Industry Outlook

Blood processing devices and consumables market expected to reach by US$ 64.25 Bn by 2026 with CAGR of 7.9% during the forecast period from 2018 to 2026. Blood cell processors and reagents are the main segments playing a major role in the market. In 2017, North America clearly held major share in the global blood processing devices and consumables market, as the key companies headquartered in the region. As per the World Health Organization (WHO), in 2016, only 43 percent of the blood collected in the low wages nations are segregated into various components like RBC, platelets, and plasma. The rate is substantially higher (96%) in high wage nations, for example, Canada, United States, France, United Kingdom, and Germany. Blood processing is used to segregate all the components of blood such as platelets, RBC, WBC, and plasma. Blood processed in an anticoagulant can be deposited and transfused to a patient in an unmodified state. The increase in infectious disease and contaminations that starts through the blood transfer remains a colossal stress to the blood industry.

According to the World Health Organization (WHO), around 112.5 million units of donated blood are collated globally every year. Acquired Immunodeficiency Syndrome (AIDS) and Hepatitis are major infectious disease that pose incredible challenges to the healthcare professionals due to lack of treatment of these ailments. Hepatitis C (HCV) is one of most occurred blood borne disease affecting millions of people globally. As per the WHO, the most affected regions are European Regions and Eastern Mediterranean, with the prevalence of 2.3% and 1.5% respectively. Prevalence of hepatitis C infection in other regions fluctuates from 0.5% to 1.0%. HIV is also a major cause of deaths globally, in 2016 around 1.0 million individuals died due to HIV related causes worldwide. To overcome this issue, different blood processing consumables and blood processing devices are utilized to anticipate contamination in blood donation modes and blood transfusion. Blood processing devices are utilized as a part of blood refrigeration, centrifugation of platelets and cell preparing. While, blood processing consumables are utilized as a part of the accumulation collection of blood.

According to the American Red Cross, rising incidence of infectious diseases such as sickle cell affects 90,000 to 100,000 individuals in the United States. In 2017, around 1.7 million individuals in the United States were diagnosed with cancer that requires blood during chemotherapy treatment, thus creating higher demand for processed and non-contaminated blood. Expanding investments in Asia-Pacific and Europe and a substantial number of blood donation camps and awareness will drive the development of blood processing devices and consumables market in countries like Indian and China, which will additionally enhance the market growth in these regions.

In 2017, the United States and China were the leading market in North America and Asia Pacific respectively, while the United Kingdom lead the market in Europe. Furthermore, Japan and other countries such as Australia, South Korean and Malaysia from Rest of Asia Pacific are anticipated to gain substantial market share in Asia Pacific during the forecast period owing to rapidly emerging economy, growing healthcare facilities and vast patient pool.

"Growing Incidence of Infectious Diseases worldwide boosting the growth of blood processing devices and consumables market"

Currently, blood cell processors are the largest product type by value and estimated to retain its prominence during the forecast period. While blood bags estimated to record highest CAGR throughout the forecast period from 2018 to 2026. According to the WHO, around 36.7 million individuals were living with HIV at the end of 2016 globally. Africa is the widely affected region, with around 25.6 million individuals affected with HIV. As per the Centers for Disease Control and Prevention (CDC) estimates, in 2016 around 100,000 Americans were affected by Sickle cell disease (SCD). Moreover, in 2015, around 257 million people were affected with chronic hepatitis B (HBV) infection. Hepatitis C cases are increasing gradually globally; around 71 million individuals had hepatitis C infection in 2015. Approximately 1.75 million new cases of hepatitis C infection occurred globally in 2015. Hence, it is projected that aforementioned factors will boost the growth of blood processing devices and consumables market during the forecast period from 2018 to 2026.

This detailed study further defines the major qualitative market assessment factors including the main market driver, market trends, and restraints, to help in better understanding of global blood processing devices and consumables market. Each market valuation factor comprising challenges, market drivers and opportunities are widely elucidated considering the existing market scenario. This report graphically maps the market players based on their market initiatives and product offering, strategies, and business strength. Moreover, the report provides attractive investment proposition based on the extensive geographical research. Key players profiled in the report include: Abbott Laboratories, Becton, Dickinson and Company, Bio-Rad Laboratories, Thermo Fisher Scientific, Fenwal, Beckman Coulter, Grifols International, S.A., Fresenius Kabi, Haemonetics Corporation, Inc., Macopharma, Immucor, F. Hoffmann-La Roche AG, Stago, BioMérieux, Danaher Corporation, Thermogenesis Corporation, and Terumo Corporation among others.

Historical & Forecast Period

This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.

The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.

Research Methodology

The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Blood Processing Devices and Consumables market are as follows:

• Research and development budgets of manufacturers and government spending
• Revenues of key companies in the market segment
• Number of end users and consumption volume, price and value.
• Geographical revenues generate by countries considered in the report
• Micro and macro environment factors that are currently influencing the Blood Processing Devices and Consumables market and their expected impact during the forecast period.

Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.

Key questions answered in this report

• What are the key micro and macro environmental factors that are impacting the growth of Blood Processing Devices and Consumables market?
• What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
• Estimated forecast and market projections up to 2032.
• Which segment accounts for the fastest CAGR during the forecast period?
• Which market segment holds a larger market share and why?
• Are low and middle-income economies investing in the Blood Processing Devices and Consumables market?
• Which is the largest regional market for Blood Processing Devices and Consumables market?
• What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
• Which are the key trends driving Blood Processing Devices and Consumables market growth?
• Who are the key competitors and what are their key strategies to enhance their market presence in the Blood Processing Devices and Consumables market worldwide?