US blood market report, UK blood market, Canada blood market, blood market size, global blood industry, blood market growth
How big is the blood market today, and what are its future growth expectations?
The blood market size has grown strongly in recent years. It will grow from $8.32 billion in 2024 to $8.86 billion in 2025 at a compound annual growth rate (CAGR) of 6.6%. The growth in the historic period can be attributed to the surge in demand for blood and plasma, an increase in the number of surgeries, a growing global population, increasing incidence of chronic diseases, rising number of blood banks.
The blood market size is expected to see strong growth in the next few years. It will grow to $11.28 billion in 2029 at a compound annual growth rate (CAGR) of 6.2%. The growth in the forecast period can be attributed to favorable government regulations, a rise in the geriatric population, rising awareness about blood donation, increase in blood transfusion, increasing number of ambulatory surgical centers (ASCS). Major trends in the forecast period include advancements in blood transfusion and blood screening instruments, computerized immunoassays, smart blood bank inventory control systems, technological innovations, precise temperature monitoring and control.
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What have been the primary factors driving the blood market’s growth?
The increase in the number of surgeries is expected to propel the growth of the blood market. The rise in the number of surgeries is driven by improvements in medical technology, an aging demographic, and more chronic disease cases. Blood is essential in surgery to supply oxygen and nutrients, aiding clotting to control bleeding and enhance the immune response to combat infections. For instance, in December 2023, according to the Australian Institute of Health and Welfare, an Australia-based government administration, in 2022–2023, 735,500 patients were admitted for surgery from public hospital elective surgery waiting lists, marking an 18% rise compared to 2021–2022. Therefore, the increase in the number of surgeries is driving the blood market going forward.
What are the key segments within the blood market?
The blood market covered in this report is segmented –
1) By Product: Whole Blood Collection And Processing, Source Plasma Collection, Blood Typing Products, Blood Screening Products
2) By Mode of Delivery: Infusion Solutions, Gels, Sprays, Biomedical Sealants
3) By End User: Blood And Blood Component Bank, Diagnostic Laboratories, Ambulatory Surgical Centers, Hospitals, Other End Users
Subsegments:
1) By Whole Blood Collection And Processing: Blood Collection Bags, Blood Processing Kits, Blood Separation Systems, Blood Donation Kits
2) By Source Plasma Collection: Plasma Collection Kits, Automated Plasma Collection Systems, Plasma Freezers And Storage Equipment
3) By Blood Typing Products: Blood Typing Reagents, Blood Typing Kits (Manual And Automated), Blood Grouping Solutions
4) By Blood Screening Products: Blood Screening Reagents, Blood Screening Systems (Automated And Manual), Infectious Disease Testing Kits, Hemoglobin Testing Kits
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Which key players are shaping the blood market?
Major companies operating in the blood market are Cardinal Health Inc., Roche Holding AG, Thermo Fisher Scientific Inc., Abbott Laboratories, Medtronic Plc, Danaher Corp., Merck KGaA, Asahi Kasei Medical Co. Ltd., Henry Schein Inc., Medline Industries Inc., B. Braun Melsungen AG, Grifols SA, Terumo Corp., Nipro Corp., QuidelOrtho Corp., Bio Rad Laboratories Inc., LivaNova PLC, Haemonetics Corp., Macopharma, DIAGAST SAS, BAG Health Care GmbH, Kawasumi Laboratories America Inc
How will emerging trends drive the blood market throughout the forecast period?
Major companies operating in the blood market are developing advanced blood transfusion instruments, such as plasma collection systems, to improve efficiency, enhance donor safety, and increase the overall quality of blood products. A plasma collection system is a device that extracts plasma from a donor’s blood by separating it from other components and returning the rest to the donor through plasmapheresis. For instance, in March 2022, Terumo Blood and Cell Technologies, a US-based blood component and cellular technology company, received Food and Drug Administration approval for the Rika Plasma Donation System (Rika). It is a next-generation plasma collection system that focuses on improving the experience for plasma center employees and donors, featuring safety measures to reduce operator errors and completing plasma collection in 35 minutes or less. Rika ensures no more than 200 milliliters of blood are outside the donor’s body at any time and includes an advanced control system for operators.
How do regional factors impact the blood market, and which region is the largest contributor?
North America was the largest region in the blood market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the blood market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Does The Blood Market Report 2025 Offer?
The blood market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
Blood is a vital bodily fluid responsible for the proper functioning of organs. It is a complex mixture of various components, including red blood cells, white blood cells, platelets, and plasma, which help in maintaining health and enabling medical treatments.
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