Blood Platelets Market Revenue to Cross USD 5 Bn by 2026: Global Market Insights, Inc.

SELBYVILLE, Del., December 14, 2020 (Newswire.com) - ​​According to the latest report “Blood Platelets Market by Application (Hemophilia, Thrombocytopenia, Perioperative Indications, Platelet Function Disorders), End-Use (Hospitals, Ambulatory Surgical Centers), Regional Outlook, Price Trends, Competitive Market Share & Forecast 2026”, by Global Market Insights, Inc., the market valuation of blood platelets will cross $5.1 billion by 2026.

Rising demand for blood transfusions will significantly boost blood platelets' market growth. According to a published report by the World Health Organization (WHO), a total of 120 countries report that around 51,400 hospitals perform blood transfusions, serving a population of approximately 6 billion. The increase in the number of blood donations is owing to the growing prevalence of infectious diseases, including dengue. The outbreak of infectious diseases including dengue fever during recent years has led to a rise in demand for blood platelet transfusions. In addition, the growing geriatric population in the Northeastern Europe region has resulted in a 12% rise in demand for blood transfusions, thereby stimulating the adoption of blood platelets. The increasing number of blood banks in European countries is estimated to enhance the market revenue in the coming years. The rising number of surgeries such as open-heart surgery, brain surgeries and orthopedic surgeries worldwide has also significantly increased the demand for blood transfusion. Furthermore, the SARS-CoV-2 infection is associated with platelet dysfunction disorders. The ongoing pandemic has uplifted the demand for hospital-based or separate blood transfusion services.

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The rising prevalence of chronic and blood-related disorders will increase the number of blood donations. The growing geriatric population is prone to suffer from immune system disorders, liver and blood-related disorders, thereby elevating the demand for blood platelets. The increasing prevalence of thrombocytopenia worldwide is also one of the major factors propelling the blood platelets market expansion. Thrombocytopenia is the most common disorder in patients, causing the depletion of blood platelet count. The rising number of such patients requiring the urgent and continuous need of platelets will augment the need for advanced therapies and transfusions. Additionally, cancer patients require blood transfusions on a regular basis, thereby elevating the need and supply of blood platelets.

The blood platelets market for the platelet function disorders segment was valued at more than USD 91 million in 2019, led by several factors contributing to the increase in the number of platelet function disorder. Severity resulting from platelet function disorders is increased if it coexists with hemostasis, thereby resulting in urgent blood platelet transfusion. Some specific drugs such as aspirin and nonsteroidal anti-inflammatory drugs (NSAIDS) have the potential to cause platelet dysfunction in the body that can be treated with blood platelet transfusion. Cardiopulmonary bypass during open heart surgery can also potentially lead to platelet function disorder. Thus, the demand for blood platelets in hospitals is growing at a rapid pace. Diseases that can lead to platelet dysfunction include multiple myeloma, kidney disease and systemic lupus erythematous among other diseases.

The hospital end-use segment in the blood platelets market will showcase growth of 3% till 2026, impelled by higher availability of blood components such as platelets and plasma in hospitals. The growing number of new hospitals with advanced facilities is also leading to an increase in demand for blood platelets. The large inflow of patients with severe surgeries conducted in hospitals is elevating the usage of blood platelets due to the need to perform blood transfusion procedures. Moreover, the treatment of cancer patients in hospitals is one of the major factors for the increase in the utilization of blood transfusion services. Rising incidences of accidents leading to fatal injuries have also augmented the acceptance of blood platelets.

Brazil's blood platelets market size was USD 93 million in 2019 on account of growing awareness pertaining to blood donations and increased demand for blood components in the country. The awareness programs conducted by the Brazilian Red Cross have significantly boosted the blood donations in the country, thereby stimulating the demand and supply of blood platelets. The Brazilian Health Authorities (ANVISA) are also focused on monitoring blood donations in the country. According to the Brazilian Ministry of Health, around 2% of the Brazilian population donates blood, corresponding to 4 million annual blood collections. Additionally, the improving healthcare system in Brazil is also leading to an increase in blood component supply management that is contributing to the market value.

Some of the major players operating in the blood platelets market are the American National Red Cross, America’s Blood Centers, American Association of Blood Banks (AABB), Blood Centers of America, Brazilian Red Cross, Canadian Blood Services, European Blood Alliance (EBA) and OneBlood among others. These companies are engaged in conducting several blood donation campaigns along with blood supply services in order to meet the need for blood and blood components. The organizations are focusing on expanding their blood platelet collection services in order to enhance their products and services portfolio along with geographical reach.

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Table of Contents (ToC) of the report:

Chapter 3   Blood Platelets Market Insights

3.1    Industry segmentation

3.2    Industry landscape, 2015 – 2026

3.3    Industry impact forces

3.3.1    Growth drivers

3.3.2    Industry pitfalls & challenges

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

3.8    PESTEL analysis

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Source: Global Market Insights, Inc.