Blood processing devices and consumables are predominantly used to identify the presence of blood borne diseases or hematological disorders in the blood before transfusion. These devices are found in hospitals, blood banks, and large clinics. Blood processing is generally done to disperse or separate all the major components of blood including plasmas, RBCs, and platelets. Various components are used to prevent clotting in the stored blood while increasing its shelf life. Some of the commonly used devices and consumables in the field are blood warmers, blood bank freezers, refrigerators, and centrifuges, among others.
Global Blood Processing Devices and Consumables Market- Overview
The global blood processing devices and consumables market was worth USD 40,139.2 million in 2021 and is poised to amplify at a CAGR of 6.7% over 2022-2030, thereby amassing a valuation of USD 63,159.5 million by end of the assessment timeline.
Furthermore, surging R&D investments in the field, increasing awareness regarding blood donations, and rapidly improving healthcare infrastructure are creating lucrative opportunities for this marketplace to prosper.
Also, technological advancements in the field, favorable medical reimbursement policies, and growing focus of manufacturers to develop efficient devices in the field are adding momentum to the progression of this business sphere.
On the contrary, high costs pertaining to the devices is hindering the remuneration scope of this industry vertical.
Global Blood Processing Devices and Consumables Market- Key trends
Growing prevalence of blood transfused ailments to aid industry expansion
Global blood processing devices and consumables market is expected to grow during forecast period owing to blood screening tests required for blood transfused diseases, infectious disease, and sickle cell disease. Sickle cell disease is one of the genetically inherited disease, where red blood cells do not have enough capacity to carry oxygen throughout the body. Hence these patients need blood transfusion regularly, in specific intervals of time, which is expected to boost the global blood processing devices and consumables market. For instance, according to American National Red Cross, in the U.S. transfusion of 21 million blood components takes place every year. There are around 90,000 to 100,000 sickle cell disease affected patients in U.S. who require blood transfusion frequently. Thus owing to requirement of frequent blood transfusion in sickle cell disease patients, global blood processing devices and consumables market is expected to boom in the forecast period.
Rising R&D activities in the field to bolster market growth
Key developments and growing research in the field of life sciences to carry out the processing of blood efficiently and effectively, is expected to boost the global blood processing devices and consumables market. For instance, according to Kings College London, June 2021, neurodegenerative diseases such as down syndrome can be diagnosed by levels of protein present in blood called neurofilament light chain. Thus research and development in blood screening which requires blood processing is expected to drive the global blood processing devices and consumables market.
Global Blood Processing Devices and Consumables Market- Segmental assessment
By Product Type
• Devices
• Consumables
By End User
• Hospitals and Clinics
• Diagnostic Laboratories
• Other End Users
Global Blood Processing Devices and Consumables Market- Geographical landscape
The major regions constituting the geographical ambit of this marketplace are North America, Middle East & Africa, Europe, Asia Pacific, and Latin America. Among these North America is projected to capture a substantial revenue share over 2022-2030. This is attributable to the rising geriatric population base, increase in the number of blood banks, and growing R&D investments in the field.
Global Blood Processing Devices and Consumables Market- Competitive hierarchy
The prominent players characterizing the competitive terrain of this marketplace are Beckman Coulter, Inc., Thermogenesis Holdings, Inc., Maco Pharma International GmbH, Immucor, Inc., Becton, Dickinson and Company, Bio-Rad Laboratories, Inc., Grifols, S.A., Abbott Laboratories, Global Scientific Company, Sigma Laborzentrifugen GmbH, Terumo BCT, Inc., Poly Medicure Ltd, and Thermo Fisher Scientific, Inc.
Report scope
Market: Historical Years- 2018-2021
Market: Forecast Years- 2022-2030
Market 2021- USD 40,139.2 million
Market CAGR- 6.7%
Market 2030- USD 63,159.5 million
Key segments reported-
• By Product Type (Devices and Consumables)
• By End User (Hospitals and Clinics, Diagnostic Laboratories and Other End Users)
Major regions and countries covered-
• North America (U.S., Canada, and Mexico)
• South America (Brazil, Argentina, and Colombia)
• Europe (Germany, U.K., France, Italy, Spain, and Russia)
• Middle East & Africa (UAE, Saudi Arabia, Egypt, and South Africa)
• Asia Pacific (China, Japan, India, Australia, South Korea, and ASEAN)
Top players profiled- Beckman Coulter, Inc., Thermogenesis Holdings, Inc., Maco Pharma International GmbH, Immucor, Inc., Becton, Dickinson and Company, Bio-Rad Laboratories, Inc., Grifols, S.A., Abbott Laboratories, Global Scientific Company, Sigma Laborzentrifugen GmbH, Terumo BCT, Inc., Poly Medicure Ltd, and Thermo Fisher Scientific, Inc.
The main goals of report are:
- To examine and assignment the extent of the international market for the market sector.
- To Researching the important gamers globally, their SWOT analysis, market value, and market share.
- To identify, describe, and mission market based totally on type, quit use, and geography.
- To take a look at the market advantages, challenges, dangers, and constraints in the world’s principal regions.
- To pick out key traits and variables that are advertising or inhibiting market growth.
- To decide the excessive increase segments in order to have a look at the market potentialities for stakeholders.
- To consider every submarket fastidiously in phrases of its very own boom sample and market contribution.
- To know market possessions, agreements, growth, and the introduction of new merchandise as aggressive advances.
- To strategically discover the essential gamers and completely take a look at their enlargement plans.
