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Forecast Period
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2024-2028
|
|
Market Size (2022)
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USD 2.59 Billion
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CAGR (2023-2028)
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6.21%
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Fastest Growing Segment
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Apheresis Systems
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Largest Market
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North America
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Market Overview
Global Blood Transfusion Devices Market
has valued at USD 2.59 Billion in 2022 and is anticipated to project impressive
growth in the forecast period with a CAGR of 6.21% through 2028. Blood
transfusion is a medical procedure involving the administration of blood and
its components to patients in order to replace lost blood components. This
technique is performed by inserting a venous access device and catheter into a
central or peripheral vein, or by utilizing an apheresis system or infusion
pump to deliver the blood or blood components. Blood transfusion finds broad
applications in the treatment of various medical conditions, including blood
cancers. In recent times, there has been a significant increase in the number
of different types of surgeries worldwide. Cardiovascular procedures,
C-sections, accident injuries, and trauma are among the main surgical
procedures that often require blood transfusion. As a result, the global market
for blood transfusion devices is expected to witness a surge in demand during
the forecast period.
Key Market Drivers
Increasing
Number of Surgical Procedures
The increasing number of surgical
procedures worldwide is driving a substantial surge in the demand for blood
transfusion devices. Surgical interventions often necessitate blood
transfusions to replace lost blood, maintain hemodynamic stability, and ensure
patient safety. The increasing number of surgical procedures worldwide, coupled
with advancements in medical technology and the importance of patient safety,
has led to a significant uptick in the demand for blood transfusion devices.
These devices play a crucial role in supporting surgical interventions,
ensuring that patients receive timely and appropriate blood transfusions when
needed, and are thus indispensable tools in modern healthcare systems. As
surgical demand continues to rise, the demand for efficient and reliable blood
transfusion devices is expected to persist.
As the global population grows and ages,
the demand for surgical interventions has surged. People are living longer and
undergoing various surgeries to address a wide range of health conditions,
including cardiac surgeries, organ transplants, orthopedic procedures, and
cancer treatments. Many of these surgeries involve complex and invasive
techniques, which can result in significant blood loss, necessitating the use
of blood transfusion devices. Patient safety is a paramount concern in
healthcare. Blood transfusion devices help ensure that patients receive the
right type and quantity of blood components at the right time. Advanced
features such as barcode scanning, real-time monitoring, and automated blood
tracking systems enhance the safety and accuracy of transfusions, reducing the
risk of errors and transfusion-related complications. Blood transfusion devices
are indispensable tools in modern healthcare systems, especially with the
increasing number of surgical procedures, technological advancements, and the
unwavering focus on patient safety. They ensure that patients receive timely
and appropriate blood transfusions during surgeries, improving outcomes and
reducing risks. As surgical demand continues to rise, the demand for efficient,
reliable, and innovative blood transfusion devices is expected to persist,
further driving advancements in this critical aspect of healthcare.
Rise
in the Number of Blood Disorders
The rise in the number of blood
disorders is undeniably increasing the demand for blood transfusion devices, as
these disorders often necessitate frequent transfusions to manage symptoms and
improve patients' quality of life. The prevalence of blood disorders, such as
anemia, hemophilia, and various types of leukemia, has been steadily increasing
due to factors such as population growth, aging, and improved diagnostic
capabilities. As more individuals are diagnosed with these conditions, the
demand for blood transfusions to treat anemia, provide clotting factors for
hemophilia, or replenish blood components in leukemia patients has surged. Moreover,
advancements in medical research and treatments have extended the life
expectancy of individuals with blood disorders. Patients are living longer,
necessitating ongoing transfusion therapy to manage their conditions
effectively. This prolonged need for transfusions contributes to the sustained
demand for blood transfusion devices.
Furthermore, there is a growing
recognition of the importance of blood transfusion therapy in improving the
quality of life for patients with blood disorders. Transfusions can alleviate
symptoms such as fatigue, weakness, and pain, allowing individuals to lead more
fulfilling and productive lives. As healthcare providers and patients become
more aware of these benefits, the demand for blood transfusion devices remains
on the rise.
