PUBLISHER: Knowledge Sourcing Intelligence | PRODUCT CODE: 1410036
PUBLISHER: Knowledge Sourcing Intelligence | PRODUCT CODE: 1410036
The blood warmer market is estimated to grow at a CAGR of 4.20% during the forecast period.
Blood warmers are medical devices designed to raise the temperature of blood either during or before it is administered. The applications of blood warmers encompass various areas, including surgery, acute care settings, newborn care, home care, and other relevant medical scenarios. The blood warmer market size is significantly expanding owing to the growing surgical procedures, and ambulance services making them prominent drivers for market expansion.
Blood warmers play a crucial role in ambulance services as they are used to maintain the temperature of donated blood during transport and administration. As ambulance services continue to grow, fuelled by increasing demand for emergency medical care coupled with government initiatives and aim to enhance the quality and efficiency of ambulance services. In March 2023, Crockett County (TN) Ambulance Service launched its first rural blood program, enabling on-site blood administration before hospital arrival. The initiative reflects the state's dedication to innovative prehospital care, supported by robust quality control systems, and strategic partnerships with Master Medical Equipment and LIFELINE Blood Services, ensuring proper blood storage and utilization.
Blood warmers are utilized during blood transfusion procedures to maintain the temperature of the donated blood. Keeping the blood warm is essential to prevent hypothermia and associated complications in the recipient. The increasing demand for blood transfusions can be attributed to factors such as advancements in medical procedures, the growing implementation of effective donation programs, and the increasing number of voluntary donors. According to the Pan America Health Organization, in 2020, the Latin America and Caribbean region witnessed a significant supply of transfusion blood with a total of 8.2 million donations. Notably, 48% of these donations were contributed by voluntary donors, showcasing a 2% increase compared to the figures recorded in 2017.
Blood warmers are used in surgical procedures to prevent hypothermia and its associated complications and to maintain optimal body temperature during surgery which is crucial for patient safety and successful outcomes. Government investments have contributed to the growth of surgical procedures by improving healthcare infrastructure, providing funding for advanced surgical technologies, and implementing initiatives to enhance access to surgical services. For instance, the Victorian Government's COVID Catch-Up Plan, implemented in April 2022, aims to address deferred care and reduce waiting lists by increasing surgical capacity. With a $1.5 billion investment, the plan aims to facilitate over 240,000 public patient surgeries annually by 2024, surpassing pre-pandemic levels by more than 40,000 procedures per year.
The Asia-Pacific is expected to hold significant share of the blood warmer market due to the region's large population, coupled with increasing healthcare expenditure and the rising prevalence of chronic diseases, which has created a significant demand for blood warmers. For instance, according to the Ministry of Health and Family Welfare, in July 2021, the Cabinet approved the implementation of the "India COVID-19 Emergency Response and Health Systems Preparedness Package - Phase-II" with a budget of Rs. 23,123 crores. The initiative aims to effectively address the ongoing COVID-19 threat, enhance national health systems' preparedness, and strengthen preventive, detection, and response measures in India.
The development, manufacturing, and maintenance of blood warmers entail considerable expenses, which can create a significant barrier for healthcare facilities, especially those operating in resource-constrained settings or with limited budgets. The initial investment required to procure blood-warming equipment, including the costs associated with research and development, manufacturing processes, quality control, and ongoing maintenance, can be substantial. These financial constraints restrict the ability of healthcare facilities to invest in blood warmers, leading to a lower adoption rate and hindering the overall growth of the blood warmer market.