Blood Preparation Market is expected to boost product demand growth over the projected phase

Global Blood preparation Market is expected to reach USD 58.69 billion by 2022, according to a new study by Grand View Research, Inc. Growing worldwide demand for transfusion of blood and its components and increasing prevalence of blood-related disorders are expected to fuel the growth of the blood preparation market over the forecast period. The worldwide prevalence of thrombocytosis-associated disorders is steeply increasing. According to the Center for Disease control and Prevention (CDC), one to two people per 1,000 are affected by DVT/PE in the U.S. each year, and 60,000-100,000 Americans die due to DVT/PE. 

Commercialization of drugs currently in the pipeline, introduction of new oral anticoagulants, and the presence of large untapped opportunities are expected to boost product demand by triggering the incidence rates of target diseases.

Anticoagulants was the largest product segment in 2014 owing to, the increasing R&D aimed at the the development of novel prophylactic and therapeutic drugs. Re-launch of some key drug products such as Urokinase in North America is most likely expected to boost market growth over the forecast period. Microbix Biosystems Inc. acquired Urokinase from Abbott Laboratories (Abbokinase) to relaunch it as Kinelytic in the U.S. The drug is under regulatory approval and is expected to be relaunched in the middle of 2015 in the U.S.

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Further key findings from the study suggest:

• The blood derivates market was valued at over 13.0 billion in 2014 and is expected grow at a lucrative rate from 2015 to 2022 owing to, the increasing transfusion needs of blood and its components. Increasing number of R&D pertaining to the development of blood-derived medicines and expected commercialization of new drugs are also expected to serve as high impact rendering drivers.
• The direct factor Xa inhibitors market is identified as the most lucrative segment on account of the introduction of new oral products such as Xarelto, Savaysa, and Eliquis, targeting unmet medical needs.
• The North American blood preparation market was the largest in 2014. The presence of sophisticated healthcare infrastructure and high patient awareness levels coupled with relatively higher healthcare expenditure levels in the region are some factors attributing to its market position.
• Asia Pacific is anticipated to witness high future growth over the forecast period, owing to the presence of favorable government initiatives, sophisticated healthcare infrastructure in Japan and Australia and large untapped opportunities in the emerging markets of China and India.
• Key players of the blood preparation market include GlaxoSmithKline PLC, Pfizer Inc., Baxter Healthcare Corp., Bristol-Myers Squibb Co., Leo Pharma Inc., Sanofi Aventis, AstraZeneca Co., and Celgene Corp.

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