Published:
October 2020
October 2020
Report Code:
bwc20177
bwc20177
Available Format:
PDF
Pages:
178
178
global blood bag market bwc20177
Global Blood Bag Market Size – Industry Trends & Forecast Report 2026
The global Blood Bag market has reached USD 290 Million in 2019
and is further projected to reach USD 629.17 Million by 2026, growing at a CAGR
of 11.7% during the forecast period. The market is growing due to the rising
incidences of blood-related disorders and the increasing number of road
accidents that require an immediate blood transfusion. Additionally, government
initiatives to boost the healthcare sector, the rising number of hospitals,
blood banks, and other healthcare centers are driving the growth of the blood
bag market across the globe. Growing awareness over blood donation among
citizens is also propelling the demand for blood bags around the globe.
Source: BlueWeave
Consulting
Global Blood Bag Market Overview:
Blood bags are used for the storage, collection, transfusion,
and transportation of blood along with the blood components such as RBC, WBC,
and blood platelets. Additionally, they also prevent the blood from coagulation
and contamination. However, the hazardous waste created by the excessive usage
of blood bags might prove to be a restraining factor for the growth of the
blood bag market in the coming years. Moreover, stringent regulation by the
governments for healthcare practices and services is anticipated to impede
market growth.
Global Blood Bag Market Forecast and Trends
Growth Drivers
Rising usage of Blood bag
Surging volume of patients suffering from blood-related
disorders, an increasing number of blood banks, hospitals, and other healthcare
centers, rising levels of investment for the growth of the healthcare industry
by the government, rising usages of the blood bag for collection, storage,
transportation of blood with components such as WBC, RBC, and blood platelets
are some of the factors which will likely to enhance the growth of the blood
bag market in the forecast period of 2020-2027. On the other hand, rising
occurrences of road accidents along with the rising number of blood transfusion
procedure which will further boost many opportunities for the growth of the
blood bag market in the above-mentioned forecast period.
Rising incidences of blood-related disorders
The rising incidences of blood-related disorders and an
increasing number of road accidents that require an immediate blood transfusion.
Additionally, government initiatives to boost the healthcare sector, the rising
number of hospitals, blood banks, and other healthcare centers are driving the
growth of the blood bag market across the globe. Growing awareness over blood
donation among citizens is also propelling the demand for blood bags around the
globe. The geriatric population is more susceptible to chronic diseases such as
cancer and the demand for surgical procedures will upsurge the demand for blood
bags.
Restraints
Stringent regulation by the governments for the excessive usage
of blood bags
The hazardous waste created by the excessive usage of blood bags
might prove to be a restraining factor for the growth of the blood bag market
in the coming years. Moreover, stringent regulation by the governments for
healthcare practices and services is anticipated to impede market growth.
Regulations set on reducing biohazardous waste may have an impact on industry
growth. While the availability of various alternatives is declining the market
share. Thus, these factors can hamper the growth of the blood bag market during
the forecasting period.
Impact of COVID-19 in the industry
The most unprecedented operational and economic challenges
followed the onset of the global COVID-19 pandemic. Also, considerable time is
needed for the development and commercialization of effective treatment options
for new pathogens. Local government redirection of healthcare resources toward
COVID-19 treatment is also expected to engage most healthcare workers to tackle
the outbreak. This uncertainty is expected to delay and reschedule the
diagnosis and treatment of blood-related health conditions for the coming two
to three quarters. The blood bag market is expected to pick pace post-pandemic
in the second half of 2021, owing to the availability of treatment and recovery
of developed and emerging economies from the COVID-19 pandemic.
Global Blood Bag Market: By Product
Based on product, the market is segmented into a single blood
bag, double blood bag, triple blood bag, quadruple blood bag, and Penta blood
bag. Among them, the triple blood bag segment is expected to continue its
dominance due to an increase in the number of blood transfusion procedures,
higher incidences of various blood-related disorders, and their use in plasma
collection.
Global Blood Bag Market: By Type
Based on type, the market is segmented into collection bag
&transfer bag. Amidst this, the transfer bag segment is projected to
witness rapid growth shortly. This can be primarily attributed to the storage
capacity of these bags, which ranges from 150 ml to 1000 ml. This enables the
separation of blood components in a more sterile manner and eliminates the
requirement for cleaning processes. The disposable blood bag market is anticipated
to expand at a high rate in the next few years, owing to an increase in the
number of accidents/trauma incidents. Moreover, scientific improvements and an
increase in the requirement for blood transfusion and transportation worldwide
would promote market growth.
