Disposable Blood Bags Market to Cross US$ 700 Mn by 2030; Rescheduling Treatment of Blood-related Diseases Due to COVID-19 Outbreak Minifying Market Growth
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Disposable blood bags have overshadowed the usage of glass bottles for the collection, storage, transfer, and processing of blood and blood components such as RBCs, plasma, etc. This is because of convenience and mechanical strength of polyvinyl chloride (PVC) bags over glass bottles, which require exhaustive cleaning and sterilization before each use.
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Increasing tender-based purchasing practices of blood collection bags by government blood banks and hospitals is also expected to boost the growth of the global disposable blood bags market over the forecast period. Moreover, increasing need for blood and blood-derived products is escalating the demand for disposable blood bags.
According to a latest market report published by Persistence Market Research, the disposable blood bags market is set to expand at an impressive CAGR of over 9%, to be valued at more than US$ 700 Mn by 2030.
Company Profiles:
- Fresenius SE & Co. KGaA
- Terumo Corporation
- Grifols, S.A.
- HLL Lifecare Limited
- Poly Medicure Limited
- MacoPharma, S.A.
- INNVOL Medical India Limited
- Span Healthcare Private Limited
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Key Takeaways from Disposable Blood Bags Market Study
- Globally, Asia Pacific is expected to lead the global disposable blood bags market throughout the forecast period, owing to increasing number of voluntary and repeat blood donors in countries such as India and Bangladesh.
- Based on sales channels, the tender sales channel segment is expected to contribute maximum to the global market for disposable blood bags. This is attributed to lower cost of blood bags for tender-based purchasing.
- Among the various end users, disposable blood bags find maximum opportunity in blood banks, followed by non-governmental organizations. Demand from blood banks for disposable blood bags is expected to increase significantly over the forecast period, due to increasing voluntary blood donation as a result of improving services offered by public and private blood banks.
- Significant delays and rescheduling of diagnosis and treatment of blood-related diseases due to priority given to COVID-19 treatment will lead to short-term decline in the growth of the disposable blood bags market.
“Key players in the global disposable blood bags market are focusing on expansion of business in emerging markets and on providing value-added products,” says a PMR analyst.
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What Does the Future Hold?
Increasing prevalence of blood-related disorders such as blood cancer, anemia, sickle cell disease, hemophilia, and other rare blood disorders is fueling the demand for blood. However, the availability of blood units, especially in Asian countries, is significantly lower than countries in other regions. Owing to lower than required availability of blood units and rising prevalence of blood-related disorders, the demand for blood collection bags, especially in Asian countries, is expected to increase significantly over the forecast period.
What Else is in the Report?
Persistence Market Research offers a unique perspective and actionable insights on the disposable blood bags market in its latest study, presenting historical demand assessment of 2015–2019 and projections for 2020–2030, based on collection bag (collection bags and transfer bags), end user (blood banks, hospitals, and NGOs, and channel (tender sales and private sales), across seven key regions.
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