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Europe Blood and Blood Components Market Future Challenges and Industry Growth Outlook by 2020-2025

Author : Ronak Bora | Published Date : 2020-09-15 

Europe Blood and Blood Components Market report offers in-depth analysis of the industry size, share, major segments, and different geographic regions, forecast for the next five years, key market players, and premium industry trends. It also focuses on the key drivers, restraints, opportunities and industry challenges.

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.

Increase in conditions of bleeding disorders, anemia, various procedures such as aesthetic surgeries and chemotherapy along with infections will have a strong influence on the demand of blood components thereby boosting the segmental growth. Moreover, high cost of blood components used for some specific applications will increase the revenue over the coming years. Reportedly, in 2017, the segment had accounted for a revenue share of over 70% in the blood components market.

Cancer treatment segment is projected to depict a rapid growth on account of increasing prevalence of different types of cancer conditions which increases the requirement for blood components. The blood components are needed for maintaining the count of blood cells. Further, unhealthy eating habits and lifestyle has increased the risk of cancer in the region which will drive the demand for cancer treatment, thus escalating the adoption of blood and blood components. 

There have been numerous awareness campaigns undertaken by prominent institutions in the region for promoting the donation of blood and blood components essential for cancer treatment. For instance, according to a report by Anthony Nolan and NHS Stem Cell Registry, over 1.4 million registrations were recorded for stem cell donations at the end of 2017. In many cases, stem cells and bone marrow can help with the cancer treatment and increases the chance of survival.

Focused care and lesser time for procedures has led to an increase in the number of treatment procedures at ambulatory surgical centers which is likely to impel the growth of ambulatory surgical centers segment. Additionally, other factors such as upsurge in demand for surgical procedures and improved affordability will further encourage the popularity of ambulatory surgical centers. For the record, , the segment had registered an overall market share of USD 1.5 billion in 2017.

Increasing elderly population combined with various initiatives from the regulatory authorities to encourage blood donations in Russia  will contribute to the regional market growth.

Elaborating on the initiatives from regulatory authorities, backed by International Federation of Red Cross and Red Crescent Societies, the Russian Red Cross has initiated an advocacy to improve the number of blood donations. Following a law signed by the president for making the blood donations voluntary, Russian Red Cross conducted several promotional activities aimed at encouraging voluntary blood donations.

Prominent associations operational in Europe blood and blood components market are focused on implementing initiatives such as awareness campaigns, collaborations and expansion for gaining a strong presence in the market. Some of the renowned associations are NHS Blood and Transplant (NHSBT), Northern Ireland Blood Transfusion Service, international Federation of Red Cross and Red Crescent Societies and Welsh Blood Services. 

Browse full table of contents (TOC) of this report @ https://www.gminsights.com/toc/detail/europe-blood-and-blood-components-market

Partial Chapter of the Table of Content 

Chapter 5. Europe Blood and Blood Components Market, By Application

5.1. Key segment trends

5.2. Anemia

5.2.1.Market size, by country, 2013 – 2024 (USD Million)

5.3. Trauma & surgery

5.3.1.Market size, by country, 2013 – 2024 (USD Million)

5.4. Cancer treatment

5.4.1.Market size, by country, 2013 – 2024 (USD Million)

5.5. Bleeding disorders

5.5.1.Market size, by country, 2013 – 2024 (USD Million)

5.6. Others

5.6.1.Market size, by country, 2013 – 2024 (USD Million)

Chapter 6. Europe Blood and Blood Components Market, By End-use

6.1. Key segment trends

6.2. Hospitals

6.2.1.Market size, by country, 2013 – 2024 (USD Million)

6.3. Ambulatory surgical centers

6.3.1.Market size, by country, 2013 – 2024 (USD Million)

6.4. Others

6.4.1.Market size, by country, 2013 – 2024 (USD Million)

 

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for fractovia 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 sport. [email protected] | https://twitter.com/RonakBora26

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