Blood Bags Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2020 - 2026
Report ID: GMI2846
Global Blood Bags Market size is projected to experience significant growth from 2018 to 2024.
Increasing geriatric population in the Europe will serve to be a high impact rendering factor for blood bags market. As per UN statistics, currently Europe has high number of people living above 60 years of age, approximately 25 percent and is expected to reach 35 percent of the total European population by 2050. Geriatric population is more susceptible to chronic diseases such as cancer and demand surgical procedures will upsurge the demand for blood bags.
Increasing number of healthcare centers including hospitals, clinics, ambulatory surgical centers will serve to be a high impact rendering factor. According to American Hospital Association (AHA), number of urban community hospitals increased from 3,019 to 3,033 between 2014 to 2017. Increasing awareness levels pertaining to need for remaining healthy and fit, various disorders and procedures will augment the blood bags industry growth over the estimated forecast.
The hazardous waste created by the excessive usage of blood bags will restrain the industry growth. Regulations set on reducing the biohazardous waste may have an impact over the industry growth.
Single collection blood bags will grow enormously with a considerable growth rate. Extensive use of single blood bags for treating the pediatric disorders coupled with additional storage benefits offered by the bags will create a hike in the demand for single collection bags over the estimated forecast.
Hospitals segment will witness high growth over the estimated timeframe owing to increasing number of surgical procedures that require blood supply in large amounts. In U.S. alone, 48 million surgeries were performed in the hospitals and majority of them required enormous amount of blood supply that will augment the blood bags industry growth.
India blood bags market should experience high growth in the forthcoming years as a result of increasing prevalence of chronic infections such as AIDS, cancer and other viral infections. According to UNAIDS, in 2016, 80,000 people were infected with AIDS in India that will trigger demand for blood bags and thereby will escalate the industry growth.
Key players include B.Braun, Coloplast, Grifols, Fresenius Kabi, HLL Lifecare, Innvol, Macopharma, Poly, Medicure, Terumo PENPOL and others. Prominent industry players operating in blood bags industry have adopted various strategic initiatives to sustain the market competition. For instance, Terumo Corporation has developed superior quality new TERUFLEX blood bags that are durable. Development of product portfolio will aid revenue generation for the company.
Blood Bags Market by Product Type, 2013-2024 (USD Million)
- Single collection bags
- Double collection bags
- Triple collection bags
Blood Bags Market by End-user, 2013-2024 (USD Million)
- Blood banks
- Non-governmental organizations
The above information is provided for the following regions and countries:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
- Saudi Arabia
- South Africa
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