The Blood Preparation Market, in the next 10 years, is expected to substantiate. Hospital decision support solutions are being floated, and the status quo is expected to stay the same even going forward. Herein, value propositions are made to the society on the whole and patients in particular by the government, private insurance companies, and social security organizations working in unison. As such, the healthcare industry is expected to witness a good number of clinical outcomes in the forthcoming period.
Blood is a mixture of various component including Red Blood Cells (RBC), White Blood Cells (WBC), plasma, and platelets that circulate continuously inside the body to provide nutrition, and oxygen to body, and removes waste from the body. The average person has about 5 liters of blood and plasma that makes up about half of the content of the blood.
Many people need transfusion in various conditions such as operations, a severe infection or liver diseases which stops body from making blood, and bleeding disorders such as hemophilia or thrombocytopenia. According to World Health Organization (WHO), 108 million blood donation collected globally in 2014 which was an increase of 8.6 million voluntary blood donation from 2004 to 2012.
Previously, whole blood was the only preparation used to replace RBC, platelets, or coagulation factors. However, now a day’s whole blood is separated into various blood components and further derivatives can be obtained from plasma by fractionation procedure. Hence, one unit of blood can be useful for more than one patient.
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Aim of the blood component is to provide right component to right patient in right quantity. Blood derivative market is the most lucrative segment and is anticipated to grow at faster rate during the forecast period due to increasing need of transfusion, and growing R&D result in development of blood derived medicines. However, anti-coagulant accounted largest share of the global blood preparation market due to launch of products, and increasing R&D activities.
North America accounted for the largest share of the market due to high patient awareness with more healthcare expenditure, and sophisticated healthcare infrastructure. However, Asia Pacific is anticipated to grow at the highest rate owing to favorable government initiatives, and large unmet opportunities from emerging markets such as China, and India.
The global blood preparation market is expected to grow at a significant growth rate during the forecast period owing to increasing prevalence of blood related diseases that results in growing demand of blood transfusion.
Additionally, launch of new anticoagulants in the market, and presence of large unmet needs also boost the global blood preparation market. However, chances of transmission of diseases, allergic reactions, and some other adverse reactions such as hypotensive transfusion reaction, post-transfusion purpura (PTP), and transfusion-associated dyspnea (TAD) can restraint the market.
According to WHO, about 5% of HIV infections are transmitted by unsafe transfusion due to unsafe donors, inadequately trained staff, irregular or inadequate supplies of materials to test, poor laboratory testing procedures, and unnecessary transfusions or absence of quality systems.
Key players in the global blood preparation market include GlaxoSmithKline plc, Baxter Healthcare Corp., Pfizer Inc., Bristol-Myers Squibb Company, Sanofi Aventis, AstraZeneca plc, and Celgene Corporation., and Leo Pharma A/S.
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