Disposable Plastic Blood Bag Market is expected to reach US $ 926.26 Mn. by 2029

Disposable Plastic Blood Bag Market size was valued at US$ 583.85 Million in 2023 and the Disposable Plastic Blood Bag Market revenue is expected to grow at 9.67% through 2024 to 2030, reaching nearly US $ 1114.07 Million. The report analyzes Disposable Plastic Blood Bag Market dynamics by region and end-use.

Market Overview:

Plastic PVC bags replaced glass bottles in the 1970s for storing blood for transfusion, making the process safer and more convenient. These bags revolutionized the separation of blood products, allowing for targeted treatment of hematological illnesses such as anemia and hemochromatosis. Prior to plastic bags, separating platelets, plasma, and cryoprecipitate from whole blood was laborious and inconsistent in glass bottles. The availability of platelets for transfusion has supported the development of harsh chemotherapy and bone marrow transplantation for leukemia and lymphoma patients, saving many lives. The disposable plastic blood bag market analysis includes PESTLE and PORTER's five force analysis, as well as segment analysis by type, end-use, and region.

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Market Dynamics

Programs for blood donation and government initiatives: Government and private blood donation efforts drive demand for disposable blood bags. Unpaid donors contribute to community health by giving blood to hospitals and blood banks. In India, government initiatives aim for self-sufficiency in blood donations, but there is a shortfall of 2 million donations annually. Increasing awareness and societal changes are boosting the disposable plastic blood bag market.

Globally, road accidents and injuries are on the rise: The disposable plastic blood bag market is projected to grow due to an uptick in road traffic accidents. Each year, over 1.25 million people worldwide die in car crashes, with young adults being most vulnerable. Low- and middle-income countries like Uganda, Vietnam, and India account for 90% of these fatalities. Without stricter regulations, traffic accidents could become the sixth leading cause of death by 2030.

Risks associated with plastic bags: The use of plastic bags in an unsafe or contaminated manner increases the risk of transmitting HIV, hepatitis B or C, and sepsis. Hepatitis C, caused by the hepatitis C virus, is a common chronic bloodborne infection in the US. 3.2 million Americans have chronic Hepatitis C, many unaware. Patients prefer fresh blood from donors over disposable bags, hindering the plastic blood bag market's growth. Decreased blood donations in developing countries like South Africa, Angola, the Philippines, and Russia also affect the industry.

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Ongoing research and development: Research and development efforts in the disposable plastic blood bag market aim to enhance safe and advanced blood collection, transportation, and storage technologies. Johns Hopkins University explored the feasibility of utilizing drones for blood transport, potentially offering efficient and quick delivery to remote or time-sensitive locations like accident or disaster sites. These advancements are expected to drive growth in the market during the forecast period.

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Recent Developments:

• In December 2023, the disposable blood bags market is anticipated to experience significant growth in the forecast period on a global scale. Key drivers include the rising incidence of chronic diseases, advancements in technology, and governmental efforts to encourage safe blood transfusion practices, collectively propelling the expansion of the market.

• In September 2022, in India, the Union Health Ministry started a mega drive for voluntary blood donation, 'Raktdan Amrit Mahotsav,' to increase awareness about the need for regular non-remunerated blood donation and to ensure availability, affordability, and accessibility of blood and its components to all.

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Market regional insight:

In 2023, North America led the market due to rising blood-related illnesses, holding xx% of revenue share. China, the second-largest economy globally, is projected to grow at xx% CAGR, reaching a market size of US $xx billion by 2027. Japan and Canada are expected to grow at xx% and xx%, respectively, while Germany in Europe is forecasted to grow at approximately xx% CAGR.

Key Offerings:

Porter's Five Forces Model used for business strategy designing, PESTEL Analysis was to develop company strategies considering political, economic, social, technological, environmental, and legal factors.

Market Segmentation:

by Type

• Single blood bag
• Double blood bag
• Triple blood bag
• Quadruple blood bag

by End-Use

• Hospitals
• NGOs (Non-Government Organization)
• Blood Banks
• Home Healthcare

Some of the current players in the Market are:

• Terumo Corporation (Japan)
• Weigao (China)
• Fresenius SE & Co. (Germany)
• Grifols S.A. (Spain)
• HLL Lifecare Limited (India)
• Neomedic International (Barcelona)
• Haemonetics (United States)
• Macopharma (India)
• Sichuan Nigale Biomedical (China)
• Suzhou Laishi Transfusion Equipment (China)
• Advacare Pharma (India)
• Halyard Health (United States)
• Velico Medical Inc. (United States)
• Megacare International Inc. (India)
• Poly Medicure Limited (India)
• Innvol Medical India Limited (India)
• Others

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