The global blood and blood components market is growing, driven by increasing demand for transfusions due to aging populations and chronic diseases. 

Valued at $13.6 billion in 2023, it’s projected to reach over $19 billion by 2034. 

Haemonetics (HAE) plays a key role in this market with its NexSys Plasma Collection System, which boosts plasma yields. 

The company is expanding beyond plasma, acquiring Cardiva Medical and OpSens to enhance its vascular closure systems and guidewires, positioning itself for long-term growth in both the plasma collection and hospital markets.

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The global blood and blood components market is steadily growing due to the rising need for blood transfusions in treating chronic diseases like cancer, anemia, and hemophilia.

In 2023, the market was valued at $13.6 billion, and it’s projected to reach over $19 billion by 2034, with a steady annual growth rate of 3.4%.

This growth is driven by the increasing number of surgeries, trauma cases, and treatments that require blood products. As populations age and chronic diseases become more common, the demand for blood components such as plasma, red blood cells, and platelets is expected to rise.

Technological advancements in blood processing and storage, along with improvements in healthcare infrastructure, have made it easier to manage and distribute blood products.

However, challenges remain; such as declining donor numbers and the high costs of maintaining a safe blood supply. The importance of efficient blood collection and processing technologies is critical to meeting the growing demand.

This is where Haemonetics (HAE) comes into play by providing solutions that enhance the efficiency and safety of plasma and blood collection.

The company has been leveraging its NexSys Plasma Collection System, which offers increased plasma yields and reduced collection times.

These machines allow for a process called apheresis, where only the plasma is separated and collected from the blood, while the remaining components, such as red blood cells and platelets, are returned to the donor.

The NexSys is designed to get the most out of each donor while ensuring safety. It has been shown to increase yields by 9% to 12%, making them crucial in the plasma collection process.

This has been key in meeting the rising demand for plasma, driven by the biopharma industry’s need for plasma-based therapies.

During the pandemic, plasma collection took a hit due to fewer donors and operational challenges. But as things returned to normal, plasma collection bounced back, and Haemonetics has been riding that wave.

Beyond plasma, Haemonetics is expanding its portfolio through smart acquisitions.

The purchase of Cardiva Medical, which brought the Vascade closure system into the fold, has been a win in the hospital market.

Vascade, a device used after heart procedures, is growing fast, and the company is pushing it into international markets like Europe and Japan.

The electrophysiology (EP) market, which is expected to grow with new tech like pulsed field ablation systems, is another area where Vascade could shine, helping hospitals become more efficient and profitable.

Haemonetics hasn’t stopped with Cardiva. The company also acquired OpSens, a Canadian med-tech firm known for its advanced guidewires.

One of its key products, the SavvyWire, simplifies transcatheter aortic valve replacement (TAVR) procedures by combining pressure monitoring and pacing functions.

While the guidewire market is competitive, the company’s established hospital relationships give it an edge in getting these products into more hospitals.

Plasma collection remains its core business, but its investments in vascular closure systems and guidewires are set to drive long-term growth.

As the company continues to build on these opportunities, it’s positioning itself as a leader in both.

Best regards,

Joel Litman & Rob Spivey
Chief Investment Strategist &
Director of Research
at Valens Research