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Blood Bags Market worth $836.09 million by 2030, growing at a CAGR of 6.82% - Exclusive Report by 360iResearch
Blood Bags Market | 360iResearch
The Global Blood Bags Market to grow from USD 493.20 million in 2022 to USD 836.09 million by 2030, at a CAGR of 6.82%.
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Blood bags are a vital component of the medical industry, as they are used to store and transport blood and blood components. Blood bags help to ensure the safety of both the patient receiving the donated blood and the donor providing it. They also help to reduce contamination, minimize wastage, and promote efficient use of resources. By keeping donated blood in a controlled environment, blood bags can help prolong its shelf life and maintain optimal quality. The main trends driving this growth include increasing demand for blood transfusions, rising prevalence of infectious diseases, technological advancements in blood storage and transportation, and increasing public health awareness about the importance of donating/storing blood for emergencies. However, limited supportive healthcare infrastructure in some countries and potential risks related to the material of blood bags can create hurdles for market growth. Advancements in blood bag manufacturing and materials create opportunities for a wider range of blood products and allow providers to offer better-quality products to their customers.
End-Use: Significant use of blood bags by the blood blanks
Blood banks and hospitals use blood bags to provide aseptic conditions for separating blood components. Blood banks rely on different types of blood bags to store and preserve donated blood and its components. They use single, double, triple, and quadruple blood bags to collect whole blood and separate it into its features, such as red blood cells, plasma, platelets, and cryoprecipitate. Hospitals are another significant end-user of blood bags. They rely on blood bags to receive and administer blood transfusions to patients during surgeries, treatments, and emergencies.
Material: Rising adoption of polyvinyl chloride (PVC) due to its high durability and lightweight properties
Polyvinyl chloride (PVC) is a commonly used blood bag material. It is highly durable, lightweight, and resistant to punctures and tears. It allows for easy visualization of the blood and facilitates proper monitoring during collection, storage, and transfusion. Polyolefins are another type of material used for blood bags. They are lightweight, non-toxic, and highly resistant to temperature change. Polyolefins also have a superior oxygen permeability compared to PVC, which makes them an ideal choice for long-term storage of blood products. Polyethylene terephthalate (PET) has transparency, flexibility, strength, and chemical resistance. This material offers excellent barrier properties against water vapor and oxygen while maintaining good heat resistance and is used for collecting and storing platelets and plasma. Moreover, polyurethane blood bags are made from polyurethane, a versatile polymer known for its flexibility, durability, and biocompatibility. Ethylene-vinyl acetate (EVA) blood bags are designed to reduce microbial growth and provide longer shelf life for stored blood products.
Usability: Growing popularity of transfer bags for securely transport blood samples
Blood collection bags are specialized medical devices designed for collecting and preserving blood during donation. These bags are used in blood banks, hospitals, and other healthcare settings to collect whole blood or specific blood components from donors. Transfer bags are specifically designed to securely transport blood samples from one laboratory or facility to another. These bags feature special pockets for multiple samples and additional space for paperwork, documentation, and other accessories needed for transportation.
Type: Increasing demand for single blood bags as they are cost-effective and straightforward compared to multi-component alternatives
Single blood bags are designed to store and transport a single blood or blood component unit. They usually consist of a primary bag for collecting the blood and a secondary bag for preserving the integrity of the blood during storage. A double blood bag is designed to collect and separate whole blood into two different blood components; plasma and red cells. Triple blood features an additional compartment for platelet storage and is utilized when blood components, such as red blood cells, plasma, and platelets, must be collected and preserved separately. Quadruple blood bags are the most complex type for collecting and storing multiple blood components.
Regional Insights:
The rising road crashes, increase in the number of surgeries, and labeling standards for blood bags are accelerating the need and use of blood bags in the Americas. The rising number of surgeries requiring blood transfusions, government initiatives to encourage blood donation, and the significant presence of blood bag manufacturers have increased the availability and usage of blood bags in the APAC region. Europe, the Middle East, and Africa market represent a developing landscape for the blood bags market owing to the rising number of surgeries, favorable government initiatives for blood donations, and emerging product development activities in the region. Additionally, the ongoing advancements and research in the material and design of blood bags are expected to facilitate the use of blood bags worldwide.
