Europe Blood and Blood Components Market: Global Market Demand and Forecast 2021 – 2027
Category: #business  By Ronak Bora  Date: 2021-08-13
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Europe Blood and Blood Components Market: Global Market Demand and Forecast 2021 – 2027

Rising prevalence of chronic diseases has triggered the demand for blood and blood components. However, the complications associated with blood transfusion process such as allergic reactions, allergy, hives, itching and fever has limited the number of blood transfusions,  which could slightly hamper the Europe blood and blood components market forecast.

To eliminate these critical issues, medical regulatory bodies have come up with several regulations and blood transfusion guidelines for efficient use of this practice, which may drive the consumption of blood components in the region.

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With the surge in the number of covid-19 positive cases in Europe, this pandemic has hampered blood and blood components delivery and demand in many ways such as reduced number of patients, surgeries, demand for blood, medical supplies and rising concerns of being infected with this deadly virus. However, in a breakthrough to fight against coronavirus, a blood component plasma is being widely used in plasma therapy to cure infected patients.

Blood transfusion is a medical procedure of transferring blood or blood products into patient’s body through veins. Rising number of trauma cases, road accidents, cosmetic surgeries and surgical procedures in chronic diseases that require blood transfusion owing to large amount of blood loss has influenced the demand for these products across hospitals. According to a new research report, Europe blood and blood components market is expected to surpass an annual valuation of US$5 billion by 2024.

Blood components, which are vastly used in several medical conditions such as bleeding disorders, anemia, aesthetic surgeries, chemotherapy and infections, have gained significant momentum and accounted for a revenue share exceeding 70% of Europe blood and blood components market in 2017. The segmental growth of blood components could get slow down due to high cost and medical complications related to it.

Growing trend of unhealthy lifestyle, rising pollution and eating habits play the role of a catalyst in escalating the risk of cancer, which may influence the industry growth in Europe. With the prevalence of cancer and its various forms, cancer treatment application segment is expected to progress at a faster pace. To compensate for low blood cell count, blood components that comprises of plasma, red blood cells, white blood cells and platelets are vastly used.

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Ambulatory surgeries or outpatient surgeries that offers shorter operational time and focused care is propelling the footfall of patients across ambulatory surgical centers, which held more than US$1.5 billion industry share in 2017. Due to the advancement of medical science and increases disposable income has upsurge the demand for surgical processes and its applications.

Russia is observing increased number of blood donations, due to growing geriatric population base and initiatives to encourage Russian population to donate blood. Russia blood & blood components industry size is expected to rise gradually in coming years.

Prominent organizations in Europe blood and blood components market are NHS Blood and Transplant (NHSBT), International Federation of Red Cross and Red Crescent Societies (IFRC), the Northern Ireland Blood Transfusion Service and Welsh Blood Services. The industry’s major players are engaged in making strategic initiatives including collaborations for advancement, awareness initiatives for population and expansion strategies for introducing new innovative medical products and procedures. That further will enhance their market presence and help them evolve as notable associations.

Partial Chapter of the Table of Content

Chapter 2. Executive Summary

2.1. Europe blood and blood components industry 3600 synopsis, 2013-2024 (USD Million)

2.1.1. Business trends

2.1.2. Product trends

2.1.3. Application trends

2.1.4. End-use trends

2.1.5. Country trends

Chapter 3. Europe Blood and Blood Components Industry Insights

3.1. Industry segmentation

3.2.Industry landscape, 2013 - 2024 (USD Million)

3.3.Industry impact factors

3.3.1.Growth drivers

3.3.1.1.Growing prevalence of chronic and infectious diseases

3.3.1.2.Increasing number of trauma cases

3.3.1.3.Expanding geriatric population coupled with growing applications of blood derivatives

3.3.1.4.Rising awareness regarding blood donations in few European countries

3.3.2.Industry pitfalls & challenges

3.3.2.1. Risk of transmission of infections through transfused blood

3.3.2.2.Growing initiatives for better use of blood

3.4. Growth potential analysis

3.4.1.By product

3.4.2.By application

3.4.3.By end-use

3.5. Regulatory landscape

3.6.Porter’s analysis

3.7.Competitive landscape, 2017

3.7.1.Strategy dashboard

3.8. PESTEL analysis

Browse complete Table of Contents (ToC) of this research report @ https://www.decresearch.com/toc/detail/europe-blood-and-blood-components-market

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About Author

Ronak Bora

Ronak Bora    

A graduate in Electronics Engineering, Ronak writes for Technology Magazine and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and spo...

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