North America Blood Bags Market to Grow with a CAGR of 9.85% through 2028
Increase in the
incidence of chronic diseases such as cancer and blood disorder and increase in
the aging population is expected to drive the North America Blood Bags Market
growth in the forecast period, 2024-2028.
According to
TechSci Research report, “North America Blood Bags Market – Industry Size,
Share, Trends, Competition Forecast & Opportunities, 2028”, the
North America Blood Bags Market stood at USD 93.94 million in 2022 and is
anticipated to grow with a CAGR of 6.63% in the forecast period, 2024-2028. The
awareness among individuals regarding Blood Bags has led to favorable market
conditions for the North America Blood Bags market. Several factors contribute
to the growth of various Blood Bags products.
The relentless
progression of technology has impacted every industry, and the blood market is
no different. Innovations in blood testing, storage, and transfusion have been
instrumental in guaranteeing the safety and effectiveness of blood products.
Automation has transformed the processes of blood collection and handling.
Cutting-edge machines can now accurately collect, separate, and store blood
components, significantly minimizing the potential for mistakes while enhancing
the productivity of blood banks and donation centers.
Regulatory
authorities have put in place stringent screening procedures for blood donors,
encompassing comprehensive health evaluations, lifestyle inquiries, and
extensive infectious disease testing. These measures are in place to guarantee
the safety of donated blood for recipients. Blood banks and healthcare
establishments are obligated to strictly follow these regulatory directives to
uphold the industry's utmost standards of quality and safety. Adherence to
these regulations has become of utmost importance in the sector, which will
further fuel market growth.
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"North America Blood Bags Market.”
In April 2020,
The American Oncology Institute, a part of Babina Specialty Hospital in
Khabeisoi, celebrated the inauguration of its blood bank. Dr. Thangjam Dhabali,
Managing Director of Babina Groups of Companies, officially launched the blood
bank, named the "Blood Centre." During his conversation with the
media, Dhabali highlighted that this Blood Centre is the fourth of its kind in
the state, alongside RIMS, JNIMS, and Shija Hospital. He further emphasized
that the Blood Centre has been established to address the critical need for
blood in the treatment of cancer patients at the American Oncology Institute.
Traditional
reusable blood bags are gradually being replaced by single-use, disposable
blood bags. These bags reduce the risk of contamination and infection
transmission, contributing to improved patient safety. Modern blood bags are
equipped with integrated safety features, such as needleless ports and
tamper-evident closures. These features minimize the risk of accidental
needlestick injuries and ensure the integrity of the blood product.
In today's
fast-paced world, emergencies such as accidents, natural disasters, or trauma
cases, rapid access to blood can be a matter of life and death. Blood bags
enable quick transfusions, helping stabilize patients and increasing their
chances of survival in high-pressure situations. Blood bags are indispensable
in modern surgical procedures, where timely access to blood and blood
components is essential. They provide the necessary resources for surgeries,
reducing operation times and allowing surgeons to focus on the procedure
itself. In our fast-paced world, the prevalence of chronic diseases like cancer
and blood disorders is rising. Patients with these conditions often require
regular blood transfusions as part of their treatment. Blood bags ensure a
steady supply of blood components for these ongoing medical interventions. Our
interconnected world means that individuals may require medical treatment while
traveling or living in different regions. Blood bags enable the consistent
availability of safe and compatible blood for patients, regardless of their
location. During health crises like pandemics or disease outbreaks, the demand
for blood and blood products can surge unpredictably. Blood banks, equipped
with blood bags, play a vital role in addressing these crises by ensuring a
stable supply of blood for patients in need.
Cancer patients
frequently undergo treatments like chemotherapy, radiation therapy, and bone
marrow transplants. These therapies can suppress the production of blood cells,
making transfusions of red blood cells and platelets essential. Blood bags
ensure that cancer patients receive the support they need during their
treatment journey.
In recent times,
Blood bags are primarily designed for blood transfusions, which remain a
fundamental medical intervention. They are used to deliver whole blood or
specific blood components, such as red blood cells, plasma, and platelets, to
patients in need. These transfusions are essential for various medical
conditions, including anemia, surgery, trauma, cancer treatment, and blood
disorders. In emergencies such as accidents, natural disasters, or critical
injuries, rapid access to blood is vital. Blood bags are readily available in
emergency rooms and trauma centers to provide immediate support to patients who
have lost blood, ensuring they receive the necessary volume to stabilize their
condition. Modern surgical procedures often require blood transfusions to
replace blood loss during surgery. Blood bags facilitate these transfusions,
enabling surgeons to perform complex surgeries with confidence, knowing that a
steady supply of blood components is available. However, the Regulatory
Compliance and Safety Standards may hinder market growth. Moreover, challenges
related to Inventory Management and Transportation and Distribution may pose
obstacles to the Blood Bags market in the near future.
