Global Blood Transfusion
Market Report
2024
the global Blood Transfusion market size is USD 7152.2 million in 2023 and will expand at a compound annual growth rate (CAGR) of 6.20% from 2023 to 2030.
The base year for the calculation is 2023 and 2019 to 2023 will be historical period. The year 2024 will be estimated one while the forecasted data will be from year 2025 to 2031. When we deliver the report that time we updated report data till the purchase date.
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According to Cognitive Market Research, the global Blood Transfusion market size is USD 7152.2 million in 2023 and will expand at a compound annual growth rate (CAGR) of 6.20% from 2023 to 2030.
Base Year | 2023 |
Historical Data Time Period | 2019-2023 |
Forecast Period | 2024-2031 |
Global Blood Transfusion Market Sales Revenue 2023 | $ 7152.2 Million |
Global Blood Transfusion Market Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 6.2% |
North America Blood Transfusion Sales Revenue 2023 | $ 7152.2 Million |
North America Blood Transfusion Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 4.4% |
Europe Blood Transfusion Sales Revenue 2023 | $ 7152.2 Million |
Europe Blood Transfusion Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 4.7% |
Asia Pacific Blood Transfusion Sales Revenue 2023 | $ 7152.2 Million |
Asia Pacific Blood Transfusion Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 8.2% |
South America Blood Transfusion Sales Revenue 2023 | $ 7152.2 Million |
South America Blood Transfusion Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 5.6% |
Middle East and Africa Blood Transfusion Sales Revenue 2023 | $ 7152.2 Million |
Middle East and Africa Blood Transfusion Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 5.9% |
Market Split by Product |
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Market Split by Application |
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Market Split by End User |
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List of Competitors |
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Regional Analysis |
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Country Analysis |
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Key Qualitative Information Covered |
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Blood Transfusion Market is Segmented as below. Particular segment of your interest can be provided without any additional cost. Download the Sample Pages!
Transferring blood or blood components intravenously into the body & circulation system is known as a blood transfusion. The primary use of Transfusions is to replenish lost blood components in a variety of medical situations. Medical equipment used in collecting, processing, separating, and storing blood and blood products is blood transfusion devices. Key players in the Blood Transfusion market employ various strategies to maintain and enhance their market presence. These strategies include rise in Prevalence of Blood-related Diseases Fueling Blood Transfusion Diagnostics Market Development, High Demand for Blood Donations, the Increasing Number of Road Accidents and Surgical Procedures Impacts the Market Growth Positively. Additionally, increased consumer awareness and increasing acceptance of blood transfusion in emerging nations are expected to generate profitable prospects for market participants during the projected period. These strategies help key players capture a significant market share in the dynamic Blood Transfusion market.
The demand for blood products and whole Blood Transfusion s has increased due to the rising prevalence of blood-related disorders such as hemophilia, thrombocytopenia, cancer, etc., and chronic kidney disease (CKD). The demand for Blood Transfusion is expected to rise due to the rising number of anaemic individuals who need red blood cell transfusions to address their condition. The high demand for Blood Transfusion is being caused by raising awareness of the infectious disease safety of blood through various programmes in developed and emerging nations.
For instance, an article published in April 2023 in Hindustan Times suggested that in India, the State Blood Transfusion Council (SBTC) has informed registered blood banks to notify the council of all old and new hepatitis B & C patients reported at blood banks, to eradicate the disease.
According to WHO, injuries account for a sizeable and escalating amount of the disease burden as vehicular traffic and an increase in technical innovation around the world. Every year, approximately 1.35 million people die because of a road traffic crash. Moreover, between 20 and 50 million people undergo non-fatal injuries, leading to disability because of the injury.
For instance, in May 2022, Vitestro, a medical robotics company, launched world's most advanced autonomous blood drawing device at the annual meeting of the Netherlands Society for Clinical Chemistry and Laboratory Medicine (NVKC) held in Rotterdam. Vitestro's device combines Al-based, ultrasound-guided 3D reconstruction with robotic needle insertion to ensure accurate and secure blood collection.
According to the World Health Organization, most infants with thalassemia are born in low-income nations, where blood transfusion is challenging to come by or is only provided to a small fraction of the population. However, adverse effects of using a Blood Transfusion system lead to fever, virus and infection illness, allergic responses, and bloodborne diseases, which are expected to stifle the expansion of this market.
