Market Trends of Global Disposable Blood Bags Industry
This section covers the major market trends shaping the Disposable Blood Bags Market according to our research experts:
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.
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.
