Global Blood Bags Market Size

Blood Bags Market Analysis

The blood bags market is expected to register a CAGR of 10.8% over the forecast period, 2022-2027.

During the COVID-19 public health emergency, the demand for blood bags has increased subsequently. Many individuals with weak immune systems have been infected by COVID-19 and hospitalized and may require a blood transfusion due to COVID-19. As a result, the demand for blood bags and equipment has risen during COVID-19, following the pandemic. Many governments have also taken the initiative to help increase blood donation. For instance, in June 2020, the Maharashtra state government in India used social media initiatives to increase the number of blood donations. The move was taken following the shortage of blood in the region. Such programs have positively impacted the global blood bags market growth in many regions during the pandemic. As a result, the demand for blood bags has increased during COVID-19. In turn, aiding the overall market growth during the forecast period.

Road accidents are expected to be one of the major driving factors for the growth of the blood bag market as these accidents require immediate medical assistance including blood transfusion thus, a high number of road accidents are expected to play a crucial role in the demand for blood bags. For instance, according to the June 2021 update of the World Health Organization, about 1.3 million people die every year due to road traffic accidents and about 20 to 50 million people suffer from non-fatal injuries, with many incurring disabilities owing to the injury. Further, as per the same source, even though low- and middle-income countries have about 60% of the world's vehicles, these countries account for 93% of all the deaths due to road accidents and thus, it is expected that owing to a high number of road accidents, there is expected to be a high demand of the blood bags and thus, studied market is expected to grow.

Additionally, blood bags have also witnessed a great demand due to an increased number of patients suffering from various ailments related to blood, kidney, metabolic diseases, and neurological disorders. Cancers such as leukemia, lymphoma, myeloma, and myelodysplastic syndromes (MDS) can affect the bone marrow, blood cells, lymph nodes, and other parts of the lymphatic system. It has been observed that apheresis technology has been used to reduce the number of white cells until other medications can control them. For instance, in August 2021, according to the Leukemia and Lymphoma Society (LLS) Factsheet, approximately every three minutes, one person in the United States is diagnosed with blood cancer. Moreover, as per the same source, 186,400 people in the United States has diagnosed with leukemia and lymphoma in 2021. In addition, 825,651 people lived with lymphoma in the United States, 152,671 people resided with Hodgkin lymphoma, and 672,980 people lived with non-Hodgkin lymphoma. Thus, rising cases of blood cancers are further fueling the growth of the target market.

Moreover, the rising numbers of hospitals, blood banks, and other healthcare centers are driving the growth of the blood bags market, worldwide. The growing awareness about blood donation among citizens is also propelling the demand for blood bags, worldwide. However, the hazardous waste created by the excessive usage of blood bags is hampering the growth of the blood bag market.