Blood Banking Devices Market Revenue and Opportunities Till 2026 | Analyzed By Experts such as Becton, Dickinson and Company, Thermo Fisher Scientific Inc., Abbott Laboratories, Fresenius Kabi AG, Beckman Coulter Inc., bioMérieux, Inc.

Blood banks operate as a central body for collecting, separating, and storing the blood. Blood banks collect and separate the blood into various components such as red blood cells, white blood cells, and platelets, in order to efficiently deliver them based on the need of patients. Blood donation is an easy, important, and life-saving resource for patients, as compared to the drugs, which help bone marrow of the patients to produce new blood cells more rapidly and it requires weeks to produce blood cells. In any geographical area, four different models of blood banking service has been implemented, which includes centralized, regionalized, coordinated hospital services, and a coordinated mixed system.

Request For Sample Copy: https://www.coherentmarketinsights.com/insight/request-sample/1980

Market Key Players

Key players operating in the global blood banking devices market include Becton, Dickinson and Company, Thermo Fisher Scientific Inc., Abbott Laboratories, Fresenius Kabi AG, Beckman Coulter Inc. (Danaher Corporation), bioMérieux, Inc., China Biologic Products Holdings, Inc., Immucor, Inc. (IVD Holdings, Inc.), Instrumentation Laboratory Company, and F. Hoffmann-La Roche AG (Roche Molecular Systems Inc.)

Market Dynamics

Blood banking devices market is expected to witness lucrative growth opportunities during the forecast period, owing to increasing demand for blood units in various surgical procedures such as cardiovascular surgery interventions, hematology procedures, bone marrow surgery procedures, and general medicine. Moreover, growing shortfall between demand and supply of blood units in various emerging economies such as India is expected to drive growth of the blood banking devices market in these regions during the forecast period.

Furthermore, engagement by market players to offer technologically advanced blood collection, blood processing, and blood storage devices in the market will lead to an increase in the revenue of blood banking devices market in the near future. Along with this, government and private owned blood banks have been launching mobile application to spread awareness regarding importance of blood donation, and to offer quick, safe, and donor specific delivery of blood units to patients.

Huge shortage of blood units in various countries is one of the major factors driving growth of the global blood banking devices market. For instance, according to the World Health Organization (WHO) 2012 data findings, only around 9 million blood units are available annually whereas the demand is for 12 million units, worldwide. Furthermore, a significant gap between the , increasing demand for blood units and actual numbers of blood banks present globally; indicates huge opportunity for blood banking devices market over the forecast period. For instance, according to the National Health Profile-2018 prepared by the Central Bureau of Health Intelligence (CBHI), as on June 2017, the total number of licensed blood banks in India were 2,903, which majorly includes government owned blood banks and charitable trust blood banks. Moreover, according to same source, there are 23,582 hospitals in India, of which 19,810 hospitals are in rural area and 3,772 hospitals are in urban area.

The global blood banking devices market was valued at US$ 26,234 Mn in 2017 and is expected to witness a CAGR of 7.4% over the forecast period (2018 – 2026).

Increasing demand for blood units is expected to fuel growth of the market

Growing demand of blood and blood components will significantly drives blood banking devices market. For instance, according to the American National Red Cross 2018 data findings, around 7,000 units of platelets and 10,000 units of plasma are required daily in the U.S. and around 21 million blood components are transfused each year in the U.S. The Singapore Red Cross Society, (2017); needs around 120,000 units of blood every year, to meet the transfusion needs of patients, which is equivalent to over 400 units of blood per day. Furthermore, according to the same source, from the total volume of blood collected by the Singapore Red Cross Society in 2017, blood was mainly used in surgical procedures (54%), general medicine (31%), hematology and blood diseases (9%), and for accident and emergency cases (6%).

Request For Customization: https://www.coherentmarketinsights.com/insight/request-customization/1980

Increasing number of surgical procedures worldwide is propelling growth of the market

Patients undergoing treatment for cancer, orthopedic surgeries, organ and bone marrow transplants, cardiovascular surgeries, and treatment for inherited blood disorders require blood. According to America’s Blood Centers 2012 data findings, among the two essential blood components, red blood cells and platelets, general medicine procedures (28%) required high amount of red blood cells during practices, while hematology and oncology surgery procedures (32%) required higher amount of platelets. Moreover, increasing number of surgery interventions such as cancer, organ and bone marrow transplants, cardiovascular surgeries, general surgery, nephology, and dialysis results in increasing demand for blood components, thereby driving growth of the blood banking devices market. For instance, according to the American Cancer Society (ACS), around 1.7 million people were diagnosed with cancer in 2017 and among these, some of the patients need blood daily during their chemotherapy treatment.

About Coherent Market Insights:

Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.

Contact Us:

Mr. Shah
Coherent Market Insights
1001 4th Ave,
#3200
Seattle, WA 98154
Tel: +1-206-701-6702
Email: sales@coherentmarketinsights.com

This release was published on openPR.