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Press Release: Disposable Blood Bags Market to Surpass US$ 537.2 Million by 2027
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
Disposable Blood Bags Market – Insights
Disposable Blood Bags are designed for 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.
Statistics:
The global Disposable Blood Bags market is estimated to account for US$ 537.2 Mn in terms of value and 459,040 Thousand Units in terms of volume by the end of 2027.
Global Disposable Blood Bags Market: Drivers
Increasing prevalence of blood-related disorders is expected to propel growth of the global Disposable Blood Bags market over the forecast period. For instance, according to National Cancer Institute, the number of estimated new cases of leukemia in 2019 in the U.S. was 61,780.
Moreover, increasing number of trauma and accident cases is also expected to aid in growth of the market. For instance, according to the Ministry of Road Transport and Highways, Government of India, in 2018, the number of road accidents increased by 0.46% compared to 2017.
North America region held dominant position in the global Disposable Blood Bags market in 2019, accounting for 49.1% share in terms of value, followed by Asia Pacific.
Source: Coherent Market Insights Analysis (2020)
Global Disposable Blood Bags Market: Restraints
Lack of infrastructure facilities for blood collection and storage in emerging economies is expected to hinder 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, low number of voluntary blood donations is also expected to hinder growth of the market. For instance, as reported by Lagos State Blood Transfusion Service in February 2020, the percentage of voluntary blood donors is 10.
Global Disposable Blood Bags Market: Opportunities
Use of non-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 for 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 opportunity for players in the market.
Manufacturers can focus on developing bioplastics to reduce the amount of single-use plastic. Moreover, development of plug-and-play system that uses natural-product based components to develop polymers similar to plastics is also expected to aid in growth of the market.
Single Collection Bags segment in the global Disposable Blood Bags market was valued at US$ 112.9 Mn in 2019 and is expected to reach US$ 244.2 Mn by 2027 at a CAGR of 10.1% during the forecast period.
Market Trends/Key Takeaways
Introduction of new blood bags with RFID tracking solutions has increased efficiency, reduced errors, enhanced visibility, and facilitated enhanced security for blood bags during transit. Alien Technology, a UHF Gen-2 RFID solution provider, offers UHF RFID based-hemo-derivative blood bag tracking application, which is used to track the location of blood bags in real time.
Automated blood processing equipment offers safer and reliable blood separation in blood centers. Blood collection centers are using cell separators and other automated instruments to enhance donor safety and blood component quality. Currently, blood collection centers are more inclined towards automated portable systems for blood component separation.
Regulations
North America
Canada
Value Chain Analysis -
Segmentation
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.
Global Disposable Blood Bags Market: Key Developments
Major players in the market are focused on expanding their production capacity. For instance, in November 2019, Grifols announced the start of production at its new blood-collection systems plant in Campo Largo, Brazil with a capacity of more than 10 million blood collection bags annually.
Players in the market are also focused on adopting partnership strategies to expand their product portfolio. For instance, in January 2019, Macopharma partnered with South Texas Blood & Tissue Center and Calimex to implement a paperless process from electronic donor registration through blood donation.
Disposable Blood Bags are used for collection, storage, transportation, and transfusion of human blood and blood products. Disposable blood bags are classified as class II (performance standards) medical devices as an empty container for the collection and processing of blood and blood components. Increasing initiatives for blood donation are expected to propel growth of the global Disposable Blood Bags market over the forecast period. Furthermore, increasing demand for non-PVC materials in blood collection bags is also expected drive the growth of the market during the forecasted period.
Key features of the study:
Detailed Segmentation:
Table of Contents
*Browse 24 market data tables and 14 figures on “Disposable Blood Bags Market - Global forecast to 2027”.
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