PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1092224
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1092224
The global autotransfusion devices market was valued at USD 1,580.7 million in 2021, expanding at a CAGR of 6.9% during the forecast period.
To collect and reinfuse the patient's blood, autotransfusion machines are commonly employed. These systems are crucial in cell salvage approaches since they allow autologous blood transfusion to lessen the risk of infections associated with blood transfusions. Cardiovascular, orthopedic, neurological, obstetrics and gynecological, and other invasive operations all use these devices. Intraoperative systems, post-operative systems, and dual-mode systems are the three types of systems based on their usefulness.
Allogeneic blood infusions have a significant risk of causing complications such as post-operative cardiac failures, tumor recurrence, acute lung injury, and post-operative infections. According to multiple patient-based research, the prevalence of transfusion-associated circulatory overload (TACO) and transfusion-related acute lung injury (TRALI) in the United States is believed to be around 1.0 percent and 0.1 percent, respectively. As a result, shifting preferences toward cell salvage can dramatically minimize the need for allogeneic blood transfusion, minimizing the risk of unfavorable effects. For instance, According to a study published in Anesthesia Journal 2018 by NHS, the use of postoperative cell salvage autotransfusion in cardiac and orthopedic procedures reduced allogeneic blood transfusion by roughly 41%. This is expected to drive market expansion throughout the forecast period.
Furthermore, Intraoperative and post-operative cell salvage, as well as blood transfusions, are critical components of blood conservation throughout any surgical procedure. Moreover, the emphasis on preventing problems associated with allogeneic transfusions, as well as an increasing number of high-bleeding procedures, are expected to boost worldwide market expansion throughout the projection period. For instance, According to the American Academy of Orthopaedic Surgeons (AAOS) and the Agency for Healthcare Research and Quality (AHRQ), around 700,000 knee replacement procedures and approximately 450,000 hip replacement procedures are performed in the United States each year. Furthermore, according to a 2021 article released by the University of Alabama, 320,000 Coronary Artery Bypass Grafting procedures were conducted in the United States in 2020. This, together with the growing awareness of intraoperative and postoperative blood salvage, is expected to provide a significant opportunity for the global market's growth.
The autotransfusion devices Market is segmented on the basis of product type, application, end-user, and region.
On the basis of product type, the market is segmented into autotransfusion systems and consumables & accessories. The rising use of autotransfusion systems in developed and developing nations due to its efficacy in blood transfusion is likely to drive the consumable segment growth during the study period.
The market is bifurcated into cardiovascular, orthopedic, neurological, obstetrics, and gynecological surgeries, depending upon the various applications.
Cardiovascular surgeries captured lion's share of the worldwide market in terms of revenue, owing to the increased employment of these devices during cardiovascular surgical procedures. Furthermore, the growing cases of cardiovascular treatments, such as valve replacement surgeries, coronary artery bypass grafting (CABG), heart transplantations, implanted cardioverter-defibrillator (ICD), and others, would help this category flourish.
The market is divided into hospitals, specialty clinics, and others based on end-user.
Over the forecast period, the hospital segment is expected to dominate the global market. During the projection period, the segment is expected to grow due to an increase in the cardiovascular, obstetrics, and gynecological surgeries performed in hospitals.
Furthermore, factors such as evolving healthcare infrastructure in emerging nations and an increasing number of modern healthcare facilities are likely to drive the use of autotransfusion devices in user hospitals, accelerating the growth of the hospital sector in the global market.
The global market is extremely consolidated, with a small number of companies accounting for the majority of autotransfusion device market share. With their competitive product offerings, LivaNova Plc., Haemonetics Corporation, and Fresenius accounted for a significant revenue share during the year 2021. LivaNova Plc has an extensive distribution channel and a diverse product offering. Other established significant players, such as Fresenius SE & Co. KGaA, on the other hand, are currently collaborating with other companies to establish their presence in the global market.
For instance, in November 2021, Fresenius SE & Co. KGaA announced a collaboration with Omnicell, Inc. to provide innovative new pharmacy technology to hospitals and health systems in the United States.
Haemonetics Corporation and Fresenius SE & Co. KGaA are expected to enhance their market shares over the projected period as a result of continual product releases, strategic distribution alliances, and a focus on market penetration in developing markets.
The scope of this report covers the market by its major segments, which include as follows: