The industry for blood processing devices and consumables is largely driven by the increase in aging population as well as medical advancement that has led to more complex surgical procedures such as orthopedic and open heart surgeries.
Albany, NY -- (SBWIRE) -- 09/03/2014 -- Transparency Market Research in its latest report has stated that the global blood processing devices and consumables market was worth USD 27.27 billion in 2012 and will reach USD 49.16 billion by 2019, at an estimated CAGR of 8.9% from 2013 to 2019. Growing concerns regarding spread of infectious diseases through blood such as Acquired Immunodeficiency Syndrome (AIDS) and Hepatitis have led to a rise in the demand for blood and blood products.
Based on the report titled “Blood Processing Devices and Consumables Market (Blood Bank Refrigerators, Freezers, Cell Processors, Blood Bags, Lancets, Hematology Reagents) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 – 2019” North America forms the largest share of the blood processing devices and consumables market owing to high levels of income, stable economies, support from the government and rising levels of public awareness. It is estimated that over 70 million units of blood is transfused every year in developed nations. Asia-Pacific is expected to show great potential for growth in the near future owing to surging levels of population, increasing efforts to encourage and improve blood transfusion and mounting demand for safe blood collection and transfusion.
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Mechanized devices are more popular than manual blood processing devices and form a larger share in the market. Multispecialty blood bags have replaced the use of glass bottles and are expected to grow at a rapid rate in the coming years.
Apart from Porter’s five forces analysis and value chain, the TMR report also discusses market accelerators, challenges and growth opportunities. Automation of blood processing devices, increase in complex surgical procedures, favorable government initiatives and improved reimbursement policies are some of the factors that drive the market. Trade analysts have zeroed in on the development of cell therapy as an important sector that could boost the industry. However, the rising cost of blood handling equipments is seen to restrain the growth.
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The report covers the global blood processing devices and consumables industry in terms of value across regions such as North America, Europe, Asia-Pacific and Rest of the World. It discusses the various aspects of the market by categorizing it into two main sections based on product type:
Blood processing devices: Blood cell processors, blood bank refrigerators, blood warmers, hematocrit centrifuges, blood grouping analyzers, and blood bank freezers.
Blood processing consumables: Blood collection needles, blood bags, vials, blood administration sets, blood collection tubes, sedimentation tubes, microscopic slides, test tube racks, coagulation reagents, blood filters, hematology reagents, blood lancets, slide stainer, and blood grouping reagents.
The report profiles major players in the blood processing devices and consumables industry. The segment analyzes each company’s financial overview, recent developments, past, present and future business strategies, product portfolio, market share and recommendations. The key market players mentioned in the report include Fresenius Kabi AG, Terumo BCT, Immucor, Haemonetics Corporation, Bio-Rad Laboratories, and MacoPharma SA Abbott Laboratories.
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