Blood Bag Market Worth USD 740.36 Million By 2026 - Grifols S.A., Kgaa, Hll Lifecare Ltd., Haemonetics Corporation, Innvol Medical India Ltd., Neomedic Limited, Macopharma Sa, Poly Medicure Ltd., Span Healthcare Private Limited, Teleflex and Fresenius Se

Global Blood Bag Market was USD 390.05 Million in 2018 and is projected is to exhibit 11.05% CAGR during the forecast period. The market is projected to be around USD 740.36 Million by 2026. The global blood bag market is marked with growth potential in the coming years. The factors that influence the demand for blood bag market are the growing number of blood donations, along with Blood bags enables better separation of blood components in a more sterile manner and safer transfusion of components.

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Increasingly wider use of blood component therapy than whole blood use, thus enabling more effective use of the scarce donor blood that is available. Blood Bags can successfully replace the use of glass bottles for collection storage, transportation and transfusion of blood and blood components since bottles require exhaustive cleaning, rinsing and autoclaving procedures and there are chances of breakage at any stage. Further, use of disposable bags eliminates the possibility of any contamination.

Increasing demand for blood-derived products and surge in transfusion procedures are expected to fuel demand for disposable plastic blood bags during the said period. Factors such as increasing incidence of trauma/accidental injuries and tender-based purchases by governments of developing countries coupled with customized blood bags with tracking systems offered by blood bags manufacturers and easy availability of value-added products for blood collection are expected to boost growth of the global disposable plastic blood bags market.

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Asia Pacific region holds the highest market of total market share in 2018. The key factors that drive the market include government initiatives and increase in need of blood transfusion in the region. Moreover, prevalence of various diseases, surge in awareness among people, and blood donation campaigns carried out by private and government organizations are anticipated to fuel the demand for disposable blood bags.

The global Blood Bag Market is segmented into Bag Types, Application, and by Region. On the basis of the Bag types the market is further bifurcated into collection bags and transfer bags. By Application Types, the market is classified into Hospital based and Standalone. Based on the geography the market is further segregated into North America, Latin America, Europe and Asia Pacific.

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The key players associated with the global Blood Bag Market are Grifols S.A., Fresenius Se & Co. Kgaa, Hll Lifecare, Ltd., Haemonetics Corporation, Innvol Medical India Ltd., Neomedic Limited, Macopharma Sa, Poly Medicure Ltd., Span Healthcare Private Limited, and Teleflex.

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