Blood processing devices and consumables: Key market research findings
- The Americas dominate the market geographically
- Blood banks comprise of one of the largest end-user segments
- Key vendors – Abbott Laboratories, BD, BioMérieux, Bio-Rad Laboratories, and Thermo Fisher Scientific
Technavio’s market research analysts predict the global market for blood processing devices and consumables to grow at a CAGR of more than 8% between 2016 and 2020. The growth of the market can be accredited to the rising automation of devices in blood processing. Automated devices include whole blood collection devices and automated cell processors. The demand for automated devices is on a rise owing to their faster, better, and more advanced methods of blood processing. During 2015, the Americas occupied around 45% of the overall market space to become the dominant shareholder in the global blood processing devices and consumables market. The growth of the blood processing devices and consumables market in the Americas is driven by the stringent laws made for blood-related procedures.
The new market research report from Technavio presents a breakdown and analysis of the blood processing devices and consumables segments based on the end-user.
“A rise in the number of blood transfusion surgeries is driving growth in the market currently. This scenario is being observed across all developed, developing, and few underdeveloped countries. The rise in the number of blood transfusion surgeries stems from the growing prevalence of infectious diseases requiring blood transfusion or surgical treatment, and growing geriatric population prone to various medical conditions requiring a blood transfusion. Besides, rising R&D initiatives in regenerative medicine and cell therapies is also expected to fuel the demand in this sector,” says Barath Palada, Lead Analyst, Healthcare & Lifesciences, Technavio Research.
Blood banks focus on blood collection, segregation of blood components, and storage of the collected blood as per the WHO guidelines. The installation of devices and usage of consumables in blood banks is mandatory as these are the main channels through which the blood is distributed to various hospitals, clinics, and research laboratories. As a result, the blood bank segment of the global market for blood processing devices and consumables is expected to showcase substantial growth in the coming years.
The key vendors in the market include Abbott Laboratories, BD, BioMérieux, Bio-Rad Laboratories, and Thermo Fisher Scientific. This market is characterized by the presence of major healthcare companies like Abbott Laboratories, BD, and Bio-Rad, which have both direct and indirect presence in many countries. Apart from these companies, other prominent companies like Stago, Thermo Fisher Scientific, MacoPharma also have presence in different geographies.
A more detailed analysis is available in the Technavio report, Global Blood Processing Devices and Consumables Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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