Market Segmentation & Coverage:
This research report categorizes the Blood Bags Market in order to forecast the revenues and analyze trends in each of following sub-markets:
Based on Type, market is studied across Double, Quadruple, Single, and Triple. The Single commanded largest market share of 32.12% in 2022, followed by Double.
Based on Material, market is studied across Polyethylene Terephthalate, Polyolefins, and Polyvinyl Chloride. The Polyvinyl Chloride commanded largest market share of 42.12% in 2022, followed by Polyethylene Terephthalate.
Based on Usability, market is studied across Collection Bag and Transfer Bag. The Transfer Bag commanded largest market share of 62.67% in 2022, followed by Collection Bag.
Based on End-Use, market is studied across Blood Banks and Hospital. The Blood Banks commanded largest market share of 67.88% in 2022, followed by Hospital.
Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom. The Asia-Pacific commanded largest market share of 42.12% in 2022, followed by Europe, Middle East & Africa.
FPNV Positioning Matrix:
The FPNV Positioning Matrix is essential for assessing the Blood Bags Market. It provides a comprehensive evaluation of vendors by examining key metrics within Business Strategy and Product Satisfaction, allowing users to make informed decisions based on their specific needs. This advanced analysis then organizes these vendors into four distinct quadrants, which represent varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital(V).
Market Share Analysis:
The Market Share Analysis offers an insightful look at the current state of vendors in the Blood Bags Market. By comparing vendor contributions to overall revenue, customer base, and other key metrics, we can give companies a greater understanding of their performance and what they are up against when competing for market share. The analysis also sheds light on just how competitive any given sector is about accumulation, fragmentation dominance, and amalgamation traits over the base year period studied.
Key Company Profiles:
The report delves into recent significant developments in the Blood Bags Market, highlighting leading vendors and their innovative profiles. These include AdvaCare Pharma, Advin Health Care, Alvedia, B L Lifesciences Private Limited, Demophorius Limited, Fresenius SE & Co. KGaA, Grifols, S.A, HAEMONETICS CORPORATION, HLL Lifecare Limited, HÄNSLER MEDICAL GMBH, Inovet, JMS Co., Ltd., KIEFEL GmbH, Lmb Technologie GmbH, Maco Pharma SAS, Mitra Industries Pvt. Ltd., Narang Medical Limited, Neomedic, Olidef Medical, Poly Medicure Limited, Qingdao Sinoland International Trade Co., Ltd., RENOLIT SE, SB-Kawasumi Laboratories, Inc., Shandong Weigao Group Medical Polymer Co.,Ltd., Suru International Pvt. Ltd., Suzhou Sinomed Co., Ltd., Terumo Corporation, The Metrix Company, TROGE MEDICAL GmbH, and Xindray Medical International Co., Ltd..
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Key Topics Covered:
1. Preface
2. Research Methodology
3. Executive Summary
4. Market Overview
5. Market Insights
6. Blood Bags Market, by Type
7. Blood Bags Market, by Material
8. Blood Bags Market, by Usability
9. Blood Bags Market, by End-Use
10. Americas Blood Bags Market
11. Asia-Pacific Blood Bags Market
12. Europe, Middle East & Africa Blood Bags Market
13. Competitive Landscape
14. Competitive Portfolio
15. Appendix
The report provides insights on the following pointers:
1. Market Penetration: Provides comprehensive information on the market offered by the key players
2. Market Development: Provides in-depth information about lucrative emerging markets and analyzes penetration across mature segments of the markets
3. Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments
4. Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players
5. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments
The report answers questions such as:
1. What is the market size and forecast of the Blood Bags Market?
2. Which are the products/segments/applications/areas to invest in over the forecast period in the Blood Bags Market?
3. What is the competitive strategic window for opportunities in the Blood Bags Market?
4. What are the technology trends and regulatory frameworks in the Blood Bags Market?
5. What is the market share of the leading vendors in the Blood Bags Market?
6. What modes and strategic moves are considered suitable for entering the Blood Bags Market?
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