The
Global Blood Processing Devices and Consumables Market was valued at US$ 27.8
billion in 2015, according to a new report by published by Coherent Market
Insights. Increasing geriatric population and rising emphasis of leading
companies’ on long-term partnerships with end users is expected to boost demand
for blood processing devices and consumables over the forecast period
(2016–2024).
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Blood
processing devices and consumables market size has grown manifold over the last
decade. Much of its growth was attributed to government initiatives in setting
up of blood screening center, especially in developing countries. The trend is
especially prevalent in China, India, and Russia, with rampant increase in
number of blood centers in these countries in the recent past. As a result of
this, lucrative growth opportunities have emerged for industry players to
expand their business reach across developing regions and enhance ROI over the forecast
period.
There
has been an increase in incidence rate of infectious diseases and chronic
disorders such as cancer, especially among the geriatric population. According
to the World Health Organization (WHO), in 2015, over 150 million people
suffered from chronic hepatitis C virus, of which 700 thousand die each year
owing to lack of suitable healthcare infrastructure and diagnosis centers.
Technological advancements in the healthcare industry is expected to bridge the
gap between patient’s expectation and healthcare delivery system. While the
market for blood processing devices and consumables is highly saturated in
developed regions, the developing regions, especially Asia Pacific is largely
untapped and offers lucrative growth opportunities for market players.
Key takeaways of the market
·
Government has a critical role in creating
national platforms for blood screening and blood bank centers. Increasing
geriatric population along with rise in incidence rate of blood-related
disorders is expected to create lucrative market opportunities for industry
players
·
Cell processors device segment is expected to
dominate the global blood processing devices market (in terms of revenue)
throughout the forecast period. While, blood bags device segment is expected to
lead the consumables market throughout the forecast period.
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trends and insights prevalent in this market, click the link below: https://www.coherentmarketinsights.com/market-insight/blood-processing-devices-and-consumables-market-83
·
Asia Pacific dominated the global blood
processing devices and consumables market, with a revenue share of around 17%
of the total market in 2015. Growth of the regional market is mainly propelled
by increasing demand from China, which accounted for 39% revenue share of the
market in the region. The blood processing devices and consumables market in
India is expected to expand at the highest CAGR in Asia Pacific during the
forecast period.
·
North America and Europe are highly matured
market. Leading players such as Abbott Laboratories, Roche Holdings AG, and
Terumo Corporation are emphasizing on establishing a direct distribution
channel to retain their dominance in these regional markets. Setting up of cord
blood bank center in these region is expected to create substantial market
opportunity for industry players. Over 23 million blood components are
transfused each year in North America.
·
There are over 13 thousand blood bank centers
worldwide. The number is especially high in low to middle income countries,
particularly India, Indonesia and Vietnam. Establishment of blood bank centers
is expected to boost overall demand for blood bank refrigerators worldwide. The
blood bank market is highly consolidated, with leading players accounting for
around 80% of the global market. New entrants are expected to provide bank
refrigerators during the forecast period.
·
While the overall blood processing device
segment is consolidated, it is highly fragmented in consumables segment with
large presence of regional players, especially in China and India.
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