Animal Blood & Blood Components Market - By Product (Whole Blood, RBC, WBC, Platelet, Plasma), Animal (Large, Small), Application (Hemorrhage, Surgery, Cancer Treatment, Bleeding Disorders), End-User (Hospital, Blood Bank), Global Forecast (2023

Animal Blood & Blood Components Market - By Product (Whole Blood, RBC, WBC, Platelet, Plasma), Animal (Large, Small), Application (Hemorrhage, Surgery, Cancer Treatment, Bleeding Disorders), End-User (Hospital, Blood Bank), Global Forecast (2023

Animal Blood & Blood Components Market is estimated to register a CAGR of over 9.7% during 2023 and 2032, as pet owners are increasingly seeking comprehensive healthcare services for their animals, including surgeries, treatments, and therapies.

There is a rise in infectious and chronic diseases among animals which may require blood transfusions to support treatment protocols. According to a report by World Health Organization published in 2023, approximately 60% of globally reported emerging infectious diseases stem from animals, spanning both wild and domestic species. Within the past three decades, over 30 new human pathogens have been identified, with 75% of these originating from animal sources. The One Health program by the organization focuses on optimizing the health of animals, humans, and ecosystems by integrating these systems, rather than separating them. Such initiative will boost the product demand.

The overall animal blood & blood components market is classified based on product, animal type, application, end-user, and region.

Plasma product segment is poised for a notable growth during 2023 and 2032, as it is rich in essential components such as clotting factors and antibodies. The rising prevalence of diseases in animals necessitates the utilization of plasma-derived therapies. This is particularly evident in emergency situations where the focus in on efficiently meeting the healthcare needs.

Cancer treatment application of animal blood & blood components industry is anticipated to generate high revenues by 2032. As cancer diagnoses in animals become more prevalent, there is an escalating demand for specialized treatments, including chemotherapy and radiation therapy. Animal blood and blood components, having vital elements, play a crucial role in supporting these interventions, contributing to enhanced care and improved outcomes.

Asia Pacific animal blood and blood components market will showcase impressive growth trends over 2023-2032, backed by the governmental initiatives aimed at enhancing animal healthcare standards and the rise of specialized veterinary services. The diverse animal population across the region, encompassing both companion animals and livestock, amplifies the demand for a wide range of blood products. Adoption of innovative veterinary technologies and a burgeoning awareness of the benefits associated with animal blood transfusions will continue to shape the market dynamics in the APAC region in the coming years.