Global Blood Processing Devices and Consumables Market 2023-2030

Global Blood Processing Devices and Consumables Market 2023-2030

Global Blood Processing Devices and Consumables Market Size, Share & Trends Analysis Report by Blood Processing Devices (Blood Bank Freezers, Blood Warmers, Blood Grouping Analyzers, Blood Bank Refrigerators, Hematocrit Centrifuges and Blood Cell Processors), and by Consumables (Blood Lancets, Vials, Microscopic Slides, Blood Bags, Blood Administration Sets, and Others), Forecast Period (2023-2030)

The global blood processing devices and consumables market is anticipated to grow at a CAGR of 9.2% during the forecast period (2023-2030) owing to the rise burden of disorders requiring blood transfusion, increasing surgical procedures, as well as increasing geriatric population. The rising need for safe blood supply for surgeries or other transfusion procedures is shows market growth. To overcome the infections caused due to blood transfusions and blood donation, several blood processing machines and blood processing consumables are utilized to prevent infection.

Segmental Outlook

The global blood processing devices and consumables market is segmented by the blood processing devices, and consumables. Based on the blood processing devices, the market is sub-segmented into blood bank freezers, blood warmers, blood grouping analyzers, blood bank refrigerators, hematocrit centrifuges and blood cell processors. Further, based on consumables, the market is sub-segmented into blood lancets, vials, microscopic slides, blood bags, blood administration sets, and others. Among the consumables, the blood bags sub-segment is anticipated to hold a considerable share of the market due to rising numbers of hospitals, blood banks, and other healthcare centers. Furthermore, the growing awareness about blood donation among citizens is also propelling the demand for blood bags, globally.

Blood Cell Processors Sub-Segment is Anticipated to Hold a Considerable Share of the Global Blood Processing Devices and Consumables Market

Among the blood processing devices, the blood cell processors sub-segment is expected to hold a considerable share of the global Blood Processing Devices and Consumables market. Blood cell processors is one of the precious lifesaving procedures in the field of transfusion medicine. Blood cell processors employs centrifuge-based technology to separate the whole blood into its major components. Blood cell processors provide an option to labor-intensive techniques for separating cell products, such as manually layering blood over a density gradient separation medium using conical tubes. Blood cell processors are used in blood banks, transfusion laboratories, cellular therapy laboratories, and manufacturing facilities. Increasing number of blood donations as well as the introduction of new products by the market players are major factors fueling the growth of the segment. According to WHO, around 118.5 million units of donated blood are collected globally every year, although more units would need to be collected to meet the needs of transfusion of all the patients in the globally. An increase of 10.7 million blood donations from voluntary unpaid donors has been reported from 2008 to 2018.

Regional Outlook

The global blood processing devices and consumables market is further segmented based on geography including North America (the US, and Canada), Europe (UK, Italy, Spain, Germany, France, and the Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, and Rest of Asia), and the Rest of the World (the Middle East & Africa, and Latin America. Among these, Asia-Pacific is anticipated to hold a prominent share of the market across the globe, owing to increasing healthcare expenditure and government initiatives to improve healthcare infrastructure in countries such as China and India drive the adoption of advanced blood processing technologies and consumables.

The North America Region is Expected to Grow at a Significant CAGR in the Global Blood Processing Devices and Consumables Market

Among all regions, the North America regions is anticipated to grow at a considerable CAGR over the forecast period due to the rising cases blood cancer and presence of several organizations engaged in the distribution of blood components that arises the need for blood processing. Bone marrow, blood cells, lymph nodes, and other lymphatic system components can all be impacted by cancers such as leukemia, lymphoma, myeloma, and myelodysplastic syndromes (MDS). Apheresis technology has apparently been utilized to lower the white cell count until other drugs are able to regulate it.

According to the Leukemia and Lymphoma Society (LLS), approximately every three minutes, one person in the US is diagnosed with blood cancer in 2021. Approximately every 9 minutes, someone in the US dies from a blood cancer. Moreover, organizations in the region are engaged in growing awareness about blood donation among citizens is also propelling the demand for blood processing devices and consumables market. Each year, an estimated 6.8 million people in the U.S. donate blood and 13.6 million units of whole blood and red blood cells are collected in the U.S. in a year.

Market Players Outlook

The major companies serving the global blood processing devices and consumables market include Abbott Laboratories, Bio-Rad Laboratories, Inc., Becton, Dickinson and Company, and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers and acquisitions, partnerships, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in July 2021, BD (Becton, Dickinson and Company), acquired Velano Vascular. The Velano Vascular acquisition is in line with BD's growth strategy to enter new categories that deal with unmet needs and have a more positive impact on patients and health systems. Velano Vascular offers an innovative, needle-free technology that enables high-quality blood drawn from existing peripheral intravenous catheter (PIVC) lines, BD can now enable health care providers to help eliminate multiple needlesticks for blood sample collection, reducing the pain and discomfort from the process while delivering quality outcomes

The Report Covers

Market value data analysis of 2022 and forecast to 2030.

Annualized market revenues ($ million) for each market segment.

Country-wise analysis of major geographical regions.

Key companies operating in the global blood processing devices and consumables market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.

Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.

Analysis of market-entry and market expansion strategies.

Competitive strategies by identifying ‘who-stands-where’ in the market.