Japan blood and blood components market size will grow considerably at a CAGR of 5% in the forthcoming years, on account of a rising elderly population and the growing prevalence of cancer in the nation. The presence of several governments undertaken initiatives to develop blood transfusion services would create a sustainable business environment in the region. For example, the Japanese government had joined hands with WHO in December 2017 to enhance blood transfusion services in South Sudan.
The growing need for blood and blood derivatives in traumatic patients and the increasing awareness regarding the importance of blood donations among people will positively impact the industry outlook. The number of blood donations across the world is rising considerably. As per the WHO, blood donations collected globally had reached 118.5 million. The high-income countries, where 16% of the world’s population resides, accounted for 40% of these donations.
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The disease process can result in severe anemia, impaired ability to fight infection, bleeding or death. Conditions like leukemia, myeloma, and lymphoma are estimated to cause around 58,100 deaths in the United States in 2018. Surgical treatments are one of the effective methods to treat these conditions during which patients require red blood cells to compensate for blood loss. It is thus rather discernible that blood transfusions for surgical cancer treatments will augment blood and blood components market over the upcoming years. Indeed, as per estimates, blood and blood components industry size from cancer treatment will register a CAGR of 4.7% over 2018-2024.
The rise in the number of cases of immune thrombocytopenia – an autoimmune bleeding disorder caused by the abnormally low levels of blood cells called platelets (also known as thrombocytopenia) will also help bolster the blood and blood components market trends. If a patient’s platelet count happens to be below 100,000 per microliter of blood, then they possibly have thrombocytopenia and might have immune thrombocytopenia. Around 80% of children who are diagnosed with ITP have the self-limited acute form that has a good chance of cure through treatment.
Of late, the procedure known as Platelet-rich plasma (PRP) treatment has emerged as one of the most ludicrous fads of the cosmetic industry that may marginally characterize the trends of blood and blood components market. The process is being touted to be the best anti-aging procedures there is, and involves a blood draw, spun in a centrifuge to extract platelets, and later used with micro needling, to create hundreds of microscopic holes in the skin. Unlike traditional beauty treatments, the vampire facial is said to harness one’s body’s natural healing power to repair and regenerate tissues.
Leading companies which constitute the global blood and blood components market include American Association of Blood Banks, Vitalant, National Blood Authority Australia, AVIS National, and American Red Cross. The risk of infectious complications that occur post-blood transfusions could affect the demand for blood and blood components slightly. Also, shifting consumer inclination towards non-invasive surgeries which do not require external supply of blood would negatively impact the industry growth.
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Partial Chapter of the Table of Content
Chapter 4. Blood and Blood Components Market, By Product
4.1. Key segment trends
4.2. Whole blood
4.2.1. Market size, by region, 2013-2024 (USD Million)
4.3. Blood components
4.3.1. Market size, by region, 2013-2024 (USD Million)
4.3.2. Red blood cells
18.104.22.168. Blood and Blood Components Market size, by region, 2013-2024 (USD Million)
22.214.171.124. Market size, by region, 2013-2024 (USD Million)
126.96.36.199. Market size, by region, 2013-2024 (USD Million)
4.3.5. White blood cells
188.8.131.52. Market size, by region, 2013-2024 (USD Million)
Chapter 5. Blood and Blood Components Market, By Application
5.1. Key segment trends
5.2.1. Market size, by region, 2013-2024 (USD Million)
5.3. Trauma & surgery
5.3.1. Market size, by region, 2013-2024 (USD Million)
5.4. Cancer treatment
5.4.1. Market size, by region, 2013-2024 (USD Million)
5.5. Bleeding disorders
5.5.1. Market size, by region, 2013-2024 (USD Million)
5.6.1. Market size, by region, 2013-2024 (USD Million)
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