What Has Been The Evolution of the Blood Transfusion Devices Market in Recent Years?
The blood transfusion devices market has seen considerable growth due to a variety of factors.
• The market for blood transfusion devices has seen robust expansion in recent years. It's projected to increase from $5.09 billion in 2024 to $5.45 billion in 2025, with a compound annual growth rate (CAGR) of 7.1%.
The growth witnessed in the historic period is largely due to the increasing presence of chronic diseases that necessitate blood transfusions, the surge in worldwide surgical procedures that call for blood transfusions, heightened knowledge about the significance of blood donations, the spiraling demand for sophisticated blood transfusion devices in emergency care, and the escalating adoption of automated systems for blood collection.
What Are the Future Growth Projections for the Blood Transfusion Devices Market?
The blood transfusion devices market is expected to maintain its strong growth trajectory in upcoming years.
• The market for blood transfusion devices is set for sturdy growth in the coming years, with projections estimating a value of $7.09 billion by 2029, increasing at a compound annual growth rate (CAGR) of 6.8%.
Factors contributing to this surge during the forecast period include the escalating need for blood transfusion devices caused by an aging populace, heightened emphasis on bolstering blood safety via cutting-edge screening technologies, swelling investment in the creation of next-gen transfusion devices, ballooning healthcare spending in emergent markets fostering device adoption, as well as proliferating government programs encouraging blood donation and secure transfusion procedures. The forecast period also foresees prominent trends such as technological improvement in blood transfusion devices that heightens efficiency and safety, the climbing incorporation of AI and IoT into transfusion devices for enhanced monitoring and management, the increasing uptake of portable blood transfusion devices for distanced and crisis situations, a growing bias for minimally invasive transfusion methods and a widening of blood transfusion services in regions with fewer resources, all of which are set to stimulate market growth.
What Are The Core Factors Supporting Growth In The Blood Transfusion Devices Market?
The surge in accidents and trauma incidents is anticipated to drive the expansion of the blood transfusion devices market. The escalating rates of trauma and accidents are attributed to the rise in urbanization, increased use of vehicles, and risky road situations. In such emergencies, blood transfusion devices play a crucial role in quickly providing vital blood supplies to stabilize patients and control severe bleeding. For example, data from the National Safety Council (NSC) Injury Facts, a safety organization based in the US, indicated that in July 2024, there were approximately 20,900 motor-vehicle fatalities in the US, a figure nearly unchanged from the 20,930 of the same period in 2023, although there was a mileage increase of 0.8% from 2023 and a 3.1% increase from 2022. Therefore, the growing number of accidents and trauma cases provide impetus to the growth of the blood transfusion devices market.
What Are The Major Segments Within The Global Blood Transfusion Devices Market?
The blood transfusion devicesmarket covered in this report is segmented –
1) By Product Type: Pathogen Reduction System, Apheresis Devices, Blood Component Separator, Blood Bag And Accessory, Venous Access Devices, Other Product Types
2) By Application: Cardiovascular Surgeries, Orthopedic Surgeries, Neurological Surgeries, Obstetrics And Gynecological Surgeries, Other Applications
3) By End User: Hospital, Ambulatory Surgical Centers, Blood Bank, Other End Users
Subsegments:
1) By Pathogen Reduction System: Plasma Pathogen Reduction Devices, Platelet Pathogen Reduction Devices
2) By Apheresis Devices: Plasma Apheresis Devices, Platelet Apheresis Devices, Red Blood Cell Apheresis Devices
3) By Blood Component Separator: Automated Blood Component Separators, Manual Blood Component Separators
4) By Blood Bag and Accessory: Single Blood Bags, Double Blood Bags, Triple Blood Bags, Quadruple Blood Bags, Blood Bag Tubing and Clamps
5) By Venous Access Devices: Peripheral Venous Catheters, Central Venous Catheters, Peripherally Inserted Central Catheters (PICCs), Implantable Ports
6) By Other Product Types: Blood Warmers, Blood Mixers, Blood Transfusion Sets and Filters, Blood Storage And Refrigeration Systems
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Which Emerging Market Trends Are Altering The Blood Transfusion Devices Industry?
Focusing on the creation of advanced blood grouping and testing solutions, major firms in the blood transfusion devices market are strategizing to obtain an upper hand. These medical tools and reagents are vital in identifying an individual's blood type, as well as in ensuring transfusion compatibility. For example, Innobiochips, a biopharmaceutical corporation located in France, debuted Omnys, a novel blood transfusion device, in June 2024. This device, tailor-made for transfusion purposes, boosts lab productivity and precision via multiplex analyses. It enables detailed testing of blood components such as standard ABO/D type and extended phenotyping. By integrating a variety of technologies, Omnys simplifies the blood testing procedure, drastically limiting the amount of needed testing wells and reducing waste.
Who Are the Key Players In The Blood Transfusion Devices Market?
Major companies operating in the blood transfusion devices market are:
• Fresenius Kabi AG
• Becton Dickinson and Company
• Baxter International Inc.
• Medline Industries LP
• Grifols SA
• Terumo Corporation
• Bio-Rad Laboratories Inc
• LivaNova PLC
• Haemonetics Corporation
• Sarstedt AG & Co KG
• STRATEC Biomedical AG
• Cerus Corporation
• Charter Medical Ltd
• Kawasumi Laboratories Inc.
• Macopharma SA
• GenesisBPS Inc.
• Mediware Information Systems Inc.
• EryPharm
• Glycorex Transplantation AB
• Werfen S.A.
What Is The Most Dominant Region In The Blood Transfusion Devices Market?
North America was the largest region in the blood transfusion devices market in 2024. The regions covered in the blood transfusion devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
