PUBLISHER: The Business Research Company | PRODUCT CODE: 1619465
PUBLISHER: The Business Research Company | PRODUCT CODE: 1619465
Blood transfusion devices are medical instruments used to safely and efficiently transfer blood or blood components-such as red blood cells, plasma, or platelets-from a donor to a recipient. These devices are essential in various medical contexts, including surgeries, trauma care, and the treatment of conditions like anemia or clotting disorders.
The main types of blood transfusion devices include pathogen reduction systems, apheresis devices, blood component separators, blood bags and accessories, venous access devices, and others. A pathogen reduction system is a technology designed to reduce or eliminate pathogens from blood products, ensuring safety during transfusions. These devices are used in applications such as cardiovascular, orthopedic, neurological, and obstetric and gynecological surgeries, and are utilized by hospitals, ambulatory surgical centers, blood banks, and other medical facilities.
The blood transfusion devices market research report is one of a series of new reports from The Business Research Company that provides blood transfusion devices market statistics, including blood transfusion devices industry global market size, regional shares, competitors with a blood transfusion devices market share, detailed blood transfusion devices market segments, market trends and opportunities, and any further data you may need to thrive in the blood transfusion devices industry. This blood transfusion devices market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The blood transfusion devices market size has grown strongly in recent years. It will grow from $4.77 billion in 2023 to $5.09 billion in 2024 at a compound annual growth rate (CAGR) of 6.8%. The growth during the historic period can be attributed to the increasing prevalence of chronic diseases requiring blood transfusions, a rise in global surgical procedures necessitating blood transfusions, growing awareness of the life-saving impact of blood donation, a higher demand for advanced blood transfusion devices in emergency care, and the increasing adoption of automated blood collection systems.
The blood transfusion devices market size is expected to see strong growth in the next few years. It will grow to $6.65 billion in 2028 at a compound annual growth rate (CAGR) of 6.9%. The growth projected for the forecast period can be attributed to the increasing demand for blood transfusion devices driven by an aging population, a growing focus on enhancing blood safety through advanced screening technologies, rising investments in next-generation transfusion devices, increased healthcare expenditure in emerging markets boosting device adoption, and expanding government initiatives to promote blood donation and safe transfusion practices. Key trends expected include technological advancements that enhance the efficiency and safety of blood transfusion devices, greater integration of AI and IoT for improved monitoring and control, a rise in the adoption of portable blood transfusion devices for remote and emergency use, a growing preference for minimally invasive transfusion techniques, and the expansion of blood transfusion services in low-resource regions.
The rise in accidents and trauma cases is expected to drive the growth of the blood transfusion devices market in the coming years. Urbanization, increased vehicle usage, and unsafe road conditions are contributing to the growing number of accidents and trauma incidents. Blood transfusion devices play a critical role in these situations by enabling the rapid delivery of life-saving blood products to stabilize patients and manage severe bleeding. For example, in July 2024, data from the National Safety Council (NSC) Injury Facts revealed that motor vehicle fatalities in the US reached 20,900 during the first half of 2024, remaining almost unchanged from 20,930 in the same period of 2023, despite a 0.8% increase in mileage from 2023 and a 3.1% rise from 2022. Consequently, the increase in accidents and trauma cases is fueling the expansion of the blood transfusion devices market.
Key players in the blood transfusion devices market are focusing on developing advanced blood grouping and testing technologies to gain a competitive edge. These technologies are used to determine blood types and ensure compatibility for transfusions. For example, in June 2024, Innobiochips, a France-based biopharmaceutical company, introduced Omnys, an advanced blood transfusion device. Omnys is designed to improve laboratory productivity and accuracy through multiplex analysis, offering high-resolution testing of blood components, including ABO/D typing and extended phenotyping. The device incorporates various technologies to streamline the testing process, reducing the number of wells required and minimizing waste.
In March 2023, Werfen S.A., a Spain-based biomaterials manufacturer, acquired Immucor Inc. for $2 billion. This acquisition strengthens Werfen's position in the transfusion and transplant sectors and enhances its existing portfolio in hemostasis, acute care, and autoimmunity. Immucor Inc., a US-based company, specializes in blood transfusion devices.
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.
North America was the largest region in the blood transfusion devices market in 2023. The regions covered in the blood transfusion devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the blood transfusion devices market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The blood transfusion devices market consists of sales of blood warmers, needles, catheters, and filters. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Blood Transfusion Devices Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on blood transfusion devices market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for blood transfusion devices ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The blood transfusion devices market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.