The sudden outbreak of COVID-19 caused strict lockdown measures in various countries, causing difficulties in the market. COVID-19 can have three significant effects on the global economy: directly impacting production and demand, causing supply chain and market disruption, and having a financial impact on businesses and financial markets, thereby affecting the Blood Transfusion Market.
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The Blood Transfusion Devices Market is moderately competitive. However, with technological advancements and product innovation, mid-size to smaller companies are increasing their market presence by introducing new products with cost-effective pricing.
Top Companies Market Share in Blood Transfusion Industry: (In no particular order of Rank)
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According to Cognitive Market Research, North America dominated the market in 2023 and accounted for around 40% of the global revenue. The region witnesses a continual demand for blood and blood products, driven by an aging population and various medical procedures. Advanced technologies, automated systems, and sophisticated instruments dominate the market, contributing to efficient blood processing and management.
The Blood Transfusion market in Europe is characterized by Collaboration between healthcare organizations and research institutions, fostering continuous innovation and the implementation of best practices. Increasing awareness regarding the importance of voluntary blood donation and the rising demand for blood components further drive the market’s growth.
The current report Scope analyzes Blood Transfusion Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com
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According to Cognitive Market Research, the global Blood Transfusion market size was estimated at USD 2860.88 Million, out of which North America held the major market of more than 40% of the global revenue with market size of USD 7152.2 Million in 2023 and will grow at a compound annual growth rate (CAGR) of 4.4% from 2023 to 2030, The region exhibits a well-established network of blood banks and transfusion centers, ensuring prompt and efficient blood supply. Technological advancements in blood screening and processing techniques further enhance the safety and efficacy of transfusions. Additionally, a growing aging population increases the need for blood transfusions in various medical settings. The market also benefits from strong collaborations between healthcare organizations and blood service providers. The dominant segment in North America is Reagents & Kits. This segment encompasses a diverse range of chemical substances, solutions, and test kits designed to detect, analyze, and quantify biological markers or substances in clinical samples. In the context of blood transfusion, reagents and kits are essential components for blood typing, cross-matching, and infectious disease screening.
In conclusion, the North American blood transfusion market is poised for sustained growth, driven by robust healthcare infrastructure, technological advancements, and increasing healthcare needs. Strategic collaborations and ongoing initiatives to overcome regulatory challenges will likely contribute to the market’s continued expansion in the region
According to Cognitive Market Research, the global Blood Transfusion market size was estimated at USD 2145.66 Million, out of which Europe held the major market of more than 30% of the global revenue with market size of USD 7152.2 Million in 2023 and will grow at a compound annual growth rate (CAGR) of 4.7% from 2023 to 2030, The region exhibits a well-established network of blood donation centers and advanced blood processing facilities, ensuring a stable and safe blood supply. Technological advancements in blood screening and storage techniques contribute to the high standards of transfusion safety. The dominant segment in Europe is Hospitals. The efficient coordination between hospital staff and blood banks is essential to meet patient needs promptly. Technological advancements in transfusion medicine, such as improved blood typing methods and storage solutions, further enhance the capabilities of hospitals in managing blood-related healthcare challenges.
In conclusion, the European blood transfusion market is poised for sustained growth, driven by a well-established infrastructure, technological advancements, and ongoing initiatives to address challenges. The region’s commitment to ensuring a safe and efficient blood supply positions it for continued advancements in transfusion medicine.
According to Cognitive Market Research, the global Blood Transfusion market size was estimated at USD 1645.01 Million, out of which Asia Pacific held the major market of more than 23% of the global revenue with market size of USD 7152.2 million in 2023 and will grow at a compound annual growth rate (CAGR) of 8.2% from 2023 to 2030, The region witnesses a substantial demand for blood transfusion services due to a high prevalence of diseases, increasing surgical interventions, and a large population. Developing countries in Asia-Pacific face challenges related to blood safety, adequate infrastructure, and regulatory frameworks. The dominant segment in Asia Pacific is Blood Grouping; This segment is integral not only in blood transfusions but also in prenatal care, where knowledge of the mother's and fetus’s blood types is essential to prevent hemolytic disease of the newborn.
In conclusion, the Asia-Pacific blood transfusion market presents opportunities for growth, with ongoing efforts to overcome challenges and improve accessibility to safe blood products. Continued investments, regulatory enhancements, and awareness campaigns are critical for the sustained advancement of blood transfusion services in the region.
