Blood Processing Devices and Consumables Market to Surpass US$ 61,134.0 Mn Threshold by 2027 - Coherent Market Insights

Published On : Aug 28, 2019

Global Blood Processing Devices and Consumables Market, by Product Type (Devices ( Plasma Freezers, Blood Bank Refrigerators, Lab Refrigerators, Lab freezers, Ultra-low Temperatures, Shock Freezers, Grouping Analyzers, Warmers, Hematocrit Centrifuges, and Cell Processors ), and Consumables (Blood Administration Sets, Blood Bags, Blood Collection Needles, Blood Collection Tubes, Blood Filters, Blood Lancets, Blood Grouping Reagents, Blood Coagulation Reagents, Hematology Reagents, Slides, Sedimentation Tubes, Slide Stainer, Test Tube Racks and Vials)), by End User (Hospitals & Clinics, Blood Banks Diagnostic Laboratories, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) was valued at US$ 33,213.9 Mn in 2018, and is projected to exhibit a CAGR of 7.1% during the forecast period (2020–2027), as highlighted in a new report published by Coherent Market Insights. Factors such as increasing geriatric population and rising emphasis of leading companies on long-term partnerships with end users is expected to boost demand for blood processing devices and consumables and drive the global blood processing devices and consumables market growth over the forecast period.

Global blood processing devices and consumables market size is expected to grow significantly over the forecast period. Much of its growth was attributed to government initiatives in setting up of blood screening center, especially in emerging economies. The trend is especially prevalent in China, India, and Russia, with significant increase in number of blood centers in these countries in the recent past. As a result of this, lucrative growth opportunities have emerged for market players to expand their business reach across emerging economies and enhance their market share over the forecast period.

Browse 25 Market Data Tables and 28 Figures spread through 150 Pages and in-depth TOC on Global Blood Processing Devices and Consumables Market by Product Type (Devices ( Plasma Freezers, Blood Bank Refrigerators, Lab Refrigerators, Lab freezers, Ultra-low Temperatures, Shock Freezers, Grouping Analyzers, Warmers, Hematocrit Centrifuges, and Cell Processors ), and Consumables (Blood Administration Sets, Blood Bags, Blood Collection Needles, Blood Collection Tubes, Blood Filters, Blood Lancets, Blood Grouping Reagents, Blood Coagulation Reagents, Hematology Reagents, Slides, Sedimentation Tubes, Slide Stainer, Test Tube Racks and Vials)), by End User (Hospitals & Clinics, Blood Banks Diagnostic Laboratories, and Others), and Region (North America, Latin America, Europe, Asia Pacific, the Middle East, and Africa) - Global Forecast to 2027

To know the latest trends and insights prevalent in the global blood processing devices and consumables market, click the link below:

https://www.coherentmarketinsights.com/market-insight/blood-processing-devices-and-consumables-market-83

There has been an increase in incidence rate of infectious diseases and chronic disorders such as cancer, especially among the geriatric population. According to the World Health Organization (WHO), in 2015, globally over 150 million people suffered from chronic hepatitis C virus, of which 700,000 die each year, owing to lack of suitable healthcare infrastructure and diagnosis centers. Technological advancements in the healthcare industry is expected to bridge the gap between patient’s expectation and healthcare delivery system. While the blood processing devices and consumables market is highly saturated in developed regions, emerging regions, especially Asia Pacific is largely untapped and offers lucrative growth opportunities for market players.

Key Takeaways of the Global Blood Processing Devices and Consumables Market:

  • The global blood processing devices and consumables market is expected to exhibit a CAGR of 1% during the forecast period (2020–2027), owing to frequent product launches and approvals, and robust pipeline of novel blood processing devices and consumables
  • Government has a critical role in creating national platforms for blood screening and blood bank centers. Increasing geriatric population along with rise in incidence rate of blood-related disorders is expected to drive the global blood processing devices and consumables market growth.
  • North America and Europe are highly matured blood processing devices and consumables market. Leading players such as Abbott Laboratories, Roche Holdings AG, and Terumo Corporation are emphasizing on establishing a direct distribution channel to retain their dominance in these regional markets. Setting up of cord blood bank center in these region is expected to create substantial market opportunity for industry players. Over 23 million blood components are transfused each year in North America.
  • There are over 13 thousand blood bank centers worldwide. The number is especially high in low to middle income countries, particularly India, Indonesia and Vietnam. Establishment of blood bank centers is expected to boost overall demand for blood bank refrigerators worldwide. The global blood bank market is highly consolidated, with leading players accounting for around 80% of the global market. New entrants are expected to provide bank refrigerators during the forecast period.
  • While the overall blood processing device segment is consolidated, it is highly fragmented in consumables segment with large presence of regional players, especially in China and India.
  • Major players operating in the global blood processing devices and consumables market include Abbott Laboratories, Becton, Dickinson and Company, Roche Holding AG, Bio-Rad Laboratories, Biomerieux SA, Immucor, Inc., Danaher Corporation, Terumo Corporation, Macopharma SA, Grifols International, Haemonetics Corporation, and Thermogenesis Corporation

About Coherent Market Insights:

Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.

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