Blood Platelets Market Size (2024 - 2029)

The blood platelets market is experiencing growth driven by an increasing demand due to the rising prevalence of chronic blood-related disorders and a higher number of surgical procedures globally. The market's expansion is supported by the recovery from the COVID-19 pandemic, which had previously hindered growth due to a decline in blood donations. Factors such as the prevalence of conditions like hemophilia and leukemia, along with the growing need for blood platelets in orthopedic, cardiac surgeries, and organ transplants, are contributing to the market's upward trajectory. Despite these positive trends, challenges such as donor shortages, infection risks, and high surgical costs continue to pose constraints on the market's growth potential.

Market Size of Blood Platelets Industry

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Blood Platelets Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
CAGR 3.00 %
Fastest Growing Market Asia-Pacific
Largest Market North America
Market Concentration Medium

Major Players

Blood Platelets Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Blood Platelets Market Analysis

The blood platelets market is projected to register a CAGR of 3% during the forecast period.

The COVID-19 pandemic was an unprecedented health concern that impacted the blood platelets market. During the COVID-19 epidemic, there was an international shortage of blood donors since most donors were afraid of contracting the infection. For instance, according to the American Red Cross in January 2022, since the start of the pandemic, the Red Cross has seen a 10% drop in the number of people donating blood, and the organization has dealt with pandemic-related concerns such as ongoing blood drives cancellations and personnel shortages. The increase in COVID-19 cases adds to the concern. The Red Cross had seen low donor turnout during the pandemic. Thus, a decline in blood donation and the cancellation of blood donation drives during the pandemic severely impacted the market growth during the COVID era. Nevertheless, since the limits were removed, the sector has been recovering strongly. The market recovery over the following years has been driven by an increase in blood donation drives and a decline in COVID-19 infection apprehension.

Market growth can be largely attributed to factors such as the increasing prevalence of chronic blood-related disorders and the rising number of surgical procedures. These factors have created significant demand for blood platelets over the years and may continue to do so in the future.

With the increasing prevalence of chronic blood-related disorders, such as myelofibrosis, leukemia, hemophilia, and thrombocytopenia, there is an increased demand for blood platelets. According to the World Federation of Hemophilia's October 2021 report, owing to the sex linkage of the disorder, there is a higher prevalence of hemophilia in males than in females. Hemophilia occurs worldwide and across all racial groups. According to the World Federation of Hemophilia global report published in October 2021, there were 209,614 people diagnosed with hemophilia. These included 165,379 Hemophilia A patients, 33,076 Hemophilia B patients, and 11,159 Hemophilia type unknown patients. Such a huge prevalence of hemophilia will lead to increased adoption of therapies for hemophilia, driving the market growth. Leukemia affects a considerable proportion of the world's population.

According to GLOBOCAN 2020 statistics, leukemia accounted for 474,519 cases for both sexes and all ages globally in 2020. Furthermore, according to the Leukemia & Lymphoma Society's 2021 statistics, an estimated 397,501 persons in the United States are living with or in remission from leukemia. As a result, overall statistics show that many people are at risk of developing leukemia, which may directly impact market growth during the projection period.

The increasing number of surgical procedures worldwide contributes to the increasing demand for blood platelets. Similarly, an increase in the number of orthopedic and cardiac surgeries contributes to the rising demand for blood platelets in hospitals. Additionally, an increase in organ transplantations has boosted the demand for blood platelets. As per the data published by the Health Resources and Services Administration in March 2022, about 40,000 organ transplants were performed in the United States in 2021. In addition, 26,670 kidney transplants and 9,236 liver transplants were performed in the United States in 2021. Moreover, an increase in the number of trauma surgeries due to impact forces, such as accidents, falls, sports, and crush injuries, is projected to boost the demand for blood platelets in the coming years. For instance, according to 2021 statistics by the World Health Organization, 20-50 million people suffer from non-fatal road injuries each year. Such a huge number indicates these populations' rising need for blood platelets.

Thus, all the above-mentioned factors are currently augmenting the growth of the blood platelets market. However, the shortage of blood donors, the risk of infections, and the high cost of surgeries are a few factors that restrain the market growth.

Blood Platelets Industry Segmentation

Platelets are the components of blood essential for clotting. Low platelet counts result in bleeding. Platelets stop bleeding mainly by clumping and forming plugs in blood vessels that have been injured.

