Blood Transfusion Devices Market to Grow with a CAGR of 6.21% through 2028
Increasing number of surgical procedures and rise in
the number of blood disorders is expected to drive the Global Blood Transfusion
Devices Market growth in the forecast period, 2024-2028.
According to
TechSci Research report, “Blood Transfusion Devices Market – Global Industry
Size, Share, Trends, Competition Forecast & Opportunities, 2028”,
the Global Blood Transfusion Devices Market stood at USD 2.59 billion in 2022
and is anticipated to grow with a CAGR of 6.21% in the forecast period,
2024-2028. The Blood Transfusion Devices Market is expected to experience
significant growth due to the high prevalence of blood-related illnesses and
the increasing incidence of chronic kidney ailments worldwide.
As advancements
in technology continue to emerge, the market is poised to benefit from these
developments, which are anticipated to have a positive impact on its growth
over the forecast period. This can be attributed to the implementation of
innovative devices and techniques that enhance the safety and efficiency of
blood transfusions, ultimately improving patient outcomes and driving market
expansion.
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"Global Blood Transfusion Devices Market”
The global blood
transfusion devices market is driven by an upsurge in the count of surgical
procedures being carried out across the globe. As advancements in technology
continue to unfold, the market is expected to experience positive growth during
the forecast period. Additionally, the rise in the number of blood-related
disorders further bolsters the demand for blood transfusion devices.
Several factors
contribute to the growth of the market, including the increasing number of
blood disorders, accidents, trauma cases, and surgical procedures. Notably,
cesarean section rates have been steadily rising, with the highest rates
expected in Eastern Asia, Latin America and the Caribbean, Western Asia,
Northern Africa, Southern Europe, and Australia and New Zealand. This upward
trend in surgical procedures is anticipated to drive the demand for blood
transfusion devices.
However, the
growing use of minimally invasive operations may minimize the requirement for
allogeneic transfer or blood conservation during these procedures, posing a
challenge to the adoption of blood transfusion devices. Nevertheless,
technological breakthroughs in healthcare have led to the development of
reliable and improved diagnostics, as well as advanced testing methodologies.
Key market participants are actively incorporating technological advancements
to enhance the performance of blood transfusion devices.
Moreover, the
growing demand for molecular-based disease screening and the launch of
sophisticated systems have the potential to propel the market forward. In
recent years, there has been a remarkable increase in the number of various
types of surgeries worldwide. Procedures such as C-sections, cardiovascular
surgeries, trauma cases, and accident injuries have significantly contributed
to the demand for blood transfusion devices.
Furthermore, the
growing occurrence of chronic blood-related diseases such as lymphoma and
leukemia presents significant opportunities in the blood transfusion devices
market. Additionally, the rising prevalence of kidney diseases is expected to
generate substantial sales opportunities in the coming years. With these
factors in play, the global blood transfusion devices market is poised for
continued growth and expansion.
The Global Blood
Transfusion Devices Market is segmented into product, blood component, end
user, regional distribution, and company.
Based on product,
the Apheresis Systems segment emerged as the dominant player in the Blood
Transfusion Devices market in 2022. This can be attributed to its extensive
application in the treatment of leukostasis, a condition characterized by an
elevated white blood cell count in leukemia patients. This innovative
technology allows for efficient removal of excess white blood cells, leading to
improved patient outcomes and enhanced quality of life.
Furthermore, the
apheresis system is also utilized in the management of severe rheumatoid
arthritis, aiming to mitigate the risk associated with antibody-mediated
rejection of organs. By selectively removing disease-causing antibodies, this
advanced system helps to alleviate symptoms and prevent further damage to
affected joints. The expected growth of the Apheresis Systems segment over the
forecast period is further fueled by its effectiveness in addressing a wide
range of conditions. These include Goodpasture syndrome, a rare autoimmune
disorder affecting the kidneys and lungs, systemic lupus, a chronic
inflammatory disease affecting multiple organs, dermatomycosis, a fungal
infection of the skin, and polymyositis, an inflammatory muscle disease. With
its versatility and proven efficacy, the apheresis system continues to
revolutionize the field of blood transfusion devices, offering new hope and
improved outcomes for patients worldwide.
