Blood processing devices and consumables are used in the collection, separation, and storage of blood and its components, such as red blood cells, platelets, plasma, and white blood cells. These include bags and tubes for collection, centrifuges, freezers, and refrigerators for storage of blood and its components for transfusion.
Market Dynamics:
The Blood Processing Devices and Consumables Market is expected to witness significant growth over the forecast period owing to rising blood donation activities and increasing number of blood disorders across the globe. According to the World Health Organization, around 118.4 million blood donations are collected worldwide from voluntary unpaid donors in 2020. This rising donation has increased the demand for safe blood storage and handling, thereby propelling the market growth. Furthermore, growing incidences of blood disorders such as anemia, blood cancer, and bleeding disorders are also fueling the market growth. For instance, according to the Centers for Disease Control and Prevention, around 5 million Americans are affected by bleeding disorders. This rising prevalence of blood disorders is further augmenting the demand for efficient blood processing consumables and devices and thus accelerating the market growth during the forecast period.
Blood Processing Devices and Consumables Market Drivers
Growing Prevalence of Blood Disorders and Diseases Globally Rising instances of various blood disorders and life-threatening diseases like cancer, hematological diseases, cardiovascular diseases, etc. are majorly driving the need for blood and blood-derived products. Blood disorders are becoming increasingly common owing to unhealthy diets and lifestyles along with genetic disorders and aging population. Growing cases of trauma and injuries from accidents also contribute to the increasing demand for blood and related products. All these factors have significantly boosted the volume of blood collection procedures worldwide, thereby propelling the blood processing devices and consumables market growth.
Advancements in Blood Collection and Processing Technologies
Continuous research and development activities in this field have led to various technological innovations and advancement of blood collection and processing equipment. Many new and advanced blood bags, filters, centrifuges, blood collection needles & tubes and other consumables have been introduced with improved functionalities like reduced turnaround time, enhanced separation efficiency, minimal wastage and better donor/patient safety. Introduction of automated blood collection devices and customizable blood components systems as per specific medical requirements have made blood collection more efficient. Growing integration of IoT and artificial intelligence is further optimizing blood collection procedures. These ongoing technological upgrades are fueling the market expansion.
Blood Processing Devices and Consumables Market Restrain
Stringent Regulatory Framework and Time-Consuming Approval Process The blood processing devices and consumables market is tightly regulated by various governmental bodies to ensure safety, efficacy and quality of blood and blood products. Players in this market have to adhere to stringent standards and undergo a long and complex approval process for new product launches. Getting regulatory clearances is a costly and time-taking process, acting as a major roadblock especially for small businesses. Moreover, frequent changes in regulatory guidelines along with variation in approval processes across regions, further complicate the compliance process. This regulatory challenge remains a key restraining factor inhibiting the market growth potential.
Blood Processing Devices and Consumables Market Opportunity
Increasing Investments and Partnerships for Developing Innovative Solutions Growing market attractiveness has encouraged massive investments by medical device giants as well as startups for developing advanced, affordable and customized blood collection solutions. Continuous funding and partnerships between market players, research institutes as well as government organizations are helping accelerate the research activities. For example, major players are focusing on developing automated blood collection systems integrated with artificial intelligence for real-time donation monitoring and inventory management. Similarly, efforts are ongoing for innovative blood separation solutions using microfluidics technology. Such innovative product developments are expected to bring various opportunities for greater market expansion in the coming years
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Blood Processing Devices and Consumables Market Trend
Emergence of Personalized Blood Collection and Processing Blood collection practices are evolving with growing focus on implementing personalized approaches and point-of-care collection solutions. Manufacturers are developing customized blood collection tubes and filtration systems as per specific requirements of blood disorders, diseases, medical conditions or individual sensitivity. Similarly, portable and compact blood processing kits tailored for resource limited and remote locations are gaining popularity. Rapid advancements in microfluidics and lab-on-chip technologies are further complementing these personalized blood collection trends. Growing demand for customized blood products is likely to reshape the conventional blood processing workflow. This emerging trend towards personalized blood management presents significant growth prospects for market players.
