Blood Market to grow by USD 2,195.69 million from 2022-2027|Rising number of hospitals and blood banks to boost the market- Technavio

NEW YORK, July 10, 2023 /PRNewswire/ -- The blood market size is estimated to grow by USD 2,195.69 million from 2022 to 2027, according to Technavio. The market is estimated to grow at a CAGR of  5.31%. The growth momentum will progress during the forecast period. North America is estimated to account for 40% of the market's growth during the forecast period. The US and Canada are the key markets for the blood market in North America. Market growth in this region will be slower than growth in Asia. In North America, the increasing number of road accidents and sports injuries will facilitate the blood market growth. For more insights on the historic period (2017 to 2021) and forecast market size (2023 to 2027) - Request a sample report

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Blood Market - Segmentation Assessment
Segment Overview
Technavio has segmented the market based on the product (Whole blood collection and processing, Blood screening products, blood typing products, and Source plasma collection), end-user (Hospitals, Ambulatory surgical centers (ASCs), and Others ), and Geography (North America, Asia, Europe, and Rest of World (ROW)). 

• The blood market share growth in the whole blood collection and processing segment will be significant during the forecast period. During the manufacturing of blood bags, prevent any breakages or twists to ensure free flow during blood separation and collection, standardized collection methods are used. Moreover, these bags support extending the storage of red blood cells and reducing the viscosity of packed red blood cells for easy transfusion, which leads to maximized harvesting of plasma. These benefits propel the demand for blood collection bags, which are anticipated to drive the growth of the whole blood collection and processing segment in the market during the forecast period.

Insights on the market contribution of various segments, including country and region wise historic data (2017 to 2021), and forecast market size (2023 to 2027) - Download a Sample Report

Blood Market – Market Dynamics
Key factor driving market growth

The increasing prevalence of cancer is driving the demand for blood in hospitals. Women with breast and cervical cancer often undergo chemotherapy and radiation therapy, leading to low blood cell count and the need for blood transfusions. Also, as more people choose for cancer treatment, surgeries, and blood transfusions increase, demanding proper storage and quality control of blood and blood components. Such trends are anticipated to continue and significantly increase the demand for blood in hospitals during the forecast period.

Leading trends influencing the market 

Stem cell research is the leading trend shaping the market. Stem cell research holds great promise for treating genetic disorders and chronic diseases. Due to their ability to treat conditions such as cancer, cord blood stem cells have become popular. It resulted in the establishment of private and public cord blood banks to collect and store cord blood for future use. Generally, cord blood is the most used and preferred source of stem cells due to its broad application and uncomplicated collection method. The increasing acceptance of stem cell therapies sourced from cord blood is propelling the global blood market. Blood is processed and stored in customized blood bags in cord blood banking, due to the increased application of stem cells in research is gaining acceptance.

Major challenges hindering the market growth

Low adoption of blood storage and transfusion in rural areas is a challenge hindering the market growth. Low demand for healthcare facilities and services due to low incomes and limited access to advanced treatments in rural areas results in low adoption of blood storage and transfusion. This impedes the growth of hospital-associated blood storage and restricts the adoption of blood in remote areas. Further, the restricted number of healthcare facilities and blood banks expands supply costs, reducing the profit margin of suppliers and manufacturers in the blood market. Nevertheless, NGOs and private organizations are taking initiatives to enhance the market scenario. Such factors may hamper the market growth during the forecast period

Insights on Market Drivers, trends, & Challenges, historic period(2017 to 2021) and forecast period(2023 to 2027)- Request a sample report!

What are the key data covered in this Blood Market report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the blood market between 2023 and 2027
• Precise estimation  of the blood market size and its contribution to the market in focus on the parent market
• Accurate predictions about upcoming trends and changes in consumer behaviour
• Growth of the blood market across North America, Asia, Europe, and the Rest of the World (ROW)
• A thorough analysis of the market's competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of blood market vendors

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The stem cell umbilical cord blood (UCB) market share is expected to increase by USD 1.47 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 16.87%. This report extensively covers market segmentation by Product (whole blood collection and processing, blood screening products, blood typing products, and source plasma collection ), End-user (hospitals, ambulatory surgical centers (ASCS), and others ), and Geography North America, Asia, Europe, and Rest of World (ROW). The rising prevalence of several chronic disorders is one of the major drivers of the stem cell UCB market growth.

