PUBLISHER: Global Market Insights Inc. | PRODUCT CODE: 1460166
PUBLISHER: Global Market Insights Inc. | PRODUCT CODE: 1460166
Autotransfusion Devices Market size is poised to expand at 6.2% CAGR between 2024 and 2032, propelled by the rising number of surgeries and continuous new product developments.
With the growing number of surgical procedures globally, particularly in orthopedics, cardiac, and trauma surgeries, the demand for autotransfusion devices is significantly rising. Rising technology advancements are leading to the development of innovative autotransfusion devices with improved features, such as enhanced filtration systems, compact designs, and user-friendly interfaces. For instance, in February 2024, ProCell Surgical received CE-marked clearance for its Sponge Blood Recovery Unit, a patented device that improves intraoperative autotransfusion (IAT) systems in hospitals.
Of late, healthcare systems are also allocating funds towards improving surgical outcomes and reducing transfusion-related complications. According to the National Health-Hospital Federation of India, the healthcare sector is advocating for an increase in healthcare expenditures to 2.5% of GDP. Moreover, the growing focus on patient safety and efficient resource utilization will further boost the market growth.
The autotransfusion devices industry is segmented into product, application, end-use, and region.
Based on product, the market size from the consumables & accessories segment is projected to record 5.9% growth rate from 2024-2032. Of late, blood collection bags, filters, tubing sets, and suction canisters are playing a crucial role in autotransfusion procedures. The rising number of surgeries requiring blood transfusions coupled with advancements in autotransfusion technology are boosting the demand for high-quality consumables and accessories. Hospitals and surgical centers rely on these products for efficient and safe blood recovery and reinfusion during procedures. Additionally, the strong emphasis on reducing transfusion-related complications and improving patient outcomes is further propelling the adoption of advanced consumables.
In terms of application, the autotransfusion devices industry from the orthopedic surgeries segment generated considerable revenue in 2023 and is estimated to witness 6.6% CAGR between 2024 and 2032. Orthopedic surgeries, such as joint replacements and spinal procedures, often require blood transfusions due to the potential for significant blood loss. Autotransfusion devices are essential in collecting, filtering, and reinfusing a patient's blood while reducing the need for allogeneic transfusions and associated risks. With the rising demand for orthopedic procedures due to an aging population and increasing sports injuries, the need for efficient blood management solutions is expected to remain steady.
Regionally, the Asia Pacific autotransfusion devices industry is set to exhibit 7.1% CAGR during 2024-2032 owing to the rising prevalence of chronic diseases, increasing number of surgeries, and improving healthcare infrastructure. Countries, such as China, India, and Japan are witnessing a surge in orthopedic, cardiac, and trauma surgeries, creating a substantial demand for autotransfusion devices. Additionally, the presence of an aging population and growing awareness about blood safety and transfusion risks are fueling the regional market growth.