|Fastest Growing Market:||Asia-Pacific|
|Largest Market:||North America|
Need a report that reflects how COVID-19 has impacted this market and its growth?
The disposable blood bags market is expected to register a CAGR of 4.5% during the forecast period.
In the current COVID-19 circumstances, passive immunotherapy using whole blood or plasma from recovered patients has become a potential therapeutic strategy for infections. The concept of transfusing neutralizing antibodies through convalescent blood is a rapidly adopted strategy among hospitals, worldwide. Thus, due to the rapid adoption of passive immunotherapy using blood and plasma, these blood bags are increasingly being used in storing and transferring blood during plasma therapy, propelling the market growth.
The global disposable blood bag market is primarily driven by the rising burden of fatal accidents and the wide presence of trauma and serious injuries, worldwide. According to the World Health Organization, in April 2021, more than 1.3 million people die every year because of road traffic crashes and accidents. Road traffic injuries are the leading cause of death among people aged between 15 and 29 years. Moreover, between 20 and 50 million people suffer non-fatal injuries, with many incurring a disability because of their injury. These serious injuries are often accompanied by blood collection and transfusion activities during surgical procedures to treat fatal injuries. Hence, the growing burden of surgical procedures may increase the procurement rate of disposable blood bags, driving the market growth.
The increasing prevalence of blood-related and other chronic diseases, coupled with the number of government initiatives to promote blood donation, blood collection, and storage, are expected to drive the industry during the forecast period. For instance, according to the World Federation Hemophilia, 2019 report, more than 20,000 people with hemophilia are born each year with hemophilia, worldwide, of which about 7,000 are severe.
Additionally, as per the Government of Canada Statistics report, as of July 2020, the Canadian elderly population was 6,835,866, which accounted for 17.5% of the Canadian population. The proportion of seniors in Canada has been increasing over time who are more prone to cardiovascular diseases. Thus, this is expected to fuel the number of surgical procedures, which is anticipated to increase the demand for disposable blood bags. However, high risk associated with blood donation and transfusion is anticipated to restrain the market growth.
Scope of the Report
As per the scope of the report, disposable blood bags are disposable bio-medical devices used for the collection, storage, transportation, and transfusion of blood and blood components. The disposable blood bags market is segmented by type of bag (blood collection bags and blood transfusion bags), end user (blood banks, hospitals, and non-government organization and others), and geography (North America, Europe, Asia Pacific, Middle-East and Africa, and South America). The market report also covers the estimated market sizes and trends for 17 different countries across major regions, globally. The report offers the value (in USD million) for the above segments.
|By Type of Bag|
|Blood Transfusion Bags|
|By End User|
|Non-Government Organization and Others|
Key Market Trends
Blood Transfusion Bag is Expected to Hold the Significant Market Share
By type of blood, the blood transfusion bag is anticipated to hold a significant market share. Blood transfusion bags are used to transfer blood products into one's circulation intravenously. The blood transfusion process is used for various medical conditions to replace lost components of the blood.
The increasing burden of several chronic diseases and infectious diseases, coupled with growing surgical procedures, is anticipated to fuel the demand for blood transfusion bags. According to the American National Red Cross, nearly around 21 million blood components are transfused each year in the United States.
Additionally, according to the statistics published in World Health Organization (WHO), in 2020, over 118.5 million blood donations are collected for blood transfusion to diseased patients. Globally, 40% of these are collected in high-income countries, which is home to 16% of the world’s population. As per the WHO, an increase of 7.8 million blood donations from voluntary unpaid donors has been reported from 2013 to 2018. This increase in awareness regarding blood donation is expected to fuel the market growth of transfusion bags. Hence, due to the factors mentioned above, the market is anticipated to have high growth during the forecast period.
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North America is Expected to Retain the Largest Market Share During the Forecast Period
North America is anticipated to be one of the leading markets in the disposable blood bags market. Factors, such as the increased penetration of blood tests, along with a huge presence of several chronic diseases and blood-related disorders in the region, are going to offer lucrative growth to the market. Additionally, the presence of well-established and equipped health care infrastructure and increased blood donation activities, coupled with government efforts in promoting the use of disposable blood bags to prevent infections, are the factors that may impact market growth positively.
