According to a new market report published by Transparency Market Research " Blood Processing Devices and Consumables Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2013 - 2019", the market was valued at USD 11.16 billion in 2012, and is expected to reach USD 15.90 billion by 2019, growing at a CAGR of 5.2% from 2013 to 2019. Lack of adequate power infrastructure and increasing demand for reliable electricity delivery are the major driving forces of this market.
Browse the full Blood Processing Devices and Consumables Market Report:
The growth of the blood processing devices and consumables market is driven by factors such as increase in aging population, increasing cancer therapies, emergence of infectious diseases (HIV and Hepatitis) and significant rise in surgical procedures. In addition, strict government regulations across the world are also positively impacting market growth. Moreover, manufacturers are developing improved and automated products for collection, processing and storage of blood and blood components. According to WHO, it is estimated that global population over age 60 years would double from 11% (2000) to 22% (2050). People aged 60 and above are more prone to cancer risk and other surgical procedures. Hence, graying population and increasing demand of cell therapy will act as driving factors for the growth of this market.
Blood processing devices and consumables market is a rapidly developing field, and have been witnessing numerous technological advancements Growth of the market is influenced under the rising demand for pathogen-free blood. Blood being a vital component of the body, is routinely used in wide range of hospital procedures for transplantations, cancer therapies and other forms of surgeries. Therefore, safe blood supply is integral in surgical and other blood transfusion procedures. Manufacturers are developing automated products to reduce blood associated risks. Automaton of devices reduces human intervention, requires less number of professionals and also reduces the risk of pathogen development. Therefore, automated devices and consumables have been gaining lot of popularity in recent times. Automated cell processors and automated blood collection devices have become one of the standard procedures for blood procurement, thereby further giving a boost to this market. Other major technological advancements include blood bags with in-built filters, blood collection monitors, and tube sealers which are further supplementing the market growth.
Blood bags used in each step of blood collection, processing, storage and delivery account for the largest share in blood processing consumables segment. Coagulation reagents, which are used for detecting bleeding disorders and coagulation rate is the fastest growing segment of blood processing consumables market and is poised to grow at a CAGR of 13.3%.
North America accounts for the largest share of the blood processing devices and consumables market owing to the developed economies in this region. In North America, more than 27 million units of blood and blood components are transfused each year. Therefore, to meet this huge blood requirement, the market is characterized by government support, increased public awareness and presence of technologically advanced equipments. Despite the developed countries holding a major share, Asia-Pacific region is poised to show a significant growth in the coming years. Expanding population bases in countries such as India and China, coupled with increasing epidemic of diseases such as dengue and chikunguniya will boost the market demand and successive growth. Additionally, the government in these nations is focused towards improving healthcare infrastructure, thus, in turn, further propelling the growth of this market.
Blood processing devices and consumable market is witnessing intense competition among the players which are willing to offer complete reliable and cost-effective products. Some of the significant key players in this market include Terumo BCT, Fresenius Kabi, Haemonetics Corporation, Immucor, Inc., Abbott Diagnostics and others. Manufacturers are entering into strategic alliances with other players for the development and commercialization of new and innovative products, for maintaining the competitive edge.
Blood Processing Devices and Consumables Market, by Product Type
Blood Processing Devices
Blood Processing Devices and Consumables Market, by Geography
Transparency Market Research is a market intelligence company providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers.
We are privileged with highly experienced team of Analysts, Researchers and Consultants, who use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.
Transparency Market Research
90 State Street,
NY - 12207
USA - Canada Toll Free 866-552-3453