Blood Platelet Market Revenue Forecast-2027 By Regional Manufacturers

Blood Platelet Market Revenue Forecast-2027 By Regional Manufacturers

Increasing demand for blood transfusion procedures is expected to fuel blood platelets market size in the ensuing years. Outbreak of infectious diseases such as dengue fever in recent years has raised the number of blood donations and the demand for blood platelet transfusions. Rising number of surgeries like brain, orthopedic, and open heart surgeries has also substantially increased the adoption of blood platelets. Moreover, since the SARS-CoV-2 infection is related to platelet dysfunction disorders, the current pandemic has propelled the demand for separate or hospital-based blood transfusion services.

There is a growing prevalence of blood-related and chronic disorders worldwide. In most cases, the geriatric population suffers from liver, blood-related and immune system disorders, hence boosting the need for blood donations. Increasing incidence of thrombocytopenia across the globe is putting an urgency to the need for blood platelets, advanced therapies and transfusions. Cancer patients too require blood transfusions regularly, hence fueling product demand and supply.

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Given to robust demand, companies operating in the blood platelets market are enhancing their blood platelet collection services. For instance, in 2020, the American Red Cross, which is the largest platelet provider in the U.S, announced the development of a new plan that will enable it to ramp up to a complete pathogen reduced platelet inventory and supply, over an extended period with minimal disruption to platelet availability. This pathogen reduced inventory will be augmented with a compliant platelet product, bacterially tested through large volume delayed sampling process and with a five-day shelf life.

In view of such initiatives, Global Market Insights, Inc., suggests that the blood platelets market may register over USD 5.1 billion by 2026.

The platelet function disorders segment held a valuation of over USD 91 million in 2019. Rise in prevalence of diseases leading to platelet dysfunction, such as kidney disease, systemic lupus erythematous, and multiple myeloma is influencing segment growth.

Various factors can cause platelet function disorders. Severity of the disorder is increased if it coexists with hemostasis, which then requires urgent blood platelet transfusion. The performance of cardiopulmonary bypass during open heart surgery, as well as specific drugs like NSAIDS and aspirin can cause platelet function disorders in the body.

The hospital segment is anticipated to record a 3% CAGR in the upcoming years owing to higher availability of blood components like plasma and platelets. There is a surge in the number of new hospitals having advanced facilities.

Hospitals get a large inflow of patients requiring severe surgeries that elevates the need for blood platelets and blood transfusion procedures. Treatment of cancer patients is one of the key factors for the rise in adoption of blood transfusion services, along with the increasing number of accidents and fatal injuries.

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The Brazil blood platelets market held the highest valuation of USD 93 million in 2019 owing to rising awareness about blood donations and demand for blood components. Organizations like the Brazilian Red Cross have significantly increased blood donations through awareness programs. As per the Brazilian Ministry of Health, about 2% of the Brazilian population donates blood, which corresponds to 4 million of annual blood collection. The improving healthcare system in the country is also boosting blood component supply management.

On a global scale, firms such as the American Association of Blood Banks, Brazilian Red Cross, OneBlood, American National Red Cross, Blood Centers of America, Canadian Blood Services, America’s Blood Centers, and the European Blood Alliance are some of the key contenders in the blood platelets market. These organizations are working on new product launches and blood donation campaigns to attract more blood donors, expand their geographical reach and improve their blood platelets collection services.

Partial Chapter of the Table of Content

Chapter 3   Blood Platelets Industry Insights

3.1    Industry segmentation

3.2    Industry landscape, 2015 – 2026

3.3    Industry impact forces

3.3.1    Growth drivers

3.3.1.1    Increasing prevalence of chronic and blood-related disorders

3.3.1.2    Growing demand for blood transfusions

3.3.1.3    Rise in awareness regarding blood donations and platelets transfusions

3.3.1.4    Favourable reimbursement policies in developed countries

3.3.2    Industry pitfalls & challenges

3.3.2.1    High risk of transmissions of infections

3.3.2.2    High cost of the treatment

3.4    Growth potential analysis

3.4.1    By application

3.4.2    By end-use

3.5    COVID-19 impact analysis

3.6    Porter’s analysis

3.7    Competitive landscape, 2019

3.7.1    Company matrix analysis

3.8    PESTEL analysis

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