As per the statistics published by the American National Red Cross in 2018, over 36,000 units of red blood cells are needed every day in the United States, and approximately 7,000 units of platelets and 10,000 units of plasma are needed daily in the United States. An estimated number of 6.8 million people donate blood in the United States.
On the other hand, the burden of chronic diseases is continuously increasing in this region. For instance, according to the International Agency for Research on Cancer Society, reported that in the United States amounted to 2.28 million cancer in 2020, and by 2040, the burden of cancer is estimated to reach 3.12 million. Hence, due to the presence of all the market propelling factors in the region, North America is anticipated to offer lucrative growth in the future.
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Fresenius SE & Co. KGaA, Haemonetics Corporation, MacoPharma SA, Teleflex Incorporated, and Terumo Corporation are some key players currently dominating the disposable blood bags market. The disposable blood bags market is fragmented and competitive due to the presence of a large number of players. The major players are currently aiming their attention to expand their businesses to strengthen their position in the market.
In April 2021, Grifols acquired the seven US plasma donation centers from Kedrion for USD 55.2 million. From the acquisition, Grifols is expected to gain immediate access to the plasma obtained in these centers, which obtain approximately 240,000 liters per year.
In January 2021, Haemonetics Corporation entered a definitive agreement to acquire privately-held Cardiva Medical Inc. The acquisition is likely to help Haemonetics expand and diversify its hospital offerings in the large and growing interventional cardiology portfolio, including disposable blood bags.
Table of Contents
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing number of Taruma and Injuries
4.2.2 Rising Burden of Blood Related and Other Chronic Disorders
4.2.3 Increasing Government Initiatives for Blood Donations
4.3 Market Restraints
4.3.1 High Risk Associated with Blood Donation and Transfusion
4.4 Industry Attractiveness - Porter's Five Forces Analysis
4.4.1 Bargaining Power of Buyers/Consumers
4.4.2 Bargaining Power of Suppliers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Type of Bag
5.1.1 Blood Collection Bags
126.96.36.199 Single Blood Bags
188.8.131.52 Double BloodBags
184.108.40.206 Triple Blood Bags
220.127.116.11 Quadruple Blood Bags
5.1.2 Blood Transfusion Bags
5.2 By End User
5.2.1 Blood Banks
5.2.3 Non-Government Organization and Others
5.3 By Geography
5.3.1 North America
18.104.22.168 United States
22.214.171.124 United Kingdom
126.96.36.199 Rest of Europe
5.3.3 Asia Pacific
188.8.131.52 South Korea
184.108.40.206 Rest of Asia Pacific
5.3.4 Middle-East and Africa
220.127.116.11 South Africa
18.104.22.168 Rest of Middle-East and Africa
5.3.5 South America
22.214.171.124 Rest of South America
6. COMPETITIVE LANDSCAPE
*List Not Exhaustive
6.1 Company Profiles
6.1.1 AdvaCare Pharma
6.1.2 Fresenius SE & Co. KGaA
6.1.3 Genesis BPS
6.1.4 Grifols SA
6.1.5 Haemonetics Corporation
6.1.6 HLL Lifecare Limited
6.1.8 JMS Co. Ltd
6.1.9 Kawasumi Laboratories Inc.
6.1.11 Neomedic International
6.1.12 Poly Medicure Limited
6.1.13 Span Healthcare Private Limited
6.1.14 Teleflex Incorporated
6.1.15 Terumo Corporation
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
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Frequently Asked Questions
What is the study period of this market?
The Global Disposable Blood Bags Market market is studied from 2018 - 2026.
What is the growth rate of Global Disposable Blood Bags Market?
The Global Disposable Blood Bags Market is growing at a CAGR of 4.5% over the next 5 years.
Which region has highest growth rate in Global Disposable Blood Bags Market?
Asia-Pacific is growing at the highest CAGR over 2021- 2026.
Which region has largest share in Global Disposable Blood Bags Market?
North America holds highest share in 2020.
Who are the key players in Global Disposable Blood Bags Market?
Fresenius SE & Co. KGaA, Haemonetics Corporation, MacoPharma, Teleflex Incorporated, Terumo Corporation are the major companies operating in Global Disposable Blood Bags Market.