IQ4I Research & Consultancy published a new report on “Blood Collection, Processing, Management Devices & Consumables Global Market – Forecast To 2023”

Blood is a vital fluid of human body and it has a major role in saving the life of a patient during the life threatening situations by a procedure called transfusion. But before transfusion, the blood collected from the donor needs to be checked thoroughly to avoid the chances of spreading the infectious diseases like HIV/AIDS, Hepatitis and others, hence different types of collection, processing devices & consumables are used to analyze the blood samples and then segregate them into different blood components like plasma, platelets, WBC’s and RBC’s to treat the patient lacking in particular blood component or whole blood. Management tools are part of blood market that plays a major role in managing the blood supply chain till the point of transfusion. This blood collection, processing, management devices & consumables are mainly used in diagnostics and therapeutic procedures to save the life of a patient and enhance their safety.

According to IQ4I analysis, the blood collection, processing, management devices & consumables global market is expected to grow at a mid range single digit CAGR to reach $35,693 million by 2023. Increase in aging population and subsequent rise in incidence of chronic diseases, emergence of automated blood collection and processing devices, favorable reimbursement policies are some of the factors driving the blood collection, processing management devices & consumables market growth. Emergence of needle free devices & RFID technology and market expansion opportunities in emerging countries are few opportunities for the expansion of BCPMD&C market. However, patient safety risks due to chances of transmission of infections and infectious diseases and lack of skilled professionals in handling automated processing devices are expected to hamper the market growth.

The blood collection, processing, management devices & consumables global market is mainly segmented by applications, products, end-users and by geography. The BCPMD&C global market by the application is segmented into diagnostics, therapeutics, research and others. The diagnostic segment accounted for the largest share in 2016. Among the various types of diagnostics application segment, non-infectious disease segment has been gaining huge momentum with strong CAGR from 2016-2023. Among the therapeutic application segment, injury, trauma and surgery generated the largest revenue in 2016 due to increasing trauma and accident incidences.

Advancements in technology includes automated blood collection & processing devices, portable blood collection and processing devices, customized blood collection, processing devices & consumables, Hemosep 3-D printed blood collection devices, microfluidic blood collection devices, RFID technology, robotics in blood management. One of the most advantageous advancement in this market includes microfluidic blood collection device called HemoLink, which is a blood collection device that leverages microfluidics to create a slight vacuum that pulls the blood from capillaries through tiny channels in the skin into the small tube and collects about 0.15 cubic centimeters of blood without injuring the veins. In 2015, Tasso, Inc. a medical technology start-up, founder of this device, announced that it will apply for FDA clearance by the end of year and product is yet to launch.

Matured regions such as North America commanded the largest market share in 2016 due to high investments in healthcare infrastructures, availability of government funds improved market growth in this region. However, Asia-pacific region is expected to grow at the highest CAGR from 2016-2023 due to increased healthcare awareness, improved economic growth, and increasing awareness among the people about the spread of infectious diseases through blood as a main medium. Significant launch of new products, agreement, partnership, collaborations, and joint ventures are the industry trends that are playing a major role in the market growth.

Major players in blood collection, processing, management devices & consumables global market include Abbott Laboratories (U.S.), Becton, Dickinson & Company (U.S.), Haemonetics Corporation (U.S.), Grifols International S.A. (Spain), Sysmex Corporation (Japan), Immucor, Inc. (U.S.), Danaher Corporation (U.S.), Fresenius Kabi (U.K.), Terumo Corporation (Japan), Macopharma (France), ThermoFisher Scientific Corporation (U.S.), Biomerieux (France), Bio-Rad Laboratories (U.S.) and Roche Holdings AG (Switzerland).

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This release was published on openPR.