Global Blood Processing Devices and Consumables Market

GLOBAL BLOOD PROCESSING
DEVICES AND CONSUMABLES
MARKET
INDUSTRY INSIGHTS, TRENDS, OUTLOOK, AND
OPPORTUNITY ANALYSIS, 2016–2024
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REPORT DESCRIPTION
Blood Processing Devices and Consumables Market
The Global Blood Processing Devices and Consumables Market was valued at US$ 27.8
billion in 2015, according to a new report by published by Coherent Market
Insights. Increasing geriatric population and rising emphasis of leading companies’ on longterm partnerships with end users is expected to boost demand for blood processing devices
and consumables over the forecast period (2016–2024).
Blood processing devices and consumables market size has grown manifold over the last
decade. Much of its growth was attributed to government initiatives in setting up of blood
screening center, especially in developing countries. The trend is especially prevalent in
China, India, and Russia, with rampant increase in number of blood centers in these
countries in the recent past. As a result of this, lucrative growth opportunities have emerged
for industry players to expand their business reach across developing regions and enhance
ROI over the forecast period.
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There has been an increase in incidence rate of infectious diseases and chronic disorders
such as cancer, especially among the geriatric population. According to the World Health
Organization (WHO), in 2015, over 150 million people suffered from chronic hepatitis C
virus, of which 700 thousand die each year owing to lack of suitable healthcare
infrastructure and diagnosis centers.
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REPORT DESCRIPTION
Technological advancements in the healthcare industry is expected to bridge the gap
between patient’s expectation and healthcare delivery system. While the market for blood
processing devices and consumables is highly saturated in developed regions, the
developing regions, especially Asia Pacific is largely untapped and offers lucrative growth
opportunities for market players.
Browse Press Release: https://www.coherentmarketinsights.com/press-release/globalblood-processing-devices-and-consumables-market-size-to-surpass-us-493-billion-by-202410
Key takeaways of the market
• Government has a critical role in creating national platforms for blood screening and
blood bank centers. Increasing geriatric population along with rise in incidence rate of
blood-related disorders is expected to create lucrative market opportunities for industry
players
• Cell processors device segment is expected to dominate the global blood processing
devices market (in terms of revenue) throughout the forecast period. While, blood bags
device segment is expected to lead the consumables market throughout the forecast
period.
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REPORT DESCRIPTION
• Asia Pacific dominated the global blood processing devices and consumables market, with a
revenue share of around 17% of the total market in 2015. Growth of the regional market is
mainly propelled by increasing demand from China, which accounted for 39% revenue share of
the market in the region. The blood processing devices and consumables market in India is
expected to expand at the highest CAGR in Asia Pacific during the forecast period.
• North America and Europe are highly matured market. Leading players such as Abbott
Laboratories, Roche Holdings AG, and Terumo Corporation are emphasizing on establishing a
direct distribution channel to retain their dominance in these regional markets. Setting up of
cord blood bank center in these region is expected to create substantial market opportunity for
industry players. Over 23 million blood components are transfused each year in North America.
• There are over 13 thousand blood bank centers worldwide. The number is especially high in
low to middle income countries, particularly India, Indonesia and Vietnam. Establishment of
blood bank centers is expected to boost overall demand for blood bank refrigerators
worldwide. The blood bank market is highly consolidated, with leading players accounting for
around 80% of the global market. New entrants are expected to provide bank refrigerators
during the forecast period.
• While the overall blood processing device segment is consolidated, it is highly fragmented in
consumables segment with large presence of regional players, especially in China and India.
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