The stem cell manufacturing market share is expected to increase by USD 6.77 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 9.69%. This report extensively covers stem cell manufacturing market segmentation by deployment (P and BC, AI RL and CRO, H and SC, C and TB, and others) and geography (North America, Europe, Asia, and ROW). One of the key factors driving the global stem cell manufacturing market growth is the rising prevalence of several chronic disorders.

Table of contents

1 Executive Summary

• 1.1 Market overview 
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Product
• Exhibit 06: Executive Summary – Chart on Market Segmentation by End-user
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem 
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition 
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2022 

• 3.4 Market outlook: Forecast for 2022-2027
• Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Global blood market 2017 - 2021 
• Exhibit 18: Historic Market Size – Data Table on Global blood market 2017 - 2021 ($ million)

• 4.2 Product Segment Analysis 2017 - 2021
• Exhibit 19: Historic Market Size – Product Segment 2017 - 2021 ($ million)

• 4.3 End-user Segment Analysis 2017 - 2021
• Exhibit 20: Historic Market Size – End-user Segment 2017 - 2021 ($ million)

• 4.4 Geography Segment Analysis 2017 - 2021
• Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ million)

• 4.5 Country Segment Analysis 2017 - 2021
• Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ million)

5 Five Forces Analysis

• 5.1 Five forces summary 
• Exhibit 23: Five forces analysis - Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry 
• Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition 
• Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by Product

• 6.1 Market segments 
• Exhibit 30: Chart on Product - Market share 2022-2027 (%)
• Exhibit 31: Data Table on Product - Market share 2022-2027 (%)

• 6.2 Comparison by Product 
• Exhibit 32: Chart on Comparison by Product
• Exhibit 33: Data Table on Comparison by Product

• 6.3 Whole blood collection and processing - Market size and forecast 2022-2027 
• Exhibit 34: Chart on Whole blood collection and processing - Market size and forecast 2022-2027 ($ million)
• Exhibit 35: Data Table on Whole blood collection and processing - Market size and forecast 2022-2027 ($ million)
• Exhibit 36: Chart on Whole blood collection and processing - Year-over-year growth 2022-2027 (%)
• Exhibit 37: Data Table on Whole blood collection and processing - Year-over-year growth 2022-2027 (%)

• 6.4 Blood screening products - Market size and forecast 2022-2027 
• Exhibit 38: Chart on Blood screening products - Market size and forecast 2022-2027 ($ million)
• Exhibit 39: Data Table on Blood screening products - Market size and forecast 2022-2027 ($ million)
• Exhibit 40: Chart on Blood screening products - Year-over-year growth 2022-2027 (%)
• Exhibit 41: Data Table on Blood screening products - Year-over-year growth 2022-2027 (%)

• 6.5 Blood typing products - Market size and forecast 2022-2027 
• Exhibit 42: Chart on Blood typing products - Market size and forecast 2022-2027 ($ million)
• Exhibit 43: Data Table on Blood typing products - Market size and forecast 2022-2027 ($ million)
• Exhibit 44: Chart on Blood typing products - Year-over-year growth 2022-2027 (%)
• Exhibit 45: Data Table on Blood typing products - Year-over-year growth 2022-2027 (%)

• 6.6 Source plasma collection - Market size and forecast 2022-2027 
• Exhibit 46: Chart on Source plasma collection - Market size and forecast 2022-2027 ($ million)
• Exhibit 47: Data Table on Source plasma collection - Market size and forecast 2022-2027 ($ million)
• Exhibit 48: Chart on Source plasma collection - Year-over-year growth 2022-2027 (%)
• Exhibit 49: Data Table on Source plasma collection - Year-over-year growth 2022-2027 (%)