Increase
in the Number of Accidents
The increase in the number of accidents,
particularly those involving trauma and severe injuries, has been a significant
driver behind the rising demand for blood transfusion devices. Accidents, such
as road accidents, industrial mishaps, natural disasters, and sporting
injuries, can result in substantial blood loss, necessitating immediate and
life-saving transfusions. The global population's expansion and urbanization
have led to increased vehicular traffic and industrial activities, resulting in
a higher frequency of accidents. These accidents can lead to severe injuries,
including internal bleeding, fractures, and head trauma, all of which may
require immediate surgical interventions and blood transfusions. Moreover,
natural disasters, such as earthquakes, hurricanes, and floods, often lead to a
surge in casualties with traumatic injuries. In such emergency situations,
access to blood transfusion devices becomes essential to ensure that injured
individuals receive the necessary blood components promptly.
The increase in the number of accidents,
often resulting in severe injuries and significant blood loss, has driven a
notable increase in the demand for blood transfusion devices. These devices
play a life-saving role in emergency and trauma care, ensuring that accident
victims receive the critical blood components they need to survive and recover.
As accidents continue to occur, the demand for efficient and reliable blood
transfusion devices is expected to remain high, underlining their essential
role in modern healthcare and emergency response systems.
Technological
Advancements in the Devices
Technological advancements in blood
transfusion devices are playing a pivotal role in increasing their demand,
transforming the landscape of blood banking, healthcare delivery, and patient
outcomes. Several key factors contribute to the growing need for these advanced
devices. The integration of cutting-edge technologies into blood transfusion
devices has significantly improved their safety and efficiency. Automated blood
component separators, for example, allow for the precise separation of whole
blood into its individual components, such as red blood cells, plasma, and
platelets. This capability not only maximizes the utility of donated blood but
also reduces the risk of transfusion-related adverse reactions, thereby
increasing patient safety.
Moreover, sophisticated monitoring
systems and software have been incorporated into blood transfusion devices,
allowing for real-time tracking of blood products from donation to
administration. This traceability ensures the integrity and quality of blood
components, reducing the likelihood of errors and enhancing patient safety. Additionally,
technological advancements have enabled the development of portable and compact
blood transfusion devices. These portable devices are particularly valuable in
emergency and remote healthcare settings, where access to traditional blood
bank facilities may be limited. This portability increases the accessibility of
transfusion therapy, improving patient care and outcomes, especially in
critical situations.
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Key Market Challenges
Increased
Demand for Minimally Invasive Surgery
In recent years, there has been a
noticeable shift in patients' preferences, with a gradual move away from
invasive treatments towards the adoption of minimally invasive surgeries. This
change is driven by various factors, such as the potential for reduced hospital
stays, lower costs, faster patient recovery, and enhanced patient comfort.
These advantages are expected to contribute to the growing popularity of
minimally invasive surgery, as patients increasingly seek out procedures that
offer these benefits.
Looking ahead, invasive procedures are
expected to persist throughout the predicted timeframe. However, the increasing
utilization of minimally invasive operations is anticipated to minimize the
need for blood conservation or allogeneic transfer, as these procedures
typically result in minimal blood loss. This not only reduces the risks
associated with blood transfusions but also provides a safer and more efficient
surgical experience for patients.
By offering a little more detail, it
becomes evident that the shift towards minimally invasive surgeries is driven
by the desire for improved patient outcomes, reduced healthcare costs, and
enhanced overall patient satisfaction.
Bloodborne
Infections due to Blood Transfusion System
According to the World Health
Organization, a significant number of infants with thalassemia are born in
low-income nations, where access to blood transfusion services is often limited
or restricted to a small fraction of the population. This scarcity of blood
transfusion resources not only poses challenges but also has adverse effects on
the healthcare system, impacting the overall well-being of patients in need. In
addition to the limited availability of transfusion services, patients who do
receive blood transfusions may experience complications such as fever, viral
and infectious illnesses, allergic responses, and even bloodborne diseases,
further exacerbating the healthcare burden in these regions. These factors,
combined with the inherent challenges faced by low-income countries, are
expected to significantly hinder the growth and expansion of the thalassemia
treatment market in these underserved areas.
