The global disposable blood bag market was valued at USD 245.04 million in the year 2018 and is anticipated to grow at USD 592.84 million till 2026 recording a CAGR of 11.65% during 2019 to 2027.
Disposable Blood Bags Market Size and Forecast
Disposable blood bags are used to collect, store, transfuse and transport human blood as well as its constituents. These blood bags are known as biomedical devices. Disposable blood bags are great alternative for glass bottles. People prefer to opt for disposable blood bags rather than glass bottles as these bottles need a deep cleaning, rinsing and autoclaving processes. Moreover, disposable blood bags have the potent to separate blood components like platelets, cryoprecipitate and plasma, which are used for the treatment many blood disorders. There are many prominent features of disposable blood bags such as they are easy to open, have tamper proof and safe enough for easy transfusion. These blood bags also help to prevent contagion. Such blood bags have anticoagulant solutions such as CPD and CPDA. CPD solution is utilized for storing the blood more than 21 days and CPDA solution is utilized for storing the blood more than 35 days. This market report gives a holistic assessment of the market for the mentioned foretell period. It also covers market dynamics including opportunities, challenges, drivers and restraints. It also depicts an outlook about the development of the market for obtaining huge profits from the market.
Global Disposable Blood Bags Market Dynamics
The key factors that lead towards the growth of the disposable blood bags market are growing government initiatives to promote blood collection, blood donation and storage, increasing cases of road accidents, continuously occurring blood related illnesses and growth in figure of blood transfusion processes. Increasing aging population is another market fueling factor. Blood transfusion is used in cardiovascular surgery, haematological therapy, massive trauma and transplant surgery, which in turn boom the market growth. If we take an example, car accident and trauma sufferers needed above than 50 red cell transfusion in the whole treatment process according to NYBC. Increasing awareness for blood donation is anticipated to impel the market growth during the forecast period. Growing research and development activities and growing demand for increasing preference for best blood collection technology are anticipated to create potent revenue opportunities for market players during the forecast period. Lack of robust healthcare infrastructure for collection, storage and distribution of the blood around different low-income countries will restrain the market growth.
Global disposable blood bags market segmentation:
Segmentation by end user:
- Blood Banks
- Others (NGO’s, home healthcare)
Segmentation by blood bag type:
- Single Collection Bags
- Double Collection Bags
- Triple Collection Bags
- Quadruple Collection Bags
Segmentation by region:
- North America
- Latin America
- Asia Pacific
- Middle East & Africa
North America is anticipated to contribute to the huge share in the disposable blood bags market during the forecast period because of growing number of nursing homes, ambulatory centers, increasing cases of blood disorders, multimillion hospitals and increasing demand for disposable blood bags. On the other hand, Asia pacific also shares huge market share because of the increasing count of blood transportation and transfusion procedures and increasing number of trauma incidents.
Major Key players operating in disposable plastic blood bag market are given below:
- Kawasumi Laboratories Inc.
- Neomedic Limited
- Haemonetics Corporation
- Grifols International S.A
- JMS Co. Ltd
- AdvaCare Pharma
- Fresenius SE & Co. KGaA
- Genesis BPS
- SURU International Pvt. Ltd
- Nigale Biomedical Inc. of Sichuan Province Corporation
- Shanghai Transfusion Technology Co. Ltd