Blood processing devices and consumables are essential in the healthcare industry with new blood-related disorders and infections emerging day by day. Blood transfusion is a regular procedure in hospitals, which requires these products. Unsafe blood transfusion can lead to the spread of dangerous diseases. With the high prevalence of infectious diseases such as hepatitis and HIV, blood processing devices and consumables are in high demand.
According to a research report from Transparency Market Research, the global blood processing devices and consumables market is expected to be worth US$49.16 billion by 2019, growing at an incredible CAGR of 8.9% from 2013 to 2019. The market was valued at US$27.27 billion in 2012.
Other factors that contribute the growth of the market are:
- Increasing number of blood transfusions required in surgical procedures
- Escalating demand for blood components from the geriatric population
The June 2015 report from WHO estimates that around 108 million units of donated blood are collected globally every year, which highlights the importance of blood processing.
Blood processing devices and consumables are used for storing and managing donated blood in blood banks. While the blood processing devices include blood bank freezers and refrigerators, blood warmers, blood grouping analyzers, blood cell processors, and hematocrit centrifuges, consumables include blood administration sets, blood filters, lancets, vials, test tubes, coagulation and blood grouping reagents, microscopic slides and stainers, blood collection tubes and needles, blood bags, hematology reagents, and sedimentation tubes.
As per the report, automated devices such as automated cell processors and whole blood collection devices account for a larger market share over manually operated blood processing devices.
Some of the key players in the market are BD (Becton, Dickinson, and Company), Abbott Laboratories, Biomerieux SA, Roche Holdings AG, Macopahrma SA, and Bio-Rad Laboratories. Based on region, North America is the largest and most lucrative market.
Blood bags safeguard sterility and have replaced glass bottles for transfusion purposes. Owing to technological developments, innovative products, and increasing geriatric population, the global multi-specialty blood bags market is also expected to exhibit encouraging growth in the coming years.