Blood Collection Monitors Market To Hold a High Potential for Growth by 2025

Blood collection monitor is a compact medical devices utilized to monitor homogenous mixing of blood and anticoagulant during collection of blood from a donor. This device is primarily utilized to prevent clot formation of blood. Blood collection monitors are used in hospitals, clinics and biotechnology industries worldwide. The device also ensures prevention of blood cells being damaged during collection procedure. A typical blood collection monitor contains an audio visual alarm that notifies an abnormal condition of the donor.

Rise in blood transfusion reaction and blood disorders demand the need of blood collection monitors worldwide. Increase in aging population has led to the growth in the rate of critical life-saving surgical procedures which demand blood transfusion. These factors have led to an increase in the inventory levels of blood banks and blood centers.

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According, to the World Health Organization (WHO) it has been estimated that the global elderly population is expected to reach around 2 billion by 2050; this was around 524 million in 2010. Moreover, the global geriatric population is expected to grow at the fastest rate in developed countries such as Italy, Germany, the U.K., the U.S. and Japan. Thus, increasing geriatric population globally augments the demand for blood collection monitors. Furthermore, advances in healthcare, technology and medical services demands the need of blood collection monitors to fulfill patient needs. Hence, the healthcare providers are rapidly adopting blood collection monitors with the aim of providing better healthcare services to the patient. Therefore, the global demand of blood collection monitors is experiencing a rapid pace worldwide.

However, cost of installation and deployment of blood collection monitors is a prime constraint for the adoption of this technology in hospitals and blood centers. This situation further intensifies in developing countries due to ongoing economic downturn, particularly in low GDP nations and some European countries. In addition, large hospitals and blood banks that have sufficient funds to invest may not actually adopt this technology because of lack of awareness about its financial benefits in the long run. Moreover, hospitals and blood banks in developing countries may not be able to afford such high costs and hence may hold back the growth of this market.

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North America represents the largest regional market for blood collection monitors primarily due to strong demand of the devices and increasing awareness among people about blood transfusion reaction. Europe accounts for the second largest market for blood collection monitors after North America. Rise in aging population and longer life expectancy has been majorly driving the blood collection monitors market in Europe. Asia-Pacific comprises countries such as India, China, Australia, Japan and Malaysia. Japan and China accounted for the largest share of the blood collection monitors market among the Asia-Pacific countries due to strong demand and increase in awareness about the device. Technological advancement would further expect to accentuate the market growth in these regions. Rest of the World (RoW) comprises the markets in Latin America, the Middle East and Africa. The market for blood collection monitors in RoW is primarily fuelled by extensive increase of healthcare infrastructure in Brazil and Mexico.

Major market players operating in the global blood collection monitors market include DSK International, Terumo Penpol, REMI ELEKTROTECHNIK LIMITED, Bioelettronica Srl, Accurate Scientific Instruments, Delcon SRL, Labtop Instruments Private Limited, Haemonetics Corporation among others.

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