The blood platelets market is segmented by application (platelet function disorders, hemophilia, thrombocytopenia, and perioperative indications), end user (hospitals, ambulatory surgical centers, and other end users), and geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America). The market report also covers estimated market sizes and trends for 17 different countries across major regions globally. The report offers the value (in USD million) for the above segments.

By Applications
Platelet Function Disorders
Hemophilia
Thrombocytopenia
Perioperative Indications
By End User
Hospitals
Ambulatory Surgical Centers
Other End Users
Geography
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
France
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
Middle East and Africa
GCC
South Africa
Rest of Middle East and Africa
South America
Brazil
Argentina
Rest of South America
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Blood Platelets Market Size Summary

The blood platelets market is experiencing a recovery phase following the disruptions caused by the COVID-19 pandemic, which led to a significant decline in blood donations due to donor apprehension and drive cancellations. The market is poised for growth, driven by the increasing prevalence of chronic blood-related disorders such as hemophilia, leukemia, and thrombocytopenia, which necessitate a higher demand for blood platelets. Additionally, the rising number of surgical procedures, including orthopedic, cardiac surgeries, and organ transplants, is contributing to the growing need for blood platelets. The market is further supported by advancements in research and development, particularly in the area of cancer treatment, where platelet transfusions are frequently required for patients with acquired platelet function disorders.

North America is expected to witness steady growth in the blood platelets market, supported by organizations promoting blood donation and a high number of platelet transfusions. The region's market growth is also bolstered by the increasing prevalence of blood-related diseases, such as hemophilia. Strategic activities by key market players, including partnerships and the introduction of advanced blood products, are anticipated to enhance market dynamics. The competitive landscape is characterized by a few dominant companies, which are actively involved in blood donation drives and campaigns to meet the rising demand for blood components. Overall, the market is set to expand, driven by a combination of demand factors and strategic initiatives by industry players.

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Blood Platelets Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Overview

    2. 1.2 Market Drivers

      1. 1.2.1 Rising Number of Surgical Procedures

      2. 1.2.2 Increasing Prevalence of Chronic and Blood-related Disorders

    3. 1.3 Market Restraints

      1. 1.3.1 High Cost and Risk of Infections in Transfusion Procedure

      2. 1.3.2 Shortage of Blood Donors

    4. 1.4 Industry Attractiveness - Porter's Five Forces Analysis

      1. 1.4.1 Bargaining Power of Buyers/Consumers

      2. 1.4.2 Bargaining Power of Suppliers

      3. 1.4.3 Threat of New Entrants

      4. 1.4.4 Threat of Substitute Products

      5. 1.4.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION (Market Size by Value - USD million)

    1. 2.1 By Applications

      1. 2.1.1 Platelet Function Disorders

      2. 2.1.2 Hemophilia

      3. 2.1.3 Thrombocytopenia

      4. 2.1.4 Perioperative Indications

    2. 2.2 By End User

      1. 2.2.1 Hospitals

      2. 2.2.2 Ambulatory Surgical Centers

      3. 2.2.3 Other End Users

    3. 2.3 Geography

      1. 2.3.1 North America

        1. 2.3.1.1 United States

        2. 2.3.1.2 Canada

        3. 2.3.1.3 Mexico

      2. 2.3.2 Europe

        1. 2.3.2.1 Germany

        2. 2.3.2.2 United Kingdom

        3. 2.3.2.3 France

        4. 2.3.2.4 Italy

        5. 2.3.2.5 Spain

        6. 2.3.2.6 Rest of Europe

      3. 2.3.3 Asia-Pacific

        1. 2.3.3.1 China

        2. 2.3.3.2 Japan

        3. 2.3.3.3 India

        4. 2.3.3.4 Australia

        5. 2.3.3.5 South Korea

        6. 2.3.3.6 Rest of Asia-Pacific

      4. 2.3.4 Middle East and Africa

        1. 2.3.4.1 GCC

        2. 2.3.4.2 South Africa

        3. 2.3.4.3 Rest of Middle East and Africa

      5. 2.3.5 South America

        1. 2.3.5.1 Brazil

        2. 2.3.5.2 Argentina

        3. 2.3.5.3 Rest of South America

Blood Platelets Market Size FAQs

The Blood Platelets Market is projected to register a CAGR of 3% during the forecast period (2024-2029)

The American National Red Cross, Blood Centers of America, Canadian Blood Services, The European Blood Alliance and Australian Red Cross are the major companies operating in the Blood Platelets Market.

Blood Platelets Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)