Blood Bags Market Research Report 2023
Blood Bags Market Size By Type (Collection Bag, Transfer Bag), Product (Single Blood Bag, Double Blood Bag, Triple Blood Bag, Quadruple Blood Bag, Penta Blood Bag), Volume (100ml -250ml, 251ml - 350ml, 351ml - 450ml), Material (PVC, PET, Others), End-User (Hospitals, Clinics, Ambulatory Surgical Centre, Blood Banks, Others) And Region Global Market Analysis And Forecast, 2023-2030
Blood Bags Market Synopsis
The Global Blood Bags Market size is expected to grow from USD 243.19 Million in 2023 to USD 339.92 Million by 2030, at a CAGR of 4.90% during the forecast period (2023-2030).
Blood bags are used for the reliable collection, separation, storage, and transport of blood. These bags are made of sterile, flexible plastic materials and are designed to preserve the quality and safety of the blood until it is transfused into a patient.
- Blood bags typically consist of two compartments is one for collecting the blood and another for an anticoagulant solution, which helps prevent the blood from clotting. The bags may also contain other additives, such as preservatives or nutrients, to extend the shelf life of the blood or improve its quality.
- Blood bags are a critical component of the blood supply chain, enabling the safe and efficient collection and distribution of blood products to hospitals and medical facilities around the world.
- Blood bags are mostly available in the form of Citrate Phosphate Dextrose Adenine (CPDA) blood bags, Saline Adenine Glucose Mannitol (SAGM) blood bags, and transfer bags.
- They have revolutionized the field of transfusion medicine and have helped to save countless lives by providing patients with the blood products they need to recover from injury, illness, and surgery.
Top Key Players Involved Are:
"Terumo Corporation (Japan), Haemonetics Corporation (U.S.), Fresenius SE & Co. KGaA (Germany), Macopharma SA (France), Grifols, S.A. (Spain), Kawasumi Laboratories Inc. (Japan), Shanghai Transfusion Technology Co. Ltd. (China), Neomedic Limited (UK), Poly Medicure Limited (India), Genesis BPS (USA), AdvaCare Pharma (U.S.), AventaMed Ltd. (Ireland), SURU International Private Limited (India), Henan Shuguang Jianshi Medical Equipment Group Co., Ltd. (China), Shanghai Transfusion Technology Co. Ltd. (China), Fresenius Kabi AG (Germany), Wego Group (China), HLL Lifecare Limited (India), Span Healthcare Private Limited (India), ACON Laboratories Inc. (U.S.) And Other Major Players."
Blood Bags Market Trend Analysis
The Increasing Demand for Transfusion Services
- Blood transfusions are essential in many medical procedures, including surgeries, cancer treatments, and emergency care. As the global population grows and ages, the demand for transfusion services is expected to increase, driving demand for blood bags and related products.
- Additionally, there is an increasing awareness of the importance of safe and effective blood collection, processing, and transfusion. This has led to the adoption of stringent regulatory standards for blood bags and related products, which is driving innovation and growth in the market.
- Moreover, the increasing prevalence of chronic diseases such as cancer, blood disorders, and autoimmune diseases, and the rising number of traumatic injuries are also driving the demand for blood transfusions. This is expected to increase the demand for blood bags and related products as well.
- In summary, the increasing demand for transfusion services, growing awareness of the importance of safe and effective blood collection and transfusion, and the rising prevalence of chronic diseases and traumatic injuries are all factors that are fueling the growth of the blood bag market.
Increasing Initiatives By Governments And Private Healthcare Bodies
- Governments and healthcare governing bodies are taking steps to ensure the safety and quality of blood transfusions, and this is driving demand for blood bags and related products.
- Many countries have established regulatory bodies to oversee blood collection, processing, and transfusion responsible for setting and enforcing standards for blood bags and related products, ensuring they are safe and effective for transfusions. This has led to increased demand for blood bags that meet these regulatory standards.
- Moreover, many governments and healthcare organizations are investing in programs to promote blood donation and increase the availability of blood products. These initiatives include public awareness campaigns, blood donation drives, and the establishment of blood banks and transfusion centers.
- In addition, advancements in technology and manufacturing processes are also creating new opportunities for the blood bag market. The development of new materials and manufacturing techniques is enabling the production of blood bags that are more durable, flexible, and cost-effective.
- In conclusion, the increasing initiatives by governments and private healthcare governing bodies are creating significant opportunities for the blood bag market, by driving demand for safe and effective blood bags and related products.
