New York, July 25, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Blood Preparation Global Market Report 2023" - https://www.reportlinker.com/p06479692/?utm_source=GNW
, Johnson And Johnson Services Inc., Xiamen Hisunny Chemical Co. Ltd., Aralez Pharmaceuticals Canada Inc., Ionis Pharmaceuticals Inc., Bayer AG, Portola Pharmaceuticals Inc., and Celgene Corporation.
The global blood preparation market is expected to grow from $41.34 billion in 2022 to $44.46 billion in 2023 at a compound annual growth rate (CAGR) of 7.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The blood preparation market is expected to reach $57.11 billion in 2027 at a CAGR of 6.5%.
The blood preparation market consists of revenues earned by entities by providing services such as blood processing, blood storing, and distributing blood and blood components for transfusion services.The market value includes the value of related goods sold by the service provider or included within the service offering.
The blood preparation market also includes sales of red cells, platelets, cryoprecipitated AHF (CRYO), and granulocytes, which are used in providing blood preparation services.Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Blood preparation refers to the process of collecting, processing, and storing blood and blood components for use in transfusions or other medical treatments. The blood preparation process involves donor screening, blood collection, testing, storage, and transfusion.
North America was the largest region in the blood preparation market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in blood preparation report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of blood preparation products are whole blood, blood components, and blood derivatives.Whole blood refers to a type of blood that has not been separated into its individual components, such as red blood cells, white blood cells, and plasma.
It includes different types of antithrombotic and anticoagulants, such as platelet aggregation inhibitors, fibrinolytics, and anticoagulants, which are applied in transfusion, diagnostics, and research. The primary end-users include hospitals, clinics, blood banks, and others.
The increasing number of blood donations worldwide is expected to boost the growth of the blood preparation market going forward.Blood donation refers to the process of donating blood to save the lives of others.
It makes blood transfusion possible as a life-sustaining and life-saving treatment.Patients require blood to survive surgeries, cancer treatment, chronic illnesses, and traumatic traumas.
It enables transfusion during the blood preparation process, ensuring that blood is always available whenever and wherever it is required.For instance, in May 2022, according to National Blood Service Ghana, a Ghana-based blood donation service organization, in 2021, a total of 173,938 units of blood were taken, an increase from 156,453 in 2020.
Further, in May 2022, according to World Bank, a US-based international financial institution, The volume of blood collected increased by 86%, from 100,018 units in June 2020 to 186,239 units in June 2021, serving over 214,187 people. Therefore, rising in blood donation is driving the growth of the blood preparation market.
Technological advancements are a key trend gaining popularity in the blood preparation market.Major companies operating in the blood preparation market are focused on innovating new technological solutions to sustain their position in the market.
For instance, in April 2021, EryPharm, a France-based biopharmaceutical company, announced the large-scale manufacturing of red blood cells (RBCs) by using hematopoietic stem cells (HSC).With this launch, the company has achieved a ground-breaking scientific innovation to mass-produce cultured red blood cells to provide new blood transfusion sources.
This medical technology will improve the quality of life of multi-transfused patients who suffer from hereditary or acquired diseases of the red blood cells in particular. This is a significant technology for mass-producing cultured red blood cells as an alternative source for blood transfusions that will complement regular blood donation.
In April 2021, Trajan Scientific and Medical (Trajan), an Australia-based company that provides analytical and life science instruments acquired MyHealthTest for an undisclosed amount.The acquisition strengthens Trajan’s capacity to provide analytical measuring services to society.
MyHealthTest is an Australia-based blood testing service company.
The countries covered in the blood preparation market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The blood preparation market research report is one of a series of new reports that provides blood preparation market statistics, including blood preparation industry global market size, regional shares, competitors with a blood preparation market share, detailed blood preparation market segments, market trends and opportunities, and any further data you may need to thrive in the blood preparation industry. This blood preparation market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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