Market Size of Global Disposable Blood Bags Industry
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 445.95 Million |
| Market Size (2029) | USD 550.96 Million |
| CAGR (2024 - 2029) | 4.32 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Disposable Blood Bags Market Analysis
The Global Disposable Blood Bags Market size is estimated at USD 445.95 million in 2024, and is expected to reach USD 550.96 million by 2029, growing at a CAGR of 4.32% during the forecast period (2024-2029).
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.
