Animal Blood & Blood Components Market Analysis

Animal Blood & Blood Components Market Analysis

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By product, the market is segmented into whole blood and blood components. The blood components segment is further categorized into red blood cells, platelets, plasma and white blood cells. In 2022, the blood components segment emerged as the dominant, capturing the largest market share of 71.4%.
 

• The robust growth of this segment can be attributed to its pivotal role in blood transfusions, particularly during the treatment of acute or chronic anemias. The utilization of blood components offers the advantage of minimizing the risk of over-transfusion in animals.
   
• Further, they exhibit extended shelf lives compared to whole blood, providing veterinary clinics and hospitals with the capability to maintain a ready stock of blood components, ensuring their availability when needed. Thus, the ease of preservation and the prolonged shelf life of blood components are poised to accelerate the market share.

By animal type, the animal blood & blood components market is segmented into small animals and large animals. The large animals segment dominated the market, holding a substantial market share and is poised to reach USD 167.4 million by 2032.
 

• Large animals provide a source of blood for the creation of specialized blood components. For instance, horses are frequently used to produce hyperimmune plasma, which contains high levels of antibodies against specific diseases. This hyperimmune plasma can be used for the treatment of other animals, including foals, against those specific diseases.
   
• Also, large animals are essential in the research and development of blood products. They serve as valuable subjects for studies and trials related to blood transfusions, blood component processing, and the development of new products or treatment methods.
   

Based on application, the animal blood & blood components market is segmented into anaemia, surgery, bleeding disorders, and other application. In 2022, anaemia segment held a significant market share and was valued at USD 59.5 million.
 

• Anaemia, a condition marked by insufficient red blood cells or low haemoglobin levels in an animal's bloodstream, holds a crucial role in the application of animal blood and blood components. These products are instrumental in addressing anaemia in various ways.
   
• Whole blood or packed red blood cells (PRBCs) are instrumental in addressing this condition through blood transfusions. Veterinary practice regularly witnesses a steady demand for these blood products as a result.
   

Based on end-user, the animal blood & blood components market is segmented into veterinary hospitals and clinics and veterinary blood banks. The veterinary hospitals and clinics segment witnessed the highest growth with a CAGR of 9.4% in 2022 and is expected to show segmental growth in the coming years.
 

• Veterinary hospitals and clinics are central to the management and application of animal blood and blood components. These healthcare facilities play a critical role in several aspects of ensuring the availability and appropriate use of these life-saving resources.
   
• One of the primary functions of veterinary hospitals and clinics is to administer blood transfusions to animals in need. Whether it's a pet suffering from severe anemia, a surgical patient, or a critically ill animal, these healthcare professionals are trained to assess the animal's condition and provide the appropriate blood or blood components to address the specific medical requirements.
   
• Thus, veterinary hospitals and clinics serve as critical hubs in the management, application, and safe administration of animal blood and blood components, thereby contributing significantly to the market expansion.

North America animal blood & blood components market dominated the overall market with 49.3% market proportion in 2022 and is anticipated to grow with a CAGR of 9.9% over the forecast period.
 

• In North America, the market for animal blood and blood components is robust and continually expanding. The region benefits from a well-established and advanced veterinary healthcare sector, contributing to the market's substantial size and steady growth.
   
• Moreover, North America boasts a comprehensive network of veterinary blood banks and specialized centers, further enhancing the accessibility and availability of animal blood and its components.