the fastest-growing regional market. The rapid expansion is due to continuous government and non-governmental organization campaigns in developing countries to increase public awareness of blood donations and the prevalence of a significant population with critical blood disorders.

Report Scope

Report Attribute

Details

Market Size in 2021

USD 4.1 Billion

Projected Market Size in 2028

USD 6.1 Billion

CAGR Growth Rate

6.90% CAGR

Base Year

2021

Forecast Years

2022-2028

Key Market Players

Immucor Inc., Ortho Clinical Diagnostics, Abbott, Bio-Rad Laboratories, BAG Healthcare GmbH, DiaSorin S.P.A., Danaher, BIO KIT (Werfen), F. Hoffmann-La Roche AG, Quotient Limited, and Others

Key Segment

By Product, Application, End-use, and Region

Major Regions Covered

North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa

Purchase Options

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Key Players Insights

Key players functioning in the global Blood Transfusion market includeImmucor, Inc.; Ortho Clinical Diagnostics; Abbott; Bio-Rad Laboratories; BAG Healthcare GmbH; DiaSorin S.P.A.; Danaher; BIO KIT (Werfen); F. Hoffmann-La Roche AG and Quotient Limited.

Recent developments:

  • In April 2021, EryPharm introduced a cutting-edge technique that can create red blood cells in enormous quantities and create new sources of blood for transfusions. The business intends to boost the production of Cultured Red Blood Cells (cRBC) using Hematopoietic Stem Cells by starting a pilot production phase (HSC).
  • In February 2019, the market for B2B IVD bulk reagents for blood grouping and latex serology testing was recently introduced by Torax Biosciences Limited. The company wants to offer its distribution partners, manufacturing businesses, or hospitals visible latex agglutination assays such as ASO, CRP, and RF, as well as blood grouping assays in filled or FFMU forms.

By Product

  • Reagents & Kits
  • Instruments
  • Others

By Application

  • Blood Grouping
  • Disease Screening

By End-use

  • Hospitals
  • Blood Banks
  • Diagnostic Laboratories
  • Others

By Region

  • North America
    • The U.S.
    • Canada
    • Mexico
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Nordic Countries
      • Denmark
      • Sweden
      • Norway
    • Benelux Union
      • Belgium
      • The Netherlands
      • Luxembourg
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • Australia
    • South Korea
    • Southeast Asia
      • Indonesia
      • Thailand
      • Malaysia
      • Singapore
      • Rest of Southeast Asia
    • Rest of Asia Pacific
  • The Middle East & Africa
    • Saudi Arabia
    • UAE
    • Egypt
    • South Africa
    • Rest of the Middle East & Africa
  • Latin America
    • Brazil
    • Argentina
    • Rest of Latin America

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