Key Market Trends
Technical
Improvements
According to the American Cancer
Society, an estimated 1.32 million individuals are currently living with
leukemia and lymphoma, two types of blood cancers. Similarly, the National
Kidney Foundation reports that chronic kidney disorders affect approximately
10% of the global population, highlighting the widespread impact of these
conditions. As the incidence of chronic illnesses continues to rise, the demand
for blood and blood products is expected to increase significantly,
consequently driving the growth of the blood transfusion devices market.
Moreover, advancements in apheresis devices, infusion pumps, blood warmers, and
transfusion filters have not only improved the safety of blood transfusions but
also enhanced the quality of the blood, ensuring highly purified and safe
transfusions for patients in need. These technical improvements have played a
crucial role in making blood transfusions more accessible and beneficial for
individuals requiring such medical interventions.
Introduction
Of Enhanced Diagnostics and Kits
With the continuous advancement of
technology in the healthcare sector, we are witnessing remarkable breakthroughs
in diagnostic capabilities, leading to more reliable and accurate results.
Moreover, the introduction of innovative reagents and kits for blood
transfusion is revolutionizing the field, ensuring safer and more efficient
procedures.
Market participants are actively working
towards incorporating these technological improvements into testing
methodologies, aiming to enhance the overall quality and efficiency of medical
diagnostics. An example of such progress is the development of plasma
fractionation techniques, which enable the separation and isolation of specific
blood components for various therapeutic applications. This technical
innovation opens up new possibilities and avenues for market expansion. Furthermore,
the increasing demand for molecular-based illness screening is driving the need
for advanced diagnostic systems. These sophisticated platforms not only provide
faster and more accurate results but also enable early detection and
personalized treatment approaches. With regulatory approvals and widespread
adoption, these cutting-edge systems have the potential to significantly impact
the market throughout the projected period.
Segmental Insights
Product Insights
Based on Product, the market for Blood Transfusion Devices is
segmented into Apheresis Systems, Infusion Devices, Blood Warmers, Venous
Access Devices, Filters, and Others. In 2022, the Apheresis Systems segment
emerged as the dominant force in the market. This can be attributed to its
wide-ranging applications in the treatment of leukostasis, a condition
characterized by an elevated white blood cell count in leukemia patients.
Additionally, the apheresis system is also utilized in the management of severe
rheumatoid arthritis, aiding in the reduction of risks associated with
antibody-mediated rejection of organs. Furthermore, it proves beneficial in the
treatment of various conditions such as Goodpasture syndrome, systemic lupus,
dermatomycosis, and polymyositis. With such versatile applications, the
Apheresis Systems segment is expected to drive significant growth in the market
over the forecast period.
End User Insights
Based on
the end user segment, the market for blood transfusion devices is segmented
into hospitals, ambulatory surgical centers, dialysis centers, blood banks, and
other facilities. In 2022, the hospitals segment emerged as the dominant player
in the market. This can be attributed to the growing number of surgical
procedures being performed in hospital settings, which is expected to drive the
growth of this segment.
Furthermore,
the increasing prevalence of obstetrics and gynecological procedures, such as
cesarean sections and hysterectomies, being carried out in hospitals
contributes to the demand for blood transfusion devices. Additionally, the
rising number of cardiovascular procedures, including bypass surgeries and
angioplasties, being conducted in hospital settings further bolsters the
overall market growth over the forecast period. These trends highlight the
significant role that hospitals play in the adoption and utilization of blood
transfusion devices in the healthcare industry. As hospitals continue to be the
primary location for various medical procedures, the demand for efficient and
reliable blood transfusion devices is expected to witness sustained growth.
