(PharmaNewsWire.Com, June 26, 2024 ) Global Blood Bags Market size was valued at USD 243.19 Mn in 2023 and is expected to reach USD 376.94 Mn by 2032, at a CAGR of 4.99%.
Pune, 25, June 2024: The Global Blood Bags Market was valued at USD 243.19 million in 2023 and is expected to reach USD 376.94 million by 2032, with a CAGR of 4.99%. Blood bags are essential for collecting, storing, transporting, and transfusing human blood and its components. They are made from PVC with biocompatible additives and are sterilized. They are crucial for intensive chemotherapy and bone marrow transplantation treatments for leukemia and lymphoma patients. Blood bags are in high demand due to the increasing number of patients suffering from blood, kidney, metabolic, and neurological disorders. Apheresis technology reduces white cell count, and in the US, one person is diagnosed with blood cancer every three minutes, driving the market growth.
Blood Bags Market Dynamics
The blood bag market is experiencing growth due to increased awareness about blood donation and the need for safe and high-quality blood transport. As more people donate blood, there is a demand for adequate supplies of blood bags to ensure safe collection and transfusion. The demand for high-quality blood bags is driven by the need for safe and reliable blood transport. This has led to the adoption of advanced technologies that improve the safety, reliability, and durability of blood bags. The market is expected to grow as more people become aware of the importance of blood donation.
The global healthcare expenditure is increasing due to population growth, aging populations, and infrastructure expansion. This growth is focusing on patient and worker safety, leading to a higher demand for Blood Bags, creating a favorable market environment for the industry. The market growth of Blood Bags is largely driven by awareness campaigns and educational initiatives, with governments, healthcare organizations, and non-profits actively spreading information about their benefits and risks, thereby increasing their adoption among healthcare workers.
The North American blood bag market is experiencing growth due to rising demand for blood transfusions, diseases, increased awareness, and blood donation campaigns. The COVID-19 pandemic has impacted the region, indicating a promising future for the market. Demand for blood bags is driven by the need for red blood cells, with the American National Red Cross estimating 36,000 units needed daily and nearly 21 million blood components transfused annually. The rise in non-Hodgkin lymphoma cases in Canada, road accidents, and chronic diseases is also driving the market growth. Government initiatives for improving healthcare blood management and increasing awareness about blood donation are expected to fuel market growth.
Blood Bags Market Segment Analysis
By Type
Collection Bag Transfer Bag
The Collection Bag segment is projected to lead the blood bag market during the forecast period, driven by the rising demand for whole blood collection and apheresis procedures, alongside an increasing emphasis on blood safety and quality. Specialized collection bags are crucial for the separation of blood components, vital for treating blood disorders and diseases. The demand for whole blood collection bags is set to increase due to stringent regulations and guidelines enforced by governments and healthcare organizations. Consequently, the Collection Bag segment is anticipated to dominate the blood bag market.
By Product
Single Blood Bag Double Blood Bag Triple Blood Bag Quadruple Blood Bag Penta Blood Bag
By Volume
100ml - 250ml 251ml - 350ml 351ml - 450ml By Material
PVC PET Others
By End-User
Hospitals Clinics Ambulatory Surgical Centre Blood Banks Others
GLOBAL BLOOD BAGS MARKET BY REGION
NORTH AMERICA USA Canada Mexico EASTERN EUROPE Russia Bulgaria The Czech Republic Hungary Poland Romania Rest of Eastern Europe WESTERN EUROPE Germany United Kingdom France The Netherlands Italy Spain Rest of Western Europe ASIA PACIFIC China India Japan South Korea Malaysia Thailand Vietnam The Philippines Australia New-Zealand Rest Of APAC MIDDLE EAST & AFRICA Turkey Bahrain Kuwait Saudi Arabia Qatar UAE Israel South Africa SOUTH AMERICA Brazil Argentina Rest of South America
Blood Bags's Key Competitors include:
Terumo Corporation (Japan) Haemonetics Corporation (U.S.) Fresenius SE & Co. KGaA (Germany) Macopharma SA (France) Grifols S.A. (Spain) Kawasumi Laboratories Inc. (Japan) Shanghai Transfusion Technology Co. Ltd. (China) Neomedic Limited (UK) Poly Medicure Limited (India) Genesis BPS (USA), and other major players.
Key questions answered in the Blood Bags Market report are:
Which market segment dominated the global Blood Bags market in 2023? What are the current global trends in the Blood Bags market? What future industry applications and trends are emerging in the Blood Bags market? What growth strategies are companies adopting to expand their presence in the Blood Bags market? Who are the leading companies in the Blood Bags market, and what are their product portfolios? What are the primary challenges that the Blood Bags market may face in the future? Which region had the largest share of the Blood Bags market in 2023? How is the regulatory environment influencing the Blood Bags market?
Key Offerings:
Market Size, Share, Size & Forecast by Different Segments | 2024−2032 Blood Bags Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region Market Trend Analysis Pestle Analysis Porter’s Five Forces Analysis Industry Value Chain Analysis Ecosystem Regulatory Landscape Price Trend Analysis Patent Analysis Technology Evolution Investment Pockets Blood Bags Market Segmentation Competitive Landscape – Profiles of selected key players in a strategic perspective Competitive landscape – Competitive Benchmarking, Blood Bags Market Share by Manufacturer (2023), Industry BCG Matrix, Heat Map Analysis, Mergers & Acquisitions Analyst Viewpoint and Conclusion
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