Blood bag systems are disposable bio-medical products designed for the collection, storage, transportation, and transfusion of human blood and blood-derived products. Disposable blood bags are utilized in hospitals, blood banks, government programs, and by non-governmental organizations (NGOs) the collected during blood donation programs.
Government-funded initiatives across various Asian countries are focused on the development of blood separation technologies to decrease imports of blood components from developed countries. Furthermore, government initiatives are supporting voluntary blood collection campaigns, which is fueling the demand for blood bags in the region. High income countries are anticipated to gain traction in terms of blood component collection bags, due to high number of blood collection initiatives. Blood collected can be used for deriving blood components such as platelets and plasma, and this is expected to expand the disposable blood bags market size over the coming years.
Disposable Blood Bags Market Drivers
Increasing prevalence of blood-related disorders and rising demand for blood collection and transfer bags are expected to drive the growth of the global disposable blood bags market during the forecast period (2020–2030). Additionally, increasing demand for blood-derived products and surge in transfusion procedures are expected to fuel the demand for disposable blood bags over the coming years. Factors such as increasing incidence of trauma/accidental injuries and tender-based purchases by governments of developing countries, coupled with customized blood bags with tracking systems offered by blood bag manufacturers and easy availability of value-added products for blood collection are expected to boost growth of the global disposable blood bags market.
Government encouragement for increasing the usage of biocompatible PVC blood bags, and low prices of plastic blood bags, owing to tender-based purchases, are factors expected to fuel the demand for blood bags in the times ahead.
Disposable Blood Bags Market Restraints
On the downside, factors such as lack of infrastructure facilities for blood collection and storage, and low awareness about voluntary blood donation initiatives are expected to hamper the growth of the global disposable blood bags market over the coming years.
Regional Outlook of Disposable Blood Bags Market
APAC is estimated to dominate with over 35% of the global disposable blood bags market share in 2020. Owing to a large number of local players operating in China, growth of the APAC disposable blood bags market over the forecast period is expected to be significantly high in terms of revenue and volume.
The markets in North America and Europe are expected to register significant growth over the forecast period, owing to increasing demand for blood and blood components. Global demand for disposable blood bags is expected to grow continuously over the forecast period, due to improvement in product features such as value-added blood collection bags with in-line leucocyte filtration systems, customized blood bags with tracking systems, etc.
Competitive Landscape of Disposable Blood Bags Market
Some of the key players identified in the global disposable blood bags market report are Fresenius SE & Co. KGaA, Terumo Corporation, Grifols, S.A., MacoPharma, S.A., HLL Lifecare Limited, Poly Medicure Limited, INNVOL Medical India Limited, and Span Healthcare Private Limited.
Manufacturers are competing on the basis of pricing to secure contracts from government organizations. Blood bag manufacturers in Asia Pacific are majorly focused toward exports due to significant opportunity in European countries. Suppliers and distributors dealing in medical consumable supplies are targeting private hospitals, clinics, and blood collection centers for offering blood bags. However, the distribution margin for suppliers in private sales tends to be low, owing to lower volume purchases.
COVID-19 Impact on Disposable Blood Bags Market
The most unprecedented operational and economic challenges followed the onset of the global COVID-19 pandemic. Also, considerable time is needed for the development and commercialization of effective treatment options for new pathogens. In addition, local government redirection of healthcare resources toward COVID-19 treatment is also expected to engage most healthcare workers to tackle the outbreak. This uncertainty is expected to delay and reschedule the diagnosis and treatment of blood-related health conditions for the coming two to three quarters.
The disposable blood bags market is expected to pick pace post-pandemic in the second-half of 2021, owing to the availability of treatment and recovery of developed and emerging economies from the COVID-19 pandemic.
Manufacturers are focused on manufacturing cost-effective blood bags to secure government contracts. Furthermore, companies operating in the blood collection product manufacturing market are focusing on capacity expansion, owing to substantially high demand for blood banking products. The global disposable blood bags market is set to expand nearly threefold by 2030, with Asia, North America, and Europe leading the way.
Disposable Blood Bags Market - Scope of the Report
Persistence Market Research (PMR) recently published a market study on the global disposable blood bags market. The study provides detailed assessment of key market dynamics, including the drivers, trends, opportunities restraints, and detailed information about the disposable blood bags market structure. The market study presents exclusive information about how the disposable blood bags market will grow during the forecast period (2020-2030).
Key indicators of market growth, which include Year-on-Year (Y-o-Y) growth of the market and compound annual growth rate (CAGR) are explained in PMR’s study in a comprehensive manner. Other information includes definitions, drivers, and opportunity analysis by region and by product, which helps in the deep understanding of the market segment details by researchers, suppliers, manufactures, and distributors. This information can help readers understand the quantitative growth prospects of the disposable blood bags market during the forecast period.
The study is relevant for manufacturers, physicians, suppliers, distributors, and investors, and can help them in developing appropriate strategies to grow in the market. Business researchers, shareholders, and industry experts can leverage the information and data presented in PMR’s study.
The study also includes statistics as well as facts related to the macroeconomics factors that are impacting developments in the market. It also offers actionable insights based on the future trends in the disposable blood bags market. Furthermore, small businesses and new entrants in the disposable blood bags market too can make use of the information presented in this study, based on which, they can make appropriate business decisions in order to gain momentum in the market.
PMR’s study on the disposable blood bags market offers information divided into four important segments—collection bag, channel, end user, and region. This report offers comprehensive data and information about the important market dynamics and growth parameters associated with these categories.
Key Segments of Disposable Blood Bags Market
Questions Answered in PMR’s Disposable Blood Bags Market Report
Disposable Blood Bags Market: Research Methodology
In PMR’s study, a unique research methodology is utilized to conduct extensive research on the growth of the disposable blood bags market, and reach conclusions on the future growth parameters of the market. This research methodology is a combination of primary and secondary research, which helps analysts ensure accuracy and reliability of the conclusions.
Secondary resources referred to by analysts during the production of the disposable blood bags market study include statistics from government healthcare organizations, medicines journals, research journals, press releases, annual reports, white papers, directories, and databases. Analysts have interviewed senior managers, product portfolio managers, CEOs, VPs, marketing/product managers, and market intelligence managers, who contributed to the development of this report as a primary resource.
Comprehensive information acquired from primary and secondary resources acts as validation from companies in the disposable blood bags market, and makes PMR’s projections on the growth prospects of the disposable blood bags market more accurate and reliable.