Global blood processing devices and consumables market is estimated to be valued at US$ 45.7 Bn in 2023, and is expected to exhibit a CAGR of 6.7% during the forecast period (2023-2030).
Analysts’ Views on Global Blood Processing Devices and Consumables Market:
Rising number of patients with blood transfusion diseases and COVID-19, among other diseases is expected to drive growth of the global blood processing devices and consumables market over the forecast period as blood processing devices & consumanles are used in the treatment of these diseases. Thus, this is expected to offer opportunity for various manufacturers to offer various blood processing devices & consumables.
Figure 1. Global Blood Processing Devices and Consumables Market Share (%), By Product Type, 2023
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Global Blood Processing Devices and Consumables Market– Drivers
Figure 2. Global Blood Processing Devices and Consumables Market Share(%), By Region, 2023
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Global Blood Processing Devices and Consumables Market- Regional Analysis
Among region, North America is estimated to hold a dominant position in the global blood processing devices and consumables market over the forecast period. North America is estimated to hold 40% of the market share in 2023. Increasing number of product launches in the North America region is expected to boost the market growth. For instance, in July 2022, Rhinostics, a U.S. based manufacturer of sample collection devices, launched VERIstic Collection Device that focuses on small volume blood collection. The VERIstic is a highly effective and it is high-throughput replacement for dried blood spot (DBS) cards, genetic testing, clinical trials, and other applications that is made possible by easy finger prick collection. It is ideal for use in at-home and clinician-assisted collection methods.
Global Blood Processing Devices and Consumables Market– Impact of Coronavirus (COVID-19) Pandemic
Since the COVID-19 virus outbreak in December 2019, the disease has spread to over 100 countries across the globe, and the World Health Organization (WHO) declared it a public health emergency on January 30, 2020.
COVID-19 affected the economy in three main ways: by directly affecting the production and demand of drugs, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to nationwide lockdowns, several countries such as China, India, Saudi Arabia, the U.A.E., Egypt, and others faced problems regarding transportation of things from one place to another.
Thus, the COVID-19 pandemic impacted positively on the global blood processing devices and consumables market due to increase in need and usage of blood processing devices and consumables such as blood collection tubes, and blood bags, among others for the collection and storage of the blood as well as plasma samples. Increase in cases of COVID-19 globally is expected to drive growth of global blood processing devices and consumables market. For instance, according to WHO, there were 771,151,224 confirmed cases of COVID-19 globally till October 04, 2023.
Blood Processing Devices and Consumables Market Report Coverage
Report Coverage | Details | ||
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Base Year: | 2022 | Market Size in 2023: | US$ 45.7 Bn |
Historical Data for: | 2018 to 2021 | Forecast Period: | 2023 to 2030 |
Forecast Period 2023 to 2030 CAGR: | 6.7% | 2030 Value Projection: | US$ 71.9 Bn |
Geographies covered: |
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Segments covered: |
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Companies covered: |
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. |
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Growth Drivers: |
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Restraints & Challenges: |
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Global Blood Processing Devices and Consumables Market Segmentation:
Global blood processing devices and consumables market is segmented by product type, end user, and region.
Among all the segmentation, the product type segment is expected to dominate the market over the forecast period due to increasing product offerings by the market players. For instance, in February 2022, Abacus dx, a Australia-based medical supply store, announced the addition of blood collection tube portfolio in its product offerings. The newly added blood collection tubes are manufactured by Streck, a company that engages in developing and manufacturing of products in hematology, and immunology among others.
Global Blood Processing Devices and Consumables Market- Cross Sectional Analysis
Among end user segment, hospitals and clinics segment is expected to hold a dominant position in in the North America region due to increasing prevalence of diseases such as COVID-19, asas pandemichighlighted the critical importance of efficient and reliable blood processing equipment and supplies in managing patients, conducting diagnostic tests, and supporting life saving treatments, creating a substantial demand for these products in hospitals and clinics. For instance, according to World Health Organization (WHO), there were 103,436,829 confirmed cases of COVID-19 in the U.S. till June 01, 2023.
Global Blood Processing Devices and Consumables Market: Key Developments
Global Blood Processing Devices and Consumables Market: Trends
Global Blood Processing Devices and Consumables Market: Restraint
Global Blood Processing Devices and Consumables Market - Key Players
Major players operating in the global blood processing devices and consumables market includes 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.
Definition: Blood processing devices and consumables are essential components of blood banks. Blood is processed at blood banks so that it can be kept for an extended period of time.
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About Author
Manisha Vibhute is a consultant with over 5 years of experience in market research and consulting. With a strong understanding of market dynamics, Manisha assists clients in developing effective market access strategies. She helps medical device companies navigate pricing, reimbursement, and regulatory pathways to ensure successful product launches.
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