According to Cognitive Market Research, the global Blood Transfusion market size was estimated at USD 357.61 Million, out of which Latin America held the major market of more than 5% of the global revenue with market size of USD 7152.2 million in 2023 and will grow at a compound annual growth rate (CAGR) of 5.6% from 2023 to 2030, The region has experienced a rising demand for blood and blood products due to various factors such as an increasing prevalence of chronic diseases, a growing aging population, and a rise in surgical procedures. The market is characterized by a surge in government initiatives and awareness campaigns promoting voluntary blood donation, which has positively impacted the supply chain. The dominant segment in Latin America is Instruments; technological advancements in this segment focus on enhancing the efficiency and accuracy of blood testing, ensuring compatibility between donors and recipients, and minimizing the risk of transfusion-related complications. Market players are investing in research and development to introduce innovative instruments that address evolving healthcare needs.
In conclusion, Collaboration between public and private sectors, along with continuous investment in technology and education, will be crucial for sustaining and further expanding the blood transfusion market in the region.
According to Cognitive Market Research, the global Blood Transfusion market size was estimated at USD 143.04 Million, out of which Middle East and Africa held the major market of more than 2.00% of the global revenue with market size of USD 7152.2 million in 2023 and will grow at a compound annual growth rate (CAGR) of 5.9% from 2023 to 2030, The prevalence of anemia, thalassemia, and other blood disorders, coupled with an increasing number of trauma cases and surgical procedures, contributes to a steady demand for blood transfusion services. Additionally, collaborations with international organizations and partnerships with global healthcare companies have aimed to strengthen the overall blood transfusion ecosystem. The dominant segment in MEA is Reagents & Kits, This segment includes blood grouping reagents, infectious disease screening reagents, and other diagnostic kits vital for ensuring the safety and compatibility of blood transfusions. Technological advancements in reagents and kits focus on enhancing the accuracy, efficiency, and rapidity of blood testing procedures, ultimately improving patient outcomes.
In conclusion, Continued investments in education, technology, and infrastructure, along with strategic collaborations, are essential for overcoming existing barriers and ensuring a robust and sustainable blood transfusion system in the Middle East and Africa.
Global Blood Transfusion Market Report 2024 Edition talks about crucial market insights with the help of segments and sub-segments analysis. In this section, we reveal an in-depth analysis of the key factors influencing Blood Transfusion Industry growth. Blood Transfusion market has been segmented with the help of its Product, Application End User, and others. Blood Transfusion market analysis helps to understand key industry segments, and their global, regional, and country-level insights. Furthermore, this analysis also provides information pertaining to segments that are going to be most lucrative in the near future and their expected growth rate and future market opportunities. The report also provides detailed insights into factors responsible for the positive or negative growth of each industry segment.
According to Cognitive Market Research, Reagents & Kits held the major market share over the forecast period. Reagents play a pivotal role in blood typing, cross-matching, and compatibility testing, ensuring accurate and reliable results. Kits within this segment typically include a comprehensive set of tools and consumables required for blood testing procedures, facilitating streamlined processes in blood banks and clinical laboratories.
Instruments automated blood processing systems, refrigeration units, and centrifuges are integral instruments in blood banks and healthcare facilities, streamlining blood collection, storage, and distribution. Advanced technologies in this segment contribute to the prevention of transfusion-related complications and improve overall patient safety.
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According to Cognitive Market Research, Blood grouping held the major market share over the forecast period; Blood grouping is a critical step to match donor and recipient blood to prevent adverse reactions during transfusions. The segment is characterized by continual technological advancements, introducing more accurate and efficient methods for ABO and Rh blood typing.
The disease Screening segment includes advanced diagnostic assays, reagents, and automated systems designed to screen donor blood for pathogens such as HIV, hepatitis B and C, syphilis, and other transmissible diseases. Rigorous disease screening protocols are imperative to prevent the transmission of infections through blood transfusions. Ongoing advancements in technology within this segment enhance the sensitivity and specificity of screening tests, promoting more accurate and reliable results.
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According to Cognitive Market Research, Hospitals maintain dedicated blood banks equipped with advanced technologies for efficient blood testing, storage, and distribution. They collaborate with blood donation drives, ensuring a steady supply of safe blood for various medical procedures, emergency situations, and surgeries.
