PUBLISHER: Prescient & Strategic Intelligence | PRODUCT CODE: 1635116
PUBLISHER: Prescient & Strategic Intelligence | PRODUCT CODE: 1635116
The global disposable plastic blood bags market is projected to grow from $433.1 million in 2024 to $580.2 million by 2030, reflecting a compound annual growth rate (CAGR) of 5.1% during the forecast period.
This growth is driven by the rising prevalence of chronic diseases and an aging population, leading to an increased demand for blood and blood components. Disposable plastic blood bags are essential for the collection, storage, and transfusion of blood and its components, such as red blood cells, white blood cells, platelets, plasma, and cryoprecipitate, which are vital in treating various medical conditions.
Key Insights
Single disposable plastic blood bags dominate the market, accounting for 80% revenue share. These bags are widely used in hospitals, NGOs, blood banks, and other healthcare settings for blood collection and transfusion, owing to their high-quality polyethylene construction and heat-resistant properties.
Hospitals represent the largest end-user segment, utilizing disposable plastic blood bags extensively for various medical procedures, including surgeries and emergency care, where blood transfusions are critical.
The tender sales distribution channel holds a significant share in the market, as bulk purchasing by hospitals and blood banks through tenders ensures a consistent supply of blood bags at competitive prices.
North America leads the market, driven by a well-established healthcare infrastructure, high awareness of blood donation, and advanced medical practices. However, the Asia-Pacific region is expected to witness the fastest growth during the forecast period, attributed to increasing government initiatives promoting blood donation, rising healthcare expenditure, and improving healthcare facilities.
The market is fragmented, with numerous players offering a variety of disposable plastic blood bags to cater to diverse healthcare needs. This competitive environment fosters innovation and ensures the availability of high-quality products.
Technological advancements, such as the integration of RFID technology in blood bags, are enhancing traceability and safety in blood transfusion processes, thereby driving market growth.
Government initiatives and awareness campaigns promoting voluntary blood donation are contributing to the increased demand for disposable plastic blood bags, as safe and adequate blood supply becomes a public health priority.
The rising incidence of severe accidents and major injuries globally necessitates prompt blood transfusions, further propelling the demand for disposable plastic blood bags in emergency medical services.