Disposable Blood Bag Market Overview:
Global Disposable Blood Bag Market was valued at $279 million in 2016, and is estimated to reach at $580 million by 2023, registering a CAGR of 11% from 2017 to 2023. The volume of disposable blood bag market was 275 million units in 2016 and expected to reach by 556 million units by 2013, registering a CAGR of 10.5%. Disposable blood bag can be defined as a sterile, clear, plastic device employed for transfer, storage, collection, and transfusion of blood and its components. The disposable blood bag consists of multiple bag interconnected with the help of tubes, clamps, needles, and needle cover. The blood bag is manufactured from bio compatible PVC materials and additives to preserve blood and its components till transfusion or further use.
Rise in surgical procedures and surge in number of trauma and accidents around the globe drive the market. Moreover, surge in incidences of various diseases is expected to boost the market growth. However, risks related to blood transfusion and low number of blood donations in underdeveloped regions impedes the growth of the disposable blood bag market.
Global Disposable Blood Bag Market Segmentation
The disposable blood bag market is segmented based on product type, end user, and geography. Based on product type, it is bifurcated into collection bag and transfer bag. By end user, the market is categorized into hospital based and standalone. The collection bag accounts for the highest revenue in the study period due to high levels of blood donations around the globe.
Growth in awareness regarding blood donation among the locals boost the growth of blood donations in the developing and underdeveloped regions. Hospital-based blood donation sites account for the highest revenue during the analysis period owing to maximum number of blood donation in such facilities.
By geography, the global disposable blood bag market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific holds the largest market share of the market in 2016, followed by Europe. On the other hand, LAMEA is expected to be the fastest growing regional segment during the study period. The key factors that drive the growth of this market include government initiatives and increase in need of blood transfusion in the region. Moreover, prevalence of various diseases, surge in awareness among people, and blood donation campaigns carried out by private and government organizations is anticipated to fuel the demand for the disposable blood bag market.
Disposable Blood Bag Market, by Geography, 2016-2023 ($Million)
Growth in Number of Accidents and Road Traffic Injuries
Surge in number road traffic accidents is expected to increase the demand for blood and blood products during the analysis period. According to WHO, about 1.25 million people die each year in road traffic accidents. Road traffic injuries are leading cause of death amongst people aged between 15 and 29 years. Around 90% of the worlds mortalities occur in low and middle-income countries. Road traffic accidents are projected to become seventh leading cause of fatality in the world by year 2030, unless sustained regulation and guidelines are established.
Government Initiatives and Blood Donation Programs
Blood donation initiatives by governments and private organizations is expected to boost the demand for the disposable blood bag market. These days, unpaid donors volunteer to donate blood to support community. Donors can also visit hospitals, blood banks, or receivers to donate blood. According to Asian Journal of Transfusion, the number of voluntary blood donors increased from around 54% in 2006-2007 to 83% in 2011-2012. The number of units of blood also increased from 4.4 million units in 2006-2007 to 9.3 million units in 2012-2013.
Increase in Number of Non-invasive Surgical Procedures
Surge in awareness in the global population regarding bloodborne diseases such as AIDS and hepatitis compel surgeons and doctors worldwide to switch to bloodless surgeries. Bloodless surgery refers to a surgical procedure performed without transfusion of allogenic blood. In addition, surgeons and healthcare providers seek alternative surgical options for patients due to surge in transfusion costs and high cost of blood per unit in some countries. Surge in amount of non-invasive surgical procedures obstructs the market growth during the analysis period.
- The study provides an in-depth analysis of the disposable blood bag market with current trends and future estimations to elucidate the imminent investment pockets
- The report provides a quantitative analysis from 2016 to 2023 to enable the stakeholders to capitalize on prevailing market opportunities
- Extensive analysis by technology and application helps understand various trends and prevailing opportunities in the respective market
- Comprehensive analysis of all geographical regions is provided, which determines the main opportunities in these geographies
- Key market players within the market are profiled in this report and their strategies are analyzed thoroughly, which predict the competitive outlook of the market
Disposable Blood Bag Market Key Segments:
By Product Type
- Collection Bag
- Transfer Bag
By End User
- North America
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Saudi Arabia
- South Africa
- Rest of LAMEA
The report provides extensive competitive analysis and profiles of key market players, such as Fresenius SE & Co. KGaA, Terumo Corporation, Grifols, S.A, MacoPharma, S.A, HLL Lifecare Limited, Poly Medicure Limited, INNVOL Medical India Limited, Span Healthcare Private Limited, Haemonetics Corporation, and Neomedic International. The other players in the value chain include SURU International, Halyard Health, Advacare Pharma, Velico Medical, Inc. and Megacare International Inc.