Market Size of Auto-transfusion Systems Industry
| Study Period | 2021 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| CAGR | 5.20 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Auto-transfusion Systems Market Analysis
The auto-transfusion Systems market is projected to grow with a CAGR of 5.2% over the forecast period.
COVID-19 had a significant impact on the growth of the market during the pandemic period due to the reduction of surgical procedures. This was mainly due to the temporary suspension and postponement of non-elective surgeries due to the lockdown restriction by various governments across the world. These scenarios during the initial phase of the pandemic impacted the demand for auto-transfusion systems, thereby impacting the market's growth. However, the resumption of surgeries after the relaxation of regulations led to the growing demand for autotransfusion systems, and the current market scenario is expected to drive the growth of the market over the forecast period.
The major factor attributing to the growth of the market is the increase in the number of surgical procedures which can be attributed to the growing prevalence of chronic disease and lifestyle diseases. For instance, as per a report published by Moncloa Palace in May 2022, about 4,781 transplants were performed in Spain in 2021, an increase of 8% compared to transplant activity in the previous year. Moreover, as per the NFHS statistics released in November 2021, in India, 3.2% of births were delivered by cesarean section in urban areas, while 17.6% of births were delivered by cesarean section in rural areas till 2021. Such high surgical volume is expected to drive the demand for autotransfusion systems, thereby contributing to the growth of the market. Furthermore, the scarcity of donated blood or allogeneic blood is also boosting the market's growth owing to the extensive use of autotransfusion systems as they are highly useful in the purification of a patient's blood. For instance, according to the data published by the American Red Cross Society in January 2022, the red cross has experienced a 10% decline in the number of people donating blood since the beginning of the pandemic.
Additionally, the market player's initiatives such as partnerships, and collaborations to develop autotransfusion systems and provide safe and effective auto-transfusion systems are also expected to contribute to the growth of the market over the forecast period. For instance, in May 2022, Vetellus Specialities Ltd signed a five-year agreement with Euroset s.r.l, manufacturer of autotransfusion devices. The deal includes the supply of Vertullus PC technology coating to Eurosets for the application of equipment used in cardiopulmonary bypass surgery devices and others. Thus, the above-mentioned factors such as the high volume of surgeries, scarcity of donated blood or allogenic blood, and rising product approvals are expected to drive the growth of the market during the forecast period. However, the high cost of the auto-transfusion devices and the risk associated with the procedure are expected to restrain the market growth over the forecast period.
