Global blood bags market was valued at approximately USD 346.0 million in 2017 and is expected to generate revenue of around USD 576.9 million by end of 2025, growing at a CAGR of around 7.6% between 2019 and 2025.
The blood bags are the versatile tiny bags used to store, collect, transfuse, and carry blood along with blood components such as RBC, WBC, and blood platelets. Types of blood bags available are double blood bag, single blood bag, triple blood bag, quadruple blood bag, and so on. The quantity ranges between 150 ml and 400 ml. Blood bags are needed to store blood and its elements because the blood is highly susceptible to temperature, light, and air. The blood bags prevent coagulation and contamination in the blood. It is anticipated that the blood bags industry will develop as blood bags will be used for storage, transportation, and transfusion. Blood bag demand is rising due to increased demand for sterility in blood transfusion, transportation, and storage and blood components. The blood bags substituted glass bottles for the blood and its parts to be collected, stored, and transported. The blood bags are made in such a way that it is easy to separate the blood collected from its components. Growing number of accidents boost the blood bags market growth. The blood bags are used primarily in hospitals and blood banks.
As per the report, the global demand for blood bags market was valued at approximately USD 346.0 million in 2017 and is expected to generate revenue of around USD 576.9 million by end of 2025, growing at a CAGR of around 7.6% between 2019 and 2025.
The significant contributing factor to the development of the market for blood bags is the increase in accidents and trauma events. The blood bag market is expected to grow significantly in the coming years. The blood bag’s demand is increasing as demand for blood sterilization and blood components are increasing. Rising initiatives from healthcare governing bodies and governments are stimulating voluntary blood donation, blood collection, and storage during the forecast period.
The market for blood bags is classified on the basis of type, end-users, and region. Based on the type, the market for blood bags is divided into single, double, triple, quadruple, and others. On the basis of end-users, the market is bifurcated into blood banks, hospital, and others. There is a rise in the amount of blood banks and diagnostic centers, which increases blood bag demand and thus increases blood bag market development.
Europe and Asia Pacific blood bags market is expected to dominate the global market owing to increased demand for the aspects of sterility, storage, transfusion, and transport of blood and blood components.
The major players involved in the global blood bags market are Qingdao Sinoland International Trade Co., Ltd., Terumo Corporation S.A, The Metrix Company Ltd., BL Lifesciences, Genesis BPS, Suru International Pvt. Ltd., Haemonetics Corporation, Mitra Industries Pvt. Ltd., Fresenius SE & Co., and others.
This report segments the global blood bags market as follows:
Global Blood Bags Market: Type Segment Analysis
Global Blood Bags Market: End User Segment Analysis
Global Blood Bags Market: Regional Segment Analysis