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Press Release

Blood Preparation Market size worth over $64bn by 2024

Global Market Insights Inc.
Posted on: 27 Oct 16
Blood Preparation Market size worth over $64bn by 2024

Blood Preparation Market size will reach USD 64.38 billion by 2024; according to a new research report by Global Market Insights, Inc.

Increasing geriatric population and rising prevalence of chronic diseases such as diabetes, glomerulonephritis will increase the patient pool requiring transfusion. Furthermore, favorable government initiatives to spread the awareness regarding blood disorders will drive the business growth. For instance, NIH and CDC are organizing awareness programs to prevent thrombosis-related complications within the country. 

Introduction of novel antithrombotic drugs exhibiting higher efficacy should drive blood preparation market size. Furthermore, presence of strong pipeline of drugs for thrombosis and other blood disorders will propel growth.

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Technological advancements in testing equipments such as centrifuges and analyzers have enabled rapid and accurate diagnostics of hematological disorders. Early diagnosis of disorders coupled with increasing number of cost-effective therapeutic drugs should accelerate forecast industry growth. However, acquiring blood transmitted diseases such as HIV, Hepatitis B during transfusion is a major restraint for the industry growth. 

Whole blood preparation market size was responsible for over 45% global income in 2015 and will reach nearly USD 29.5 billion by 2024. Anticoagulants led the overall antithrombotic and anticoagulants market share with revenue of over 60% in 2015 due to increasing prevalence of blood related diseases and growing demand for cost-effective and efficacious drugs. 

U.S. blood preparation market is poised to exceed 25 billion by 2024 owing to initiatives taken by regulatory organizations to spread awareness about the complications associated with pulmonary embolism (PE) and deep vein thrombosis (DVT). FDA regulates collection, storage, preparation, and transport of blood and collaborating with other agencies for implementation of health insurance to achieve adequate reimbursement for blood components. 

France and Germany will be frontrunners from Europe, with German revenue to exceed USD 4.2 billion owing to the growing aging population and better healthcare facilities. China holds majority regional revenue share owing to high population with unmet needs, growing geriatric population base, and rise in patient awareness levels. Moreover, introduction of advanced technological products and rising healthcare expenditures will drive the blood preparation industry share. 

Pfizer, Sanofi, AstraZeneca GSK, Baxter, and Celgene are major companies, spending heavily in R&D for rapid acting, effective, and cheap drugs for the treatment of thrombocytosis and other associated disorders. 

Browse key industry insights spread across 175 pages with 173 market data tables & 15 figures & charts from the report, “Blood Preparation Market Size By Product (Whole Blood, Blood Components, Blood Derivatives), By Application (Thrombocytosis, Pulmonary Embolism, Renal Impairment, Angina Blood Vessel Complications), By Antithrombotic and Anticoagulants (Platelet Aggregation Inhibitors, Fibrinolytics, Anticoagulants), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Italy, China, Japan, Brazil, Mexico, South Africa), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2016 – 2024” in detail along with the table of contents:

Key insights from the report include:

· Global Blood preparation market size will reach USD 64.3 billion by 2024, with more than 4% growth, due to increasing geriatric population base and rising awareness of thrombosis and other blood disorders.

· U.S. dominates the industry contributing to share of over 90% of regional revenue. The blood preparation market size was valued at USD 19.1 billion in 2015 with growth expectations of 3.5% through the forecast period. 

·  Germany and France will drive industry by collectively attributing to over 45% of regional revenue share by 2024. France will grow at a faster rate of 2.3% while Germany will grow at 1.8% CAGR during the forecast period. 

· Japan have contributed to over 51% of regional revenue share with USD 4.3 billion in 2015 and expected to manifest robust growth of 5.9% during the forecast timeframe. 

· Key industry players are focusing on R&D to develop cost effective novel technologies to consolidate their market position.

About Global Market Insights:

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

Editor's Details

Juee Kate

Last updated on: 27/10/2016

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