The global disposable blood bag market was valued at $221.1 million in 2020, and is expected to reach $357.2 million by 2030, registering a CAGR of 4.9%, from 2021 to 2030. A disposable blood bag can be defined as a sterile, clear plastic bag used for transfer, storage, collection, and transfusion of blood and its components. It consists of multiple bags interconnected by tubes, clamps, needles, and needle covers. These blood bags are manufactured from bio-compatible PVC materials and additives to preserve blood and its components until further use.
Increase in blood transfusion procedures and high incidence of accidents and trauma cases around the globe drive the market growth. Moreover, rise in prevalence of various blood-related diseases, such as sickle cell anemia, blood cancer, hemophilia, and others fuel the market growth.
According to World Health Organization, in April 2021, around 1.3 million people died every year because of road traffic crashes and accidents. Road traffic accidents are the leading cause of death among people aged between 15 and 29 years. In addition, according to Government of Canada Statistics report as of July 2020, the Canadian elderly population was 6,835,866. The older population is more prone to having cardiovascular diseases. This is increasing the number of surgical procedures which is anticipated to increase the demand for disposable bags. Furthermore, rise in prevalence of blood related disorders and other chronic diseases drive the growth of the disposable blood bag market.
According to the Center for Disease Control and Prevention, about 61,000 traumatic brain injury related deaths happened in the U.S. in 2019. Rise in prevalence of trauma cases is anticipated to drive the growth of disposable blood bags market. Moreover, as per American Red Cross, in the U.S. every two seconds someone needs blood. It is essential for surgeries, cancer treatment, and chronic illness. This increase in the use of blood bags drives the growth of the market.
In addition, increase in number of blood transfusion procedures, and rise in global prevalence of targeted diseases along with surge in geriatric population, are the factors anticipated to drive the growth of the disposable blood bags market.
On the contrary, risks related to blood transfusion and low number of blood donations in underdeveloped regions hinder the market growth.
On the other hand, rise in healthcare infrastructure and presence of lucrative opportunities in emerging countries are expected to provide numerous opportunities for market expansion during the forecast period.
The disposable blood bags market is segmented on the basis of product, end user, and region. On the basis of product, the market is categorized into collection bag and transfer bag. On the basis of end user, the market is fragmented into hospital based and stand-alone. Region wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, the UK, Italy, Spain, and rest of Europe), Asia-Pacific (Japan, China, Australia, India, South Korea, and, rest of Asia-Pacific) ,and LAMEA (Brazil, South Africa, Saudi Arabia, and rest of LAMEA).
Some of the major companies that operate in the global disposable blood bags market are Fresenius SE & Co. KGaA, Grifols, S.A, Haemonetics Corporation, HLL Lifecare Limited, INNVOL Medical India Limited, MacoPharma, S.A, Neomedic International, Poly Medicure Limited, Span Healthcare Private Limited, and Terumo Corporation.
Increase in blood transfusion procedures and high incidence of accidents and trauma cases around the globe drive the market growth. Moreover, rise in prevalence of various blood-related diseases, such as sickle cell anemia, blood cancer, hemophilia, and others fuel the market growth.
According to World Health Organization, in April 2021, around 1.3 million people died every year because of road traffic crashes and accidents. Road traffic accidents are the leading cause of death among people aged between 15 and 29 years. In addition, according to Government of Canada Statistics report as of July 2020, the Canadian elderly population was 6,835,866. The older population is more prone to having cardiovascular diseases. This is increasing the number of surgical procedures which is anticipated to increase the demand for disposable bags. Furthermore, rise in prevalence of blood related disorders and other chronic diseases drive the growth of the disposable blood bag market.
According to the Center for Disease Control and Prevention, about 61,000 traumatic brain injury related deaths happened in the U.S. in 2019. Rise in prevalence of trauma cases is anticipated to drive the growth of disposable blood bags market. Moreover, as per American Red Cross, in the U.S. every two seconds someone needs blood. It is essential for surgeries, cancer treatment, and chronic illness. This increase in the use of blood bags drives the growth of the market.
In addition, increase in number of blood transfusion procedures, and rise in global prevalence of targeted diseases along with surge in geriatric population, are the factors anticipated to drive the growth of the disposable blood bags market.
On the contrary, risks related to blood transfusion and low number of blood donations in underdeveloped regions hinder the market growth.
On the other hand, rise in healthcare infrastructure and presence of lucrative opportunities in emerging countries are expected to provide numerous opportunities for market expansion during the forecast period.
The disposable blood bags market is segmented on the basis of product, end user, and region. On the basis of product, the market is categorized into collection bag and transfer bag. On the basis of end user, the market is fragmented into hospital based and stand-alone. Region wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, the UK, Italy, Spain, and rest of Europe), Asia-Pacific (Japan, China, Australia, India, South Korea, and, rest of Asia-Pacific) ,and LAMEA (Brazil, South Africa, Saudi Arabia, and rest of LAMEA).
Some of the major companies that operate in the global disposable blood bags market are Fresenius SE & Co. KGaA, Grifols, S.A, Haemonetics Corporation, HLL Lifecare Limited, INNVOL Medical India Limited, MacoPharma, S.A, Neomedic International, Poly Medicure Limited, Span Healthcare Private Limited, and Terumo Corporation.
