“Surge in plasma and blood donations across the globe drives the growth of the global blood market. North America contributed the highest share in 2019, and will maintain its dominance throughout the forecast period.”
The global blood market generated $7.20 billion in 2019, and is estimated to reach $10.25 billion by 2027, witnessing a CAGR of 4.5% from 2020 to 2027. The report offers an extensive analysis of changing market dynamics, key winning strategies, business performance, major segments, and competitive scenarios.
Surge in plasma and blood donations across the globe, and growing advancement in blood screening and blood transfusion instruments drive the growth of the global blood market. However, high purchase cost associated with advanced blood collection devices hinder the market growth. Furthermore, rise in demand for blood plasma to treat COVID-19 patients is expected to create new growth opportunities for the market players during the forecast period.
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- During the Covid-19 pandemic, there has been either postponement or cancellation of blood donation drives amid lockdown. There has been low donor turnout due to fears of getting affected with coronavirus.
- The revenue generated from the source plasma collection segment is likely to increase during the Covid-19 pandemic due to surge in demand for blood plasma of patients that have been recovered from Covid-19 to treat the infected patients.
The report offers a detailed segmentation of the global blood market based on product, end-user, and region.
Based on product, the white blood collection and processing segment contributed to the largest share in 2019, accounting for more than half of the total share, and is estimated to maintain its dominant position during the forecast period. However, the source plasma collection segment is expected to witness the highest CAGR of 6.4% during the forecast period.
Based on end-user, the blood and blood component bank segment accounted for the largest share in 2019, holding more than one-third of the total share, and is expected to maintain the largest share throughout the forecast period. In addition, it is expected to register the highest CAGR of 5.4% from 2020 to 2027.
Based on region, North America contributed the highest share, accounting for two-fifths of the total market share in 2019, and will maintain its dominance throughout the forecast period. However, Asia-Pacific is expected to grow at the highest CAGR of 6.2% from 2020 to 2027.
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Frontrunners in the industry-
Bio-Rad Laboratories, Abbott Laboratories, CSL Limited (CSL Behring), Bio-Rad Laboratories, Inc., Grifols International SA, F. Hoffmann-La Roche Ltd., Merck & Co., Inc., Haemonetics Corporation, Ortho Clinical Diagnostics, and Novo Nordisk A/S.
Scope of The Report:
|Market size available for years||2020-2027|
|Base year considered||2020|
|Forecast units||Value (USD)|
|Segments covered||Product, and End User|
|Geographies covered||North America, Europe, Asia-Pacific, LAMEA|
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