Disposable Blood Bag Market Analysis, Drivers, Restraints, Threats & Growth Forecast To 2030
The global disposable blood bag market size was worth around USD 225.1 Million in 2022 and is predicted to grow to around USD 372.5 Million by 2030 with a compound annual growth rate (CAGR) of roughly 6.5% between 2023 and 2030.The study examines the market’s drivers, restraints, and challenges as well as the impact each has on demand over the forecasted period. The paper also looks at new potential in the market for disposable blood bags.
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Disposable blood bags are biomedical equipment that are used to collect, store, transport, and transfuse blood and its constituent parts. They are composed of biocompatible PVC that has been properly combined with the right additives to prevent it from reacting negatively with the components of blood. Disposable blood bags are preferred over glass bottles since they don’t require as much maintenance and can shatter at any time. Glass bottles also need to be completely cleaned, rinsed, and autoclaved. Disposable blood bags also help to separate blood components including plasma, platelets, and cryoprecipitate that are utilised to treat various blood illnesses.
Key Findings :
• Our research analyst’s analysis indicates that over the projected period (2023–2030), the worldwide disposable blood bag market will expand annually at a CAGR of about 6.5%.
• The market for disposable blood bags was estimated to be worth roughly USD 225.1 million in 2022 and is anticipated to grow to USD 372.5 million by 2030.
• Disposable blood bags will be more frequently needed as a result of surgical procedures being fueled by the rising rates of cardiovascular disorders.
The market is expanding as a result of an increase in traffic collisions and injuries.
During the analysis period, there is expected to be a rise in auto accidents, which would boost demand for blood and blood products. According to the World Health Organisation, transport accidents claim the lives of 1.3 million people every year. An additional 20 to 50 million people experience non-fatal injuries. Most countries lose 3% of their GDP as a result of traffic accidents. Low- and middle-income nations account for 93% of all traffic fatalities despite owning around 60% of all cars worldwide. Since the victims of these accidents lose a lot of blood, an increase in traffic accidents is expected to have a major effect.
Lack of adequate infrastructure prevents the industry from expanding.
Over the course of the projection period, it is predicted that the lack of suitable healthcare infrastructure for blood collection, storage, and distribution across numerous low-income nations will severely impede market growth for disposable blood bags.
Increased blood-related illnesses are anticipated to present a valuable business opportunity.
The global disposable blood bag market is expected to expand during the predicted period due to the rising prevalence of blood-related disorders and the rising demand for blood collection and transfer bags. The US National Heart, Lung, and Blood Institute estimates that each year, blood problems affect millions of people. Red and white blood cells, platelets, bone marrow, vascular endothelium, and plasma proteins are all impacted by haemophilia, anaemias, venous thromboembolism, and other bleeding disorders.
The possibility of disease outbreaks could prevent market growth.
When the plastic bags are used unevenly or are contaminated, there is an increased risk of spreading sepsis, hepatitis B or C, and HIV. For instance, the most prevalent chronic bloodborne disease transmitted by blood transfusion is hepatitis C. These dangers increase in numerous low-income nations without a strong healthcare infrastructure for the collection, storage, and distribution of blood. This is projected to impede the growth of the disposable bag market globally throughout the projection period.
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The Global Disposable Blood Bag Market is segmented based on product, application and region.
Global Disposable Blood Bag Market: Product Segment Analysis
● Blood Collection Bags
● Blood Transfusion Bags
Global Disposable Blood Bag Market: Application Segment Analysis
● Blood Banks
Recently Occurring Events :
• Grifols purchased the seven US plasma exchange facilities from Kedrion in April 2021 for USD 55.2 million. Grifols estimates that as a result of the transaction, it will have immediate access to the plasma produced in these facilities, which produce roughly 240,000 litres of it each year.
• A firm agreement was made in January 2021 for Haemonetics Corporation to buy privately held Cardiva Medical Inc. The acquisition is likely to help Haemonetics diversify and improve its hospital services in the wide and increasing interventional cardiology portfolio, which includes disposable blood bags.
The global disposable blood bag market is dominated by players like:
● TERUMO BCT INC
● Fresenius Kabi India Pvt Ltd
● Demophorius Healthcare Ltd
● Neomedic International SL
● Teleflex Incorporated
● Qingdao Sinoland International Trade Co Ltd
● JMS Co.Ltd
● KAWASUMI LABORATORIES INC
● AdvaCare Pharma
● Coloplast Corp
● The Metrix Company
● BL Lifesciences
● SURU INTERNATIONAL PVT LTD
During the forecasted period, North America is anticipated to lead the market.
During the forecast period, North America is anticipated to dominate the global market for disposable blood bags. The market will grow profitably as a result of elements like rising blood test usage and the regional prevalence of various chronic diseases and blood-related disorders. The existence of a well-developed and equipped healthcare infrastructure, an increase in blood donation activities, and government attempts to promote the use of disposable blood bags to prevent infections are additional variables that may have a favourable impact on market development. Every day in the US, more than 36,000 units of red blood cells, 7,000 units of platelets, and 10,000 units of plasma are needed.
An estimated 6.8 million people give blood each year in the US. On the other hand, chronic diseases are becoming more common in this area over time. For instance, according to the International Agency for Research on Cancer Society, there were 2.28 million new cases of cancer in the United States in 2020, and 3.12 million cases are anticipated by the year 2040. Due to the presence of all market-driving elements in North America, the area is consequently anticipated to see lucrative development in the future.
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