Global Blood Collection Monitor Market Highlights Over 2022 - 2031
The global blood collection monitor market is estimated to garner a large amount of revenue by growing at a significant CAGR over the forecast period, i.e., 2022 – 2031. The growth of the market can be attributed to the increasing prevalence of blood disorders, which in turn is evaluated to raise the demand for blood transfusion therapies. In 2019, about 200,000 people in the world were diagnosed with hemophilia and about 81,000 with von Willebrand disease, both of which are common types of bleeding disorders. Along with these, growing number of critical life-saving surgical procedures performed globally, especially among geriatric population who are more prone to various diseases, is also expected to drive market growth in the forthcoming years. Furthermore, escalating technological advancements in the healthcare sector, particularly in developed and developing nations, for blood collection procedures and products is projected to offer profitable opportunities to the market in the near future.
The market is segmented by end user into hospitals, research clinics, laboratories, and others, out of which, the hospitals segment is anticipated to hold the largest share in the global blood collection monitor market. This can be accounted to the increasing number of cases of infectious diseases and trauma cases, which in turn is predicted to ensure the demand for blood collection devices and equipment in hospital facilities. Additionally, on the basis of calibration type, the automated weight calibration segment is assessed to observe significant growth during the forecast period, which can be credited to the fact that automating weight calibration minimize errors such as imprecise placement and weight mix-ups. CLICK TO DOWNLOAD SAMPLE REPORT
Major Macro-Economic Indicators Impacting the Market Growth
According to the statistics by the World Health Organization, the global per capita healthcare expenditure amounted to USD 1,064.741 in the year 2017. The worldwide healthcare expenditure per person grew from USD 864.313 in 2008 to USD 1,110.841 in 2018, where the U.S. is the top country that amounted to healthcare expenditure of USD 10, 623.85 per capita in 2018. As of 2018, the domestic general government healthcare spending in the U.S. was USD 5355.79, which grew from USD 3515.82 in 2008. These are some of the factors responsible for market growth over the past few years. Moreover, as per the projections by the Centers for Medicare & Medicaid Services (CMS), the estimated average annual percent change related to National Health Expenditures (NHE) in the U.S. was 5.2% in 2020 as compared to 2019 (4.5%). Furthermore, the National Health Expenditures are projected to reach USD 6,192.5 Billion in 2028, where the per capita expenditure is estimated to touch USD 17,611 in the same year. These are notable indicators that are anticipated to create lucrative business opportunities in upcoming years.
Global Blood Collection Monitor Market Regional Synopsis
Regionally, the global blood collection monitor market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and the Middle East & Africa region. The market in Asia Pacific is estimated to witness noteworthy growth over the forecast period on the back of the rapidly rising population of elderly people, and growing awareness about the device in the region. According to the World Health Organization (WHO), the percentage of people aged 60 years or above was 9.8% in 2017, which is anticipated to increase to 13.7% and 20.3% by 2030 and by 2050, respectively. Moreover, the market in North America is expected to gather the largest share during the forecast period owing to the large number of people undertaking blood transfusion procedures, and high healthcare spending in the region. In addition, strong presence of prominent market players is also projected to fuel the market growth in the region in the coming years.
The global blood collection monitor market is further classified on the basis of region as follows:
Our in-depth analysis of the global blood collection monitor market includes the following segments:
By Calibration Type
By End User
Top Featured Companies Dominating the Market
FREQUENTLY ASKED QUESTIONS
The major factors driving market growth are increasing prevalence of blood disorders, and growing number of critical life-saving surgical procedures performed globally.
The market is anticipated to attain a CAGR of ~7% over the forecast period, i.e., 2022-2031.
The major players in the market are Fresenius Kabi AG, Becton, Dickinson and Company, Grifols S.A., Quest Diagnostics, Inc., Nipro Medical Corporation, and others.
The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
The market is segmented by calibration type, end user, and by region.
The hospitals segment is anticipated to hold largest market size and is estimated grow at a steady CAGR over the forecast period and display significant growth opportunities.
High cost of automated blood collection monitors is estimated to hamper the market growth.
Asia Pacific will provide more business opportunities for market growth owing to the rapidly rising population of elderly people, and growing awareness about the device in the region.
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