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The rise in the number of people getting affected by blood clots is likely to boost demand for antithrombotic drugs. According to a Global Market Insights, Inc., report, global blood preparation market size will surpass US$75 billion by 2025. Described below are some factors driving the market outlook.
Rising number of chronic diseases and trauma cases
Blood components are extensively utilized in the treatment of infectious diseases such as dengue and in case of heavy blood loss due to road accidents and trauma cases. The surge in the number of such infectious diseases and road accidents will result in substantial demand for blood and blood components. Contrastingly, the risk of blood transfusion infections could affect the industry trends to some extent.
The thrombocytosis application segment dominated the global blood preparation industry, accounting for more than 25% market share in 2018. Patients with severe kidney disease are more vulnerable to suffer from thrombocytosis. A growing number of chronic ailments leading to high incidences of thrombocytosis will result in exponential demand for anticoagulants, which are widely used to prevent the blood from clotting.
Demand for antithrombotic and anticoagulant drugs
Extensive investment by the leading companies in the development of antithrombotic and oral anticoagulant drugs will create ample growth opportunities for the market. The global blood preparation market is comprised of Johnson and Johnson, Bayer, AstraZeneca, Aralez Pharmaceuticals, Leo Pharma, Ionis Pharmaceuticals, Pfizer, Boehringer Ingelheim, Daiichi Sankyo, Bristol-Myers Squibb, and GlaxoSmithKline, among others. These firms are investing in R&D activities to come up with innovative and more effective anticoagulants and anti-thrombotic solutions.
The anticoagulant market will be driven by the ubiquity of severe conditions such as venous thrombosis, along with increased investments in the research and development of anticoagulant drugs. Reportedly, the anti-thrombotic and anticoagulants industry share will experience a robust growth by 2025, surpassing US$30 billion. Additionally, aesthetic procedures such as anti-aging treatment requiring the application of blood components are expected to fuel the demand for blood preparation procedures.
Growing adoption of aesthetic therapies in the U.S.
The increased rate of surgeries and aesthetic therapies on account of a rising preference for aesthetic procedures will augment demand for blood components in the U.S. Notably, the U.S. blood preparation market is projected to grow steadily at a 3.1% CAGR up to 2025.
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The existence of several initiatives undertaken by the Japanese government to maintain the availability and secure supply of blood and the ever-growing geriatric population base are some major factors providing tremendous growth opportunities to blood preparation industry players in the region. Japan’s blood preparation market is expected to grow considerably in the coming years, reaching an annual valuation of more than US$4 billion by 2025.
Surging government-driven initiatives to uplift the number of blood donations in developing countries such as India, along with the rising awareness regarding blood donations among people will ensure the availability of blood in blood banks, augmenting blood preparation market forecast in the near future.
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Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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