BLOOD TRANSFUSION DEVICES MARKET ANALYSIS

Global blood transfusion devices market is estimated to be valued at US$ 4.86 Bn in 2023, and is expected to reach US$ 7.16 Bn by 2030, exhibiting a CAGR of 5.7% during the forecast period (2023-2030).

Analysts’ Views on the Global Blood Transfusion Devices Market-

Global blood transfusion devices market is driven by increasing launch of new products by key market players. For instance, in April 2021, EryPharm, a biotech startup, announced a major technological breakthrough in mass-producing cultured red blood cells to develop alternative blood transfusion sources. This medical product will improve the quality of life of multi-transfused patients suffering from inherited or acquired disorders of the red blood cells in particular, by supporting and complementing regular blood donation.

Figure 1. Global Blood Transfusion Devices Market Share (%), By Product Type, 2023

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Global Blood Transfusion Devices Market - Drivers

• Rising number of surgeries: Cardiovascular procedures, Cesarean section procedures, and trauma and accident injuries are the most common surgeries that require blood transfusion. According to report published by World Health Organization (WHO),  in 2021, worldwide cesarean section rates have increased from around 7% in 1990 to 21% in 2021, and are expected to continue increasing over the next decade. If current trends continue, Eastern Asia (63%), Latin America and the Caribbean (54%), Western Asia (50%), Northern Africa (48%) Southern Europe (47%), and Australia and New Zealand (45%) will have the highest rates by 2030. As a result, increasing number of surgical procedures is expected to drive  growth of the global blood transfusion devices market.
• Organic growth strategies such as product launch: Increasing number of organic growth strategies such as product launch by key market players is expected to drive the market growth over the forecast period. For instance, in May 2022, Vitestro, a medical robotics company, launched world's most advanced autonomous blood drawing device at the annual meeting of the Netherlands Society for Clinical Chemistry and Laboratory Medicine (NVKC) held in Rotterdam. Vitestro's device combines AI-based, ultrasound-guided 3D reconstruction with robotic needle insertion to ensure accurate and secure blood collection.

Figure 2. Global Blood Transfusion Devices Market Share (%), By Region, 2023

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Global Blood Transfusion Devices Market- Regional Analysis

Among region, North America is estimated to hold a dominant position in the global blood transfusion devices market over the forecast period. North America is estimated to hold 36.3% of the market share in 2023.  North American blood transfusion devices market is expected to witness significant growth in the near future, owing to initiatives by the government authorities in this region. For instance, in May 2020, the Defense Department of U.S. launched an initiative to collect 8,000 donated units of plasma from COVID-19 patients, in order to aid in the development of a successful treatment. This initiative has resulted in the widespread use of plasmapheresis equipment and disposables in the U.S.

Global Blood Transfusion Devices 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.
• In April 2021, according to the report published by National Center for Biotechnology Information (NCBI) , during the COVID-19 outbreak, blood donations dropped by 40% to 67%, especially in the countries where movement restrictions were in place. Potential blood donors had difficulty accessing donation centers and were concerned about catching the virus along the way. Furthermore, the majority of mobile blood drives were canceled, thereby hampering the development of the market. To conclude, the COVID-19 pandemic negatively affected the market development.

Global Blood Transfusion Devices Market- Segmentation

Global blood transfusion devices market is segmented based on product type, end user, and region.

• By product type, the market is segmented into pathogen reduction system, apheresis devices, blood component separator, blood bag & accessory, venous access devices, and others (filters, blood mixer, fridge & freezer). Out of which, the pathogen reduction system segment is expected to hold a dominant position in the global blood transfusion devices market over the forecast period, owing to launch of new products by the key market players.   
• By end user, the market is segmented into hospital, ambulatory surgical centers, blood bank, and others (research & academic institutes, ). Out of which, hospital segment is expected to dominate the market over the forecast period, owing to increase in number of hospital admissions for surgeries.  
• By region, the market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. Out of which, the North America region is anticipated to dominate the market growth over the forecast period, owing to organic growth strategies such as facility expansion, new product launch,and others. by the key market players.
• Among all the segments, the pathogen reduction system segment is expected to dominate the market over the forecast period, owing to increasing approvals for innovative solutions by regulatory authorities.  

