India Blood Transfusion Medicine Market: By Product Type (Instrument Type (Apheresis Devices, [Plasmapheresis Devices, ECP Devices], Automated Technologies, Cell Therapy Technologies), Whole Blood Technology, (Blood Bags, [Conventional Blood Bags, Inline Filter Blood Bags], Leukocyte Depletion Filters, [Leukocyte Depletion Platelet Filters, Leukocyte Depletion RBC Filters], Buffy Coat Pooling System), By End User (Hospital Chains, Standalone Hospitals, Blood Centers), and By End User Type (Public, Private) and Country

India Blood Transfusion Medicine Market was valued at USD 69.9 million in 2023 and is expected to grow at a 5.1% CAGR from 2024 to 2034. The Indian blood transfusion medicine market thrives on a constant and critical demand for blood transfusions. Every two seconds in India, a blood transfusion occurs, highlighting the urgency of this need. This translates to a staggering annual requirement of 14.6 million blood units. Unfortunately, the current supply struggles to keep pace, with a persistent shortfall of one million units plaguing the healthcare system. Several factors contribute to this high demand. India's vast population inherently necessitates a larger blood supply for various medical procedures, surgeries, and treatments for conditions like thalassemia.

Additionally, the growing adoption of advanced medical procedures requiring blood transfusions, such as organ transplants and complex surgeries, further pushes the demand upwards. Finally, increased public awareness regarding the benefits of blood donation and blood transfusion therapy will lead to more patients seeking these procedures, further intensifying the demand. The government is actively addressing this gap through various initiatives. The "Raktdaan Amrit Mahotsav" campaign aims to promote voluntary blood donation and bridge the supply-demand divide. This campaign, coupled with the E-Rakt Kosh portal, a centralized blood bank management system, showcases the government's commitment to improving blood management in India. The E-Rakt Kosh portal efficiently manages donor records, facilitates blood type matching, and expedites allocation, ensuring faster delivery of blood products to hospitals in need. In conclusion, the high demand for blood transfusions in India presents a significant opportunity for the blood transfusion medicine market.

The India blood transfusion medicine market is projected to reach USD 121.9 million by 2034 due to the growing burden of diseases such as cancer, anemia, and thalassemia has led to an increased demand for blood transfusion services in both public and private healthcare settings. As the incidence of these diseases rises, the need for safe and timely access to blood products becomes paramount, driving the growth of the blood transfusion medicine market. Increasing healthcare expenditure, coupled with growing disposable incomes and health insurance coverage, has enabled individuals to access a wider range of healthcare services, including blood transfusion.

Blood Transfusion Medicine Market Key Developments:

• In August 2023, Fresenius Kabi and Lupagen collaborated in a strategic development and supply agreement aimed at advancing cell and gene therapies. Fresenius Kabi will leverage its expertise in apheresis collection and automated cell processing equipment to support Lupagen's extracorporeal cell and gene therapy delivery system. This innovative system aims to simplify and reduce costs associated with cell and gene therapy by enabling bedside procedures. The agreement encompasses both technology development and supply components.
• In February 2022, Asahi Kasei Medical plans to increase the production capacity of Planova filters by building a new assembly plant in Nobeoka, Miyazaki, Japan. The upcoming facility aims to optimize manufacturing processes through automation and digital transformation, thereby improving product quality and production efficiency. Construction is set to commence in the third quarter of 2022, with the project anticipated to conclude by early 2024.