• 6.7 Market opportunity by Product 
• Exhibit 50: Market opportunity by Product ($ million)

7 Market Segmentation by End-user

• 7.1 Market segments 
• Exhibit 51: Chart on End-user - Market share 2022-2027 (%)
• Exhibit 52: Data Table on End-user - Market share 2022-2027 (%)

• 7.2 Comparison by End-user 
• Exhibit 53: Chart on Comparison by End-user
• Exhibit 54: Data Table on Comparison by End-user

• 7.3 Hospitals - Market size and forecast 2022-2027
• Exhibit 55: Chart on Hospitals - Market size and forecast 2022-2027 ($ million)
• Exhibit 56: Data Table on Hospitals - Market size and forecast 2022-2027 ($ million)
• Exhibit 57: Chart on Hospitals - Year-over-year growth 2022-2027 (%)
• Exhibit 58: Data Table on Hospitals - Year-over-year growth 2022-2027 (%)

• 7.4 Ambulatory surgical centers (ASCs) - Market size and forecast 2022-2027 
• Exhibit 59: Chart on Ambulatory surgical centers (ASCs) - Market size and forecast 2022-2027 ($ million)
• Exhibit 60: Data Table on Ambulatory surgical centers (ASCs) - Market size and forecast 2022-2027 ($ million)
• Exhibit 61: Chart on Ambulatory surgical centers (ASCs) - Year-over-year growth 2022-2027 (%)
• Exhibit 62: Data Table on Ambulatory surgical centers (ASCs) - Year-over-year growth 2022-2027 (%)

• 7.5 Others - Market size and forecast 2022-2027
• Exhibit 63: Chart on Others - Market size and forecast 2022-2027 ($ million)
• Exhibit 64: Data Table on Others - Market size and forecast 2022-2027 ($ million)
• Exhibit 65: Chart on Others - Year-over-year growth 2022-2027 (%)
• Exhibit 66: Data Table on Others - Year-over-year growth 2022-2027 (%)

• 7.6 Market opportunity by End-user 
• Exhibit 67: Market opportunity by End-user ($ million)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 68: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation 
• Exhibit 69: Chart on Market share by geography 2022-2027 (%)
• Exhibit 70: Data Table on Market share by geography 2022-2027 (%)

• 9.2 Geographic comparison 
• Exhibit 71: Chart on Geographic comparison
• Exhibit 72: Data Table on Geographic comparison

• 9.3 North America - Market size and forecast 2022-2027
• Exhibit 73: Chart on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 74: Data Table on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 75: Chart on North America - Year-over-year growth 2022-2027 (%)
• Exhibit 76: Data Table on North America - Year-over-year growth 2022-2027 (%)

• 9.4 Asia - Market size and forecast 2022-2027
• Exhibit 77: Chart on Asia - Market size and forecast 2022-2027 ($ million)
• Exhibit 78: Data Table on Asia - Market size and forecast 2022-2027 ($ million)
• Exhibit 79: Chart on Asia - Year-over-year growth 2022-2027 (%)
• Exhibit 80: Data Table on Asia - Year-over-year growth 2022-2027 (%)

• 9.5 Europe - Market size and forecast 2022-2027
• Exhibit 81: Chart on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 82: Data Table on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 83: Chart on Europe - Year-over-year growth 2022-2027 (%)
• Exhibit 84: Data Table on Europe - Year-over-year growth 2022-2027 (%)

• 9.6 Rest of World (ROW) - Market size and forecast 2022-2027 
• Exhibit 85: Chart on Rest of World (ROW) - Market size and forecast 2022-2027 ($ million)
• Exhibit 86: Data Table on Rest of World (ROW) - Market size and forecast 2022-2027 ($ million)
• Exhibit 87: Chart on Rest of World (ROW) - Year-over-year growth 2022-2027 (%)
• Exhibit 88: Data Table on Rest of World (ROW) - Year-over-year growth 2022-2027 (%)

