The global disposable blood transfusion set market size was valued at USD 150 billion in 2021 and is projected to reach around USD 250 billion in 2030 exhibiting a CAGR of 4.6% in the forecasted period. The increasing burden of fatal accidents and the higher number of trauma and serious injuries are driving the disposable blood transfusion set are expected to increase the market growth. On the other hand, high risk related to the blood donation and transfusion is one of the confining factors limiting the growth.
The global disposable blood transfusion set market is majorly driven by the mounting burden of lethal accidents and the wide presence of trauma and serious injuries. As per the World Health Organization, in April 2021, above 1.3 million people die per year due to road traffic crashes and accidents. Road traffic injuries are the important reason of death amongst people aged between 15 and 29 years. Furthermore, between 20 and 50 million people undergo non-fatal injuries, with many suffering a disability due to the injury. These serious damages are often accompanied by blood collection and transfusion during surgeries to treat fatal injuries. Therefore, the rising burden of surgical processes may grow the attaining rate of disposable blood transfusion set, propelling the market growth.
The growing prevalence of blood-related and other chronic ailments, together with the number of government initiatives to endorse blood collection, blood donation, and storage, are anticipated to drive the industry during the forecasted period. For instance, as per the World Federation Hemophilia, 2019 report, above 20,000 people with hemophilia are born every year with hemophilia, globally, of which about 7,000 are serious.
Moreover, according to the Government of Canada Statistics, as of July 2020, the Canadian geriatric population was 6,835,866, which accounted for 17.5% of the Canadian population. The ratio of seniors in Canada has been growing over time who are more prone to cardiac diseases. Thus, this is anticipated to rise the number of surgical procedures, which is expected to rise the demand for disposable blood transfusion sets.
In the present COVID-19 circumstances, passive immunotherapy using whole blood or plasma from healthier patients has become a probable therapeutic strategy for infections. The theory of transfusing neutralizing antibodies over convalescent blood is an easily accepted strategy among hospitals, globally. Thus, owing to the rapid implementation of passive immunotherapy using blood and plasma, the blood transfusion sets are increasingly being used in storing and transmitting blood during plasma therapy, boosting the market growth.
Product Insights
The intravenous needles segment is predicted to hold maximum share by 2021. An intravenous needle is a hollow needle generally used with a syringe to insert substances into the body or remove fluids from it. The availability of the intravenous needles makes it most commonly used in the disposable blood transfusion set market, thus boosting market growth.
End User Insights
The hospital segment was the major contributor in 2021 and is expected to maintain its lead during the forecasted period. The hospitals are dominating the market due to presence of hospitals in developed as well as developing nations with all the required facilities for the blood transfusion procedures.
Region Insights
North America is anticipated to be the leading markets in the disposable blood transfusion set market. Factors, such as the higher penetration of blood tests, coupled with a higher chronic diseases and blood-related ailments in the region, are offering positive growth to the market. Moreover, the presence of well-established and equipped health care infrastructure and risen blood donation activities, along with government initiatives in endorsing the use of disposable blood transfusion sets to prevent infections, are the reasons that may impact market growth certainly.
According to the statistics published by the American National Red Cross in 2018, above 36,000 units of red blood cells are required per day in the US, and nearly 7,000 units of platelets and 10,000 units of plasma are required on the daily basis in the US. A projected number of 6.8 million people contribute blood in the US.
Conversely, the burden of chronic diseases is constantly growing in this region. For instance, as per the International Agency for Research on Cancer Society, stated that in the United States amounted to 2.28 million cancers in 2020, and by 2040, the burden of cancer is projected to touch 3.12 million. Hence, owing to the presence of all the market boosting factors in the region, North America is expected to offer positive growth in the forthcoming period.
Key Companies Insights
To stay competitive in the total market, players are using new approaches such as new product development, mergers and acquisitions, joint ventures, and geographic expansions. Some of the key players working in the global disposable blood transfusion set market include:
- BD
- B. Braun
- TERUMO
- Smiths Medical
- Helm Medical
- Nipro
- TROGE
- WEGO
- Shandong Zibo Shanchuan Medical Instrument
- Jiangxi Sanxin Medtec
- Jiangxi Hongda Medical Equipment Group
- Shanghai Kindly Enterprise Development Group
- Tiankang Medical
- Perfect Medical Ind.Co., Ltd.
- Other players
Some of the Recent Developments:
- In April 2021, Grifols acquired the seven US plasma donation centers from Kedrion for US$ 55.2 million. The acquisition helps Grifols to gain immediate access to the plasma obtained in these centers that obtain nearly 240,000 liters every year.
- In January 2021, Haemonetics Corporation entered into an agreement to acquire Cardiva Medical Inc. The acquisition aims to aid Haemonetics expand and expand its hospital offerings in the large and rising interventional cardiology portfolio, including disposable blood bags.
Segments
By Product
- Intravenous Needle
- Blood Transfusion Bottle
- Transfusion Catheters
By End Users
- Hospital
- Blood Transfusion Center
- Research Institute
- Others
By Geography
- North America
o U.S.
o Canada
o Mexico
- Europe
o U.K.
o Germany
o France
o Italy
o Spain
o Russia
- Asia-Pacific
o Japan
o China
o India
o Australia
o South Korea
o ASEAN
- Latin America
o Brazil
o Argentina
o Colombia
- MEA
o South Africa
o Saudi Arabia
o UAE
o Egypt
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The analysis covers global market and its advancements across different industry verticals as well as regions. It targets estimating the current market size and growth potential of the global market across sections such as also application and representatives.
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