Transfusion is the process of transfer of blood or any of its components from a donor to a recipient patient. This medical procedure is used in order to replace the blood lost after surgery or an accident. Disposable transfusion products are increasingly being developed as they are highly preferred by healthcare providers on account of their property to maintain a sterilized environment for the blood while collecting, storing and transferring blood. During the transfusion procedure, the patient receives filtered elements of the blood that are required by them. These are delivered to the patient independently and these components include: red blood cells, platelets, granulocytes, plasma and albumin among others.
The transfusion disposable products market is anticipated to record a significant CAGR over the forecast period, i.e., 2019-2027. The market is segmented by product, by end user and by region. On the basis of end user, the market is segmented into hospitals, ambulatory surgical centers, clinics, blood banks and others, out of which, the hospitals segment is anticipated to hold the largest share in the transfusion disposable products market on account of growing number of accidents and surgeries in hospitals that require blood transfusions. For instance, the rising incidences of road accidents which lead to deaths and injuries all across the globe result in increasing number of patients in hospitals. The 2018 global status report on road safety by the World Health Organization states that the number of deaths resulting from road traffic crashes have increased to 1.35 million every year. According to this, around 3,700 people die on roads and more than 50 million people get injured all around the world every day. Moreover, the report states that the number of road traffic deaths among the high and middle-income countries have witnessed a reduction in the past few years as compared to low-income countries. Moreover, the various blood-related disorders among the population further increase the demand for transfusion procedures. These factors are estimated to bring about the growth of this segment during the forecast period. CLICK TO DOWNLOAD SAMPLE REPORT
The substantial increase in the number of blood-related disorders raise the demand for blood transfusion. According to Centers for Disease Control and Prevention, the total number of deaths from anemia in the United States were reported to be 5,382 in 2017. Out of these, 2,029 cases were reported to among those aged 85 and above. The rising cases of anemia and other such disorders require blood transfusion for their treatment which is therefore anticipated to increase the growth of transfusion disposable products market.
In order to eliminate the risk of contamination, there is an increase in the demand for transfusion products that are disposable so as to ensure a sterile blood transfusion procedure. This is an additional important factor which is anticipated to lead towards the growth of the market during the forecast period.
Blood transfusions can lead to complications which might arise from infections and contamination of donor blood. Along with these factors, the unhealthy practices involving the storage of blood are further anticipated to restrict the growth of the market.
Our in-depth analysis of the transfusion disposable products market includes the following segments:
On the basis of regional analysis, the transfusion disposable products market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region.
The leading share in the transfusion disposable products market is anticipated to be held by the market in North America on account of growing demand for disposable blood bags and rising number of blood transfusions conducted in the region. Further, the increasing research and development activities in the region, mainly in the United States, is an additional factor estimated to raise the market growth. Moreover, the market in Asia-Pacific region is estimated to grow at a significantly high rate as a result of rising number of road accidents and health disorders that involve blood contamination or loss. The growing healthcare expenditure in the region, for instance, in countries such as China, Japan and India, is another factor which is anticipated to support the increasing usage of disposable medical products.
The transfusion disposable products market is further classified on the basis of region as follows:
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