Blood Plasma Thawing Device Market Owing to Rise In Incidences Of Chronic Diseases

According to Precision Business Insights (PBI) latest report the global blood/plasma thawing device market was valued at USD 215.0 million in 2021, growing at a CAGR of 11.4% during 2022-28. Awareness about GMP to maintain the integrity of fresh frozen plasmas (FFPs) and thawing products in cellular therapies to drive the demand for global blood/plasma thawing devices market. Increased knowledge of plasma donation and government initiatives, and an increased in the number of embryo donors and awareness of third-party reproduction are all driving the blood/plasma tawing device market forward. The market's growth is hampered by the high cost of automation for thawing equipment. Moreover, the dire need for novel medicinal inventions is expected to propel the adoption of thawing systems, which will provide lucrative opportunities for market growth during the forecast period.

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Blood Bank Segment Dominates the Blood/Plasma Thawing Device Market:
The blood bank segment dominates the global blood/plasma thawing devices market. The expansion of the blood bank segment can be attributed to the increase in funding for blood banks. Growing demand from blood banks, blood transfusion centers, and hospitals, coupled with favorable governmental initiatives, is fuelling the growth of this segment. Highly advanced blood banks, hospitals, and transfusing centers are also boosting the segment's growth. The rising reasons for blood transfusion in various patient populations are driving the increased adoption of enhanced blood/plasma thawing devices in clinical practice.

North America Leads Blood/Plasma Thawing Device Market:
In 2021, North America accounted for a large portion of the blood/plasma thawing devices market. Significant investigations on wet and dry thawing procedures for assuring the quality of human fresh frozen plasma (FFP) in diverse therapeutic applications have backed up product innovations in the regional market. As a result, medical device companies are rapidly releasing FDA-approved thawing devices in hospitals for bleeding disorders, anemia, and cancer. The Asia Pacific blood thawing devices market is expected to rise at a promising rate in the near future. China and India are set to lead the way in terms of growth. Transfusion-transmitted illnesses and outbreaks of healthcare-associated infections (HAI) have increased demand for next-generation thawing devices.

Strategic New Product Launches, Mergers, Acquisitions and Agreements are the key strategies adopted by market players:
Global blood/plasma thawing device market further reveals that the key players increasingly adopting strategies such as launch of newer products, product launches, and long-term alliance to improve market revenue share and gaining significant geographic presence across the region. For instance, In Jan 2021, FreMon Scientific announced the FDA has now cleared ZipThaw™ for frozen plasma thawing as a Class II medical device. ZipThaw, used with the ZipSleeve™ anti-contaminant disposable barrier, is the world's first dry and portable precision plasma thawing system. Clinicians can now deliver vital plasma to patients at the right time and temperature. In December 2019, Ethicon Launched VISTASEAL Fibrin Sealant (Human) To Manage Bleeding During Surgery. VISTASEAL is first innovation to emerge from Ethicon's strategic partnership with Grifols, a pioneer in the plasma industry. In Jan. 2022, Thermo Fisher Scientific Inc. the world leader in serving science, and PeproTech, Inc., a leading developer and manufacturer of recombinant proteins, announced that Thermo Fisher completed its acquisition of PeproTech on December 30, 2021, for a total cash purchase price of approximately $1.85 billion

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The blood/plasma thawing device market is segmented based on type, end-user, and geography.
Based on the Type, the market is segmented into the following:
• Manual
• Automated

Based on the End User, the market is segmented into the following:
• Blood Banks & Transfusion Centers
• Hospitals & Diagnostic Laboratories
• Cord Blood & Stem Cell Banks
• Research & Academic Institutes
• Biotechnology & Pharmaceutical Companies
• Tissue Banks

Based on geography, the market is segmented into the following:
• North America
• Europe
• The Asia Pacific
• Latin America
• MEA

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Key player's profiles in the blood/plasma thawing device market report are Sartorius AG, Thermo Fisher Scientific, Inc., Cytiva (GE Healthcare), Cardinal Health, KW Scientific Apparatus Srl, Boekel Scientific, Barkey GmbH & Co. KG, Helmer Scientific Inc., Fremon Scientific Inc.

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