(PharmaNewsWire.Com, November 06, 2020 ) According to research report Autotransfusion Systems Market is projected to reach USD 505 million by 2024 from USD 395 million in 2019 at a CAGR of 5.0%. Autotransfusion products, by type, accounted for the largest share of the autotransfusion systems market, in 2019.
The growth of the autotransfusion devices market is driven by the increasing number of surgical procedures, rising number of transplant procedures, advantages of autotransfusion, and scarcity of donated blood/allogenic blood.
Medtronic Plc (Ireland), Becton, Dickinson and Company (US), Zimmer Biomet Holdings, Inc (US), Teleflex Incorporated (US), LivaNova (UK), Fresenius (Germany), Atrium Medical Corporation (Sweden), Haemonetics Corporation (US), SARSTEDT (Germany), Braile Biomédica (Brazil), Redax (Italy), Beijing ZKSK Technology Co (China), and Gen World Medical Devices (India) are some of the leading players.
An analysis of the market developments has revealed that strategies in the form of inorganic growth such as acquisitions were adopted by market players to strengthen their product portfolio and maintain a competitive position in the autotransfusion devices market.
LivaNova (UK) holds a strong position in the autotransfusion systems market. LivaNova offers its autotransfusion systems through its Cardiovascular segment. The company is recognized as a world leader in autotransfusion due to its experience and commitment to innovative solutions research. Since 2010, XTRA, LivaNova’s latest extraordinarily innovative, intuitive, and powerful ATS system, featuring innovative technological characteristics, ease of use, and powerful performance, has been supporting clinicians in meeting patient blood management goals. XTRA has helped over one million patients reduce allogeneic transfusion risks and shorten their hospital stays.
Haemonetics (US) has successfully positioned itself as a strong player in the autotransfusion systems market. The company has a strong portfolio in providing products for blood, plasma, and whole blood cells. The company’s Cell Saver Elite system provides hospitals with an easy-to-use and reliable way to recover and deliver a patient’s own high-quality blood back during medium to high blood loss procedures, including cardiac, orthopedic, trauma, transplant, vascular, and OBGYN surgeries. On the other hand, in the past three years, the company has not made any significant development in the autotransfusion systems market. This may hamper Haemonetics’ position in the coming years.
The company generates around 50% of its revenue from the US market. This may result in increased exposure of the company to the risk of demand fluctuations in local markets. Haemonetics can also focus on emerging markets such as Asia and Latin America, which offer high growth opportunities.
North America, by region, held the largest share of the autotransfusion devices market in 2019.
The large share of the North American market can mainly be attributed to the high and growing prevalence of target health conditions (cardiovascular, orthopedic, and trauma cases), increasing number of major transplant procedures, scarcity of allogenic blood, preference for autologous blood (due to its advantages), and the strong presence of key market players in the region.
Becton, Dickinson and Company (US), Zimmer Biomet Holdings, Inc. (US), Teleflex Incorporated (US), and Haemonetics Corporation (US) are some of the major players operating in the North American autotransfusion systems market.
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