According to the latest report published by Credence Research, Inc. “Blood Processing Devices and Consumables Market – Growth, Future Prospects and Competitive Analysis, 2018-2026,” the global blood processing devices and consumables market is projected to reach US$ 64.25 Bn by 2026, expanding at a CAGR of 7.9% from 2018 to 2026.
Blood processing devices and consumables market projected to reach US$ 64.25 Bn by 2026 with CAGR of 7.9% during the forecast period from 2018 to 2026. It was studied that, the demand for automated blood processing devices is higher in the market due to their better accuracy, faster activity result delivery, and specificity. At present, blood cell processers are the largest revenue generating segment due to technological advancement in laboratory devices. Blood bags is the fastest growing segment, as it guarantees sterility in transfusion and have effectively supplanted the utilization of glass bottles in transfusion process. Along these lines, blood bags have picked up part of force because of its ability in keeping up blood security and quality.
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Global blood processing devices and consumables market from 2018 to 2026 study is based on thorough analysis with insights from manufacturing stockholders. The comprehensive study includes the growth scenarios and market landscape during the forecast period from 2018 to 2026.
As indicated by WHO, 16 nations around the globe can’t screen the donated blood for at least one or more contaminations. WHO recognized sporadic supply of test kits is the factor ascribed to this deficiency. The blood and transfusion safety program of WHO bolsters nations in creating national blood system to guarantee quality blood processing and transfusion operations.
Based on the product type, the global blood processing devices and consumables market is segmented into devices and consumables. The devices studied in this report are sub-segmented into blood cell processors, blood cell analyzers, blood bank refrigerators, freezers, warmers, and hematocrit centrifuges. Additionally, the consumables studied in this report is sub-segmented into reagents, blood lancets, blood mixer, blood collection tubes, blood collection needles, blood bags, and others(sedimentation tubes, vials, slides). Rising incidence of infectious diseases such as HIV, sickle cell anemia, and hepatitis would additionally boost the blood processing devices and consumables market.
Geographically, North America held the largest share in terms of revenue in 2017 and projected to remain stable during the forecast period due to greater demand for specific blood-derived products, and the domicile of major market players. However, the supremacy of North America will be clearly confronted by the Europe. Owing to the strong government support in terms of evolved ‘national blood policy’ covering safety and quality of blood transfusion, there are high chances for market penetration in countries like Mexico, India, and China to the market occupiers at present having a grip in developed countries. The need for blood processing devices and consumables has become prominent in the Asia Pacific owing to continuous rise in the population, high incidence of infectious diseases and number of awareness programs conducted in the region that will boost market during the forecast period from 2018 to 2026.
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