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 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.
 

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COVID-19 Impact

The COVID-19 pandemic has left a significant negative impact on the animal blood and blood components market, introducing various challenges that have affected both the supply and demand for these vital resources. One of the most prominent adverse effects has been supply chain disruptions. Just like in the human healthcare sector, the animal blood and blood components market experienced interruptions in the supply chain. Lockdowns, travel restrictions, and social distancing measures hampered the ability to collect, process, and distribute animal blood products. This resulted in sporadic shortages of blood and its components, particularly in regions with stringent pandemic-related restrictions. The disruptions in the supply chain have at times made it challenging for veterinary facilities to access the necessary blood products, potentially impacting the treatment of animals in need.

Animal Blood & Blood Components Market Trends

• The increasing prevalence of chronic diseases in aging pets is a significant driving force behind the expanding utilization of animal blood and blood components. As pets age, they are more susceptible to various chronic health conditions such as kidney disease, cancer, and heart disease, which can necessitate advanced medical treatments.
• For instance, pets with chronic kidney disease frequently develop anemia. In this scenario, blood transfusions, particularly packed red blood cells (PRBCs), become a crucial component of the treatment plan.

Furthermore, technological advancements have played a paramount role in reshaping the way blood typing, cross-matching techniques, and storage methods are employed in the veterinary field. These advancements have not only improved the quality and availability of blood products but have also expanded the potential applications, leading to a substantial expansion of the market.

• Moreover, rise in pet insurance coverage encourages pet owners to seek comprehensive healthcare services for their animals. This includes routine check-ups, specialized treatments, and emergency medical care, all of which may require blood transfusions.
• Additionally, the surge in animal health expenditure is contributing to advancements in veterinary medicine. For instance, according to the American Pet Products Association, in 2022, the U.S. spent USD 136.8 billion, of which around USD 58.1 billion was spent on pet food, USD 31.5 billion was spent on supplies, live animals, and OTC medicine, USD 35.9 billion was spent on vet care and product sales, and USD 11.4 billion was spent on other services.

Thus, the combined impact of rising pet insurance and increased animal health expenditure highlights the growing importance of animal blood and blood components in veterinary care.

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.

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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.

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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.

Animal Blood & Blood Components Market Share

The animal blood & blood components industry comprises significant players such as Royal Veterinary College (RVC), University of Florida Veterinary Hospitals, University of Pennsylvania Ryan Veterinary Hospital, Animal Blood Resources International, and Blue Ridge Veterinary Blood Bank. These institutes provide a wide range of products and services for both small and large animals including whole blood, plasma, red blood cells, platelets, and white blood cells. This competitive landscape is driven by a commitment to innovation, research, and quality assurance, all of which play a pivotal role in meeting the growing demand for animal blood products.

Market players operating in the animal blood & blood components industry is as mentioned below

• The Animal Medical Center (AMC)
• Animal Blood Resources International
• Blue Ridge Veterinary Blood Bank
• University of California Davis (UC Davis) Veterinary Medical Teaching Hospital
• Cornell University College of Veterinary Medicine
• University of Pennsylvania Ryan Veterinary Hospital
• University of Florida Veterinary Hospitals
• Royal Veterinary College (RVC)
• Veterinary Medical Center of the University of Tokyo
• Japan Animal Referral Medical Center (JARMeC)

Animal Blood & Blood Components Industry News

• In July 2018, Royal Veterinary Hospital acquired Acorn House Veterinary Hospital. It offered a comprehensive range of veterinary services within its specialist modern facilities. 

The animal blood & blood components market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2018 to 2032, for the following segments

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By Product, 2018 – 2032 (USD Million)

• Blood components
  • Plasma
  • Red Blood Cells
  • Platelets
  • White Blood Cells
• Whole blood

By Animal Type, 2018 – 2032 (USD Million)

• Large animals
  • Cattles
  • Horses
  • Other large animals
• Small animals
• Dogs
• Cats
• Other small animals

By Application, 2018 – 2032 (USD Million)

• Anemia
• Surgery
• Bleeding disorders
• Other applications

By End-user, 2018 – 2032 (USD Million)

• Veterinary hospitals and clinics
• Veterinary blood banks

The above information is provided for the following regions and countries

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Spain
  • Italy
  • Rest of Europe
• Asia Pacific
  • Japan
  • China
  • India
  • Australia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Argentina
  • Rest of Latin America
• Middle East & Africa
  • South Africa
  • Saudi Arabia
  • Rest of MEA