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Autotransfusion Devices Market Size, Growth & Trends 2024-2033
Autotransfusion Devices Market Size
According to The Business Research Company's, The autotransfusion devices market size has grown strongly in recent years. It will grow from $1.17 billion in 2023 to $1.24 billion in 2024 at a compound annual growth rate (CAGR) of 6.0%. The growth in the historic period can be attributed to increase in surgical procedures, cardiovascular disease prevalence, orthopedic surgeries and joint replacements, focus on patient safety, efforts to reduce blood transfusion costs.
The autotransfusion devices market size is expected to see strong growth in the next few years. It will grow to $1.57 billion in 2028 at a compound annual growth rate (CAGR) of 6.0%. The growth in the forecast period can be attributed to growing geriatric population, expansion of ambulatory surgical centers, focus on blood conservation in obstetrics, adoption in developing healthcare markets. Major trends in the forecast period include technological advancements in blood processing, integration of advanced sensors, customization for different procedures, single-donor closed-loop systems, miniaturization of devices.
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Market Drivers and Trends:
Increasing prevalence of cardiovascular diseases is expected to propel the growth of the autotransfusion device market going forward. Cardiovascular diseases (CVDs) refer to a group of disorders affecting the heart and blood vessels. Autotransfusion devices contribute to the trend of minimizing the use of allogeneic blood transfusions. Allogeneic transfusions involve donated blood from external sources, and autotransfusion allows for the reinfusion of the patient's own blood, reducing the risk of transfusion reactions and complications associated with donor blood. For instance, according to the Heart Disease and Stroke Statistics-2022 Update report by American Heart Association, a US-based non-profit organization, cardiovascular diseases (CVDs) remain the leading cause of death globally, taking an estimated 17.9 million lives each year. Therefore, the increasing prevalence of cardiovascular diseases is driving the growth of the autotransfusion device market.
Major companies operating in the autotransfusion devices market are undergoing strategic partnerships to enhance management of controlled substances. Collaboration allows companies to combine their expertise and resources for the development of advanced technologies and innovative solutions in autotransfusion devices. For instance, in November 2021, Omnicell, a US-based healthcare company and Fresenius Kabi, a Germany-based pharmaceutical company joined forces to improve controlled substance management in healthcare settings. Their collaboration aims to streamline the management of autotransfusion devices and other controlled substances, ensuring patient safety and regulatory compliance.
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Major Key Players of the Market:
Becton Dickinson And Company; Medtronic plc; LivaNova plc; Haemonetics Corporation; Fresenius SE & Co KGaA; Terumo Corporation; Asahi Kasei Medical Co. Ltd.; Miltenyi Biotec; B. Braun Melsungen AG; GE HealthCare Technologies Inc.; Cerus Corporation; Stryker Corporation; Atrium Medical Technologies; Brightwake Ltd.; Getinge AB; Advancis Surgical; Beijing ZKSK Technology Co. Ltd.; Braile Biomédica; Redax S.p.A.; Teleflex Incorporated; Zimmer Biomet Holdings Inc.; Gen World Medical Devices Corporation; Soma Technology International LLC; ProCell Surgical Inc.; Beijing Jingjing Medical Equipment Co. Ltd.; Johnson & Johnson Inc.; Sorin Group; Baxter International Inc.; Dideco; Nipro Corporation; Advantech Wireless Technologies Inc.
Autotransfusion Devices Market 2024 Key Insights:
• The autotransfusion devices market will grow to $1.57 billion in 2028 at a compound annual growth rate (CAGR) of 6.0%.
• Autotransfusion Device Market Soars Amidst Rising Prevalence Of Cardiovascular Diseases
• Omnicell And Fresenius Kabi Forge Strategic Partnership To Elevate Controlled Substance Management In Autotransfusion Devices
• North America was the largest region in the autotransfusion devices market in 2023
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Advancis Surgical
Fresenius Kabi
Haemonetics
LivaNova
Medtronic
Terumo Corporation
Atrium Medical
Stryker
...
On the basis of product, this report displays the production, revenue,…
