Blood Platelets Market Trends

Growth Drivers

• Increasing Geriatric Population – The aging population is more prone to conditions requiring platelet transfusion such as cancer, cardiovascular disease, and chronic liver disease. As the global population ages, the demand for blood platelets is anticipated to grow due to the high prevalence of age-related health issues.
• Growing Prevalence of Blood-Related Disorder - With the growing prevalence of chronic blood disorders such as hemophilia, myelofibrosis, and thrombocytopenia, the demand for platelets is growing. As these conditions demand regular platelet transfusion to manage bleeding episodes. Around 324,648 out of 5.5 billion people worldwide have an identified bleeding disorder, reported as by the World Federation of Hemophilia's 2019 annual global survey. 
• Surge in Number of Surgical Procedures - The increasing number of surgical procedures worldwide also contributes to the increased need for blood platelets. The increase in orthopedic and cardiac surgeries has increased the need for platelets in hospitals. In addition, increased organ transplantation such as kidney, corneal implants, and others has increased the demand for platelets. Recorded by World Observatory on Donations and Transplants, 153,863 organs were transplanted annually in 2019, which is an increase of 4.8% from 2018. 

Challenges

• High Risk Related to the Transmission of Infections - Blood transfusions comprise significant health risks. Among these, transmission of infectious organisms remains one of the most concerning complications. Hepatitis B used to be the biggest transfusion risk. Also, there may be a chance of wrong blood group typing while transferring the blood to the patients. However, unnecessary blood transfusions should be avoided to reduce the risk of infection and other complications.  
• High Treatment Cost Associated
• Shortage of Blood Donors