Market Definition
Blood temperature indicators are medical devices that are directly attached to blood bags for real-time measurement of temperature during storage, handling, and transportation operations. The demand for these devices is rapidly increasing across the medical & healthcare sector, owing to their ability to ensure consistent analysis & recording of blood temperature.
Market Outlook
Blood Temperature Indicator market was valued at USD 210 million in 2021 and it is anticipated to grow further till USD 600 million by 2031, at a CAGR of 11.1% during the forecast period.
Due to rising smoking rates, exposure to dangerous chemicals like benzene, and radiation exposure, blood-related disorders like blood cancer, sickle cell disease, thrombocytopenia, and anemia are becoming more and more common all over the world. For instance, research by the Leukemia & Lymphoma Society predicted that in the United States, blood cancer will affect about 186,400 persons in 2021, or about 9.8% of all cancer cases.
There is a rapid increase in demand for blood and blood components for the treatment of these aforementioned disorders as a result of this expanding burden. The prevalence of such disorders is anticipated to drive up sales in the global market since blood temperature indicators are widely used in blood banks and blood collection sites to gauge blood temperature and check blood quality.
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Research Objectives
- Estimates and forecast the overall market size for the total market, across product, service type, type, end-user, and region
- Detailed information and key takeaways on qualitative and quantitative trends, dynamics, business framework, competitive landscape, and company profiling
- Identify factors influencing market growth and challenges, opportunities, drivers and restraints
- Identify factors that could limit company participation in identified international markets to help properly calibrate market share expectations and growth rates
- Trace and evaluate key development strategies like acquisitions, product launches, mergers, collaborations, business expansions, agreements, partnerships, and R&D activities
- Thoroughly analyze smaller market segments strategically, focusing on their potential, individual patterns of growth, and impact on the overall market
- To thoroughly outline the competitive landscape within the market, including an assessment of business and corporate strategies, aimed at monitoring and dissecting competitive advancements.
- Identify the primary market participants, based on their business objectives, regional footprint, product offerings, and strategic initiatives
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Global Blood Temperature Indicator Market Segmental Overview
The report analyses the global blood temperature indicator market based on the material, threshold temperature range, end user, and region.
Global Blood Temperature Indicator Market by Material
Based on the material, it is segmented into polypropylene, polyethylene, and others. The polypropylene segment is anticipated to dominate the market during the forecast period. The healthcare sector is highly concerned about safety, and governmental authorities are constantly monitoring it. As a result, specialty clinics and healthcare facilities are increasingly using blood temperature indicators.
Global Blood Temperature Indicator Market by Threshold Temperature Range
Based on the threshold temperature range, it is segmented into Up to 2°C, 2°C to 4°C, 5°C to 7°C and Above 7°C. The Up to 2°C segment is anticipated to dominate the market during the forecast period. The key factors such as increasing incidences of road accidents and rise in blood transfusion activities is boosting the growth of the market.
Global Blood Temperature Indicator Market by End User
Based on the end user, it is segmented into hospitals, clinics, blood banks, blood collection centers, diagnostic lab, and others. The hospital end user segment is anticipated to dominate the market during the forecast period. The key factors such as increasing product launches coupled with advanced connectivity and multi-functional features are boosting the growth of the market.
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Major Players in the Global Blood Temperature Indicator Market
The key players studied in the report are Elitech, Thermo Fisher Scientific Inc., Sercalia, Ellab Group, Zebra Technologies Corporation, Lisaline Lifesciences Technologies, Stream Peak International PTE Ltd, 3M, Delta Trak Inc., and Time Strip UK Ltd among others.
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Research Scope
- Scope – Highlights, Trends, Insights. Attractiveness, Forecast
- Market Sizing – Product Type, End User, Offering Type, Technology, Region, Country, Others
- Market Dynamics – Market Segmentation, Demand and Supply, Bargaining Power of Buyers and Sellers, Drivers, Restraints, Opportunities, Threat Analysis, Impact Analysis, Porters 5 Forces, Ansoff Analysis, Supply Chain
- Business Framework – Case Studies, Regulatory Landscape, Pricing, Policies and Regulations, New Product Launches. M&As, Recent Developments
- Competitive Landscape – Market Share Analysis, Market Leaders, Emerging Players, Vendor Benchmarking, Developmental Strategy Benchmarking, PESTLE Analysis, Value Chain Analysis
- Company Profiles – Overview, Business Segments, Business Performance, Product Offering, Key Developmental Strategies, SWOT Analysis.
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