Blood Transfusion Devices Market to Witness Significant CAGR During Forecast Period
Increasing blood disorder
cases and rising number of surgeries to drive global blood transfusion devices
market
According
to TechSci Research report, “Global Blood
Transfusion Devices Market By Product, By Type, By Application, By End
User, By Region, Competition, Forecast & Opportunities, 2025”, global
blood transfusion devices market is expected to witness significant growth during
the forecast period. Mounting number of trauma cases is one of the major factors accounting
for the growth of global blood transfusion devices market.
Moreover, the blood transfusion process finds wide application in the treatment
of numerous medical conditions predominantly blood cancer, which is expected to
bode well for the growth of global blood transfusion devices market through the
forecast period. In addition to this, increasing number of accidents is anticipated
to positively influence the growth of global blood transfusion devices market
in the years to come. Also, rise in the prevalence of chronic kidney disorders
is leading to increased demand for blood transfusion and blood products, which
in turn is making headway for the growth of global blood transfusion devices market.
Along with this, supportive government funding is positively contributing to
the market growth. Also, favorable medical reimbursement policies in developed
countries coupled with increasing per capita health care expenditure is anticipated
to increase the patient pool requiring treatment through blood transfusion, thereby
bolstering the market growth across the globe. Furthermore, rising technological
advancements in terms of apheresis systems, blood warmers, infusion pumps as
well as transfusion filters have facilitated the accessibility of safe and
highly purified blood to patients, which is expected to aid the market growth
in the years to come. However, there are certain factors that might act as
major impediments to the growth of global blood transfusion devices market during
the forecast period such as existence of stringent rules and regulations like
approvals needed for separation of blood components.
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Global
Blood transfusion devices market can be segmented based on product, type,
application, end user, company, and region. Considering the application, the
market is fragmented into blood disorders, autoimmune disorders, cancer, renal
disorders, surgical procedures, and others. Among these, the blood disorders application
segment dominated the global blood transfusion devices market in terms of
largest market share until 2019 and is further anticipated to maintain its
dominance during the forecast period as well. This is because of rising
population with blood related disorders requiring emergency blood transfusions.
Fresenius Kabi AG, Grifols, S.A., Tenko
International Group Corp, Terumo Corporation, Kawasumi Laboratories, Inc.,
Haemonetics Corporation, Bioelectronica MILANO, RAYS S.P.A., Macopharma SA, B.
Braun Melsungen AG, Baxter International Inc., Neomedic Limited, 3M Company,
Keewell Medical Technology Co. Ltd., are among others are the leading
players operating in global blood transfusion devices market. The players are
adopting several growth strategies to enhance the market scenario of blood transfusion
devices. Other competitive strategies include product launches; mergers &
acquisitions; agreements, partnerships, and collaborations; and expansions to
diverse their product portfolio in order to strengthen their market position.
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“Global blood transfusion devices market is expected to be dominated by
North America until 2025 on account of growing number of surgeries in the
region. Furthermore, well-established health care facilities are also
contributing to the growing trend. However, Asia-Pacific is forecast to
register highest CAGR over the years to come, which can be attributed to rise
in aging population in the region.”, said Mr. Karan Chechi, Research Director
with TechSci Research, a research based global management consulting firm.
“Global Blood Transfusion Devices Market By Product,
By Type, By Application, By End User, By Region, Competition, Forecast &
Opportunities, 2025” 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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