Disposable plastic bags of blood refer to devices for biomedical services used for storage, collection, transportation as well as blood transfusion along with components viz. RBCs, WBCs and platelets. These kind of blood bags are basically made up of PVC (polyvinyl chloride) and plastic materials.
Also, the process of manufacturing for these blood bags includes extrusion, welding, sterilization, compounding, molding, solution, and inspection for contamination.
The global market for disposable plastic bags of blood in 2014 recorded revenues worth USD 2, 44,286.8 thousand, which are expected to raise up to USD 4, 13,084.8 thousand by the end of 2020. Over the forecast period 2014-2020, the global disposable plastic bags of blood market will expand at a healthy CAGR of 9.1%.
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Some of the major players in the disposable plastic blood bags market:
- Terumo Corporation.
- Fresenius SE & Co.
- MacoPharma SA.
- Haemonetics Corporation.
These key market players have been profiled on the basis of attributes such as company overview, recent developments, growth strategies, sustainability and financial overview.
Key Market Dynamics
Globally, the market for disposable plastic bags of blood to see substantial market growth owing to growing prevalence of lifestyle and chronic diseases, increasing rising population of aging and advanced features of these kind of blood bags. Additionally, rising government associations initiatives regarding spreading awareness among people about blood donation importance are factors that are driving the market for disposable plastic bags of blood.
However, certain factors viz. risks related with transfusion of blood, less awareness, less blood collection and poor infrastructure of blood storage across the globe are hampering the market growth for disposable plastic bags of blood. Also, lack of infrastructure related to primary healthcare in certain developing countries have negative impact on the market growth for disposable plastic bags of blood.
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The global market for disposable plastic bags of blood is categorized on the basis of product type and end user type. Based on the product type, the global market for disposable plastic bags of blood is segmented into Single, Double, Triple and Quadruple Blood Bags. And based on end user type, the segmentation of global disposable plastic bags of blood market is done into Blood Banks, Hospital and Healthcare Institutes and Home Healthcare.
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Based on geographical region, the global market for disposable plastic bags of blood is segmented into North America, Europe, and Asia. North America is anticipated to remain dominant in the global market for disposable plastic bags of blood. In North American market for disposable plastic bags of blood, the U.S. region signifies the largest market followed by Canada owing to growing prevalence of disorders related with blood in this region.
In the global market for disposable plastic bags of blood, the Asia region is anticipated to expand at a higher growth rate in the coming five years owing to base of large population and rising demand for process of blood transfusion. Countries such as India and China are projected to grow fast in the global market for disposable plastic bags of blood in Asia.
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Key Market Players
Certain latest trends observed in the global market for disposable plastic bags of blood market include growing use of RFID technology in blood bags and growing no. of M&A among companies. Major companies operating in global market for disposable plastic bags of blood include Fresenius SE & Co, Grifols, MacoPharma SA, KGaA, Haemonetics Corporation, Terumo Corporation and S.A., among others.