Global Disposable Blood Bags Market is estimated to be valued at US$ 255.4 million in 2023 and is expected to exhibit a CAGR of 5.47% during the forecast period (2023-2030).
Analysts’ Views on Global Disposable Blood Bags Market :
Increasing road traffic-related crashes have created huge demands for the growth of the global disposable blood bags Market expansion. For instance, on June 20, 2022, according to the World Health Organization (WHO) every year the lives of approximately 1.3 million people are cut short as a result of a road traffic crash. Between 20 and 50 million people suffer non-fatal injuries, with many incurring a disability as a result of their injury.
Figure 1. Global Disposable Blood Bags Market Share (%), By Product Type 2023
Global Disposable Blood Bags Market - Driver
Increasing road traffic related crashes -
Increasing road traffic related crashes is expected to propel the growth of the global disposable blood bags market over the forecast period. Moreover, an increasing number of trauma and accident cases is also expected to aid in the growth of the market. For instance, in 2022, the data published by the National Crime Records Bureau (NCRB), the number of traffic accidents in India has increased from 36.9 thousand in 2020 to 42.3 thousand in 2021. Hence, this increasing number of cases of accidents resulted in severe injuries and surgical procedures requiring blood transfusions, thereby contributing to the increasing demand for blood.
Disposable Blood Bags Market Report Coverage
|Base Year:||2022||Market Size in 2023:||US$ 255.4 Mn|
|Historical Data for:||2017 to 2021||Forecast Period:||2023 to 2030|
|Forecast Period 2023 to 2030 CAGR:||5.47%||2030 Value Projection:||US$ 370.7 Mn|
Poly Medicure Limited, Grifols, S.A., Macopharma, Fresenius Kabi India Pvt. Ltd., Terumo Penpol Pvt. Limited, HLL Lifecare Limited, Span Healthcare Private Limited, and Innvol Medical India Limited
|Restraints & Challenges:||
Government initiatives for Global Disposable Blood Bags Market -
Increasing government initiatives and increasing the infrastructure of the health organization for spreading awareness about disposable blood bags.
It helps to increase the demand for the global disposable blood bags.This will help to expand the lucrative market during the forecast years. For instance, according to the article published in Open PR on October 19, 2022, the Indian government attempted to meet the WHO's objectives of voluntary blood donation and 100 percent self-sufficiency. But only approximately 11 million blood donations are received annually in India, compared to the 13.5 million needed for the nation's 1.35 billion inhabitants (1%), creating a shortfall of about 2 million.
Figure 2. Global Disposable Blood Bags Market , By Region, 2023
Global Disposable Blood Bags Market - Regional Analysis
North America region held a dominant position in the global disposable blood bags market in 2023 accounting for a 33.1% share in terms of value, followed by Asia Pacific due to the increasing road traffic-related crashes. For instance, in March 2022 according to Centers for Disease Control and Prevention (CDC) data, the number of emergency department visits was 130 million and the number of injury-related visits was 35 million in the U.S. in 2021.
Global Disposable Blood Bags Market - Impact of Coronavirus (COVID-19) Pandemic
The COVID-19 pandemic had a positive impact on the global disposable blood bags market because, at the time of COVID-19, the demand for blood bags tremendously increased. For instance, according to the article published on April 2021, Blood donations have decreased dramatically by 40% to 67% during this outbreak of COVID-19, particularly in countries where restriction of movement is enforced .
Global Disposable Blood Bags Market Segmentation:
The Global Disposable Blood Bags Market report is segmented into Product Type, End Users, Channel, and Region.
Based on Product Type, the market is segmented into collection bags and transfer bags. Under collection bags market is further segmented into single collection bags, double collection bags, triple collection bags and quadruple collection bags. Out of which collection bags is expected to hold a dominant position in the global disposable blood bags market during the forecast period. For instance, according to an article published in BioSpace on May 20, 2022, increasing growth in the Virology Specimen, collection market is mainly driven by the rising prevalence of viral diseases, the increasing prevalence of human papillomavirus (HPV), and cervical cancer. Viral Specimens plays a vital role in laboratory diagnosis. In the investigation of viral infections, reliable laboratory results can only be obtained if the specimens are collected, preserved, and transported correctly to the Virology laboratory. Proper sample collection leads to the proper diagnosis of disease The rising number of blood donations is among the factors boosting the growth of the market. Emerging economies such as India and Japan are providing lucrative opportunities for the players operating in the virology specimen collection market.