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Regional Insights
North
America, consisting of the United States, Canada, and Mexico, is projected to
hold a dominant share in the blood transfusion devices market from 2024 to
2028. This can be attributed to several factors. Firstly, the presence of key
players in the United States contributes significantly to its large market
share. Additionally, the rising healthcare expenses in the region, coupled with
the increasing number of surgeries, further fuels the demand for blood
transfusion devices. Moreover, the region benefits from growing government
frameworks and an expanding healthcare infrastructure, which enhance the
accessibility and adoption of blood transfusion devices. Furthermore, the
awareness of blood transfusion devices is increasing due to the scarcity of
allogeneic blood, further driving the market growth in North America.
On the
other hand, the Asia Pacific region is expected to exhibit the highest compound
annual growth rate (CAGR) in the blood transfusion devices market. This growth
can be attributed to various factors as well. The region is witnessing a rise
in chronic illnesses, which necessitates the use of blood transfusion devices
for effective blood management. Moreover, the increasing awareness of cell
salvage technologies among healthcare professionals and the general population
further drives the demand for blood transfusion devices. Additionally, the
region is witnessing increased investments in healthcare infrastructure, which
positively impacts the market size of blood transfusion devices. In conclusion,
both North America and the Asia Pacific region are poised to experience
significant growth in the blood transfusion devices market, driven by various
factors unique to each region.
Recent Developments
- In May
2022, Vitestro introduced an autonomous blood collection device. This
innovative device combines artificial intelligence (AI) and ultrasound-guided
3D reconstruction with robotic needle insertion to ensure precise and secure
blood collection.
- In April
2022, Owen Mumford launched safety blood collection devices under its Unistik
brand.
- In January 2020, Fresenius Kabi invested EUR 30 million in
expanding its transfusion and apheresis disposables factory in the Dominican
Republic. The expansion was driven by the growing demand for these high-quality
disposables.
Key Market Players
- Immucor Inc.
- Becton Dickinson and Company
- B. Braun Melsungen AG
- Terumo Corporation
- Grifols SA
- Kaneka Corporation
- Fresenius Kabi AG
- Haemonetics Corporation
- Macopharma SA
- Ecomed Solutions, LLC.
|
By Product
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By Blood Component
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By End User
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By Region
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- Apheresis Systems
- Infusion Devices
- Blood Warmers
- Venous Access Devices
- Filters
- Others
|
- Whole Blood
- Plasma
- RBC
- Others
|
- Hospital
- Ambulatory Surgical
Centers
- Dialysis Centers
- Blood Bank
- Other
|
- North America
- Europe
- Asia Pacific
- South America
- Middle East &
Africa
|
Report Scope:
In this report, the Global Blood Transfusion Devices Market has been segmented into the following categories, in addition to the
industry trends which have also been detailed below:
·
Blood Transfusion
Devices Market, By Product:
o Apheresis Systems
o Infusion Devices
o Blood Warmers
o Venous Access Devices
o Filters
o Others
·
Blood Transfusion
Devices Market, By Blood Component:
o Whole Blood
o Plasma
o RBC
o Others
·
Blood Transfusion
Devices Market, By End User:
o Hospital
o Ambulatory Surgical
Centers
o Dialysis Centers
o Blood Bank
o Other
·
Blood Transfusion
Devices Market, By Region:
o North America
§ United States
§ Canada
§ Mexico
o Europe
§ France
§ United Kingdom
§ Italy
§ Germany
§ Spain
o Asia-Pacific
§ China
§ India
§ Japan
§ Australia
§ South Korea
o South America
§ Brazil
§ Argentina
§ Colombia
o Middle East & Africa
§ South Africa
§ Saudi Arabia
§ UAE
Competitive Landscape
Company
Profiles: Detailed
analysis of the major companies present in the Global Blood Transfusion Devices
Market.
Available Customizations:
Global Blood Transfusion Devices market report with the given market data,
Tech Sci Research offers customizations according to a company's specific
needs. The following customization options are available for the report:
Company Information
- Detailed analysis and profiling of additional market players (up to
five).
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