Blood Bags Market to Register 10% Growth until 2025
Increasing cases of road
accidents and rising number of blood banks to drive global blood bags market
According
to TechSci Research report, “Global Blood Bags Market By Product, By Type, By
Volume, By Material, By End-User, By Region, Competition, Forecast &
Opportunities, 2025”, the global blood bags market
is forecast to grow at a CAGR of around 10% until 2025 on account of rising demand
for blood components and blood sterilization. The world is witnessing rise in trauma
and accident cases where victims require immediate blood transfusion. Additionally,
increasing prevalence of chronic infections such as AIDS, cancer and other
viral infections is increasing demand for blood donation. Hence, there is a
surging demand for blood bags, which are used for the storage, collection,
transfusion and transportation of blood along with the blood components such as
RBC, WBC, and blood platelets. With the increasing number of hospitals, blood
banks and other health centers, the demand for blood bags is also increasing
across the globe. Moreover, blood bag manufacturers are also witnessing demand
for sterilization of blood and its components. Apart from this, the presence of
standard healthcare organizations, government initiatives in assisting the use
of blood bags, and continuously improving sterility features is anticipated to
make blood bags business a lucrative market during the forecast years. However,
the global blood bags market also faces certain challenges. The hazardous waste
created by the excessive usage of blood bags and regulations set on reducing
the biohazardous waste might hamper the growth of the market in the coming
years.
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The global blood bags market is segmented based on product, type,
volume, material, end-user and region. Based on product, the market is
segmented into single blood bag, double blood bag, triple blood bag, quadruple
blood bag and penta blood bag. The triple blood bag segment accounted for
largest market share and the trend is likely to continue during the forecast
period as it finds extensive use in blood transfusion owning to their higher
use in plasma collection. Based on end-user, the global blood bags market is
segmented into hospitals, clinics, ambulatory surgical center, blood banks and others.
Among them, the hospitals segment is anticipated to witness high growth through
2025 owing to increasing number of surgical procedures that require blood
supply in large amounts.
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Terumo Corporation, Maco Pharma
International GmbH, Fresenius SE & Co KGaA, Grifols S.A., Neomedic Limited,
Teleflex Incorporated, Qingdao Sinoland International Trade Co., Ltd, HLL
Lifecare Limited, JMS Co.Ltd., Demophorius Healthcare Ltd, Kawasumi
Laboratories, Inc., Poly Medicure Ltd., Shanghai Transfusion Technology
Co., Ltd., AdvaCare Pharma and Troge Medical GmbH are some of the leading
players operating in the global blood bags market.
The
COVID-19 outbreak is adversely impacting the blood bag market as a rising
number of potential donor are becoming concerned about donating blood due to
transmission of the COVID-19 virus. “Scientific enhancements and increase in the requirement for blood
transfusion, storage and transportation is driving the blood bags market across
the globe. However, the manufacturers need to continuously look for more
innovative and environment friendly products to overcome the growth barriers.
Almost all the nations on the planet are focusing on strengthening their
healthcare sectors and hence, the coming years are going to provide huge growth
opportunities for blood bags manufacturing companies, worldwide.”, said Mr.
Karan Chechi, Research Director with TechSci Research, a research based global management
consulting firm.
“Global Blood Bags Market By Product, By Type, By Volume,
By Material, By End-User, By Region, Competition, Forecast & Opportunities,
2025” has evaluated
the future growth potential of global 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 global blood bags market.
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