Based on End User, the market is segmented into blood banks, hospitals, and non-governmental organization (NGO). Out of which hospitals is expected to hold a dominant position in the global disposable blood bags market during the forecast period due to the increasing number of surgical procedures that require blood supply in large amounts. The rising blood disorders, growth of the healthcare sector, and the increasing construction of hospitals and health clinics are anticipated to positively impact the market. For instance, according to the American Hospital Association, data updated in February 2022, in the U.S. alone, 48 million surgeries were performed in hospitals, and most of them required an enormous amount of blood supply, which may augment the blood bag market's growth.
Based on Channel, the market is segmented into tender sales and private sales. Out of which tender sales are expected to hold a dominant position in the global disposable blood bags market during the forecast period due to the focus on growth strategies of blood bag manufacturers through the tender process owing to high-profit margins.
Based on Region, North America is expected to hold a dominant position in the global disposable blood bags market during the forecast period. For instance, in February 2021, according to the American National Red Cross estimates, approximately 36,000 units of red blood cells are needed every day, and nearly 21 million blood components are transfused each year in the U.S. Thus, the increasing demand for disposable blood bags is fueling market growth.
Global Disposable Blood Bags Market - Cross Sectional Analysis:
The largest share of the global disposable blood bags market is North America. This is because of the increasing road traffic-related crashes in the region. The U.S. represents the largest market for disposable plastic blood bags followed by Canada in North America region.
Whereas on the other hand, Asia-pacific is expected to grow at the highest growth rate in the forecast period. The factors responsible for this are, the large population in the region, due to the developing healthcare sector, increasing awareness among the people, and due to the increasing demand for blood transfusion.
Global Disposable Blood Bags Market : Key Developments
Major players in the market are focused on expanding their production capacity. For instance, In April 2021, Grifols acquired the seven US plasma donation centers from Kedrion for USD 55.2 million. From the acquisition, Grifols is expected to gain immediate access to the plasma obtained in these centers, which obtain approximately 240,000 liters per year.
Global Disposable Blood Bags Market : Restraint
Lack of infrastructure facilities
Lack of infrastructure facilities for blood collection and storage in emerging economies is expected to hinder the growth of the market. Blood collection centres in African countries such as Nigeria, Egypt, and Ethiopia are lagging in terms of blood processing infrastructure. Hence, demand for single blood bags over others in such countries is significantly high. Moreover, a low number of voluntary blood donations is also expected to hinder the growth of the market.
Global Disposable Blood Bags Market : Opportunities
Use of non- Polyvinyl chloride (PVC) materials in blood collection bags is expected to offer lucrative growth opportunities for players in the market. Non-PVC plastic blood bags, also known as PVC-free bags, have emerged as an alternative to PVC blood bags. Non-PVC bags are made from ethylene vinyl acetate (EVA) and multilayer polyethylene. The commercialization of non-PVC blood bags is expected to provide promising growth opportunities for players in the market. Manufacturers can focus on developing bioplastics to reduce the amount of single-use plastic. Moreover, the development of the plug-and-play system that uses natural-product-based components to develop polymers similar to plastics is also expected to aid in the growth of the market.
Global Disposable Blood Bags Market : Competitive Landscape
Major players operating in the global disposable blood bags market include Poly Medicure Limited, Grifols, S.A., Macopharma, Fresenius Kabi India Pvt. Ltd., Terumo Penpol Pvt. Limited, HLL Lifecare Limited, Span Healthcare Private Limited, and Innvol Medical India Limited.
Definition: Disposable Blood Bags are designed for the collection, storage, transportation, and transfusion of human blood and blood-derived products. Single, double, triple, and quadruple blood collection bags are some of the types of disposable blood bags. The volume of these bags ranges from 350 ml to 500 ml. Apart from blood, disposable blood bags are used to store or transfer blood components such as plasma, platelets, and leucocytes.
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