Global Blood Transfusion Devices Market - Cross Sectional Analysis:

New product approvals by the regulatory authorities is anticipated to drive the pathogen reduction system segment growth in the North American region over the forecast period. For instance, in August 2021, in Canada, a system designed to add a layer of safety to the blood supply was approved by Health Canada to treat platelets in plasma. The Mirasol Pathogen Reduction Technology (PRT) System (developed by Terumo Blood and Cell Technologies, a Blood and Cell Technologies Company),  that employs riboflavin (vitamin B2) and ultraviolet radiation is intended to lower the pathogen load of various disease-causing agents such as viruses, parasites, and bacteria in blood products prior to transfusion to patients. Mirasol also inactivates the white blood cells, which helps to prevent certain transfusion reactions.

Global Blood Transfusion Devices Market: Key Developments

• On September 6, 2023, Vitestro, a medical robotics company, initiated A.D.O.P.T. Trial for its autonomous blood drawing device. This is the most significant study of autonomous blood collection, with a sample size of over 10,000 patients. Vitestro anticipates obtaining CE certification by the end of 2024. The Vitesro system combines AI-based, ultrasound-guided 3D reconstruction with robotic needle insertion to provide accurate and consistent venipuncture.
• In January 2020, Fresenius Kabi, a global health care company, announced US$ 31.6 Mn (EUR 30 million) expansion of its Dominican Republic transfusion and apheresis disposables plant. The company expanded to meet the increasing demand for these high-quality disposables. The new facility houses advanced manufacturing technology, plasma kit assembly lines, and sterilization units, and thus, effectively doubling the cleanroom and storage capacity. The site also includes a large warehouse.

Global Blood Transfusion Devices Market: Key Trends

• Blood collection initiatives by market players: Key market players along with the government authorities are organizing blood donation camps, and thereby, increasing demand of blood transfusion devices. For instance, in April 2022, Fresenius Kabi, a global health care company, and Blood Centers of America (BCA) and America's Blood Centers (ABC) announced a nationwide campaign in the U.S. to provided the needed blood-collection and transfusion supplies to those affected in Ukraine. BCA and ABC blood centers across the U.S. held blood drives and make financial contributions on behalf of the people who gave blood, platelets, or plasma.

Global Blood Transfusion Devices Market: Restraint

• Shortage of blood bags and other accessories required for blood collection: One of the key factor hindering the market growth is shortage of blood bags required for blood collection. For instance, in March 2022, America's Blood Centers (ABC) and Blood Centers of America, Inc. (BCA) publihsed a joint letter outlining the issues faced by the blood centers due to  shortage of Fresenius Kabi manufactured "BioFlex" blood bags. Members of the ABC and the BCA stated that 10-15% of all whole blood collections are impacted by this shortage. If this shortage continues, the blood transfusion devices market in the North America region will be heavily impacted.
• Counterbalance: To control  the shortage of blood bags, the key players should take proper preventive measures to control the shortage and discuss with the regulatory authorities to properly preserve the blood bags.

Global Blood Transfusion Devices Market - Key Players

The major players operating in the global blood transfusion devices market include Fresenius Kabi AG, Grifols, S.A., Tenko International Group Corp, Terumo Corporation, Kawasumi Laboratories, Inc., Ecomed Solutions, LLC., Kaneka Corporation, Immucor Inc., Haemonetics Corporation, Becton Dickinson and Company, RAYS S.P.A., Baxter, Macopharma SA, B. Braun Melsungen AG, Baxter International Inc., Neomedic Limited, Vitestro, and 3M Company.

Definition: A blood transfusion is a process that replenishes the body's blood supply. A healthcare professional will insert a needle or thin tube into a vein through a rubber tube for blood transfution procedure. Devices that are required for blood transfusion are called blood transfusion devices.