Segmentation Analysis of The Blood Bags Market
Blood Bags Market segments cover the Type, Product, Volume, Material, and End-User. By Type, the Collection Bag segment is Anticipated to Dominate the Market Over the Forecast period.
- Apheresis is a medical procedure that involves the separation of blood into its components, commonly used to treat patients with blood disorders or diseases and it requires specialized collection bags that are designed to separate the various blood components.
- In addition, whole blood collection bags are commonly used for blood donation drives and in blood banks, where they are used to collect and store donated blood. The demand for whole blood collection bags is expected to increase.
- Furthermore, governments and healthcare organizations are implementing stringent regulations and guidelines for blood collection, processing, and transfusion, which is driving the adoption of specialized collection bags that are designed to meet these standards.
- Overall, the collection bag segment is anticipated to dominate the blood bag market, driven by the increasing demand for whole blood collection and apheresis procedures, as well as the growing focus on blood safety and quality.
Regional Analysis of The Blood Bags Market
North America is Expected to Dominate the Market Over the Forecast Period.
- This can be attributed to several factors, including the well-established healthcare infrastructure, favorable government policies, and increasing demand for blood transfusions.
- The United States and Canada have well-developed healthcare systems that provide advanced medical treatments and procedures, including blood transfusions. The demand is expected to increase in the region due to the rising prevalence of chronic diseases and the aging population, which are driving the demand for transfusion services.
- Moreover, the regulatory bodies in North America, such as the US Food and Drug Administration (FDA) and Health Canada, are implementing stringent guidelines and regulations for blood collection, processing, and transfusion.
- Also, there is a significant focus on blood safety and quality in North America, which is driving innovation in the blood bag market.
- Hence, well-established healthcare infrastructure, favorable government policies, increasing demand for transfusion services, stringent regulatory standards, and focus on blood safety and quality are all contributing to the dominance of North America in the blood bag market over the forecast period.
Covid-19 Impact Analysis on the Blood Bags Market
- During the Covid-19 Period, the cancellation of elective surgeries and non-essential medical procedures due to the pandemic has led to a decrease in demand for blood transfusions. This has resulted in a temporary slowdown in the blood-bag market.
- On the other hand, the COVID-19 pandemic has also led to an increase in demand for blood transfusions in some cases, particularly in patients with severe COVID-19 symptoms who require oxygen support or mechanical ventilation. In addition, patients with other medical conditions, such as cancer or blood disorders, still require blood transfusions despite the pandemic.
- Certainly, the COVID-19 pandemic has had a mixed impact on the blood bag market, with a temporary slowdown in demand due to the cancellation of non-essential medical procedures, but also an increase in demand for blood transfusions in some cases. However, the pandemic has also highlighted the importance of blood safety and quality, which is expected to drive the growth of the blood bag market in the long term.
Top Key Players Covered in The Blood Bags Market
- Terumo Corporation (Japan)
- Haemonetics Corporation (U.S.)
- Fresenius SE & Co. KGaA (Germany)
- Macopharma SA (France)
- Grifols S.A. (Spain)
- Kawasumi Laboratories Inc. (Japan)
- Shanghai Transfusion Technology Co. Ltd. (China)
- Neomedic Limited (UK)
- Poly Medicure Limited (India)
- Genesis BPS (USA)
- AdvaCare Pharma (U.S.)
- AventaMed Ltd. (Ireland)
- SURU International Private Limited (India)
- Henan Shuguang Jianshi Medical Equipment Group Co. Ltd. (China)
- Shanghai Transfusion Technology Co. Ltd. (China)
- Fresenius Kabi AG (Germany)
- Wego Group (China)
- HLL Lifecare Limited (India)
- Span Healthcare Private Limited (India)
- ACON Laboratories Inc. (U.S.), And Other Major Players.
Key Industry Developments in the Blood Bags Market
In January 2023, Terumo and Siemens Healthineers India are partnering to strengthen cardiac care in India through collaborative interventions in the areas of physician training and development, access to advanced medical technologies, and improved penetration of Tier 2 and 3 cities.
In October 2022, Haemonetics Appoints Roy Galvin as President, of Global Plasma and Blood Centre. Galvin will have responsibility for driving the Company's transformational growth objectives and advancing the Company's leadership positions and innovation through its plasma collection and donor management solutions, delivering on collectors' critical needs and supporting global demand for plasma-derived therapies.
