Report

KSA blood bags market is projected to witness a CAGR of 8.31% during the forecast period 2024-2031, growing from USD 16.3 million in 2023 to USD 30.87 million in 2031. Growth in the KSA blood bags market is driven by various factors such as the increasing prevalence of blood-related disorders like sickle cell anemia, leukemia, and thalassemia, and increasing demand for blood transfusion in the country. An increasing number of surgeries, along with a growing number of road traffic accidents are other major market drivers for the blood bags market. Government initiatives, such as organizing blood donation awareness campaigns, to increase awareness among the population, along with collaborative ventures by leading market players, accelerate the growth of the KSA blood bags market.
The KSA blood bags market is witnessing substantial growth due to a variety of factors. An increase in blood-related diseases, such as anemia, cancer, and hemophilia, along with increased road-traffic accidents, are the key drivers for this market, as due to these factors, there has been significant growth in the demand for blood in the region for blood-transfusion testing and surgeries. Additionally, an increasing number of hospitals, blood banks, and healthcare facilities, along with government support and initiatives, such as organizing blood donation awareness campaigns, to educate the population regarding the importance and benefits of blood donation is likely to escalate the growth of this market. The presence of numerous market players, new entrants, and growing collaboration activities further contribute to the optimistic growth of the KSA blood bags market.
Increasing Numbers of Road-Traffic Accidents
Road traffic accidents play a crucial role in the significant growth of the blood bags market. Road-traffic accidents can lead to minor to major injuries that escalate the demand for continuous blood availability in hospital settings as well as in blood banks for blood transfusion and surgeries. Despite strict government laws and regulations, road traffic accidents are rising in Saudi Arabia. For instance, according to an article published in "Cureus Journal" in the year 2023, the rate of road traffic accidents in Saudi Arabia has increased from 17.4 per 100,000 individuals in the year 2013 to 24 per 100,000 individuals in the year 2023. As a result, the demand for blood bags in this country is tremendously rising year by year, which is further escalating the growth of this market.
Growing Demand for Blood Donation
Blood is an essential resource, used for saving millions of lives every day. The increasing prevalence of blood-related disorders and traumas is resulting in increased requirements for blood transfusion and surgeries, thereby leading to increased demand for blood and blood bags. For instance, the Saudi Arabia Ministry of Health states that among the 28 countries worldwide, Saudi Arabia holds the top position in the highest demand for blood donation, with a rate of 58%. This increasing demand is due to several factors such as the increased need for blood transfusion, surgeries, and treating various diseases. As the demand is increasing, the KSA government is involved in various activities to increase knowledge and attitude toward blood donation to meet the growing demand for blood in the country. These factors are further leading to the growth of the KSA blood bags market.
Increased Demand for PVC Blood Bags
Among the material segment, PVC blood bags hold a significant market share in the KSA blood bags market. In comparison with other materials, PVC blood bags are more efficient in storing blood for longer periods without affecting the quality of the stored blood. Due to this, several blood bag manufacturers are investing in the development of products made from this material. For instance, in August 2023, Fresenius Kabi, which is a global healthcare company that specializes in lifesaving medicines and technologies for blood transfusion, announced the development of a blood bag system which is made of PVC/BTHC (butyryl trihexyl citrate) material to store red blood cells. This product is highly efficient in maintaining the quality of the blood components and hence proves to be essential in preserving rare blood types. These innovative product launches are spurring growth in the KSA blood bags market.
Hospitals Hold the Maximum Share
Among the end-user segment, hospitals hold a significant market share in the overall KSA blood bags market. The increasing number of hospitals in the country and long-term trust of patients in hospital facilities is responsible for the potential growth of this segment in the forecast period. For instance, according to a Saudi Gazette report, the Saudi Arabia Ministry of Health (MOH) states that hospitals within different regions of Saudi Arabia performed around 290,000 non-critical surgeries in the year 2022. With increasing demand for surgeries, the KSA government is rapidly providing efficient and advanced healthcare and surgical care facilities to hospitals to enhance and provide quality medical treatment to patients. Moreover, the availability of various facilities within the hospitals, such as blood banks, high quality blood bags, and efficient hospital staff, along with end-to-end facilities for the patients, starting from assessment to follow-up, is leading to higher demand for hospital-related services among the patients.
Future Market Scenario (2024 - 2031F)
The KSA blood bags market is expected to grow in the future due to multiple factors. The increasing prevalence of medical conditions, such as anemia, sickle cell anemia, and leukemia, will accelerate the demand for blood, leading to increased demand for efficient blood bags to store the blood for longer period. Increased road traffic accidents leading to urgent need for medical treatment and surgeries, along with government initiatives to increase knowledge and generate awareness among the population regarding the importance of blood donation to save lives, is expected to accelerate growth of KSA blood bags market in the forecast period. For instance, in February 2024, Blood Bank Club, in collaboration with Hawtat Sudair Hospital, launched a blood donation campaign in the Hawtat Sudair. This campaign has been organized by the Blood Bank Club to educate people regarding the importance of blood donation in saving millions of lives. These frequent blood donation campaigns boost the demand for efficient blood bags to store the collected blood safely. Moreover, collaborative ventures among companies, the advent of new entrants, and frequent product launches have also
been spurring growth in the KSA blood bags market.
Key Players Landscape and Outlook
Numerous healthcare-based companies and blood banks are consistently forming strategic partnerships and distribution agreements, which play a crucial role in driving the expansion of the KSA blood bags market. These partnerships allow firms to gain valuable insights into the market, leverage each other's resources, markets, and technologies, and invest in research and development activities to bring advancements to the market. Distribution agreements enable companies to expand their market presence at a global level. These collaborative initiatives foster innovation, and expertise in product development, and contribute to the sustained and robust growth of the KSA blood bags market. For instance, in March 2023, Bristol Myers Squibb, which is a leading biopharma company, announced its collaborative partnership "Blood and Beyond" to provide resources, such as blood and blood products, including blood bags, further improving blood transfusion management in Saudi Arabia.