Blood Processing Devices & Consumables Market Is Projected To Grow Due To Automations In Blood Processing Equipment Till 2022: Grand View Research, Inc.
The global blood processing devices and consumables market is
expected to reach USD 51.0 billion by 2022 growing at an estimated CAGR of 7.8%
from 2015 to 2022, according to a new report by Grand View Research, Inc. This
expected rise in demand can be ascribed to increasing incidence of chronic
oncology diseases and other infections that are dependent on transfusion &
surgery for treatment.
Higher usages of techniques such
as stem cell therapy and organ transplantation also contribute towards boosting
demand in the sector, and in turn leading to growth. Rapid introduction of
advancements and automations in blood processing equipment is further expected
to enhance potential for growth in this market during the forecast
period.
Rise in government initiated
awareness programs and incentives for blood donation and transfusion are
attributive to fuel demand in this industry. Furthermore, provision of
comparatively better reimbursement policies is also a high impact rendering
driver for anticipated progress.
North America Blood Processing Market, By Consumable,
2012-2022 (USD Million)
Browse full research report on Blood
Processing Devices & Consumables Market
Further key findings from the report suggest:
- Devices
accounted for over 60% of the revenue generated in this sector for 2014.
This large share can be attributed to the introduction and
commercialization of technologically advanced automated laboratory
equipment. Furthermore, presence of highly differentiated product
portfolios offered by industry participants is also responsible for this
large share in revenue.
- Cell
processors contributed for over 17% of the revenue generated in the market
in 2014. Higher usage of this product for processing various plasma
components such as RBC’s and WBC’s in order to treat cell associated
disorders and deficiencies is attributive towards its comparatively larger
share. Furthermore, incorporation of automated algorithms to aid efficient
cell purging and processing is anticipated to drive segment demand through
to 2022.
- Consumables
are expected to register lucrative growth in the coming years owing to
rise in R&D prospects in administration sets, hematology reagents, and
filters. Technological advancements in these products for enhancing blood
transfusion are anticipated to drive growth in revenue.
- North America
accounted for over 33% of revenue generated in 2014. Key factors
attributing to its large share include increasing incidence of chronic
infections critical hospital emergencies and road accidents thus
subsequently higher demand for blood and blood components. Furthermore,
presence of large number of market participants headquartered in the U.S.
result in generation of significant revenue in this region.
- Asia Pacific
is expected to witness lucrative CAGR of over 8% from 2015 to 2022 due to
rise in awareness amongst the population regarding blood donation and
improvement in government incentives in developing nations of this region
for rapid improvement in health care infrastructure.
- Key
participants of the blood processing devices & consumables market are
Abbott Laboratories, BioMerieux SA, Bio-Rad Laboratories, Roche Holdings
AG, Haemonetics Corporation, Danaher Corporation, Becton, Dickinson And
Company, Immucor, Inc., Grifols International, Macopharma SA, Terumo
Corporation, and Thermogenesis Corporation.
- These
participants are involved in R&D for development of efficient software
solutions for hospitals and blood repositories in order to manage the
operational efficiency and manage shrinking donor pool and thus
influencing sector growth.
For more information: http://www.grandviewresearch.com
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