Disposable Blood Bags Market Is Booming Worldwide 2021-2028 | Poly Medicure Limited, Grifols, S.A.

Overview

Disposable Blood Bags are marketed under government contracts and appropriations through the tendering procedure at public hospitals and federal blood banks. Disposable Blood Bags are also in high demand among privately financed hospitals, clinics, and blood banks. Throughout blood donation campaigns, NGOs also utilize disposable plastic blood collecting bags.

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Statistics

By the end of 2027, the global disposable blood bag market is expected to be worth US$ 537.2 million in value and 459,040 thousand units in size.

Drivers

During the forecast period, rising blood donation programs are projected to drive the global disposable blood bag market forward. During National Blood Donor Month in January 2018, the New Jersey Health Department urged individuals to donate blood.

Opportunities

Recycling of disposable blood bags is projected to provide attractive growth possibilities for market participants.

Restraints

The global disposable blood bag market is forecast to be constrained by rising plastic pollution. Llyn Glaslyn, a lonely lake near the top of Snowdon (North-western Europe), contains an average of three pieces of micro-plastic per liter, according to a study conducted by Bangor University's School of Natural Sciences in March 2020.

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Key Takeaways

The global disposable blood bag market's Collection Bags segment was worth US$ 185.6 million in 2019 and is anticipated to grow at a CAGR of 9.8% to reach US$ 393.4 million by 2027. Over the forecast period, the growing incidence of blood-related diseases is expected to aid the segment's expansion.

In terms of value, the Blood Banks sector dominated the global disposable blood bag market in 2019, representing approximately 76.7 percent of the market, trailed by hospitals. Rising blood donation efforts are expected to aid the market over the forecast period.

Market Trends

In nations such as the U.S., the adoption of quality system standards for blood and blood components such as apheresis collection is fuelling the use of triple and quadruple collection systems. Furthermore, rising demand for plasma and blood products as a result of increased accidental and traumatic wounds is driving the market for triple and quadruple blood collection bags to enable efficient and simple serum and blood component transfusion.

Blood donation drives are a priority for major non-profit organizations. For instance, Amy's Army, a US-based non-profit organization, collaborated with the Blood Bank of Delmarva to hold its second annual Blood Drive in March 2020.

Due to the epidemic of coronavirus illness in Asia Pacific, blood collection bags are in limited supply.

Regulations

Food and Drug Administration (FDA) classifies Disposable Blood Bags under class II (performance standards) medical devices as an empty container for the collection and processing of blood and blood components

FDA describes empty containers for the collection and processing of blood and blood components in 21 CFR Sec. 864.9100- Subpart J from part 864 (Hematology And Pathology Devices) of Subchapter H (Medical Devices)

According to this section, the manufacturer of Disposable Blood Bags are thus required to submit premarket notification 510(k) as mentioned in 21 CFR 807 Subpart E

This notification is intended to demonstrate the safety and effectiveness of the device

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Competitive Landscape

Key companies contributing in the global disposable blood bags market are Terumo Penpol Pvt. Limited, Fresenius Kabi India Pvt. Ltd., Grifols, S.A., Poly Medicure Limited, Innvol Medical India Limited, Macopharma, Span Healthcare Private Limited, and HLL Lifecare Limited.

Key Developments

Grifols sponsored North Carolina's first sustainability conference in November 2019 to reaffirm the company's commitment to recycling and reuse.

HLL Lifecare Limited announced a "Plastic free HLL" campaign in October 2019 to coincide with the Government of India's "Swachhata hi Seva" initiative.

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