Blood Banks segment includes Blood banks that often collaborate with hospitals, clinics, and other healthcare institutions, providing a vital resource for planned medical procedures, emergencies, and transfusion needs. The segment also contributes to public health initiatives by organizing blood donation drives, raising awareness, and ensuring the availability of blood for diverse medical conditions.
Research Associate at Cognitive Market Research
Anushka Gore is a seasoned market researcher specializing in the dynamic landscape of the Pharmaceutical industry. With a keen analytical mind and a deep passion for healthcare advancements, she has dedicated herself unraveling the intricate market trends and consumer behaviors that shape the future of medical technologies and services.
Anushka Gore is a seasoned market researcher specializing in the dynamic landscape of the medical devices & consumables industry. She has dedicated herself unraveling the intricate market trends and consumer behaviors that shape the future of medical technologies and services. Her expertise in Market Research and business intelligence has equipped her with the skills necessary to analyze complex information and provide strategic recommendations.
In her current role, Anushka is a highly motivated and detail-oriented research analyst with a passion for uncovering valuable insights from data. She thrives in dynamic environments where her analytical abilities and research expertise can contribute to informed decision-making for businesses. Her collaborative approach facilitated effective communication of insights, fostering a data-driven culture within the organization.Anushka remains an invaluable asset in the dynamic landscape of market research.
Please note, we have not disclose, all the sources consulted/referred during a market study due to confidentiality and paid service concern. However, rest assured that upon purchasing the service or paid report version, we will release the comprehensive list of sources along with the complete report and we also provide the data support where you can intract with the team of analysts who worked on the report.
Disclaimer:
Product | Reagents & Kits, Instruments, Others |
Application | Blood Grouping, Disease Screening |
End User | Hospitals, Blood Banks, Diagnostic Laboratories, Others |
List of Competitors | 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, Others |
This chapter will help you gain GLOBAL Market Analysis of Blood Transfusion. Further deep in this chapter, you will be able to review Global Blood Transfusion Market Split by various segments and Geographical Split.
Chapter 1 Global Market Analysis
Global Market has been segmented on the basis 5 major regions such as North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
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Global Market Dynamics, Trends, Drivers, Restraints, Opportunities, Only Pointers will be deliverable
Chapter 2 North America Market Analysis
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Qualitative Analysis for the North America Market: North America Blood Transfusion Market Trends North America Blood Transfusion Technological Road Map North America Blood Transfusion Market Drivers North America Blood Transfusion Market Restraints North America Blood Transfusion Market Opportunity Market Attractiveness Analysis COVID – 19 Impact Analysis PESTEL Analysis Porter’s Five Forces Analysis Product Life Cycle Industrial Chain Analysis
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Chapter 3 Europe Market Analysis
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Chapter 4 Asia-Pacific Market Analysis
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Chapter 5 South America Market Analysis
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Chapter 6 Middle East and Africa Market Analysis
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Only Available with Corporate User License
Chapter 7 Top 10 Countries Analysis
Competitor's Market Share and Revenue (Subject to Data Availability for Private Players)
Chapter 8 Competitor Analysis (Subject to Data Availability (Private Players))
(Subject to Data Availability (Private Players))
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Chapter 9 Qualitative Analysis (Subject to Data Availability)
Segmentation Product Analysis 2019 -2031, will provide market size split by Product. This Information is provided at Global Level, Regional Level and Top Countries Level The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 10 Market Split by Product Analysis 2019 -2031
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Chapter 11 Market Split by Application Analysis 2019 -2031
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Chapter 12 Market Split by End User Analysis 2019 -2031
This chapter helps you understand the Key Takeaways and Analyst Point of View of the global Blood Transfusion market
Chapter 13 Research Findings
Here the analyst will summarize the content of entire report and will share his view point on the current industry scenario and how the market is expected to perform in the near future. The points shared by the analyst are based on his/her detailed in-depth understanding of the market during the course of this report study. You will be provided exclusive rights to interact with the concerned analyst for unlimited time pre purchase as well as post purchase of the report.
Why Reagents & Kits have a significant impact on Blood Transfusion market? |
What are the key factors affecting the Reagents & Kits and Instruments of Blood Transfusion Market? |
What is the CAGR/Growth Rate of Blood Grouping during the forecast period? |
By type, which segment accounted for largest share of the global Blood Transfusion Market? |
Which region is expected to dominate the global Blood Transfusion Market within the forecast period? |
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