Disposable Blood Bag Market Share, Trends and Forecast to 2023 | Allied Market Research

Posted March 27, 2019 by sandeeps88

Surge in incidence of accidents and number of surgical procedures carried out globally fuels the growth of disposable blood bag market.
Disposable blood bags are non-reusable medical bags designed for the collection, transfusion, and storage of blood and blood products. These consist of tubes, clamps, and needles, and are manufactured using bio-compatible PVC material to store the blood for extended time periods. A disposable blood bag is used in blood banks, hospitals, NGOs, and government programs for blood donation activities.

An upsurge in the incidence of accidents, trauma, and various blood-related diseases; increase in awareness regarding blood donation among people and increase in the number of blood transfusion surgeries worldwide are expected to drive the disposable blood bag market. However, risk factors associated with transfusion of blood in underdeveloped regions restrict this growth. Conversely, huge untapped market potential in emerging countries, such as China and India, is expected to provide lucrative opportunities to the market players.

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The collection bag segment is anticipated to continue to lead the market throughout the analysis period, owing to an increase in the number of blood donations. In addition, high demand for blood and blood products in the developing regions due to increased utilization of healthcare services boosts the market growth.

The hospital-based segment accounted for three-fourths revenue share in 2016. Furthermore, the stand-alone segment is anticipated to be the fastest growing end-user segment, in terms of value, from 2017 to 2023, owing to the privatization of healthcare services in the developing regions.

The global disposable blood bag market was valued at $279 million in 2016 and is projected to reach $580 million by 2023, growing at a CAGR of 11.0% from 2017 to 2023. The volume of the disposable blood bag market was 275 million units in 2016 and is expected to reach by 556 million units by 2023, registering a CAGR of 10.5%.

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Major Players:

•Terumo Corporation
•Grifols S.A
•MacoPharma S.A
•HLL Lifecare Limited
•Poly Medicure Limited
•INNVOL Medical India Limited
•Span Healthcare Private Limited
•Haemonetics Corporation
•Neomedic International.

Key Findings:
•Transfer bag is expected to grow at a high CAGR, in terms of value, owing to an increased number of blood transfusions around the world.
•In 2016, collection bag generated the highest revenue and accounted for more than two-thirds share of the global market.
•LAMEA is projected to be the fastest growing disposable blood bag market during the analysis period, in terms of value as well as volume, followed by Asia-Pacific.
•China and India are the major market shareholders in the Asia-Pacific Region.

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Tags disposable blood bag market
Last Updated March 27, 2019