Based on region,
North America segment is expected to grow during the forecast period. North
America is projected to hold a significant share in the market during the
forecasted period. Factors driving market growth in the region include an
increasing number of trauma cases and surgical procedures, technological
advancements, and the presence of key market players.
In May 2020, the
"The Fight Is In Us" campaign was launched to recruit COVID-19
survivors within two months of recovery for plasma donation at licensed blood
and plasma donor centers. The aim was to ensure that the donated plasma
contained a robust concentration of antibodies to have a positive effect on
other COVID-19 patients. This campaign had a positive impact on market growth
by increasing the number of apheresis procedures performed at centers and
hospitals through awareness creation. Additionally, in May 2020, the Department
of Defense in the United States initiated an effort to collect 8,000 donated
units of plasma from recovered COVID-19 patients to support the development of
an effective treatment against the disease. This effort led to the adoption of
plasmapheresis devices and disposables in the United States. According to the
Terry Fox Research Institute, it is estimated that 21,700 people in Canada were
diagnosed with blood cancers in 2019. Survival rates for these cancers vary
depending on the type of blood cancer. Blood cancers are the third leading
cause of cancer-related death in Canada, with approximately 7,500 deaths
annually.
The increasing
number of surgical procedures, such as hysterectomies, is expected to drive
market growth. According to the 2021 updates from the Centers for Disease and
Prevention (CDC), around 600,000 hysterectomies are performed annually in the
United States. Furthermore, the American College of Obstetricians and
Gynecologists (ACOG) reported in 2020 that about a third of all women will have
a hysterectomy by the age of 60. These statistics highlight the high demand for
blood transfusion devices. In May 2021, Cerus Corporation announced its
contract with Canadian Blood Services for the INTERCEPT Blood System for
Platelets. This system is used for the ex vivo treatment and storage of
platelet components, inactivating a broad range of pathogens and reducing the
risk of transfusion-transmitted infections (TTI). These factors are expected to
drive market growth over the forecast period.
Major companies operating in Global Blood Transfusion
Devices Market are:
- Immucor Inc.
- Becton Dickinson and Company
- B. Braun Melsungen AG
- Terumo Corporation
- Grifols SA
- Kaneka Corporation
- Fresenius Kabi AG
- Haemonetics Corporation
- Macopharma SA
- Ecomed Solutions, LLC
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“The Blood
Transfusion Devices Market is poised for substantial growth owing to the high
prevalence of blood-related illnesses, such as anemia and hemophilia, and the
increasing incidence of chronic kidney ailments worldwide. These conditions
necessitate the requirement for reliable and efficient blood transfusion
devices to ensure safe and effective treatment. Moreover, technological
advancements, including the development of automated blood collection and
processing systems, are expected to positively impact market growth in the
forecast period. These advancements not only enhance the efficiency and
accuracy of blood transfusion procedures but also minimize the risk of
transfusion-related complications. Consequently, healthcare providers and
patients can enjoy improved patient outcomes and reduced healthcare costs.,”
said Mr. Karan Chechi, Research Director with TechSci Research, a
research-based management consulting firm.
“Blood Transfusion Devices Market Segmented By Product
(Apheresis Systems, Infusion Devices, Blood Warmers, Venous Access Devices,
Filters, Others), By Blood Component (Whole Blood, Plasma, RBC, Others), By End
User (Hospital, Ambulatory Surgical Centers, Dialysis Centers, Blood Bank,
Other), By Region and Competition, Forecast
& Opportunities, 2018-2028F”, has evaluated
the future growth potential of Global Blood Transfusion Devices Market and
provides statistics & information on market size, structure and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision makers take sound investment decisions. Besides, the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in Global Blood Transfusion Devices Market.
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