Blood Platelets Market size was over USD 5.39 Billion in 2023 and is likely to reach USD 8.65 Billion by the end of 2036, growing at around 3.7% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of blood platelets is assessed at USD 5.57 Billion. The growth of this market is primarily driven by the increasing awareness about the importance of blood donation and the need for platelets has led to an increase in voluntary blood donations. The government, healthcare firms, and non-profit organizations across the globe are carrying out several initiatives to encourage blood and platelet donations.
Moreover, the increasing demand for blood transfusion is giving rise to the global blood platelets market growth. The blood transfusion demand has been significantly growing on account of growing acceptance by the US FDA regarding blood transfusion products consisting of blood platelets and advanced technologies aiding blood donation and storage. The blood to be transfused is first analyzed with the help of blood transfusion diagnostics.
Growth Drivers
Challenges
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Base Year |
2023 |
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Forecast Year |
2023 – 2036 |
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CAGR |
3.7% |
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Base Year Market Size (2023) |
USD 5.39 Billion |
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Forecast Year Market Size (2036) |
USD 8.65 Billion |
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Regional Synopsis |
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Application (Platelet Function Disorder, Hemophilia, Thrombocytopenia, Perioperative Indication)
The platelet function disorder segment is assumed to dominate the blood platelets market with a revenue of 51% by the end of 2036. The growth of this market is majorly driven by the growing prevalence of cancer among the population. Chronic myelogenous leukemia and various myeloma cancers result in the development of acquired platelet dysfunction in some cancer patients. Therefore, cancer patients often have to receive platelet transfusions. In addition, chronic platelet dysfunction increases the need for platelet transfusions. The incidence of myeloma in the UK is projected to increase by 11% between 2014 and 2036, reported as by Cancer Research UK Statistics 2021. These figures indicate an increasing demand for platelet transfusions in the treatment of cancer patients. Therefore, platelets are often given to such patients to reduce the need for red blood cells, surgical blood loss, and complications such as reoperation due to bleeding.
End Users (Hospitals, Ambulatory Surgical Centers)
The hospital segment is predicted to witness the largest share of 72% during the time period between 2023 – 2036. The expansion of the segment can be attributed on the back of the accessibility of talented experts in the hospitals. The blood platelets market is expanding as a result of an increase in hospital admissions for patients with cancer, hemophilia, and other severe platelet disorders. Furthermore, higher accessibility of blood parts in hospitals brings about expanded use of blood platelets, bringing about expanded reception. Also, blood platelets are in high demand in hospitals as a result of an increase in the number of surgeries and severe injuries that necessitate blood transfusions. Additionally, promotive reimbursement policies have resulted in high demand for blood platelets in the hospital segment.
Our in-depth analysis of the global market includes the following segments:
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Application |
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Platelets |
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End User |
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North American Market Forecast
The blood platelets market in the North America region is predicted to dominate the market with a share of 35 % during the time period between 2023 – 2036. The growth of the market in this region is primarily driven by the increased demand for blood transfusion, followed by the rising number of accidents. As per the U.S. Department of Transportation, the number of people who died in motor vehicle traffic crashes increased to 9,560 in the first quarter of 2022. Furthermore, in the North America region, several countries have been experiencing economic growth which is expected to contribute to the increased healthcare spending and demand for advanced medical treatments.
APAC Market Statistics
The Asia Pacific region market for blood platelets is estimated to experience significant market expansion with a revenue of 28 percent by the end of the predicted period. The growth of this sector is driven on the back of several factors such as a high number of the presence of bleeding disorder, especially in emerging economies such as India and China. Besides, the growing number of trauma cases and advancement in healthcare infrastructure in the region are raising awareness related to blood donation in the Asia Pacific region. Blood donation in China grew by more than 40 percent between 1998 and 2020 due to growing awareness.
Author Credits: Radhika Pawar
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