Asia Pacific Blood Market Forecast 2019-2028
The Asia Pacific blood market is predicted to grow with a CAGR of 4.71%, across the forecast period of 2019 to 2028. The major factors driving market growth include, developments in the healthcare industry, and the growing demand for blood, and blood-related products.
The Asia Pacific blood market growth is determined by evaluating China, India, Vietnam, South Korea, Japan, Thailand, Australia & New Zealand, Indonesia, and the rest of the Asia Pacific. The blood market in India is observing steady growth, due to the need for blood-related products and equipment in the nation. According to statistics, nearly 9 million units of whole blood are collected annually in India, with a growth rate of 10%. Besides, it is estimated that the country needs at least 12 million units of blood, and only 1% of eligible volunteers donate each day. Moreover, countless transportation accidents across India, maternal mortality, and seasonal threats like dengue fever during the monsoon, have greatly impacted the need for blood.
On the other hand, website operators in India have developed local pages listing medical facilities, like, walk-in-clinics, hospitals, eye banks, and blood banks, among others. There are also numerous ongoing efforts established to form local associations and alliances of blood banks and other medical groups, throughout the county’s major cities. As a result, due to the increasing awareness regarding blood banks and the importance of storing blood, the country is predicted to witness a surge in need of blood and its products.
Some of the prominent companies in the market are, CSL Limited (CSL Behring), Haemonetics Corporation, Ortho Clinical Diagnostics, Terumo Corporation (Terumo BCT INC), Fresenius Kabi AG, etc.
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