|Market Size in 2022||Market Forecast in 2030||CAGR (in %)||Base Year|
|USD 225.1 Million||USD 372.5 Million||6.5%||2022|
Disposable Blood Bag Market
The global disposable blood bag market size was worth around USD 225.1 Million in 2022 and is predicted to grow to around USD 372.5 Million by 2030 with a compound annual growth rate (CAGR) of roughly 6.5% between 2023 and 2030. The report analyzes the global disposable blood bag market’s drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the disposable blood bag market.
Biomedical devices known as disposable blood bags are used to gather, store, transport, and transfuse blood and its constituent parts. They are made of biocompatible PVC that has been blended with the proper additives so that it won't conflict with blood constituents. Glass bottles must be thoroughly cleaned, rinsed, and autoclaved, and there is a risk of breakage at any time, so disposable blood bags are favored over glass bottles. Disposable blood bags also aid in the separation of blood components that are used to treat a variety of blood diseases, including plasma, platelets, and cryoprecipitate.
An increasing amount of collisions and injuries from traffic drives the market growth
A surge in automobile crashes is anticipated to increase demand for blood and blood products during the analysis period. The World Health Organization estimates that 1.3 million people have their lives cut short as a result of transportation accidents each year. There are an extra 20 to 50 million people who suffer non-fatal injuries. Road accidents cost the bulk of nations 3% of their GDP. Despite possessing about 60% of the world's cars, low- and middle-income countries are responsible for 93% of all traffic fatalities. The injured lose a lot of blood in these accidents, so an increase in traffic accidents is predicted to have a significant impact on the global disposable bags market growth.
The lack of sufficient infrastructure hinders the industry from growing
The absence of adequate healthcare infrastructure for blood collection, storage, and distribution across various low-income nations is anticipated to significantly restrain the development of the global disposable blood bags market over the forecast period.
A rise in the frequency of diseases associated with blood is expected to provide a lucrative opportunity
Due to the rising prevalence of blood-related diseases and the increasing demand for blood collection and transfer bags, it is anticipated that the global disposable blood bag industry will grow during the forecasted period. According to the US National Heart Lung and Blood Institute, millions of people are impacted by blood disorders each year. Hemophilia, anemias, venous thromboembolism, and other bleeding disorders impact red and white blood cells, platelets, bone marrow, vascular endothelium, and plasma proteins.
These conditions can be inherited or acquired. These conditions can cause abnormal blood cell activity, which may result in disease or have an effect on everyone's health. Around 100,000 Americans are said to have sickle cell disease (SCD), according to the US CDC. One out of every 365 Black or African American babies born has SCD. One in every 16,300 infants born to Hispanic Americans has SCD. About 1 in every 13 Black or African-American newborns has the sickle cell trait. Therefore, the market for disposable blood bags is expected to grow due to the rising incidence of blood-related disorders.
The risk of disease spread could impede market expansion
The danger of transmitting HIV, hepatitis B or C, and sepsis is increased when the plastic bags are used unevenly or are contaminated. For instance, hepatitis C is the most common chronic bloodborne disease spread by blood transfusion. Without a robust healthcare infrastructure for blood collection, storage, and delivery across many low-income countries, these risks rise. During the projection period, this is likely to restrain the development of the disposable bag market globally.
The global disposable blood bag industry is segmented based on the product, end user, and region.
Based on the product, the global market is bifurcated into blood collection bags and blood transfusion bags. The blood transfusion segment is expected to dominate the market over the forecast period. Blood products are intravenously transferred into a recipient's circulation using blood transfusion bags. The procedure of a blood transfusion is used to restore missing blood components in several medical conditions. The demand for blood transfusion bags is expected to rise as the number of infectious and persistent diseases, along with the number of surgical operations, rises. Nearly 21 million blood components are transfused annually in the US, according to the American National Red Cross.
Additionally, over 118.5 million blood donations will be gathered in 2020 for use in transfusions of sick patients, according to data from the World Health Organization (WHO). In high-income countries, which are home to 16% of the world's population, 40% of these are gathered globally. According to the WHO, there have been 7.8 million more voluntary, unpaid blood donations recorded between 2013 and 2018. This rise in blood donation consciousness is anticipated to drive the market expansion for transfusion bags.
