Global Blood Transfusion Devices Market, by Product Type (Apheresis Systems, Infusion Devices, Blood Warmers, Venous Access Devices, Filters, and Others), by End User (Hospital, Ambulatory Surgical Centers, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa), is estimated to be valued at US$ 4,189.6 million in 2020 and is expected to exhibit a CAGR of 5.7% during the forecast period (2020-2027), as highlighted in a new report published by Coherent Market Insights.
The global blood transfusion devices market is expected to witness significant growth during the forecast period, owing to increasing launches of blood transfusion devices. For instance, in 2019, Ecomed Solutions launched HEMAsavR device for blood capture and transfer to help medical professionals reduce the costliness of allogenic blood transfusions.
Rising cases of road accidents, trauma, and surgeries have also led to significant demand for blood transfusion devices, which is expected to driving the market growth. According to the Centers for Disease Control and Prevention (CDC), every year, an average of around 6 million car accident cases occur in the U.S. Globally, around 50 million road traffic injuries occur each year, according to the WHO 2018 report. Moreover, surgeries such as post-cardiopulmonary bypass, neurosurgery, and posterior eye surgery also require platelet transfusions.
Blood Transfusion Devices Market - Impact of Coronavirus (Covid-19) Pandemic
Since the COVID-19 virus outbreak in December 2019, the disease has spread to more 100 countries across the globe and the World Health Organization declared it a public health emergency. According to the World Health Organization’s report, the manifestation of coronavirus disease (COVID-19) has resulted in more than 26.1 million infected individuals worldwide as of August 2020.
COVID-19 can affect the global economy in three main ways; by directly affecting production and demand, by creating supply chain and market disruption, and by its financial impact on firms and financial markets. Due to the lockdown, many countries such as Italy, Spain, U.K., the U.S., Australia, India, and others are facing problems with regards to the transportation of blood transfusion devices from one place to another.
The COVID-19 virus outbreak is primarily transmitted by the respiratory route and theoretically by transfusions. The epidemic has the potential to reduce the supply of blood and blood components and adversely affect blood system activities. The risk of transmission of COVID-19 through transfusion of blood and components is only theoretical and likely minimal risk.
Browse 26 Market Data Tables and 27 Figures spread through 157 Pages and in-depth TOC on Blood Transfusion Devices Market, by Product Type (Apheresis Systems, Infusion Devices, Blood Warmers, Venous Access Devices, Filters, and Others), by End User (Hospital, Ambulatory Surgical Centers, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)- Forecast to 2027"
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