Rising Incidence of Blood Disorders & Growing Economic Burden of Patient Safety Targets Doubles the Emphasis on Product Safety Innovations in the Blood Collection & Processing Supplies Market
Centrality
of handling blood products in healthcare; aging population, rising incidence of
blood disorders, increase in blood donations, growing number of surgeries
requiring blood transfusions and the resulting economic and financial burden of
safe handling of blood samples and products are poised to drive the global market for Blood
Collection and Processing Supplies to reach US$15.2 billion by 2024. These factors throw the
focus on improved blood management techniques and thereby the industry’s focus
on developing innovative products that enhance safety of care givers and
patients.
The
global blood collection and processing supplies market is driven by a host of
factors, including growing incidence of diseases, such as cancer and sickle
cell anemia; growing aging population; increase in number of complex surgeries
such as organ transplantation and stem cell therapy; technological advancements;
and strong promotional campaigns undertaken by various collection agencies
worldwide for encouraging blood donation. Stringent regulations along with the
increased focus of medical device manufacturers on developing automated,
improved solutions to collect, process and store blood and its components will
continue to fuel growth in the market. With safety at the forefront of focal
areas, demand for products and treatment that makes blood safer continues to
rise. Plastic tubes, in this regard, provide
more safety as they minimize tube breakage chances and significantly reduce the
specimen spillage, thus preventing the blood-borne pathogen exposure.
Detection, removal as well as deactivation of pathogens are gaining importance
as developments continue to take place at the blood safety level. Other major
technological advancements in blood industry comprise development of blood bags
with blood collection monitors, integrated filters as well as tube sealers.
Blood collection monitors are also being launched with other advanced features
such as fully-automated pre-installed software systems and multiple donor
management for better control of blood collection quality, as well as donor
health during the donation process.
Nevertheless,
the market is constrained by few trends that challenge the market growth. These
include declining blood transfusion rates on account of popularity of minimally
invasive procedures with little to no blood loss, and improved blood management techniques in mature markets. Emerging
markets, meanwhile, are witnessing higher demand growth with increasingly
advanced medical technology and better healthcare coverage. Higher demand for
blood products in the emerging or developing nations is boosting the global
market growth.
As
stated by the new market research report on Blood Collection and
Processing Supplies, the United States represents the largest market worldwide. Higher
consumer awareness levels, well-established healthcare infrastructure,
government support, and availability of advanced blood collection technologies
position the US as the leading region. Asia-Pacific ranks as the fastest
growing market worldwide with a CAGR of 6.7% over the analysis period, attributed
to the growing population, expanding healthcare coverage, and rise in surgical
procedures in countries such as China and India. Increasing cases of diseases
such as dengue, which require transfusion of specific blood components, also
present potential growth opportunities. Additionally, governments in these
nations are focusing much of their attention on providing universal healthcare
services and improving healthcare delivery, including the blood banking sector,
thereby providing further impetus to the market’s growth in these countries.
Major
players in the market include AdvaCare Pharma, Beckman Coulter Inc., Becton,
Dickinson and Company, Fresenius Kabi AG; Grifols International S.A.,
Haemonetics Corporation, Immucor Inc., JMS Co. Ltd., Kawasumi Laboratories
Inc., MacoPharma SA, Shanghai Transfusion Technology Co. Ltd., Stago, Terumo
Corp., and Terumo BCT Inc., among others.
The
research report titled “Blood Collection and
Processing Supplies: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a
comprehensive review of market trends, issues, drivers, mergers,
acquisitions and other strategic industry activities of global companies. The
report provides market estimates and projections for Blood Collection and
Processing Supplies in terms of US$ for all major geographic markets, such as
the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia and
Rest of Europe), Asia-Pacific (China and Rest of Asia-Pacific), Latin America,
and Rest of World. Key product segments analyzed include Blood Administration
Sets, Blood Collection Needles, Blood Collection Tubes & Micro
Collectors, Blood Lancets, Blood Bags, Blood Grouping Reagents, Coagulation
Reagents, Hematology Reagents, Microscopic Slides, Slide Stainers, Test Tube
Racks, and Vials.
For
enquiries e-mail us at rsd@strategyr.com or info411@strategyr.com.
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