Global Blood and Plasma Components Market 2020
The global blood and plasma components market is projected to grow from $39.58 billion in 2020 to $66.47 billion in 2031, with a compound annual growth rate (CAGR) of 4.90% during the forecast period of 2021-2031.
The market is expected to experience moderate growth due to the increasing prevalence of primary immunodeficiency diseases such as hemophilia A, von Willebrand disease (vWD), and secondary immunodeficiency diseases. Additionally, the rising burden of cancer, hematologic malignancies, and organ transplantation contributes to market expansion. Furthermore, research and development efforts focused on utilizing plasma components for the treatment of neurological disorders like chronic inflammatory demyelinating polyneuropathy (CIDP) are driving market growth.
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USD 39.6 billion in 2019
Product, Application, End User, Region
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Major players in the global blood and plasma components market are undertaking initiatives to establish and expand blood and plasma collection centers worldwide in order to meet the demand for these components. This strategic approach is expected to fuel market growth.
Blood is a valuable resource for treating rare and inherited blood disorders due to its unique properties and benefits. Whole blood, comprising plasma, red blood cells (RBCs), white blood cells (WBCs), and platelets, circulates throughout the body, providing oxygen, nutrition, and energy. Approximately 55% of blood consists of plasma, while RBCs, WBCs, and platelets are suspended in the plasma. Red blood cells account for around 42% of blood volume and transport oxygen to different organs, tissues, and cells. White blood cells and platelets contribute to immune response and blood clot formation, respectively. On average, blood constitutes 7-8% of a person’s total body weight, with around 9 pints in an average-sized woman and 12 pints in an average-sized man. Donated blood is utilized for various purposes, and its components are processed into different products to treat diseases caused by protein deficiencies.
The market is segmented based on various factors, including product, application, end user, and region.
Segmentation by Product
Segmentation by Application
Solid Tumor Management
Segmentation by End User
Hospitals and Specialty Clinics
Other End Users
Segmentation by Region
North America – U.S. and Canada
Europe – Germany, U.K., France, Italy, Spain, and Rest-of-Europe
Asia-Pacific – China, Japan, India, Australia, South Korea, Singapore, and Rest-of-Asia-Pacific
In 2020, plasma-derived products dominated the global blood and plasma components market, accounting for a significant market share of 63.70%. It is projected that the market share of plasma-derived products will further increase to 64.25% by 2031. This growth can be attributed to the rising demand for plasma-derived products, particularly immunoglobulins and albumins, in the treatment of both primary and secondary immunodeficiency diseases. Additionally, the increasing prevalence of severe liver diseases caused by the hepatitis B virus is a key driver for segment growth during the forecast period of 2021-2031.
Furthermore, major players in the global blood and plasma components market have implemented business expansion strategies by establishing plasma collection centers worldwide, aiming to increase the supply of plasma for product manufacturing. This presents lucrative opportunities for companies to expand their presence and generate higher revenue.
Regarding applications, hematology dominated the market in 2020 with a substantial market share of 72.80%. The market share of hematology in the global blood and plasma components market is expected to further increase to 78.80% by 2031. This growth is primarily attributed to the increasing prevalence of blood disorders such as thalassemia, sickle cell diseases, hemophilia A, and von Willebrand diseases. Improved diagnostic facilities and growing awareness about rare genetic blood disorders are anticipated to further fuel market growth during the forecast period of 2021-2031. Additionally, increased research, development, and innovation efforts aimed at developing plasma-derived products for new indications and expanding indications for existing products are expected to contribute to market growth.
Among all end users, hospitals and specialty clinics accounted for the largest market share of 55.20% in 2020. This can be attributed to the extensive usage of blood and plasma components in these settings for patient treatment. Patients undergoing surgeries, organ transplantation, and solid tumor management require large quantities of blood and its components. Similarly, patients suffering from blood disorders and rare blood disorders require routine infusions of plasma-derived medicinal products and often visit hospitals. The growth of this segment during the forecast period of 2021-2031 will be driven by an increase in the number of patients requiring blood and plasma components for treatment, as well as a rise in organ transplantation and other surgeries.
In terms of geographical distribution, North America held a significant market share of 42.30% in 2020. This is primarily due to the presence of numerous blood and plasma collection centers and manufacturing plants for plasma-derived medicinal products in the region. Government initiatives aimed at expanding collection centers and raising awareness about blood and plasma donation also contribute to North America’s high market share. Additionally, pharmaceutical companies continuously engage in strategic partnerships and collaborations to launch new products in various vial sizes, providing affordable and effective treatment options for patients requiring routine infusions of plasma proteins such as immunoglobulins, albumins, and coagulation factor concentrates. These factors enable North America to maintain its dominance throughout the forecast period of 2021-2031.
The global market for blood and plasma components consists of both well-established companies and a few emerging ones. Several companies in this market are striving to enhance their market presence through various business expansion initiatives, such as establishing new blood and plasma collection centers in different locations. Furthermore, these companies are actively engaged in research and development efforts to broaden the applications of existing plasma-derived products in the market.
During the period from January 2018 to January 2022, the key players in the global blood and plasma components market experienced significant activities related to business expansion, product approvals, and collaboration efforts. This trend indicates that companies are continuously exploring the potential of blood and plasma components for new applications and are meeting the growing demand for these components by introducing new products.
Key companies profiled in this report include CSL Limited, Grifols, S.A., ADMA Biologics, Inc., Takeda Pharmaceutical Company Limited, GC Pharma, Octapharma AG, Kedrion S.p.A, Emergent BioSolutions Inc., Bio Products Laboratory Ltd., LFB S.A., American Red Cross, Versiti, Inc., Blood Centers of America, Carter BloodCare, Memorial Blood Centers.
Key Questions Answered
How are blood and plasma components influencing the hematology and solid tumor management landscape, leading to a revolution in these fields?
What are the major drivers, challenges, and opportunities in the global market for blood and plasma components?
What underlying factors contribute to the emerging trends observed within the global market for blood and plasma components?
What impact did the COVID-19 pandemic have on the ecosystem of the global blood and plasma components market?
What key strategies are major players implementing to sustain their competitiveness in the market?
What regulatory implications exist in developed and developing regions regarding the use of blood and plasma components?
What potential barriers may companies face when entering specific regions within the market?
What is the projected growth rate of the global blood and plasma components market during the forecast period?
How is each segment of the market expected to grow from 2021 to 2031, and what revenue is anticipated for each segment?
What growth opportunities exist for blood and plasma component companies in their respective regions of operation?
Who are the leading players with significant offerings in the global blood and plasma components market?
Which companies are expected to disrupt the market significantly in the future, and what factors contribute to this anticipation?