PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1477171
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1477171
Blood Processing Devices and Consumables Market size was valued at USD 44,243.23 Million in 2023, expanding at a CAGR of 7.5% from 2024 to 2032.
The Blood Processing Devices and Consumables Market comprises equipment and consumables used in the collection, processing, and storage of blood and blood components for transfusion and therapeutic purposes. Recent trends in the Blood Processing Devices and Consumables Market indicate a growing demand for advanced automation and technology integration to streamline blood processing workflows and improve efficiency. However, the market also faces restraints such as stringent regulatory requirements, high initial investment costs associated with advanced blood processing equipment, and concerns regarding blood safety and quality control. Furthermore, expanding applications of blood processing technologies in emerging fields such as cell therapy, regenerative medicine, and personalized medicine are generating opportunities for the market.
Blood Processing Devices and Consumables Market- Market Dynamics
Government initiatives to boost blood and plasma donations are influencing the blood processing devices and consumables market
Heightened governmental efforts to promote blood and plasma donations are anticipated to drive the demand for blood processing devices and consumables used in their storage. For instance, in August 2022, the U.S. Department of Health and Human Services (HHS) launched the Giving = Living campaign. This initiative aims to raise awareness about the significance of donating blood and plasma, urging individuals in the U.S. to adopt regular donation habits. As a result, the demand for blood storage devices and consumables is expected to rise steadily, supporting the expansion of the market.
Blood Processing Devices and Consumables Market- Key Insights
As per the analysis shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 7.5% over the forecast period (2024-2032)
Based on Devices segmentation, Blood Bank Refrigerators was predicted to show maximum market share in the year 2023
Based on Consumables segmentation, Blood Collection Tube was the leading type in 2023
Based on End-User segmentation, Hospitals & Clinics was the leading type in 2023
Based on region, North America was the leading revenue generator in 2023
The Global Blood Processing Devices and Consumables Market is segmented based on Devices, Consumables, End-User, and Region.
The market is divided into three categories based on Devices: Plasma freezers are specialized refrigeration units designed to store plasma at ultra-low temperatures to maintain its integrity and viability. Blood bank refrigerators equipped with precise temperature control systems for storing blood and blood products in blood banks and healthcare facilities.
The market is divided into five categories based on Consumables: Blood administration sets of tubing and connectors used to deliver blood and blood products from storage bags to patients during transfusion. Blood bags are designed for collecting, storing, and transporting blood and blood components safely. Blood filters are used to remove impurities or particles from blood products during processing or transfusion.
Blood Processing Devices and Consumables Market- Geographical Insights
Geographically, this market is widespread in the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided as per the nations bringing business.
North America dominates the market due to its well-established healthcare infrastructure, high prevalence of chronic diseases, and strong adoption of advanced blood processing technologies. In Europe, stringent regulatory standards and increasing investments in healthcare drive market growth, while the Asia Pacific region is witnessing rapid expansion propelled by rising healthcare expenditure, growing awareness about blood safety, and improving healthcare infrastructure. Additionally, the Middle East and Africa show promising growth opportunities, driven by government initiatives to enhance blood transfusion services and improve healthcare access.
Major companies such as Terumo Corporation, Haemonetics Corporation, and Fresenius SE & Co. KGaA hold significant market shares owing to their extensive product portfolios, robust distribution networks, and strategic acquisitions. These industry leaders often focus on innovation and product development to stay ahead in the market, offering advanced blood processing devices and consumables that adhere to stringent regulatory standards and address evolving customer needs.
In May 2022, Vitestro launched an advanced autonomous blood-drawing device. The new device combines artificial intelligence (AI) and ultrasound-guided 3D reconstruction with robotic needle insertion to ensure the precise and secure collection of blood.
GLOBAL BLOOD PROCESSING DEVICES AND CONSUMABLES MARKET KEY PLAYERS- DETAILED COMPETITIVE INSIGHTS
Abbott Laboratories
Beckman Coulter, Inc.
Becton, Dickinson and Company
BioMerieux SA (Institut Merieux)
Bio-Rad Laboratories, Inc.
Danaher Corporation
Global Scientific Company
Grifols, S.A.
Haemonetics Corporation
Immucor, Inc.
Maco Pharma International GmbH
Poly Medicure Ltd
Roche Holding AG
Sigma Laborzentrifugen GmbH
Terumo Corporation
Thermo Fisher Scientific, Inc.
Thermogenesis Holdings, Inc.
Others