Based on the end user, the market is segmented into blood banks, hospitals, NGOs, and others. The hospital segment is expected to account for the largest market share during the forecast period because of the increase in surgical procedures. Additionally, it is anticipated that the segment will expand as a result of the rise in blood disorders, the expansion of the healthcare sector, and the rising number of hospitals and clinics being built. As per the National Institute of Health, around 40 to 50 million major surgeries are done annually in the USA, and 20 million in Europe, for a startling total of 310 million worldwide. Thus, these facts support the growth of the market development.
|Report Attributes||Report Details|
|Report Name||Disposable Blood Bag Market Research Report|
|Market Size in 2022||USD 5.32 Billion|
|Market Forecast in 2030||USD 24.53 Billion|
|Growth Rate||CAGR of 21.5%|
|Number of Pages||203|
|Key Companies Covered||Macopharma, TERUMO BCT, INC., Fresenius Kabi India Pvt. Ltd, Demophorius Healthcare Ltd, Grifols, S.A., Neomedic International SL, Teleflex Incorporated, Qingdao Sinoland International Trade Co., Ltd, JMS Co.Ltd, KAWASUMI LABORATORIES. INC., AdvaCare Pharma, Polymedicure, Coloplast Corp, Innvol., The Metrix Company, BL Lifesciences, and SURU INTERNATIONAL PVT. LTD among others.|
|Segments Covered||By Product, By End User, And By Region|
|Regions Covered||North America, Europe, Asia Pacific (APAC), Latin America, Middle East, and Africa (MEA)|
|Historical Year||2017 to 2021|
|Forecast Year||2023 - 2030|
|Customization Scope||Avail customized purchase options to meet your exact research needs. Request For Customization|
North America is expected to dominate the market during the forecast period
North America is expected to dominate the global disposable blood bag market during the forecast period. The market will experience profitable development as a result of factors like the increased use of blood tests and the prevalence of numerous chronic diseases and blood-related disorders in the region. Additional factors that may have a positive effect on market development include the presence of a well-developed & equipped healthcare infrastructure, increased blood donation activities, and government initiatives to promote the use of disposable blood bags to prevent infections. Over 36,000 units of red blood cells, 7,000 units of platelets, and 10,000 units of plasma are required every day in the United States, according to data from the American National Red Cross that was released in 2018.
In the United States, an estimated 6.8 million people give blood. On the other side, the prevalence of chronic diseases is rising here over time. For instance, the International Agency for Research on Cancer Society stated that there were 2.28 million cancer cases in the United States in 2020, and that number is expected to rise to 3.12 million by 2040. North America is therefore expected to experience profitable development in the future as a result of the presence of all market-driving factors in the region.
Asia Pacific is anticipated to experience the fastest rate of growth for disposable blood bags during the anticipated timeframe. The Asia Pacific disposable blood bag market is primarily driven by an increase in accidents as well as an increase in blood transit and transfusion procedures. China and India, two of the region's developing countries, will gradually add to the growth of the Asia Pacific disposable blood bag market.
The global disposable blood bag market is dominated by players like:
By End User
Blood bag systems are designed for transfusion, transportation, storage, and collection of human blood and blood-associated products. These are the disposable biomedical products utilized heavily by the government, blood banks, hospitals, and non-government organizations to collect blood during donation programs.
The growing demand for blood transfusion procedures, along with the surge in trauma incidents globally, is likely to thrive the growth of the global disposable blood bag market. In addition, the growing number of road accidents and traffic injuries is further scaling up the growth of the global disposable blood bag market exponentially.
According to the report, the global market size was worth around USD 225.1 million in 2022 and is predicted to grow to around USD 372.5 million by 2030.
The global disposable blood bag market is expected to grow at a CAGR of 6.5% during the forecast period.
The global disposable blood bag market growth is expected to be driven by North America. It is currently the world’s highest revenue-generating market owing to the rising number of fatalities due to road accidents.
The global disposable blood bag market is dominated by players like Macopharma, TERUMO BCT, INC., Fresenius Kabi India Pvt. Ltd, Demophorius Healthcare Ltd, Grifols, S.A., Neomedic International SL, Teleflex Incorporated, Qingdao Sinoland International Trade Co., Ltd, JMS Co.Ltd, KAWASUMI LABORATORIES. INC., AdvaCare Pharma, Polymedicure, Coloplast Corp, Innvol., The Metrix Company, BL Lifesciences and SURU INTERNATIONAL PVT. LTD among others.