Global Autotransfusion Devices Market

Global Autotransfusion Devices Market (by Type, Application, End User & Region): Insights and Forecast with Potential Impact of COVID-19 (2022-2027)

Market Insight:

Autotransfusion devices are used in medical procedures where the patient's own blood is reintroduced into the body following normal filtration. To put it another way, the patient turns into their own blood benefactor. It is easy to use and removes the infection before the blood is transfused back into the patient’s body.

These devices are commonly used in surgical procedures such as cardiac surgery, organ transplantation and other invasive procedures in which there is excessive blood loss. Factors that are contributing to the growth of the market are an increase in accidents, less availability of patients with rare blood group and high bleeding surgeries. The global autotransfusion devices market is foreseen to reach US$1.15 billion in 2023, growing at a CAGR of 5.78% during the forecasted period.

Segment Covered:

• By Type: The global autotransfusion devices market can be divided into two segments based on types: Product and Accessories. The products are further segmented into intraoperative, postoperative and dual mode. The intraoperative segment lead the autotransfusion product market, accounted for the highest share. Intraoperative Product is more thriving in the autotransfusion devices market because they usually helped in open heart surgeries, where blood loss is very high and being an important organ, the blood transfusion needs to be quick to restore the patient’s blood loss.
• By Application: In terms of application, the report includes the segmentation into four categories namely Cardiac Surgeries, Orthopedic Surgeries, Trauma Procedures, and Others. Cardiac Surgeries held the maximum share in the autotransfusion devices market. The incidence of cardiac surgeries has increased in the past few years due to the increasing aging population and the rise in diabetic patients. Rise in smoking, high blood pressure, stress, etc. all lead to increase in the global cardiac surgeries autotransfusion devices market.
• By End User: The report provides the bifurcation of the autotransfusion devices market into three segments based on end user: Hospital, Ambulatory Surgery Center and Speciality Clinics. The hospitals segment held the largest share of the global autotransfusion devices market. In hospitals, many patients walk in for diagnostics and a large number of patients are admitted for surgical procedures. As a result, hospitals currently hold a sizeable share in the market of autotransfusion devices, and this trend is anticipated to persist over the forecast period.

Geographic Coverage:

• According to this report, the global autotransfusion devices market is divided into four regions: North America, Europe, Asia Pacific, and rest of the world. The countries covered in North America region include US, Canada, and Mexico, while Europe includes Germany, France, UK, Italy, Spain, and Rest of Europe. Moreover, China, Japan, India, South Korea, Australia, and the Rest of the Asia Pacific are included in the Asia Pacific region.

North America dominated the market with largest share of the global market. Factors such as the increasing prevalence of cancer in the US and Canada, rising number of patients suffering from cardiovascular, orthopedic diseases, an increase in the geriatric population, and surging cases of organs transplantation are the key factors driving the North America autotransfusion device market growth. Asia Pacific is anticipated to grow at the highest CAGR during the forecast period. Various government initiatives have helped in building necessary healthcare infrastructure, empowering healthcare providers and patients to opt for surgeries, hence boosting the demand for autotransfusion devices in the region.

Top Impacting Factors:

Growth Drivers

Increasing Healthcare Spending

• High Bleeding Surgeries
• Increasing Accident Cases
• Less Availability of Rare Blood Group

Challenges

• High Cost Involved
• Removal of Beneficial Components from Blood

Trends

• Increasing Market Consolidation
• Technological Developments
• Driver: Increasing Accident Cases

The victims of automobile accidents, their families, and entire nations suffer severe economic losses. These expenses are brought on by the cost of medical care, the loss of wages for those who pass away or become disabled as a result of their injuries, and the cost of caring for loved ones who must take time off from their jobs or studies to tend to the injured. Usually accident cases need urgent medical attention because of heavy blood loss and sometimes the blood of some particular type is not available in the blood bank of hospital. So the patient can get quick blood via autotransfusion device as the there is no need to wait for blood donor. So, the autotransfusion devices is anticipated to be in demand as the number of accidents rises.

• Challenge: Removal of Beneficial Components from Blood

Blood is a vital thing for human survival, any kind of blood transfusion is a risky procedure as maintaining blood composition after transfusing in patient’s blood circulation is quite challenging. Another big concern is that these machines cannot extract pollutants from blood without removing and discarding blood constituents other than red blood cells.. This method may not be able to separate the undesirable stuff from the blood in some situations, and if operating mistakes or misuse occur, the machine may cause significant issues in the patient's body. Platelets and proteins such as clotting factors and albumin are among the helpful blood constituents that are eliminated. When blood loss is substantial, the removal of these components from blood might cause organ failure. As a result, the growth of autotransfusion devices may be slowed.

• Trend: Increasing Market Consolidation

The consolidation phase is a stage in the industry life cycle where competitors in the industry start to merge. Companies would seek to consolidate to gain a larger portion of the overall market share and to take advantage of synergies. An increase in market size also provides an opportunity to expand the company's business line, which can lead to increased sales and profits as well. Therefore, the growing consolidation in the industry is expected to provide lucrative benefits and opportunities to the market leader in the coming years. Furthermore, several corporations used strategic actions such as acquisitions, partnerships, and others to gain market share. Medtronic, for example, bought AV Medical Technologies in October 2019. Getinge acquired Applikon Biotechnology in December 2019, which is the supplier of innovative bioreactor systems from the laboratory to the industrial scale. As a result, such improvements are anticipated to usher in new trends in the autotransfusion devices market in the future.

The COVID-19 Analysis:

The COVID-19 was reported as an infectious disease with a high mortality rate, and which restricts blood donation activities and make it worse for rare blood group patients. Surgeries like renal surgery, cardiovascular surgery, cancer treatment surgery were cancelled or delayed in fear of COVID-19 infection. As a result, COVID-19 had a short-term detrimental impact on the autotransfusion devices market. After the vaccination schedule was established and the rate of transmission was reduced, healthcare systems were restored to normal. Health care sector are increasingly integrating artificial intelligence to solve the post COVID-19 challenges. Growing aesthetics awareness, increased surgical adoption, and increased affordability of advanced treatments are expected to drive the growth of the autotransfusion devices market in the post-COVID period.

Analysis of Key Players:

The global autotransfusion device market is fragmented, with many players holding trivial market share. The key players of the globa autotransfusion device market are:

• Becton, Dickinson & Company
• Fresenius SE & Co.KGaA
• Medtronic PLC
• Zimmer Biomet Holdings Inc.
• Stryker Corporation
• LivaNova PLC
• Braile Biomedica
• ProCell Surgical Inc.
• Haemonetic Corporation
• SARSTEDT AG and Co.KG
• Teleflex Incorporated
• Getinge (Atrium Medical Corporation)

Some of the strategies among key players in the autotransfusion devices market are partnerships, mergers, acquisitions, and collaborations. For Instance, Zimmer Biomet acquired A&E Medical Corporation for US$150 million in cash at closing and US$100 million in cash payable in 2021. As per the terms of the acquisition, Zimmer Biomet acquired A&E Medical and its complete portfolio of sternal closure devices – including sternal sutures, cable systems, and rigid fixation. In October 2019, Medtronics Acquired AV Medical Technologies that operates as a medical device company. Similarly, Getinge acquired Applikon Biotechnology, which deals in developing and supplying advanced bioreactor systems from laboratory scale to production scale in December 2019.