Blood Market Size, Share Growth Report 2033

(MENAFN- Straits Research) Introduction

Blood is a crucial fluid in the human body, essential for sustaining life and supporting the proper functioning of various systems. It is a specialized connective tissue made up of cells suspended in plasma, a liquid medium. The main components of blood include plasma, red blood cells (RBCs), white blood cells (WBCs), and platelets. Blood plays several vital roles, including transporting oxygen and carbon dioxide, delivering nutrients to cells, removing waste products, and supporting immune responses to protect the body from infections. Its diverse functions are critical to overall health and survival.

Rising prevalence of blood-related disorders drives the global market

The rising prevalence of blood-related disorders, such as cancer, is driving a significant surge in demand for red blood cells (RBCs) and other blood components. As more individuals are diagnosed with conditions requiring frequent blood transfusions-such as cancer, trauma, and surgical procedures-the demand for essential blood products like RBCs, plasma, and platelets continues to grow. For example, according to a Globocan report published in October 2024, over 70,000 patients in India alone succumbed to blood cancer, underscoring the critical need for improved access to blood products to manage and treat such conditions effectively.

Growing need for remote blood transfusion procedures creates tremendous opportunities

As rural areas continue to face limited access to medical facilities and blood transfusion services, there is an increasing need for efficient blood delivery solutions. With more people migrating to urban centers, these underserved regions require innovative methods to address the growing demand for blood. Emerging solutions such as drone-based blood delivery, intraoperative autotransfusions, and mobile blood banks offer promising opportunities to improve access to blood in these areas.

• For instance, in August 2024, the Associations for the Advancement of Blood and Biotherapies launched initiatives aimed at eliminating "blood deserts" using technology, emphasizing the potential of these innovations to meet the escalating need for blood in remote locations.

North America leads the global market, driven by the development of advanced, innovative devices for blood screening and processing. These technologies streamline clinical testing and research, facilitating faster development of therapies for long-term medical conditions. The region also boasts a robust blood and plasma collection center network, ensuring an extensive and efficient collection process. Coupled with cutting-edge healthcare infrastructure and modern tools, North America also excels in maintaining blood safety throughout the entire supply chain, from collection to transportation, further solidifying its dominance.

Key Highlights

• The global blood market size was valued at USD 8.94 billion in 2024 and is projected to grow from USD 9.38 billion in 2025 to reach USD 14.03 billion by 2033 , exhibiting a CAGR of 5.16% during the forecast period (2025-2033).
• By product, the global blood market is segmented into whole blood collection and processing, source plasma collection, blood typing products, and blood screening products. The whole blood collection and processing segment is the largest revenue contributor to the market.
• Based on end-users, the global blood market is categorized into blood and blood component banks, diagnostics laboratories, ambulatory surgical centers, hospitals, and others. The blood and blood component bank segment is anticipated to exhibit the fastest CAGR.
• North America is the most significant global blood market shareholder.

Competitive Players

The key players in the global market include Abbott Laboratories, Bio-Rad Laboratories Inc., CSL Limited (CSL Behring), F. Hoffman-La Roche Ltd, Grifols International SA, Haemonetics Corporation, Terumo Corporation (Terumo BCT Inc.), Octapharma AG, Takeda Pharmaceuticals, Thermo Fisher Scientific, Cardinal Health, and others.

Recent Developments

• September 2024 - Biotest launched its 13th plasma collection center in Karlsruhe, Germany, situated at Europaplatz, Kaiserstrasse. The modern facility is capable of collecting 146-148 plasma donations five days a week, from Monday to Friday. This expansion enhances Biotest's ability to meet the growing demand for plasma products and improve supply chain reliability.

Segmentation

By Product

Whole Blood Collection and Processing

Source Plasma Collection

Blood Typing Products

Blood Screening Products

By End-User

Blood and Blood Component Bank

Diagnostics Laboratories

Ambulatory Surgical Centers

Hospitals

Others

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