Worldwide, blood processing devices and consumables have been receiving attention from different medical institutions and other health care cent qers where blood banking and blood transfusion are a part of personalized patient care.
There is a growing demand for ready-to-use, reusable blood products which are used to replace individual blood components at the time of a hospitalization or surgical procedure.
Cord blood processing has also gained critical attention for research, bone marrow transplantation and stem cell therapy and the scarcity of cord blood remains a pressing market need.Blood processing is done to separate all blood components, such as plasmas, platelets, and RBCs.
An anticoagulant with dextrose, phosphate, and citrate is used to prevent blood from clotting and maintains cellular function during storage.
In the past, there was no reliable and efficient blood processing devices and consumables available in the market.
Hence, there was a great demand and supply problem in this field.
The report provides top manufacturers, production, application and regions.
Blood Collection, Processing, Management Devices & Consumables market is segmented on the basis of applications, products, end-users and geography.
In blood collection, processing, management devices & consumables market, applications market is further classified into diagnostics, therapeutics, research and others (transplantation compatibility tests and therapeutic drug effect monitoring), whereas diagnostics application market is further sub classified into infectious disease diagnosis, non infectious disease diagnosis, blood typing and others (doping, forensics and pregnancy tests), therapeutic applications are further segmented into hematology diseases, injury, trauma & surgeries and oncology.
The global Blood Collection, Processing, Management Devices & Consumables market is valued at 21200 million US$ in 2018 and will reach 35800 million US$ by the end of 2025, growing at a CAGR of 6.8% during 2019-2025.
Report Sample includes:- Table of Contents- List of Tables & Figures- Charts- Research MethodologyGet FREE Sample of this Report at https://www.24marketreports.com/report-sample/global-blood-collection-processing-management-devices-consumables-2025-750The objectives of this study are to define, segment, and project the size of the Blood Collection, Processing, Management Devices & Consumables market based on company, product type, end user and key regions.This report studies the global market size of Blood Collection, Processing, Management Devices & Consumables in key regions like North America, Europe, Asia Pacific, Central & South America and Middle East & Africa, focuses on the consumption of Blood Collection, Processing, Management Devices & Consumables in these regions.This research report categorizes the global Blood Collection, Processing, Management Devices & Consumables market by top players/brands, region, type and end user.
This report also studies the global Blood Collection, Processing, Management Devices & Consumables market status, competition landscape, market share, growth rate, future trends, market drivers, opportunities and challenges, sales channels and distributors.The following manufacturers are covered in this report, with sales, revenue, market share for each company:Abbott LaboratoriesBio-Rad LaboratoriesBiomerieuxBDDanaherFresenius KabiGrifolsHaemoneticsTo know more manufacturersMarket size by ProductDevicesConsumablesOthersMarket size by End UserHospitalsAcademic Institutes & Research LaboratoriesDiagnostic LaboratoriesAmbulatory Surgical CentersBlood & Blood Component BankOthersMarket size by RegionNorth AmericaUnited StatesCanadaMexicoAsia-PacificChinaIndiaJapanSouth KoreaAustraliaIndonesiaSingaporeMalaysiaPhilippinesThailandVietnamEuropeGermanyFranceUKItalySpainRussiaCentral & South AmericaBrazilRest of Central & South AmericaMiddle East & AfricaGCC CountriesTurkeyEgyptSouth AfricaThe study objectives of this report are:To study and analyze the global Blood Collection, Processing, Management Devices & Consumables market size (value & volume) by company, key regions, products and end user, breakdown data from 2014 to 2018, and forecast to 2025.To understand the structure of Blood Collection, Processing, Management Devices & Consumables market by identifying its various subsegments.To share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks).Focuses on the key global Blood Collection, Processing, Management Devices & Consumables companies, to define, describe and analyze the sales volume, value, market share, market competition landscape and recent development.To project the value and sales volume of Blood Collection, Processing, Management Devices & Consumables submarkets, with respect to key regions.To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market.In this study, the years considered to estimate the market size of Blood Collection, Processing, Management Devices & Consumables are as follows:History Year: 2014-2018Base Year: 2018Estimated Year: 2019Forecast Year 2019 to 2025This report includes the estimation of market size for value (million US$) and volume (K Units).
