May 22, 2017
Wellesley, Mass., May 22, 2017 – A new report by BCC Research profiles major shifts in the blood and blood products industry. The safety of blood supply remains the primary concern, but, globally, lower transfusion rates in both developed and developing countries are redefining medical care and the need for blood.
However, an increasing number of surgical procedures, chronic wound care and innovative new products are creating growing markets, according to BCC Research's The Global Blood Industry.
Opportunities are emerging, for example, in surgical sealant fibrin glue, a market with an anticipated 15.8% CAGR in the forecast period, 2016–2021. Some widely used sealants have a collagen-based composition that lowers infection risks and are gentler to skin. The U.S. accounts for $832 million in 2016 sales, thanks to a rising number of wound repair surgeries and an aging population.
According to the American Red Cross, transfusions have dropped by 33% in the past five years – to about 11 million units in 2016, down from 15 million in 2015. American Red Cross (ARC) is the largest single organization supplying blood, with an estimated 40% market share.
"Another need exists in the $5 billion U.S. market for hemophilia each year,” says Kevin Fitzgerald, BCC Research editorial director. "There are plasma-derived products with an annual CAGR just over 5% that could reach $6.2 billion by 2021.”
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The Global Blood Industry( HLC008K )
Publish Date: May 2017
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