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Animal Blood & Blood Components Market Size

Report ID: GMI7007
Published Date: Oct 2023
Report Format: PDF

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Animal Blood & Blood Components Market Size

Animal Blood & Blood Components Market size accounted for a significant market revenue of USD 122.4 million in 2022 and is expected to showcase significant growth of 9.7% over the forecast period, to reach an estimated value of USD 292.8 million by 2032. The growth of the market in the foreseeable future is primarily propelled by a heightened awareness of veterinary blood banking and transfusion services.

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This increased awareness has a substantial influence on driving market expansion. Moreover, the rising incidence of chronic illnesses in aging pets further contributes positively to the market progress.

Animal blood plays a fundamental role in transporting oxygen, nutrients, hormones, and waste products throughout an animal's body. Animal blood is composed of a liquid portion called plasma, which contains various proteins, electrolytes, and other dissolved substances, and cellular elements, including red blood cells (erythrocytes), white blood cells (leukocytes), and platelets. The combination of these individual elements is referred to as blood components.

Animal Blood & Blood Components Market Report Attributes
Report Attribute	Details
Base Year:	2022
Animal Blood & Blood Components Market Size in 2022:	USD 122.4 Million
Forecast Period:	2023 to 2032
Forecast Period 2023 to 2032 CAGR:	9.7%
2032 Value Projection:	USD 292.8 Million
Historical Data for:	2018 to 2022
No. of Pages:	225
Tables, Charts & Figures:	437
Segments covered:	Product, Animal type, Application, End-user, and Region
Growth Drivers:	Increasing awareness of veterinary blood banking and transfusion services Increasing prevalence of chronic diseases in aging pets Technological advancements in blood typing, cross-matching techniques, and storage methods Increasing investments in research and development related to animal blood transfusions Increasing companion animal ownership Rising demand for pet insurance and growing animal health expenditure
Pitfalls & Challenges:	Declining number of blood donations Transfusion transmitted infection (TTI) related to donated blood

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Authors: Mariam Faizullabhoy, Gauri Wani

Frequently Asked Questions (FAQ) :

Animal blood & blood components industry size was USD 122.4 million in 2022 and is expected to reach USD 292.8 million by 2032 propelled by the heightened awareness of veterinary blood banking and transfusion services.

The large animals segment may record USD 167.4 million by 2032 driven by the surging need to provide source of blood for the creation of specialized blood components.

North America animal blood & blood components industry is anticipated to witness 9.9% CAGR up to 2032 driven by the robust presence of well-established and advanced veterinary healthcare sector in the region.

Animal Blood Resources International, University of Florida Veterinary Hospitals, Blue Ridge Veterinary Blood Bank, Royal Veterinary College (RVC), and Japan Animal Referral Medical Center (JARMeC) are some leading animal blood & blood components industry players.