PUBLISHER: The Business Research Company | PRODUCT CODE: 1414061
PUBLISHER: The Business Research Company | PRODUCT CODE: 1414061
“Blood Processing Devices And Consumables Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on blood processing devices and consumables market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for blood processing devices and consumables? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The blood processing devices and consumables market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Blood processing devices and consumables encompass a range of equipment and supplies pivotal in collecting, isolating, managing, and preserving blood components essential for various medical procedures. These tools are integral in facilitating procedures such as blood transfusions, therapeutic apheresis, and other clinical interventions reliant on blood products.
The primary types of products within blood processing devices and consumables include the devices themselves and the consumable elements. Blood processing devices pertain to instruments employed in the collection, separation, processing, and storage of blood and its components. This category further segments into various devices, such as blood bank freezers, blood grouping analyzers, blood warmers, blood cell processors, and other similar apparatuses facilitating blood processing. Additionally, blood processing devices and consumables are further classified by consumable items, such as blood bags, lancets for blood collection, vials for storage, blood administration sets, and other essential consumables used in the process. These tools find application among diverse end-users, including hospitals, diagnostic centers, clinics, academic institutes, and blood banks, supporting their essential roles in healthcare and research settings.
The blood processing devices and consumables market research report is one of a series of new reports from The Business Research Company that provides blood processing devices and consumables market statistics, including blood processing devices and consumables industry global market size, regional shares, competitors with a blood processing devices and consumables market share, detailed blood processing devices and consumables market segments, market trends and opportunities, and any further data you may need to thrive in the blood processing devices and consumables industry. This blood processing devices and consumables market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The blood processing devices and consumables market size has grown strongly in recent years. It will grow from $45.33 billion in 2023 to $49.09 billion in 2024 at a compound annual growth rate (CAGR) of 8.3%. The upsurge observed during the historic period can be ascribed to several factors, including the rise in blood donation rates, advancements in the field of transfusion medicine, the escalating prevalence of blood disorders, worldwide initiatives aimed at ensuring safe blood transfusion practices, and an increase in the number of surgical procedures conducted globally.
The blood processing devices and consumables market size is expected to see strong growth in the next few years. It will grow to $68.54 billion in 2028 at a compound annual growth rate (CAGR) of 8.7%. Anticipated growth in the forecast period can be credited to several factors, notably the escalating demand witnessed in emerging economies, the continual increase in the elderly population, the prominence of point-of-care blood processing, a growing emphasis on autologous blood transfusions, a rising demand for apheresis procedures, and strategic collaborations geared towards research and development initiatives.
The escalating demand for blood transfusions is set to propel growth in the blood processing devices and consumables market. These devices and consumables, crucial for ensuring the safety and effectiveness of blood and its products during transfusion, are increasingly sought after due to the rising disease burden. For instance, in 2021, the World Cancer Research Fund International reported an estimated 1.9 million global cancer cases, while in the United States, around 90,000 to 100,000 sickle cell disease patients require regular blood transfusions. This surge in transfusion demand, driven by escalating disease instances, is poised to drive the blood processing devices and consumables market forward.
The burgeoning prevalence of chronic diseases is expected to fuel the expansion of the blood processing devices and consumables market. These enduring health conditions, often manageable but not curable, necessitate the use of blood processing devices and consumables in various treatments. They facilitate safe blood sample collection, processing, storage, and transportation for managing chronic diseases. For example, anticipated cancer diagnoses of around 2 million in 2022 in the United States, a significant rise from the 1 million reported cases in 2021, emphasize the growing demand for such devices and consumables. This trend signifies a driving force for the market, courtesy of the increased need for blood transfusion due to the growing disease burden.
The blood processing devices and consumables market witness widespread technological advancements. Major players in this sector prioritize technological progress to develop sophisticated and advanced devices and consumables. These innovations aim to enhance the safety and efficiency of blood processing and transfusion. For instance, in April 2021, EryPharm, a France-based biotechnology company, introduced a medical device to mass-produce cultured red blood cells, benefiting patients with hereditary or acquired diseases of the red blood cells, thereby elevating their quality of life.
Key companies in the blood processing devices and consumables market concentrate on technological innovations, such as needle-free blood collection devices, to strengthen their market presence. These devices, designed to collect blood sans traditional needles or syringes, represent a significant advancement. In November 2023, Becton, Dickinson and Company (BD), a US-based medical device manufacturer, launched the 'PIVO Pro Needle-free Blood Collection Device.' Integrated with long peripheral IV catheters, this compact device facilitates direct blood sample extraction from a patient's peripheral IV line. Its clinical advantages include reduced catheter complications and extended dwell times, marking a notable leap in blood collection technology.
In 2021, BD (Becton, Dickinson and Company), a prominent US medical device firm, completed the acquisition of Velano Vascular for an undisclosed sum. This strategic acquisition empowers BD to augment its current lineup of vascular access offerings and solutions tailored for healthcare providers, specifically catering to patients necessitating frequent blood draws. Velano Vascular, a US-based medical technology company, specializes in pioneering needle-free blood draw solutions designed for hospital patients.
Major companies operating in the blood processing devices and consumables market report are Thermogenesis Holdings Inc., Maco Pharma International GmbH, Immucor Inc., Bio-Rad Laboratories Inc., Grifols S.A., Abbott Laboratories, Terumo BCT Inc., Beckman Coulter Inc., Becton Dickinson and Company, Biomerieux SA, Danaher Corporation, Global Scientific Company, Haemonetics Corporation, Sigma Laborzentrifugen GmbH, SARSTEDT AG & Co K, Roche Holdings AG, Beurer GmbH, Cardinal Health Inc., Fresenius Kabi AG, Lmb Technologie GmbH, Fenwal Inc., Kawasumi Laboratories Inc., F. Hoffmann-La Roche Ltd., Thermo Fisher Scientific Inc., Poly Medicure Ltd., Medtronic plc., Nipro Corporation, Sekisui Chemical Co Ltd., Greiner Bio-One International GmbH
North America was the largest region in the blood processing devices and consumables market in 2023. Asia-Pacific is expected to be the fastest-growing region in the global blood processing devices and consumables market report during the forecast period. The regions covered in the blood processing devices and consumables market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the blood processing devices and consumables market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
The blood processing devices and consumables market consists of sales of equipment, maintenance, repairs, and supplies such as blood bags, needles, blood group typing reagents, and other diagnostic kits. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.