Blood Processing Devices and Consumables Market Latest Trends and Forecast Analysis Upto 2024

A spurt in new infections and infectious diseases that originates through the blood donation route remains a huge worry to the blood industry. Infectious diseases such as Acquired Immunodeficiency Syndrome (AIDS) and Hepatitis are the two major concerns which pose a threat to blood supply. The global market for blood processing devices and consumables is driven by a host of factors such as increasing demand from aging population for blood products, and increase in complex surgical procedures such as open heart and orthopedic surgeries. The global blood processing consumables and devices market was valued at USD 27.27 billion in 2012 and is expected to grow at a CAGR of 8.9% from 2013 – 2019 to reach an estimated value of USD 49.16 billion in 2019. In addition, strict government regulations across the world are also positively impacting the market. Manufacturers are developing technologically improved and advanced products for collection, processing, storage and delivery of blood and blood components.

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Automated devices such as whole blood collection devices and automated cell processor devices accounted for a larger share compared to the manual blood collection and processing methods. Collection and processing through automated devices saves time and increases the operational efficiency. The global multispecialty blood bags market is poised to grow at a healthy rate in the near future backed by technological advancements, introduction of new sophisticated products and increasing aging population. Blood bags ensure sterility in transfusion and have successfully replaced the use of glass bottles in transfusion procedure. Thereby, blood bags have gained lot of momentum due to its ability in maintaining blood safety and quality.

It has been estimated that more than 70 million units of blood is transfused each year in developed countries where blood safety remains the primary concern of the government, public and manufacturers as well. Therefore, to maintain the blood safety manufacturers are engaged in developing safer and advanced blood handling equipments.

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Area of blood filtration is witnessing a significant growth and is also driving the blood processing market. Leukocytes represent potential vector transmission for bacteria and viruses. Therefore, in-built leukocyte removal filters are designed for increasing the safety of recipients.

North America accounts for the largest share of the blood processing devices and consumables market owing to developed economies, increased level of public awareness and immense government support. Moreover, growth in these countries is also driven by certain factors such as high disposable incomes, favorable reimbursement policies and lesser societal stigma. Asia-Pacific region holds an immense growth potential in the near future. The market in Asia-Pacific region is growing due to expanding population base, as well as growing demand of blood and blood components. Moreover, government of these nations making sustained efforts to gain confidence of donor and patient’s blood transfusion process. In addition, rising demand for safe blood collection and transfusion procedures are likely to make the market lucrative for the suppliers. Suppliers can therefore look forward to the opportunities for blood processing devices in these emerging nations.

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Blood processing devices and consumables market is highly fragmented and witnessing intense competition among the players. Manufacturers are adopting mergers and acquisitions as their growth strategy for expanding their geographic presence as well as offer innovative products. Blood processing consumables market represents a high-volume low-profit market, thus strategic pricing of the products differentiates among the numerous players. Major players engaged in manufacturing of blood processing devices and consumables include Terumo BCT, MacoPharma SA, Fresenius Kabi AG, Haemonetics Corporation, Immucor, Inc., and others.

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