Europe Blood and Blood Components Market will reach over USD 5 billion by 2025; as per a new research report. Declining number of blood transfusions coupled with risk of infection associated with transfusion of blood will act as a hindering factor for Europe blood and blood components market growth over the forecast timeframe. Moreover, presence of regulations and guidelines for efficient use of blood will limit the use of blood and blood components in the region, further restricting the industry growth. —
Increasing number of road accidents, trauma cases and surgical procedures that require blood transfusion due to significant amount of blood loss, may offer attractive growth opportunities to Europe blood and blood components business growth during the analysis period. In addition, growing number of cosmetic surgeries will stimulate demand for blood components, thereby positively impacting the market growth.
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The market is segmented based on product as whole blood and blood components. Blood components market held significant revenue share over 70% in 2017. Use of blood components during conditions such as anemia, bleeding disorders as well as in procedures such as chemotherapy, aesthetic surgeries and infections contribute to high segmental share. Furthermore, high cost of blood components for specific use will highly impact the revenue size over the upcoming years.
Cancer treatment application segment is estimated to proceed at considerably faster pace owing to growing pervasiveness of various cancer forms. Blood components are used to compensate for low blood cell count, thereby increasing the usage of blood components. Adoption of unhealthy lifestyle and eating habits in the region that escalate the risk of cancer will further impact the segmental growth.
Ambulatory surgical centers held more than USD 1.5 billion revenue size in 2017. Increasing number of procedures in ambulatory surgical centers due to focused care and shorter procedural time offers substantial growth potential to the ambulatory surgical centers segment. Moreover, rising demand of surgical procedures coupled with growing disposable income will positively impact the industry growth.
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Russia blood and blood components market is estimated to progress at relatively faster pace during the projected timeframe. Increasing number of blood donations will act as high impacting factor for the market growth. In addition, expanding geriatric population base along with initiatives to encourage Russian population to donate blood will offer significant growth potential to Russia blood and blood components business growth in the foreseeable future.
Few notable associations operating in Europe blood and blood components market are International Federation of Red Cross and Red Crescent Societies (IFRC), NHS Blood and Transplant (NHSBT), Welsh Blood Services, and the Northern Ireland Blood Transfusion Service among others. These associations are implementing strategic initiatives including collaborations, awareness initiatives and expansion strategies that are enhancing their market presence and helping them evolve as major industrial associations.
Release ID: 88909808