What is ANEMIA ? Anemia is the most common of all blood disorders. The term anemia (derived from Greek) means a deficiency of blood. Anemia results from reduced red blood cell production in the bone marrow. Hemoglobin is the oxygen carrying protein in blood. It is a major component of all red blood cells and gives them their red color. This protein picks up oxygen from the lungs, carries it throughout the body and delivers it to all your cells. In addition, hemoglobin also picks up some of the carbon dioxide produced by the cells and transports it to the lungs from where it is exhaled out.