The North
America Blood Bags Market is segmented into type, product, application,
material, end-user, country distribution, and company.
Based on its
formulation, Single blood bags are designed for one-time use, which
significantly reduces the risk of contamination and infection transmission.
This is of paramount importance in blood transfusion, where patient safety is a
top priority. The single-use nature of these bags minimizes the chances of
cross-contamination, needlestick injuries, and the spread of infectious
diseases. Healthcare regulatory authorities in North America, such as the Food
and Drug Administration (FDA) in the United States and Health Canada, have
stringent guidelines in place to ensure the safety and quality of blood
products. Single blood bags adhere more easily to these strict regulatory
standards as they are used only once, eliminating concerns related to
reusability, cleaning, and sterilization. The standardized nature of single
blood bags simplifies compliance with regulatory requirements, making them the
preferred choice for many healthcare institutions. Single blood bags are often
equipped with barcode labels or RFID tags, allowing for efficient tracking and
traceability throughout the blood supply chain. This technology ensures that
each blood bag can be monitored from collection to transfusion, reducing the
risk of errors, misplacements, or discrepancies. This level of traceability is
crucial for maintaining accountability and transparency in blood transfusion
processes.
Based on region,
United States segment is expected to grow during the forecast
period. United States has a significantly larger population compared
to other North American countries. This large population base translates into
higher healthcare demands, including the need for blood transfusions. The
country's extensive healthcare infrastructure, including numerous hospitals,
clinics, and specialized treatment centers, further contributes to its
dominance. The United States is known for its advanced medical practices and
innovative treatments. This includes a wide range of medical procedures and
therapies that often require blood transfusions. The demand for blood bags is
high to support these cutting-edge medical services. The United States has
well-established blood banking systems and regulatory frameworks that ensure
the safe collection, storage, and distribution of blood and blood components.
This reliability and safety contribute to a higher demand for blood bags. The
U.S. is a leader in healthcare research and development. This innovation often
leads to the development of new treatments and therapies that require blood
transfusions, further boosting the demand for blood bags. The United States
allocates substantial resources to its healthcare sector, including blood
transfusion services. This financial commitment supports the procurement of
blood bags and the maintenance of high-quality standards.
The Canada
market is poised to be the fastest-growing market, offering lucrative growth
opportunities for Blood Bags players during the forecast period. Factors such
as Canada's population is growing steadily, and with an aging demographic, the
demand for healthcare services, including blood transfusions, is increasing. Canadian
healthcare institutions are continually adopting advanced medical technologies
and treatments, leading to a rising demand for blood bags. Investments in
healthcare infrastructure and blood banking systems are enhancing the
efficiency and accessibility of blood transfusion services in Canada.
Major companies
operating in North America Blood Bags Market are:
- TERUMO CORPORATION
- Fresenius SE &
Co. KGaA
- Grifols SA
- Neomedic Limited
- Teleflex
Incorporated
- JMS Co. Ltd
- Kawasumi
Laboratories Inc.
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“The advancement
in healthcare and Rising Awareness Regarding Blood Donation are key drivers of
the Blood Bags market. In recent years, Health crises like pandemics highlight
the importance of having a robust blood supply. Blood bags become critical in
such situations to ensure an adequate blood inventory. Moreover, the growing
consumer emphasis on preventative healthcare products has enhanced production
and marketing efforts. To meet the demands of the market, manufacturers are
increasingly incorporating cutting-edge technologies with high production
efficiency. Rising consumer acceptance and continuous product innovation will
further ensure the growth of the Blood Bags and supplements market in the
coming years.,” said Mr. Karan Chechi, Research Director with TechSci Research,
a research-based management consulting firm.
“North America Blood Bags Market
Segmented By Product (Single Blood Bag, Double Blood Bag, Triple Blood Bag,
Quadruple Blood Bag, Penta Blood Bag), By Type (Collection Bag, Transfer Bag),
By Volume (100ml, 150ml, 250ml, 300ml, 350ml, 400ml, 450ml, 500ml), By Material
(PVC, PET, Others), By End-User (Hospitals, Clinics, Ambulatory Surgical
Center, blood banks, Others), By Country, Competition Forecast &
Opportunities, 2018-2028”, has evaluated the future growth potential of North
America Blood Bags 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 North America
Blood Bags Market.
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