Source: BlueWeave
Consulting
Global Blood Bag Market: By Material
The global Blood Bag market is segmented based on material into
PVC, PET & Others. Amidst this, PVC Blood bags are widely used as PVC
ensures the much-needed 42 days of shelf life of the blood. Blood banks depend
on the longevity of these bags, especially for patients with rare blood types
or during emergencies such as natural disasters.
Global Blood Bag Market: By Volume
Based on volume, blood bag market is segmented into 100ml,
150ml, 250ml, 300ml, 350ml, 400ml, 450ml, and 500ml. Amidst this category,
usually, the 500ml bag is used due to the higher holding capacity &
convenience associated with it.
Global Blood Bag Market: By End-User
The blood bag market has also been segmented based on the
end-use into hospitals, clinics, ambulatory surgical centers, blood banks, and
others. Amidst this category, the hospital's segment has a higher market share
due to the surging volume of patients suffering from blood-related disorders
leads to hospitalization of patients & rising usages of the blood bag for
collection, storage, transportation of blood with components such as WBC, RBC,
and blood platelets are some of the factors which will likely to enhance the
growth of the blood bag market in hospitals segment.
Global Blood Bag Market: Regional insights
The global Blood Bag market is segmented into five regions
including North America, Europe, Asia-Pacific, Latin America, and Middle East
& Africa. The Asia-Pacific is expected to dominate the blood bag market in
the coming years. An increase in demand towards the sterility aspects, storage,
transfusion, and transportation of blood and its components are boosting the
regional growth. The region is also undergoing rapid developments, especially
in the healthcare sector and construction of hospitals & health clinics is
also surging, which is anticipated to positively impact the market through
2026.
Recent Development
In March 2019, Terumo BCT, the world's leading manufacturer of
blood related medical devices and therapeutics, is planning big investments in
its Indian subsidiary Terumo Penpol to make it one of the prime production,
research, and innovation centers across the globe.
Competitive landscape
Key players in the blood bag market include TERUMO BCT, INC.;
Maco Pharma; Fresenius Kabi India Pvt. Ltd.; 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.; Polymedicure; AdvaCare Pharma; TROGE MEDICAL GMBH;
Haemonetics Corporation; B. Braun Melsungen AG; Coloplast Corp; Innvol.; The
Metrix Company.; BL Lifesciences.; SURU INTERNATIONAL PVT. LTD.; among other
prominent players. Prominent industry players operating in the blood bag
industry have adopted various strategic initiatives to sustain the market
competition. For instance, Terumo Corporation has developed superior quality
new TERUFLEX blood bags that are durable. Development of product portfolio will
aid revenue generation for the company.
Scope of the Report
|
Attribute |
Details |
|
Years Considered |
Historical
data – 2016-2019 Base
Year – 2019 Forecast
– 2020 – 2026 |
|
Facts
Covered |
Revenue
in USD Billion |
|
Market
Coverage |
U.S, Canada,
Germany, UK, France, Italy, Spain, Brazil, Mexico, Japan, South Korea, China,
India, UAE, South Africa, Saudi Arabia |
|
Product/Service
Segmentation |
By type, material, Volume, product
& end user |
|
Key Players |
Key players for Blood
Bag Market include: TERUMO BCT,
INC.; Maco Pharma; Fresenius Kabi India Pvt. Ltd.; 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.; Polymedicure; AdvaCare Pharma; TROGE MEDICAL
GMBH; Haemonetics Corporation; B. Braun Melsungen AG; Coloplast Corp;
Innvol.; The Metrix Company.; BL Lifesciences.; SURU INTERNATIONAL PVT. LTD.;
among other key players. |
Scope of the Report
By Product
Ø Single Blood Bag
Ø Double Blood Bag
Ø Triple Blood Bag
Ø Quadruple Blood Bag
Ø Penta Blood Bag
By Type
Ø Collection Bag
Ø Transfer Bag
By Volume
Ø 100ml
Ø 150ml
Ø 250ml
Ø 300ml
Ø 350ml
Ø 400ml
Ø 450ml
Ø 500ml
By Material
Ø PVC
Ø PET
Ø Others
By End-User
Ø Hospitals
Ø Clinics
Ø Ambulatory Surgical Center
Ø Blood Banks
Ø Others
By Region:
Ø Asia Pacific
Ø North America
Ø Europe
Ø Middle East & Africa
Ø Latin America
COVID-19
We've been tracking the direct impact of COVID-19 on this market, and wherever required we will be considering covid19 footprints for a better analysis of markets and industries. Contact our sales team for more details at
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