KEY BENEFITS FOR STAKEHOLDERS
- This report provides an extensive analysis of the current and emerging market trends and dynamics in the global disposable blood bag market to identify the prevailing opportunities
- This study presents the competitive landscape of the global market to predict the competitive environment across geographies
- Comprehensive analysis of factors that drive and restrict the market growth is provided
- Region- & country-wise analysis is provided to understand the market trends and dynamics
KEY MARKET SEGMENTS
By Product Type
- Collection Bag
- Transfer Bag
By End User
- Hospital Based
- Stand-alone
By Region
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- Japan
- China
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Saudi Arabia
- South Africa
- Rest of LAMEA
KEY MARKET PLAYERS
- Fresenius SE & Co KGaA
- Grifols, SA
- Haemonetics Corporation
- HLL Lifecare Limited
- INNVOL Medical India Limited
- MacoPharma, SA
- Neomedic International
- Poly Medicure Limited
- Span Healthcare Private Limited
- Terumo Corporation
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Table of Contents
Chapter 1 Introduction
Chapter 2 Executive Summary
Chapter 3 Market Overview
Chapter 4 Disposable Blood Bags Market, by Product Type
Chapter 5 Disposable Blood Bags Market, by End-user
Chapter 6 Disposable Blood Bags Market, by Region
Chapter 7 Company Profiles
List of Tables
List of Figures
Executive Summary
According to a new report titled, “Disposable Blood Bags Market by Type, and End User: Global Opportunity Analysis and Industry Forecast, 2021–2030,the disposable blood bags market was valued at $221.1 million in 2020, and is estimated to reach $357.2 million by 2030, growing at a CAGR of 4.9% from 2021 to 2030.Disposable blood bags are non-reusable medical bags designed for collection, transfusion, and storage of blood and blood products. These consist of tubes, clamps, and needles, and are manufactured using bio-compatible PVC material to store the blood for extended time periods. A disposable blood bag is used in blood banks, hospitals, NGOs, and government programs for blood donation activities.
Upsurge in incidence of accidents, trauma, and various blood related diseases; increase in awareness regarding blood donation among people; and increase in number of blood transfusion surgeries worldwide are expected to drive the growth of the disposable blood bags market. However, risk factors associated with transfusion of blood in underdeveloped regions restrict this growth. Conversely, huge untapped market potential in the emerging countries, such as China and India, is expected to provide lucrative opportunities to the market players.
Furthermore, according to World Health Organization, in 2021, 20 to 50 million people suffer from non-fatal injuries with incurring a disability. These serious injuries are often accompanied by blood collection and transfusion activities during surgical procedures for the treatment of fatal injuries. Hence, the growing burden of surgical procedures increase the use of disposable blood bags, enhancing the growth of the market. For instance, according to World Federation Hemophilia 2019, there were more than 20,000 people born with hemophilia worldwide. Moreover, rise in government initiatives to promote blood donation, blood collection, and storage are expected to drive the growth of the disposable blood bag market.
According to CSR Journal, The IRCS NHQ Blood Bank collects about 25,000 units of blood annually which amounts about 10% of the total blood collected in Delhi. The IRCS (NHQ) frequently holds blood donation camps. In the COVID-19 pandemic, IRCS started conducting blood donation camps in different areas of Delhi in April 2020. Surge in demand for blood donation camps propels the growth of the disposable blood bag market.
On the basis of product type, the collection bag segment is expected to register significant growth rate during the forecast period, owing to rise in blood collection and blood transfusion. Moreover, recent approvals granted by FDA boost the growth of disposable blood bags market.
On the basis of end users, the hospital based segment accounted for the largest share in the global disposable blood bags market, as it delivers well-organized, documented, retrieved, and logistical pathological procedures. However, stand-alone segment is anticipated to exhibit fastest market growth due to rise in number of chronic illness.
North America accounted for a majority of the global disposable blood bag market share in 2020, and is anticipated to remain dominant during the forecast period. This is attributed to rise in prevalence of chronic diseases, presence of key players, increase in healthcare expenditure, and rise in government initiatives in the region. However, Asia-Pacific is anticipated to witness notable growth, owing to rise in incidences of injuries, surge in demand for healthcare services from an aging population, and increase in investments in healthcare sector in the region.
Key Findings Of The Study
On the basis of type, the collection bag segment was the highest contributor to the disposable blood bags market in 2020
- On the basis of end user, the hospital based segment was the highest contributor to the disposable blood bag market in 2020
- On the basis of region, North America garnered the largest revenue share in 2020, whereas Asia-Pacific is anticipated to grow at the highest XX% CAGR during the forecast period
- North America dominated the disposable blood bag market share in 2020, and is anticipated to remain dominant during the forecast period. This is attributed to rise in prevalence of blood related diseases, presence of key players, development of the healthcare sector, and presence of various types of disposable blood bags Asia-Pacific is anticipated to witness lucrative growth, owing to increase in number of surgical procedures, and improvement in healthcare infrastructure
Companies Mentioned
- Fresenius SE & Co. KGaA
- Grifols, S.A
- Haemonetics Corporation
- HLL Lifecare Limited
- INNVOL Medical India Limited
- MacoPharma S.A
- Neomedic International
- Poly Medicure Limited
- Span Healthcare Private Limited
- Terumo Corporation.
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 192 |
| Published | February 2022 |
| Forecast Period | 2020 - 2030 |
| Estimated Market Value ( USD | $ 221.1 million |
| Forecasted Market Value ( USD | $ 357.2 million |
| Compound Annual Growth Rate | 4.9% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
