The global blood preparation market size is expected to reach USD 56.78 billion by 2026 registering a CAGR of 5.6%, according to a new report by Grand View Research, Inc. Demand for transfusion of blood and its components and increasing prevalence of blood-related disorders are expected to fuel the growth of this market over the forecast period.
Increasing prevalence of thrombocytosis-associated disorders is also likely to boost market growth. According to the Centers for Disease Control and Prevention (CDC), around 900,000 individuals are affected by Deep Vein Thrombosis (DVT) and Pulmonary Embolism (PE) in U.S. each year, and 60,000–100,000 Americans die due to DVT/PE. Commercialization of drugs currently in the pipeline and introduction of new oral anticoagulants are expected to drive the market further.
Anticoagulants was the largest product segment in 2018 owing to increased R&D aimed at the development of novel prophylactic and therapeutic drugs. Re-launch of some key drug products, such as Urokinase in North America, are also likely to propel market growth over the coming years.
The market in Asia Pacific is also anticipated to witness high growth in future, owing to the presence of favorable government initiatives, sophisticated healthcare infrastructure, especially in Japan and Australia, and several untapped opportunities in the emerging markets of China and India.
To request a sample copy or view summary of this report, click the link below: https://www.grandviewresearch.com/industry-analysis/blood-preparation-market
Further key findings from the study suggest:
Whole blood product segment held the largest share in 2018 due increased number of surgeries and trauma cases
Blood derivatives is estimated to be the fastest-growing segment due to use of these products in patients affected with infectious diseases, such as Ebola
Anticoagulants dominated the antithrombotic and anticoagulants product segment and are likely to witness the fastest CAGR of 5.8% due to launch of novel and efficient anticoagulant drugs in market
The direct factor Xa inhibitors is the most lucrative segment on account of the introduction of new oral products, such as Xarelto, aimed at addressing unmet medical needs
Angina blood vessel complications was the largest application segment due to rise in lifestyle-associated diseases and popularity of oral anticoagulants
North America was the largest regional blood preparation market in 2018 and will maintain the dominance over the forecast years
Presence of sophisticated healthcare infrastructure along with high patient awareness and healthcare expenditure levels in North America will drive the regional market
Key companies in the market include GlaxoSmithKline PLC; Pfizer, Inc.; Baxter International, Inc.; Bristol-Myers Squibb Company; LEO Pharma A/S; Sanofi S.A.; Portola Pharmaceuticals, Inc.; and AstraZeneca PLC
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