Rising Prevalence of Chronic Diseases Drives the Demand in Blood and Blood Components Market

Rising adoption of sedentary lifestyle along with the increasing prevalence of various types of chronic diseases are two of the key factors stimulating high growth in the global blood and blood components market. Applications for the products in the global blood and blood components market include bleeding disorders, trauma, anemia, surgeries, and cancer treatment. They are also utilized for the treatment of certain rare blood diseases. It is anticipated that the global blood and blood components market will witness significant rise in demand in the next few years.

Various players operating within the global blood and blood components market are entering in collaborations as well as joint ventures in order to gain a competitive edge in the industry. Several others in the global blood and blood components market are also investing considerable amount of capital on development and construction of enhanced blood and blood component banks in a bid to amass more revenues in coming years.

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Some of the leading players in the global blood and blood components market are Shanghai RAAS, Terumo BCT Inc., Bio-Rad Laboratories, Inc., Becton, Dickinson & Company, Immucor, Bharat Serums and Vaccines Ltd., and Takeda Pharmaceutical Company Limited. Increasing investments in clinical studies may intensify the competition in the global blood and blood components market in coming years. For instance, in March of 2019, Third Xiangya Hospital of Central South University in China initiated a clinical study.

Asia Pacific Dominates the Blood and Blood Components Market

Major regions functional within the global blood and blood components market include North America, Latin America, Middle East and Africa, Asia Pacific, and Europe. Regionally, Asia pacific dominates the global blood and blood components market owing to high population in the region as well as high number of blood and blood component donors in the region. Furthermore, various initiatives, supported by regional governments of nations including China and India, among others, are expected to bolster the development of the global blood and blood components market in Asia Pacific in coming years.

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Author: Rohit Bhisey

As Head of Marketing at TMR Research, Rohit brings to the table over a decade of experience in market research and Internet marketing. His dedication, perseverance, and passion for perfection have enabled him to achieve immense success in his field. Rohit is an expert at formulating new business plans and strategies to help boost web traffic. His interests lie in writing news articles on technology,healthcare and business.

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