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Disposable Blood Bags Market Regional Insights, Trends And Opportunities
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In recent times, disposable plastic blood bags has replaced the usage of glass bottles due to problems associated with use of glass bottles including inadequate sterility, leading to blood contamination, and the presence of air bubbles resulted to severe complications during blood transfusion. Disposable plastic blood bags also help in the separation of blood components such as plasma, platelets, and cryoprecipitate, which are used to treat a range of blood disorders.
The global disposable blood bags market size was valued at US$ 230.1 million in 2017, and is expected to witness a CAGR of 12.1% over the forecast period (2018 – 2026).
Rising prevalence of diseases such as cancer and various blood related disorder (anemia, hemophilia, and sickle cell disease) is increasing demand for blood transfusion, which eventually drives growth of the disposable blood bags market. For instance, according to Red Cross Blood Organization facts of 2017 about blood needs, sickle cell disease affects 90,000 to 100,000 people in the U.S. and approximately 1,000 babies are born with the disease each year. Sickle cell patients often require blood transfusions throughout their lives.
Increasing number of cancer incidences worldwide is also a major factor driving the disposable blood bags market’s growth. For instance, according to American Cancer Society, 2018, 1,735,350 new cancer cases and 609,640 cancer deaths are projected to occur in the U.S. by the end of 2018. Majority of these patients will need blood, sometimes daily, during chemotherapy treatment. Furthermore, according to the New York Blood Center, approximately 4.5 million Americans receive blood transfusions each year and 40,000 pints are transfused each day in the country, to save the lives of cancer patients, burn, accident, and trauma victims, mothers delivering babies, newborn babies, transplant patients, surgery patients and others in need.
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Disposable Blood Bags Market Restraints
Though the demand for blood transfusion is huge worldwide, there is a shortfall in blood supplies in low-income countries due to lack of a robust infrastructure for blood collection, distribution, and storage. In most of the emerging economies, there is no national blood service as a result organizations are struggling to provide blood to meet the needs of the population.
Moreover, the medical infrastructure is also poor in these countries. Patients, in need of blood transfusion, are often located at great distances from hospitals and clinics, pushing up mortality rates. Production of disposable blood bags is stacked due to the presence of numerous stringent standards and regulations starting from manufacturing to marking for disposable blood bags.
Disposable Blood Bags Market - Regional Insights
On the basis of region, the global disposable blood bags market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. In 2026, North America is expected to hold the leading position in the global disposable blood bags market, owing to well-established medical and healthcare infrastructure providing timely blood transfusion services. Growing awareness among people for blood donation is also a major factor driving growth of the disposable blood bags market. According to the Red Cross Blood Organization blood supply statistics of 2017, an estimated 6.8 million people in the U.S. donate blood every year.
Asia Pacific disposable blood bags market is expected to grow at the highest rate due to high demand for blood collection bags in the region. Growing healthcare facilities will act as a driver for growth of medical sector in countries such as India. Continuous developments and rising demand for better blood collection technology in the region is expected to boost the disposable blood bags market in the near future.
Disposable Blood Bags Market - Competitive Landscape
Key players operating in the global disposable blood bags market include AdvacarePharma, Fresenius Kabi, Grifols, HLL Lifecare, Haemonetics Corporation, Macopharma, Neomedic, Poly Medicure, SURU International, Span Healthcare, and TERUMO PENPOL. Use of biosafety materials in the manufacturing of blood bags and favorable support from government authorities is expected to create huge growth opportunities for disposable blood bag manufacturers.
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About Coherent Market Insights:
Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.
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