Albany, NY -- (SBWIRE) -- 09/24/2014 -- The global blood processing devices and consumables market is poised to witness a CAGR of 8.9% between 2013 and 2019. The market, which was valued at US$ 27.27 billion as of 2012, is projected to touch US$ 49.16 billion by the end of 2019. These are the key findings of a research report published by Transparency Market Research (TMR), a U.S.-based market intelligence firm.

The report states that the overall demand for blood as well as blood products will rise on account of mounting concerns about infectious diseases, such as AIDS and Hepatitis, which primarily spread through blood. The report, titled ‘Blood Processing Devices and Consumables Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 – 2019’, also reveals that North America is the most prevalent region for the blood processing devices and consumables market. There are several favorable factors at play in the American market for blood processing devices and consumables. The leading factors being: high income levels, a stable economy, government backing, and consumer awareness levels that are higher than other geographical regions for this market. Estimates show that in developed nations alone, over 70 million units of blood are used for transfusion.

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Though North America is presently the leading market for blood processing devices and consumables, TMR’s research analysts say it is Asia Pacific that will report tremendous growth over the forecast period. Here, the driving forces for the market include: high population, initiatives encouraging improvements in blood transfusion, and a rapidly growing demand for the safe collection and transfusion of blood.

The report also finds that manual blood processing devices are losing out to modern mechanized blood processing devices. The latter constitute a higher share of the blood processing devices and consumables market. Similarly, the use of glass bottles is now nearly out of date. Instead, the market has witnessed the advent and proliferation of multispecialty blood bags – a segment which will report a very high growth rate in the next few years.

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The TMR report discusses numerous core and peripheral subjects pertinent to the blood processing devices and consumables market. These discussions include: automation of blood-processing devices, the regulatory environment, government initiatives, favorable reimbursement policies, and a higher number of complex surgical procedures being carried out world.

According to TMR’s analysts, advances in cell therapy could provide a strong impetus to the blood processing devices and consumables market. A key restraint that the market will have to contend with is the increasing cost of blood handling equipment.

This report studies the global blood processing devices and consumables industry by value, for the following regions: Europe, North America, Asia Pacific, and Rest of the World.

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For a deeper study of blood processing devices and consumables, the market is segmented based on two broad product types:

Blood processing consumables:

- Blood collection vials,
- blood bags,
- blood administration sets,
- sedimentation tubes, needles,
- blood collection tubes,
- test tube racks,
- microscopic slides,
- coagulation reagents,
- hematology reagents,
- blood filters,
- blood lancets,
- blood grouping reagents,
- slide stainer.

Blood processing devices:

- Blood bank refrigerators
- Blood cell processors
- hematocrit centrifuges
- blood warmers
- blood bank freezers
- blood grouping analyzers.

TMR’s report also profiles leading participants in the blood processing devices and consumables market. A few companies mentioned in the report are: Terumo BCT, Fresenius Kabi AG, Immucor, Bio-Rad Laboratories, Haemonetics Corporation, and MacoPharma SA Abbott Laboratories.

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