Blood Processing Devices and Consumables Market to Register Robust CAGR in Coming Years
Rising number of blood
transfusion procedures and increasing cases of infectious diseases to drive
global blood processing devices and consumables market
According to
TechSci Research report, “Global Blood Processing Devices and Consumables Market By Product (Devices,
Consumables), By Usage (Red Blood Cells, Plasma, Platelets), By End User (Blood
Banks, Hospitals, Clinics), By Region, Forecast & Opportunities, 2025” the market is expected
to witness significant rate of growth during the forecast period owing to factors
such as rising prevalence of infectious diseases and surge in surgical
treatments where blood transfusion is needed,
increasing geriatric population prone to various medical conditions requiring a
blood transfusion, etc. Additionally, increasing research and development
activities in regenerative medicine and cell therapies is also expected to fuel
demand for blood processing devices and consumables in the coming years.
With the increase in number of hospitals and blood
banks globally and rising demand for organ transplantation and steam cell
therapies, the global blood processing devices and consumables market is
expected to grow further in the coming years. The requirement of blood from
blood donors and blood banks increases particularly during surgical procedures,
thereby fueling the requirement for blood processing and consumable devices to
collect and process it. Also,
introduction of new devices and them being user-friendly, is expected to contribute
towards the market growth of blood processing devices and consumables until
2025. The presence of favorable reimbursement policies and their effect on
hospitals’ and surgical processes’ operational guidelines is expected to boost
the market growth.
However, the global blood processing devices and
consumables market might also face some restraints in its growth. High
manufacturing cost and fluctuating raw material prices might hamper the growth
of global blood processing devices and consumables market. In addition,
stringent government regulation is another factor that might impact the overall
growth of this market.
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The global
blood processing devices and consumables market is segmented based on product,
usage, end user and region. Based on product, the market is segmented into devices
and consumables. The devices segment is further segmented into blood bag
centrifuge, plasma extractor, automated blood processing machine, freezer (low
temperature and plasma snap), refrigerator and others. The consumables segment
is divided into blood bag, reagents, filters, sealers, blood collection tube,
blood dispenser, pipette tip, syringe tip and others. Among the two, the
devices segment accounts for largest market share owing to inherently
capital-intensive nature of equipment for these technologies and their pivotal
role in almost all forms of R&D projects implemented in the industry.
Based
on end-user, the global blood processing devices and consumables market is
segmented into blood banks, hospitals and clinics. Blood banks hold the largest
market share as they witness high demand for blood processing devices and
consumables for blood collection and donation.
Beckman Coulter,
Inc., Thermogenesis Holdings, Inc., Haemonetics Corporation, Maco Pharma
International GmbH , Polymed Holding AG,
Immucor, Inc., Becton, Dickinson and Company, Fresenius SE & Co KGaA, Neomedic
Limited, Teleflex Incorporated, Bio-Rad Laboratories, Inc., Grifols, S.A., Abbott
Laboratories, Global Scientific Company, Sigma Laborzentrifugen GmbH, Terumo
BCT, Inc, BioMerieux SA, Poly Medicure Ltd., Troge Medical GmbH and Thermo
Fisher Scientific, Inc. are some of the leading players operating in global blood
processing devices and consumables market. Key blood processing devices and
consumables manufacturers are focusing on development of their product
portfolios to mark their strong presence in the blood processing devices and
consumables market globally.
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“The World Health Organization (WHO) date reveals that around 112.5
million units of donated blood is collected around the world every year. This
clearly shows surge in the demand for blood processing devices and consumables.
Growth in cases of infectious diseases, and recent outbreak of novel
coronavirus are expected to further accelerate the demand for these products.
Manufacturers need to focus on increasing the productivity and cost-efficient
products to make a strong presence in the global blood processing devices and
consumables market”, said Mr. Karan Chechi, Research Director with TechSci
Research, a research based global management consulting firm.
“Global Blood Processing
Devices and Consumables Market By Product (Devices, Consumables), By Usage (Red
Blood Cells, Plasma, Platelets), By End User (Blood Banks, Hospitals, Clinics),
By Region, Forecast & Opportunities, 2025” has evaluated
the future growth potential of global blood processing devices and consumables market
and provides statistics & information on market size, structure and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision makers take sound investment decisions. Besides, the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges and opportunities in global blood processing devices and consumables
market.
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