• 9.7 US - Market size and forecast 2022-2027
• Exhibit 89: Chart on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 90: Data Table on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 91: Chart on US - Year-over-year growth 2022-2027 (%)
• Exhibit 92: Data Table on US - Year-over-year growth 2022-2027 (%)

• 9.8 China - Market size and forecast 2022-2027
• Exhibit 93: Chart on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 94: Data Table on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 95: Chart on China - Year-over-year growth 2022-2027 (%)
• Exhibit 96: Data Table on China - Year-over-year growth 2022-2027 (%)

• 9.9 Germany - Market size and forecast 2022-2027
• Exhibit 97: Chart on Germany - Market size and forecast 2022-2027 ($ million)
• Exhibit 98: Data Table on Germany - Market size and forecast 2022-2027 ($ million)
• Exhibit 99: Chart on Germany - Year-over-year growth 2022-2027 (%)
• Exhibit 100: Data Table on Germany - Year-over-year growth 2022-2027 (%)

• 9.10 UK - Market size and forecast 2022-2027
• Exhibit 101: Chart on UK - Market size and forecast 2022-2027 ($ million)
• Exhibit 102: Data Table on UK - Market size and forecast 2022-2027 ($ million)
• Exhibit 103: Chart on UK - Year-over-year growth 2022-2027 (%)
• Exhibit 104: Data Table on UK - Year-over-year growth 2022-2027 (%)

• 9.11 Canada - Market size and forecast 2022-2027
• Exhibit 105: Chart on Canada - Market size and forecast 2022-2027 ($ million)
• Exhibit 106: Data Table on Canada - Market size and forecast 2022-2027 ($ million)
• Exhibit 107: Chart on Canada - Year-over-year growth 2022-2027 (%)
• Exhibit 108: Data Table on Canada - Year-over-year growth 2022-2027 (%)

• 9.12 Market opportunity by geography 
• Exhibit 109: Market opportunity by geography ($ million)

10 Drivers, Challenges, and Trends

• 10.1 Market drivers 

• 10.2 Market challenges 

• 10.3 Impact of drivers and challenges 
• Exhibit 110: Impact of drivers and challenges in 2022 and 2027

• 10.4 Market trends 

11 Vendor Landscape

• 11.1 Overview 

• 11.2 Vendor landscape 
• Exhibit 111: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption 
• Exhibit 112: Overview on factors of disruption

• 11.4 Industry risks 
• Exhibit 113: Impact of key risks on business

12 Vendor Analysis

• 12.1 Vendors covered 
• Exhibit 114: Vendors covered

• 12.2 Market positioning of vendors 
• Exhibit 115: Matrix on vendor position and classification

• 12.3 Abbott Laboratories 
• Exhibit 116: Abbott Laboratories - Overview
• Exhibit 117: Abbott Laboratories - Business segments
• Exhibit 118: Abbott Laboratories - Key news
• Exhibit 119: Abbott Laboratories - Key offerings
• Exhibit 120: Abbott Laboratories - Segment focus

• 12.4 Agena Bioscience Inc. 
• Exhibit 121: Agena Bioscience Inc. - Overview
• Exhibit 122: Agena Bioscience Inc. - Product / Service
• Exhibit 123: Agena Bioscience Inc. - Key offerings

• 12.5 AXO Science 
• Exhibit 124: AXO Science - Overview
• Exhibit 125: AXO Science - Product / Service
• Exhibit 126: AXO Science - Key offerings

• 12.6 Becton Dickinson and Co. 
• Exhibit 127: Becton Dickinson and Co. - Overview
• Exhibit 128: Becton Dickinson and Co. - Business segments
• Exhibit 129: Becton Dickinson and Co. - Key news
• Exhibit 130: Becton Dickinson and Co. - Key offerings
• Exhibit 131: Becton Dickinson and Co. - Segment focus