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Global Blood Bags Market |
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Base Year: |
2022 |
Forecast Period: |
2023-2030 |
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Historical Data: |
2016 to 2021 |
Market Size in 2023: |
USD 243.19 Mn. |
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Forecast Period 2022-30 CAGR: |
4.90% |
Market Size in 2030: |
USD 339.92 Mn. |
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Segments Covered: |
By Type |
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By Product |
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By Volume |
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By Material |
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By End-User |
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By Region |
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Global Blood Bags Market |
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Base Year: |
2022 |
Forecast Period: |
2023-2030 |
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Historical Data: |
2016 to 2021 |
Market Size in 2023: |
USD 243.19 Mn. |
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Forecast Period 2022-30 CAGR: |
4.90% |
Market Size in 2030: |
USD 339.92 Mn. |
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Segments Covered: |
By Type |
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By Product |
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By Volume |
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By Material |
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By End-User |
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By Region |
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Key Market Drivers: |
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Key Market Restraints: |
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Key Opportunities: |
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Companies Covered in the Report: |
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Chapter 1: Introduction
1.1 Research Objectives
1.2 Research Methodology
1.3 Research Process
1.4 Scope and Coverage
1.4.1 Market Definition
1.4.2 Key Questions Answered
1.5 Market Segmentation
Chapter 2:Executive Summary
Chapter 3:Growth Opportunities By Segment
3.1 By Type
3.2 By Product
3.3 By Volume
3.4 By Material
3.5 By End-User
Chapter 4: Market Landscape
4.1 Porter's Five Forces Analysis
4.1.1 Bargaining Power of Supplier
4.1.2 Threat of New Entrants
4.1.3 Threat of Substitutes
4.1.4 Competitive Rivalry
4.1.5 Bargaining Power Among Buyers
4.2 Industry Value Chain Analysis
4.3 Market Dynamics
4.3.1 Drivers
4.3.2 Restraints
4.3.3 Opportunities
4.5.4 Challenges
4.4 Pestle Analysis
4.5
Frequently Asked Questions
What would be the forecast period in the Blood Bags Market research report?
The forecast period in the Blood Bags Market research report is 2022-2030.
Who are the key players in Blood Bags Market?
Terumo Corporation (Japan), Haemonetics Corporation (U.S.), Fresenius SE & Co. KGaA (Germany), Macopharma SA (France), Grifols, S.A. (Spain), Kawasumi Laboratories Inc. (Japan), Shanghai Transfusion Technology Co. Ltd. (China), Neomedic Limited (UK), Poly Medicure Limited (India), Genesis BPS (USA), AdvaCare Pharma (U.S.), AventaMed Ltd. (Ireland), SURU International Private Limited (India), Henan Shuguang Jianshi Medical Equipment Group Co., Ltd. (China), Shanghai Transfusion Technology Co. Ltd. (China), Fresenius Kabi AG (Germany), Wego Group (China), HLL Lifecare Limited (India), Span Healthcare Private Limited (India), ACON Laboratories Inc. (U.S.), And Other Major Players
What are the segments of the Blood Bags Market?
The Blood Bags Market is segmented into Type, Product, Volume, Material, End-User, and Region. By Type, the market is categorized into Collection Bag and Transfer Bag. By Product, the market is categorized into Single Blood Bag, Double Blood Bag, Triple Blood Bag, Quadruple Blood Bag, and Penta Blood Bag. By Volume, the market is categorized into 100ml -250ml, 251ml - 350ml, 351ml - 450ml. By Material, the market is categorized into PVC, PET, and Others. By End-User, the market is categorized into Hospitals, Clinics, Ambulatory Surgical Centre, Blood Banks, and Others. By region, it is analyzed across North America (U.S.; Canada; Mexico), Eastern Europe (Bulgaria, The Czech Republic, Hungary, Poland, Romania, Rest of Eastern Europe) Western Europe (Germany, UK, France, Netherlands, Italy, Russia, Spain, Rest of Western Europe), Asia-Pacific (China; India; Japan; Southeast Asia, etc.), South America (Brazil; Argentina, etc.), Middle East & Africa (Saudi Arabia; South Africa, etc.).
What is the Blood Bags Market?
Blood bags are used for the reliable collection, separation, storage, and transport of blood. These bags are made of sterile, flexible plastic materials and are designed to preserve the quality and safety of the blood until it is transfused into a patient.
How big is the Blood Bags Market?
The Global Blood Bags Market size is expected to grow from USD 243.19 Million in 2023 to USD 339.92 Million by 2030, at a CAGR of 4.90% during the forecast period (2023-2030).
