SEATTLE, March 22, 2021, (MEDGADGET) — Global Blood Processing Devices and Consumables Market, by Product Type (Devices (Plasma Freezers, Blood Bank Refrigerators, Lab Refrigerators, Lab freezers, Ultra-low Temperatures, Shock Freezers, Grouping Analyzers, Warmers, Hematocrit Centrifuges, and Cell Processors), and Consumables (Blood Administration Sets, Blood Bags, Blood Collection Needles, Blood Collection Tubes, Blood Filters, Blood Lancets, Blood Grouping Reagents, Blood Coagulation Reagents, Hematology Reagents, Slides, Sedimentation Tubes, Slide Stainer, Test Tube Racks, and Vials)), by End User (Hospitals & Clinics, Blood Banks, Diagnostic Laboratories, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa), was valued at US$ 33,213.9 Mn in 2018 and is projected to exhibit a CAGR of 7.1% during the forecast period (2020–2027).
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The rising geriatric population and increasing focus of leading companies on long-term partnerships with end users are expected to fuel demand for blood processing devices and consumables, thereby driving the global blood processing devices and consumables market growth over the forecast period. The global blood processing devices and consumables market size is expected to witness significant growth over the forecast period, owing to various government initiatives to set up blood screening centers, especially in emerging economies. This trend is largely prevalent in China, India, and Russia, with rising number of blood centers in these countries in the recent past. This provides lucrative growth opportunities for market players to expand their business reach across emerging economies and enhance their market share over the forecast period.
Increasing incidence rate of infectious diseases and chronic disorders such as cancer, especially among the geriatric population have been witnessed. According to the World Health Organization (WHO), in 2015, globally, over 150 million people suffered from chronic hepatitis C virus, of which 700,000 die each year due to lack of suitable healthcare infrastructure and diagnosis centers. Various technological advancements in the healthcare industry is projected to be useful in bridging the gap between patient’s expectation and healthcare delivery system. The blood processing devices and consumables market is highly saturated in developed regions, however, emerging regions, especially Asia Pacific, is largely untapped and offers lucrative growth opportunities for market players.
Browse 25 Market Data Tables and 28 Figures spread through 150 Pages and in-depth TOC on Global Blood Processing Devices and Consumables Market, by Product Type (Devices (Plasma Freezers, Blood Bank Refrigerators, Lab Refrigerators, Lab freezers, Ultra-low Temperatures, Shock Freezers, Grouping Analyzers, Warmers, Hematocrit Centrifuges, and Cell Processors) and Consumables (Blood Administration Sets, Blood Bags, Blood Collection Needles, Blood Collection Tubes, Blood Filters, Blood Lancets, Blood Grouping Reagents, Blood Coagulation Reagents, Hematology Reagents, Slides, Sedimentation Tubes, Slide Stainer, Test Tube Racks, and Vials)), by End User (Hospitals & Clinics, Blood Banks, Diagnostic Laboratories, and Others), and Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Global Forecast to 2027
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Key Takeaways of the Global Blood Processing Devices and Consumables Market:
- The global blood processing devices and consumables market is expected to exhibit a CAGR of 1% during the forecast period (2020–2027). This is attributed to frequent product launches and approvals, and robust pipeline of novel blood processing devices and consumables.
- Governments across the globe play a major role in creating national platforms for blood screening and blood bank centers. The rising geriatric population and increasing incidence rate of blood-related disorders are projected to boost growth of the global blood processing devices and consumables market.
- North America and Europe are highly matured blood processing devices and consumables market. In order to maintain their dominant position, leading players such as Abbott Laboratories, Roche Holdings AG, and Terumo Corporation are focusing on establishing a direct distribution channel. Setting up of cord blood bank center in these regions is expected to create substantial market opportunity for players in the market.
- There are over 13 thousand blood bank centers, worldwide. The number is especially high in low to middle income countries, particularly India, Indonesia, and Vietnam. The demand for blood bank refrigerators will increase globally due to the establishment of increasing number of blood bank centers. The global blood bank market is highly consolidated, with leading players accounting for around 80% of the global market. Players newly entering the market are expected to provide bank refrigerators during the forecast period.
- While the overall blood processing devices segment is consolidated, it is highly fragmented in consumables segment with large presence of regional players, especially in China and India
- Major players operating in the global blood processing devices and consumables market include Abbott Laboratories, Becton, Dickinson and Company, Roche Holding AG, Bio-Rad Laboratories, Biomerieux SA, Immucor, Inc., Danaher Corporation, Terumo Corporation, Macopharma SA, Grifols International, Haemonetics Corporation, and Thermogenesis Corporation.
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