Latest News- Blood Market: WBC and P is expected to lead the Product segment during 2025-2029

The Blood Market is being driven by Rising number of hospitals and blood banks

The Blood Market is expected to grow at a CAGR of 5.7% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 2597.2 million. The global blood market is witnessing a significant trend as awareness regarding blood donation increases. This heightened consciousness has led to a greater understanding of the advantages and misconceptions surrounding blood donation, encouraging more individuals to participate. Notably, developed countries such as the US, UK, Canada, and Germany have seen substantial increases in blood collections due to numerous awareness initiatives by government organizations, NGOs, and educational institutions. In contrast, developing countries face challenges in implementing similar campaigns due to low awareness and misconceptions, thereby limiting the number of blood donation camps. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Product
  • WBC and P
  • Blood screening products
  • Blood typing products
  • Source plasma collection
• End-user
  • Hospitals
  • Ambulatory surgical centers (ASCs)
  • Others
• Application
  • Therapeutic
  • Diagnostic
  • Research and development
• Geography
  • North America
    • Canada
    • US
  • Asia
    • China
    • India
    • Japan
    • South Korea
  • Europe
    • Germany
    • UK
    • France
    • Italy
  • Rest of World (ROW)

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Rising number of hospitals and blood banks
• Rise in number of road accidents and sports injuries
• Increasing number of surgical, dialysis, and blood transfusion procedures

However, the market also witnesses some limitations, which are as follows:

• Low availability of blood storage/transfusion facilities in rural areas
• Limited availability of skilled phlebotomists in rural areas
• Elevated risks of transfusion-transmissible infections (TTIs)

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Market Scope in Blood Market Research Report

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Research Analysis Overview

The Blood Market encompasses various aspects of blood-related research and applications, including serological testing, diagnostics using blood-derived products, point-of-care blood testing, blood-brain barrier studies, blood-on-chip devices, blood flow dynamics, blood rheology, blood clot formation, blood vessel imaging, blood perfusion, blood pressure and volume regulation, blood sugar management, coagulation cascade analysis, antithrombotic drugs and blood thinners, blood transfusion medicine, component therapy, blood safety regulations, blood-related infections, blood-derived biomaterials, blood-based bioprinting, and nanomedicine.

Market Research Overview

In the expansive pharmaceuticals sector, the sub-market focusing on blood collection, transfusion, testing, banking, analysis, and hematology analyzers is a significant contributor. This segment encompasses manufacturers and providers of essential tools and services, including blood collection tubes and advanced diagnostic equipment. The global healthcare market, as calculated by Technavio, comprises the consolidated revenue generated by entities involved in the production and research and development of pharmaceuticals, equipment, supplies, biotechnology, and life sciences tools and services. The growth of this market is anticipated to be fueled by demographic trends, with the global population aging rapidly. By 2050, approximately one-quarter of the US population and European populations are projected to be over 60 years old, necessitating increased demand for healthcare services, including blood testing and transfusion solutions.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/