April 16, 2024

Blood Platelets Market Size to Reach USD 9.86 Billion by 2033

The global blood platelets market size reached USD 5.72 billion in 2023 and is expected to be worth around USD 9.86 billion by 2033 with a CAGR of 5.59% from 2024 to 2033.

Key Points

  • North America led the market with the biggest market share in 2023.
  • Asia Pacific is projected to expand at the fastest rate during the forecast period of 2024-2033.
  • By application type, the platelet function disorder segment had a significant share of the market in 2023.
  • By application type, the hemophilia segment is observed to witness a notable rate of growth during the forecast period.
  • By platelets, the whole blood derived platelets segment dominated the market in 2023.
  • By end-user, the hospitals segment led the market with the largest share in 2023.
  • By end-user, the ambulatory surgical centers segment is observed to witness a significant rate of growth during the forecast period.

Blood Platelets Market Size 2024 to 2033

The blood platelets market is witnessing significant growth globally, driven by the increasing prevalence of various diseases such as thrombocytopenia, hemophilia, and leukemia. Blood platelets, also known as thrombocytes, play a crucial role in blood clotting and wound healing processes. With the rising cases of chronic diseases and surgical procedures, the demand for blood platelet transfusions has surged, fueling the growth of the market. Additionally, advancements in healthcare infrastructure and technology have facilitated the development of innovative platelet-based therapies and diagnostic tools, further propelling market expansion.

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Growth Factors

Several factors contribute to the growth of the blood platelets market. One primary driver is the growing geriatric population worldwide, as elderly individuals are more prone to diseases that require blood platelet transfusions, such as cancer and cardiovascular disorders. Moreover, increasing awareness about the importance of platelet transfusions in critical care settings among healthcare professionals and patients is boosting market growth. Furthermore, the rise in government initiatives and funding for research and development activities aimed at improving blood banking and transfusion services is expected to drive market expansion in the coming years.

Region Insights:

The blood platelets market exhibits regional variations due to differences in healthcare infrastructure, prevalence of diseases, and regulatory frameworks. North America dominates the market share owing to the presence of well-established healthcare facilities, high adoption of advanced medical technologies, and a large patient pool with chronic diseases. Europe follows closely, driven by increasing healthcare expenditure and favorable reimbursement policies. In the Asia-Pacific region, rapid urbanization, improving healthcare infrastructure, and rising healthcare expenditure are contributing to market growth. Emerging economies in Latin America and the Middle East & Africa are also witnessing growing demand for blood platelets due to improving healthcare access and increasing awareness about blood-related disorders.

Blood Platelets Market Scope

Report Coverage Details
Growth Rate from 2024 to 2033 CAGR of 5.59%
Global Market Size in 2023 USD 5.72 Billion
Global Market Size by 2033 USD 9.86 Billion
Largest Market North America
Base Year 2023
Forecast Period 2024 to 2033
Segments Covered By Application, By Platelets, and By End-user
Regions Covered North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa

Blood Platelets Market Dynamics

Drivers:

Several drivers are driving the growth of the blood platelets market. Technological advancements in blood banking techniques, such as automated platelet collection systems and pathogen reduction technologies, are enhancing the safety and efficacy of platelet transfusions, thereby driving market growth. Additionally, the increasing prevalence of blood disorders, such as thrombocytopenia and hemophilia, is fueling the demand for platelet transfusions. Furthermore, the expanding application of platelet-rich plasma (PRP) therapies in orthopedics, dermatology, and wound healing is contributing to market growth.

Restraints:

Despite the promising growth prospects, the blood platelets market faces certain challenges. One significant restraint is the limited shelf life of platelets, which necessitates efficient storage and distribution systems to prevent wastage. Moreover, concerns regarding the risk of transfusion-transmitted infections and adverse reactions associated with platelet transfusions pose challenges to market growth. Additionally, stringent regulatory requirements for blood product manufacturing and distribution impose compliance burdens on market players, hindering market expansion.

Opportunities:

Despite the challenges, the blood platelets market presents several opportunities for growth and innovation. One notable opportunity lies in the development of novel platelet-based therapies for treating various diseases, including autoimmune disorders and regenerative medicine applications. Furthermore, the increasing focus on personalized medicine and genetic screening techniques offers opportunities for tailoring platelet transfusion therapies to individual patient needs. Moreover, expanding healthcare infrastructure in emerging economies and increasing investments in blood banking and transfusion services present untapped opportunities for market expansion.

Read Also: Biliary Stents Market Size to Reach USD 762.42 Million by 2033

Recent Developments

  • In February 2024, GC Biopharma’s ‘Alyglo’, South Korea’s first FDA-approved blood plasma, announced its launch in the U.S. to take place in July. ‘Alyglo’ marks a significant milestone for GC Biopharma as it enters the U.S. market with its innovative blood plasma product.
  • In December 2023, in a study titled ‘Space Anemia,’ researchers explore the effects of a rocket launched on the human body. The intense gravitational forces experienced during the roughly eight-minute journey into orbit may lead to a phenomenon where blood cells burst, posing potential health risks for astronauts.

Blood Platelets Market Companies

  • Arthrex, Inc.
  • AdiStem Ltd.
  • Arteriocyte Medical Systems, Inc.
  • Biomet, Inc.
  • Cesca Therapeutics, Inc
  • DePuy Synthes, Inc.
  • EmCyte Corporation
  • Dr. PRP America LLC
  • Exactech, Inc.
  • Harvest Technologies Corp

Segments Covered in the Report

By Application

  • Platelet Function Disorder
  • Hemophilia
  • Thrombocytopenia
  • Perioperative Indication

By Platelets

  • Whole Blood Derived Platelets
  • Apheresis Derived Platelets

By End-user

  • Hospitals
  • Ambulatory Surgical Centers
  • Blood Banks
  • Research Laboratories
  • Specialty Clinics
  • Orthopedic Clinics
  • Dermatology Clinics
  • Dental Clinics
  • Cancer Treatment Centers
  • Trauma Centers

By Geography

  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • Middle East and Africa

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