India Blood Bags Market to reach USD 66.51 Million by 2028
The rise in number of road accidents and increased number of
blood transfusions in India is projected to drive the growth of India Blood
Bags Market.
According
to TechSci Research report, “India Blood
Bags Market – By Region, Forecast
& Opportunities, 2018-2028”,
the India Blood Bags Market
stood at USD 46.99 million in
2022 and is anticipated to reach USD 66.51 million by 2028. This can be
attributed to the increasing number of invasive surgeries
taking place in India and the growing acknowledgement of the utilization of
blood components.
A significant hike in road accidents across the
country is responsible for fueling the India Blood Bags Market. Road accidents
can result in severe blood loss causing hypovolemic shock, which requires blood
replenishment as soon as possible. Besides, there is a prevalence of
blood-related ailments like anemia, sickle-cell anemia, hemophilia, blood
cancers including leukemia, lymphoma, etc., in the country. Furthermore, the
utilization of blood components has risen the demand for double and triple
blood bags in the nation. Also, few initiatives taken by the Indian government like
the setting up of National Blood Transfusion Council and the launch of an
application named ‘eBloodServices’ to propagate awareness about blood donation
and blood availability is further expanding the India Blood Bags Market.
However, shortage of skilled personnel for collecting the blood as well as low
awareness about voluntary blood donation can hinder the market growth in the
near future. In addition, some strict regulations by the Indian government
regarding the consumption of plastics is further anticipated to curb the India
Blood Bags market.
Browse over 43 market data Figures spread through 70 Pages
and an in-depth TOC on "India Blood Bags Market"
The India Blood Bags Market is segmented into product,
type, volume, material, end-user, region, and company. Based
on product, the market can be segmented into Single Blood Bag, Triple Blood
Bag, Double Blood Bag, Quadruple Blood Bag and Penta Blood Bag. The Single Blood Bag held the largest market share
of around 34.62% in 2022. The possible reason of this could be an increase in
the road accidents in India. This is so because of growing carelessness amongst
people, especially the youth of the country. Moreover, the number of surgeries
due to blood-related ailments like cancers have also risen at a handsome pace
allowing more whole blood transfusions. The triple blood bags usually see a
hike in the market during the season of dengue and malaria in India, when platelets
are to be transfused in severely affected patients.
Based on the type, the
market is split into Collection Bag and Transfer Bag. The Collection Bag dominated
the market in 2022 and is anticipated to maintain its dominance during the
forecast period. This is so because collection bags are used for storing the
blood. This is the most useful type of bag when there is a need to stock blood,
especially in North-East, emergency wards and other remote as well as tribal
areas of India. Transfer bags are basically satellite bags or additional bags
used when there is a need of transfusing just a component of blood and not the
entire blood.
Based on end-user, the market
is categorized into Hospitals and Clinics, Blood Banks, Ambulatory Surgical
Centers and Others. Out of these, Hospitals and Clinics leads the market with the
highest share of 38.10% in 2022. Growing investments in construction of
healthcare centers is propagating the market. Also, a boost in blood donations
across the country is further propelling the segment. Another factor
responsible for the growth of Hospitals and Clinics in the forecast period is
the road accidents that take place every day, prevalence of trauma cases and a
shoot up in the diagnosis of blood-related illnesses.
The leading companies
operating in the India Blood Bags Market are:
- Terumo Penpol Pvt Ltd.
- Mitra Industries Pvt. Ltd.
- Poly Medicure Ltd.
- HLL Lifecare Ltd.
- BL Lifesciences Pvt Ltd.
- Innvol Medical India Limited
- Imperial Biotech Private Limited
- Fresenius Kabi India Private Limited
- Advin Health Care
- Sai Kripa Enterprises
India Blood Bags Market is a highly
fragmented one with a lot of blood bags being imported from various countries
such as China, Singapore, United States, among others. However, the market
fragmentation will further increase in the coming years as a lot of players are
expected to emerge in the market in light of the Aatmanirbhar Bharat scheme
implemented by the government of India.
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“A surge in road accidents and traumatic
cases across the country is anticipated to propel the market of India Blood
Bags. Deaths due to severe blood loss or hemorrhage due to traffic injuries
have risen noticeably in the past few years. Additionally, cancer cases and
blood-related illnesses are also experiencing a rise in India which is further
enhancing the number of oncological and hematological surgeries taking place in
hospitals, thus fueling the India Blood Bags market. However, the growing
cognizance among people regarding blood donation and the use of blood
components is further estimated to catalyze the market at a handsome CAGR.”, said
Mr. Karan Chechi, Research Director with TechSci Research, a research based global
management consulting firm.
“India Blood Bags Market By
Product (Single Blood Bag, Triple Blood Bag, Double Blood Bag, Quadruple Blood
Bag, Penta Blood Bag), By Type (Collection Bag v/s Transfer Bag), By Volume (450ml,
350ml, 150ml, 100ml, 250ml, Others), By Material (PVC, PET, Others), By End-User
(Hospitals and Clinics, Blood Banks, Ambulatory Surgical Centers, Others), By
Region, Competition, Forecast & Opportunities, 2018-2028F”, has evaluated the future
growth potential of India 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 India Blood Bags Market.
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