The blood platelets market is poised to accrue considerable revenue growth owing to increasing adoption of blood transfusion procedures worldwide. Blood platelet plays an important role in human anatomy and its deficiency can lead to life-threatening situations. These platelets help in controlling or preventing blood loss. As per a report by the World Health Organization (WHO), nearly 51,400 hospitals from a total of 120 countries conduct blood transfusion operations, serving approximately 6 billion people.
Rising prevalence of infectious diseases such as dengue have led to initiation of numerous blood donation drives across the globe. In critical cases, blood platelet transfusion becomes a necessary option for treating such diseases. Presence of large geriatric population base across Northeastern Europe has led to a 12% increase in demand for blood transfusions. This could boost the number of blood banks in European nations over the forthcoming years. Considering these factors, Global Market Insights, Inc., estimates that the blood platelet market might reach USD 5.1 billion by the year 2026.
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As of now, there are 60 accredited and certified blood banks in Norwegian hospitals that offer transfusion of all blood components. Growing cases of surgeries including brain surgeries, orthopedic surgeries, and open heart surgeries might enhance business outlook for blood platelet providers. Besides, SARS-CoV-2 infection, which is considered as a platelet dysfunction disorder, has accelerated the need for hospital-based blood transfusion services.
On the regional forefront, Latin America is regarded as a promising market for blood platelet companies. Countries like Brazil have dominated the regional market share and had attained a valuation of $93 million in 2019. This growth can be attributed to proliferating demand for blood components across the country and rising awareness of the benefits of blood donations.
Citing a recent article published by the Orphanet Journal of Rare Diseases, nearly 25% of the Brazilian population have opted for health insurance coverage. As a result, the country is likely to witness a significant rise in supply and demand for blood components. Such growth in the future could massively enhance the regional business outlook.
Companies operating in the blood platelet industry are taking part in multiple blood donation campaigns as well as blood supply services to fulfil the ever-growing need for healthy blood and blood components. Companies are focusing on developing new treatment options and drugs to enhance the presence of blood platelets.
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Taking November 2020 for instance, Medison Pharma and Rigel Pharmaceuticals revealed that Health Canada has cleared their new drug submission (NDS) for TAVALISSE, the drug responsible for treating thrombocytopenia (low blood platelets) in adults suffering from chronic immune thrombocytopenia (ITP).
Currently, companies like America’s Blood Centers, American National Red Cross, Blood Centers of America, American Association of Blood Banks (AABB), Canadian Blood Services, Brazilian Red Cross, OneBlood and European Blood Alliance (EBA) are leading the industry landscape with their pioneering services.
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