Blood Transfusion Market

Blood Transfusion Market Size and Growth Rate:

According to our research report, the Blood Transfusion Market size is poised to reach USD 7,865.06 million by the end of 2024 from USD 5,704.10 million in 2018 and this market witnessed a growth rate of 5.50% during the forecast period 2018-2024.

Blood Transfusion Market Overveiw:

The rise in the number of blood disorders such as anemia, leukopenia, erythrocytosis, leukocytosis, thrombocytosis is also increasing the blood transfusion market. As per WHO, most children with thalassemia are born in low-income countries where access to blood transfusion is difficult or it is available to only a small percentage of the population.

Blood transfusion market is expanding due to various technological advancement. One of the emerging areas of research is the use of stem cell technology to develop lab-grown blood cells for human transfusion.

Blood Transfusion Market - Growth Drivers and Opportunities:

Certain factors that are driving market growth include increasing number of surgical procedures, increasing accidents and trauma cases, the rise in a number of blood disorders and technological development.

The most commonly performed surgeries requiring blood transfusion include cardiovascular procedures, C-section procedures, and trauma and accident injuries. As per estimates by the NIH, and National Heart, Lung, and Blood Institute, blood transfusions are very common in the US, as each year over 5 million Americans needs blood transfusions. A majority of the surgeries performed are for cardiovascular interventions. Also, due to natural calamities and widespread causalities, demand for blood transfusion is increasing across the globe.

Blood Transfusion Market - Regional Analysis:

North America currently dominates the market of Blood Transfusion and is expected to remain strong in the future due to an increasing number of trauma cases and surgical procedures, which are driving the demand for blood transfusion. The United States holds the majority of the market in the North America region; due to the increase in road accidents and rising prevalence of chronic diseases. According to the data published by Insurance Institute for Highway Safety, in 2016 there were 34,439 fatal motor vehicle crashes in the United States out of which 37,461 deaths occurred. It resulted in 11.6 deaths per 100,000 people.

Also, as per the estimates of the American National Red Cross, approximately 36,000 units of red blood cells are needed every day, and nearly 21 million blood components are transfused each year in the United States. This indicates the rising demand for blood transfusion in the United States. These statistics indicate the high requirement for blood transfusion products, and ensuring a consistent supply of these products is crucial to support the growing healthcare requirements in the region.

Prominent Companies in the Blood Transfusion Market analyzed in the report are:

• Immucor Inc
• Becton Dickinson
• B. Braun Melsungen AG
• Terumo Corporation
• Grifols SA

This research report includes following segmentation for the Blood Transfusion Market size and forecast until 2024:

Blood Transfusion Market – By Product:

• Blood Bag and Accessory
• Blood Mixer
• Fridge and Freezer
• Filter
• Inline Filter
• Dockable Filter
• Blood Component Separator
• Apheresis Device
• Pathogen Reduction System
• Consumables and Supplies
• Other Products

Blood Transfusion Market – By End User:

• Hospital
• Ambulatory Surgical Centers
• Blood Bank
• Other End Users
• Geography
• Key Market Trends

Blood Transfusion Market – By Geography:

North America                                                 

• United States                                
• Canada                                          

Europe                                                                                              

• United Kingdom                                            
• Germany                                       
• France                                           
• Italy                                
• Spain                                             

Asia-Pacific                                                      

• China                                             
• India                                              
• Japan                                             
• South Korea                                  

Latin America                                                                              

• Brazil                                             
• Argentina                                      
• Mexico                                          

Middle-East & Africa                                                       

• Middle-East
• Africa