The research report, titled ‘Global Blood Processing Devices And Consumables Market 2016-2020,’ states that the market is primarily driven by the rising focus on the safety of donated blood and the rising blood transfusion surgical procedures. As per the findings of the report, the global blood processing devices and consumables market is predicted to expand at an 8.52% CAGR during the period between 2016 and 2020.
Blood processing devices and consumables are in demand from healthcare institutes, medical care centers, hospitals, and blood storage laboratories. The growing variety of blood processing devices and consumables is predicted to propel the market, according to the report.
Clinics, blood banks, hospitals and ASCs, and research laboratories are the primary end users of blood processing devices and consumables. Efforts are being taken by key manufacturers to improve and enhance the quality of blood processing devices and consumables. By introducing superior blood processing devices, key companies are aiming to minimize the spread of infections through blood donations.
Cord blood processing has gained tremendous importance in the global blood processing devices and consumables market, as it is extensively used for treatment of hematological diseases and stem cell research. Gentle gravity-dependent flow techniques and electricity-based centrifugal techniques are being increasingly used for cord blood processing.
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The report highlights the key factors boosting and restricting the growth of the market. Favorable reimbursement policies and the growing automation of blood processing devices are predicted to benefit the market. However, the lack of reimbursement policies in underdeveloped nations is expected to affect the growth of the market. Rising blood donations have led to an increase in the spread of various infections through improper blood donations. The introduction of new devices for safe blood donation is predicted to propel the global market for blood processing devices and consumables. The rising blood transfusion surgical procedures are also anticipated to minimize infections, thus boosting the demand for blood processing devices and consumables.
For a detailed study, the market is regionally divided into EMEA, APAC, and the Americas. Some of the key organizations operating in the global blood processing devices and consumables market are Abbott Laboratories, Becton, Dickinson and Company, bioMerieux, Bio-Rad Laboratories, Thermo Fisher Scientific, Beckman Coulter, Fenwal, Fresenius Kabi, Grifols International, Haemonetics, Immucor, Macopharma, Roche Holdings, Stago, and Terumo. As per the research, the market is expected to benefit from partnerships and collaborations happening between startups and key companies. With partnerships, startups are anticipated to adopt to the changing trends and key companies are likely to maintain their dominance by increasing their contribution.
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