Increasing cases of road accidents and rising number of blood banks to drive global blood bags market
New Delhi, July 15, 2020: According to TechSci Research report, “Global Blood Bags Market By Product, By Type, By Volume, By Material, By End-User, By Region, Competition, Forecast & Opportunities, 2025”, the global blood bags market is forecast to grow at a CAGR of around 10% until 2025 on account of rising demand for blood components and blood sterilization. The world is witnessing rise in trauma and accident cases wherevictims require immediate blood transfusion.Additionally, increasing prevalence of chronic infections such as AIDS, cancer and other viral infections is increasing demand for blood donation. Hence, there is a surging demand for blood bags, which are used for the storage, collection, transfusion and transportation of blood along with the blood components such as RBC, WBC, and blood platelets.With the increasing number of hospitals, blood banks and other health centers, the demand for blood bags is also increasing across the globe. Moreover, blood bag manufacturers are also witnessing demand for sterilization of blood and its components.Apart from this, the presence of standard healthcare organizations, government initiatives in assisting the use of blood bags, and continuously improving sterility features is anticipated to make blood bags business a lucrative market during the forecast years.However, the global blood bags market also faces certain challenges. The hazardous waste created by the excessive usage of blood bags and regulations set on reducing the biohazardous waste might hamper the growth of the market in the coming years.
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“Global Blood Bags Market”
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The global blood bagsmarket is segmented based on product, type, volume, material, end-user and region. Based on product, the market is segmented into single blood bag, double blood bag, triple blood bag, quadruple blood bag andpenta blood bag. The triple blood bag segment accounted for largest market share and the trend is likely to continue during the forecast period as it finds extensive use in blood transfusion owning to their higher use in plasma collection.Based on end-user, the global blood bags market is segmented into hospitals, clinics, ambulatory surgical center, blood banks and others. Among them, the hospitals segment is anticipated to witness high growth through 2025 owing to increasing number of surgical procedures that require blood supply in large amounts.
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Terumo Corporation, Maco Pharma International GmbH, Fresenius SE & Co KGaA, Grifols S.A., Neomedic Limited, Teleflex Incorporated, Qingdao Sinoland International Trade Co., Ltd, HLL Lifecare Limited, JMS Co.Ltd., Demophorius Healthcare Ltd, Kawasumi Laboratories, Inc., Poly Medicure Ltd., Shanghai Transfusion Technology Co., Ltd., AdvaCare Pharma and Troge Medical GmbHare some of the leading players operating in the globalblood bagsmarket.
The COVID-19 outbreak is adversely impacting the blood bag market as a rising number of potential donor are becoming concerned about donating blood due to transmission of the COVID-19 virus. “Scientific enhancements and increase in the requirement for blood transfusion, storage and transportation is driving the blood bags market across the globe. However, the manufacturers need to continuously look for more innovative and environment friendly products to overcome the growth barriers. Almost all the nations on the planet are focusing on strengthening their healthcare sectors and hence, the coming years are going to provide huge growth opportunities for blood bags manufacturing companies, worldwide.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Global Blood Bags MarketBy Product, By Type, By Volume, By Material, By End-User, By Region, Competition, Forecast & Opportunities, 2025”has evaluated the future growth potential of global blood bagsmarket and provides statistics &information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in global blood bagsmarket.
Corporate Comm India (CCI Newswire)