• 12.7 Bio Rad Laboratories Inc. 
• Exhibit 132: Bio Rad Laboratories Inc. - Overview
• Exhibit 133: Bio Rad Laboratories Inc. - Business segments
• Exhibit 134: Bio Rad Laboratories Inc. - Key news
• Exhibit 135: Bio Rad Laboratories Inc. - Key offerings
• Exhibit 136: Bio Rad Laboratories Inc. - Segment focus

• 12.8 Cardinal Health Inc. 
• Exhibit 137: Cardinal Health Inc. - Overview
• Exhibit 138: Cardinal Health Inc. - Business segments
• Exhibit 139: Cardinal Health Inc. - Key news
• Exhibit 140: Cardinal Health Inc. - Key offerings
• Exhibit 141: Cardinal Health Inc. - Segment focus

• 12.9 CSL Ltd. 
• Exhibit 142: CSL Ltd. - Overview
• Exhibit 143: CSL Ltd. - Business segments
• Exhibit 144: CSL Ltd. - Key news
• Exhibit 145: CSL Ltd. - Key offerings
• Exhibit 146: CSL Ltd. - Segment focus

• 12.10 F. Hoffmann La Roche Ltd. 
• Exhibit 147: F. Hoffmann La Roche Ltd. - Overview
• Exhibit 148: F. Hoffmann La Roche Ltd. - Business segments
• Exhibit 149: F. Hoffmann La Roche Ltd. - Key news
• Exhibit 150: F. Hoffmann La Roche Ltd. - Key offerings
• Exhibit 151: F. Hoffmann La Roche Ltd. - Segment focus

• 12.11 Grifols SA 
• Exhibit 152: Grifols SA - Overview
• Exhibit 153: Grifols SA - Business segments
• Exhibit 154: Grifols SA - Key offerings
• Exhibit 155: Grifols SA - Segment focus

• 12.12 Haemonetics Corp. 
• Exhibit 156: Haemonetics Corp. - Overview
• Exhibit 157: Haemonetics Corp. - Business segments
• Exhibit 158: Haemonetics Corp. - Key offerings
• Exhibit 159: Haemonetics Corp. - Segment focus

• 12.13 Immucor Inc. 
• Exhibit 160: Immucor Inc. - Overview
• Exhibit 161: Immucor Inc. - Product / Service
• Exhibit 162: Immucor Inc. - Key offerings

• 12.14 Medtronic Plc 
• Exhibit 163: Medtronic Plc - Overview
• Exhibit 164: Medtronic Plc - Business segments
• Exhibit 165: Medtronic Plc - Key news
• Exhibit 166: Medtronic Plc - Key offerings
• Exhibit 167: Medtronic Plc - Segment focus

• 12.15 Nipro Medical Corp. 
• Exhibit 168: Nipro Medical Corp. - Overview
• Exhibit 169: Nipro Medical Corp. - Product / Service
• Exhibit 170: Nipro Medical Corp. - Key offerings

• 12.16 Rapid Labs Ltd. 
• Exhibit 171: Rapid Labs Ltd. - Overview
• Exhibit 172: Rapid Labs Ltd. - Product / Service
• Exhibit 173: Rapid Labs Ltd. - Key offerings

• 12.17 Terumo Corp. 
• Exhibit 174: Terumo Corp. - Overview
• Exhibit 175: Terumo Corp. - Business segments
• Exhibit 176: Terumo Corp. - Key news
• Exhibit 177: Terumo Corp. - Key offerings
• Exhibit 178: Terumo Corp. - Segment focus

13 Appendix

• 13.1 Scope of the report 

• 13.2 Inclusions and exclusions checklist
• Exhibit 179: Inclusions checklist
• Exhibit 180: Exclusions checklist

• 13.3 Currency conversion rates for US$ 
• Exhibit 181: Currency conversion rates for US$

• 13.4 Research methodology 
• Exhibit 182: Research methodology
• Exhibit 183: Validation techniques employed for market sizing
• Exhibit 184: Information sources

• 13.5 List of abbreviations 
• Exhibit 185: List of abbreviations

About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contact
Technavio Research
Jesse Maida
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UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com

SOURCE Technavio

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