Nov 25, 2021, 09:07 EST
Shibuya-ku, Tokyo, Japan, Japan, Nov 25, 2021, 09:07 /Comserve / -- Blood Platelets Market With Top Countries Data, Industry Analysis , Size, Share, Revenue, Prominent Players, Developing Technologies, Tendencies and Forecast
The Blood Platelets market is projected to register a CAGR of more than 3 % during the forecast period.
The COVID-19 pandemic is an unprecedented health concern that has impacted the blood platelets market. The onset of COVID-19 pandemic has led several blood donation organizations to introduce safety guidelines pertaining to donation of blood. For instance, in July 2020, World Health Organization (WHO) introduced an interim guidance on maintaining a safe and adequate blood supply during the COVID-19 pandemic. Moreover, countries worldwide are facing shortage of blood donors. For instance, as per an article by The Lancet Hematology, the percentage of donors fell by 30% in 2020 at the Canadian Blood Services. Hence, several organizations such as American Association of Blood Banks (AABB), American’s Blood Centers (ABC), and the American Red Cross issued a joint statement on May 2020, urges the public to donate blood during the pandemic. Such initiatives for blood donation are able to meet the demand for blood platelets by healthcare facilities in the pandemic.
The studied market growth can be largely attributed to the factors such increasing prevalence of chronic blood-related disorders and rising number of surgical procedures. These factors have created significant demand for blood platelets over the years and will continue to do so in the near future.
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With increasing prevalence of chronic blood-related disorders such as myelofibrosis, hemophilia and thrombocytopenia, there is an increased demand for blood platelets. According to the 2019 Annual Global Survey of by the World Federation of Hemophilia, 324,648 people were identified with bleeding disorders out of 5.5 billion people, approximately, worldwide. In addition, liver disorder patients are more often at risk of platelet reduction. For instance, as per a 2021 article by the Centers for Disease Control and Prevention (CDC), 4.5 million of adults are diagnosed with liver disorders in the United States in 2018. In addition, as per 2021 article by the World Gastroenterology Organization (WHO), liver cirrhosis was one of the leading causes of death in 2020. Thus, the increasing prevalence of these disorders is projected to boost the demand for blood platelets treatment via hematopoietic stem cell transfer or transfusion methods.
Also, increasing number of surgical procedures across the globe is also contributing to the increasing the demand for blood platelets. Increase in number of orthopedic and cardiac surgeries is contributing to the rising demand for blood platelets in hospitals. In addition, an increase in organ transplantations has boosted the demand for blood platelets. For instance, as per the data by the Global Observatory on Donation and Transplantation, 153,863 organs were transplanted annually in 2019, that was a 4.8% increase from 2018. In addition, an increase in number of trauma surgeries by 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, as per the 2021 statistics by the World Health Organization (WHO), each year, 20-50 million people suffer with non-fatal road injuries. Such a huge number indicates the rising need for blood platelets in these population. Thus, all the aforementioned factors are currently augmenting the growth of the blood platelets market.
However, shortage of blood donors, risk of infections and high cost of the surgeries are few of the factors that restrain the market growth.
Key Market Trends
Platelet Function Disorders Segment is Expected to Witness a Significant CAGR Over the Forecast Period
Based on applications, platelet function disorders are predicted to witness significant growth. The major factors owing to the growth of the segment are the increasing prevalence of cancer. Chronic myelogenous leukemia and multiple myeloma cancers lead to the development of acquired platelet function disorders in some cancer patients. Therefore, cancer patients must undergo platelet transfusions frequently. As per the estimates by the American Cancer Society, about 34,920 people will be diagnosed with multiple myeloma in 2021 in the United States. In addition, as per the 2021 statistics by the Cancer Research UK, incidence rates for myeloma are projected to increase by 11% in the United Kingdom between 2014 and 2035. Such numbers indicate the rising demand for platelet transfusion in treatment of cancer patients. In addition, chronic platelet function disorders also contribute to the increasing demand for platelet transfusion. Thus, the administration of platelets in such patients is frequently performed in the in order to mitigate complications including RBC requirements, surgical blood loss, and reoperation for bleeding. Thus, in view of the aforementioned factors, the segment is anticipated to grow significantly over the forecast period.
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North America accounted for the Largest Share in the Global Market
In North America, United States held a major share for the blood platelets market and is expected to show a similar trend over the forecast period, without significant fluctuations. This is majorly attributed to the factors such as the presence of several organizations engaged in the distribution of blood components. Moreover, these organizations in the region are engaged in increasing awareness in the region regarding the importance of blood donation that is increasing the number of blood donors in the region. For instance, according the 2020 statistics by the Centers for Disease Control and Prevention (CDC), presently, there are more than 13.2 million blood donors in the United States. In addition, the number of platelet transfusions in the region has boosted the demand for blood platelets. For instance, as per the 2021 statistics by The American National Red Cross, approximately 21 million blood components are transfused each year in the United States. Thus, in view of the above-mentioned factors, the blood platelets market is anticipated to grow significantly over the forecast period in North America.
The blood platelets market is moderately competitive, and a few companies are currently dominating the market. These companies include Blood Centers of America, The American National Red Cross, Canadian Blood Services, Cellphire, Inc. and PlateletBio among others. The competition in the market is majorly based on provision of blood components by these companies. Additionally, the key players have been involved in organizing blood donation drives, campaigns, blood supply services in order to meet the demand from ambulatory surgical centers, and hospitals with a focus on expansion of blood platelet collection to secure the position in the global market.
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