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%.
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.
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.
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.
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.
A blood bag package consists of collection tube, needle, needle cover, and a clamp. The disposable plastic blood bags have replaced the usage of glass bottle for collection and storage of blood and blood components. This is due to various features offered with disposable plastic bags, such as it enables the separation of blood components in a more sterile manner and eliminate the requirement of cleaning processes. It also reduces the chances of breakage during transportation.
Persistence Market Research’s recently published report on the global disposable plastic blood bags market provides an extensive assessment of the market, evaluating the growth prospects for a six-year forecast period 2014-2020. It comprises key trends and restraints impacting the overall market growth, recent trends and upcoming opportunities, market segmentation, regional analysis, and key players vying for the leading market position. Starting with an overview of the global disposable plastic blood bags market, the report further analyzes the factors that positively and negatively influence the demand for disposable plastic blood bags. It provides deep insights into why disposable plastic blood bags is expected to gain higher traction in developing markets, and what are the deterring factors that will affect the market growth over the forecast period, 2014-2020. Latest trends and opportunities sections of the report highlight the most valuable data to recognize the most lucrative opportunities for the market growth.
Segmentation of the global market for disposable plastic blood bags focuses on various disposable plastic blood bags types. The geographical analysis of the global market examines the market status in key regions viz. Europe, North America, and Asia. The market report elaborates on why developing markets may witness robust growth and outpace the long-term leader during the forecast period. The next section of the report includes all the leading companies competing in the market for a leading position. Strong presence of global players and established local brands makes the landscape extremely competitive. The report throws light on the growth pattern, revenues, and upcoming opportunities for each of the players.
To deduce the global disposable plastic blood bags market size, the report considers various aspects based on secondary research. Furthermore, key data points such as region-wise split and market split by product type and end user type and qualitative inputs from primary respondents have been incorporated to arrive at appropriate market estimates. The forecast presented in the report assesses the total revenue generated and expected revenue contribution in the global disposable plastic blood bags market.
The report begins with sizing the market in terms of value and volume for the base year, which forms the basis for forecasting how the market is anticipated to take shape in the near future. Given the characteristics of the market, gathered data is triangulated via different analysis based on supply side and demand side drivers and other key dynamics of the global disposable plastic blood bags market. To develop the market forecast, Persistence Market Research has also conducted a factor analysis to understand the impact of various forces/factors on the target market. The report provides forecasts not only in terms of CAGR but also presents a detailed analysis based on key parameters such as Year-on-Year (Y-o-Y) growth to understand market predictability and to identify the right opportunities.
Another key feature of this report is an analysis of the global disposable plastic blood bags market and the corresponding revenue forecast in terms of absolute dollar opportunity, usually overlooked while forecasting the market. However, absolute dollar opportunity is critical in assessing the level of opportunity that a provider can look to achieve, as well as to identify potential resources from a sales perspective in the global disposable plastic blood bags market. Further, to understand key segments in terms of their growth and overall global disposable plastic blood bags market performance, Persistence Market Research has developed a market attractiveness index to help providers identify existing market opportunities in the global disposable plastic blood bags market.
Some of the major players in the disposable plastic blood bags market:
These key market players have been profiled on the basis of attributes such as company overview, recent developments, growth strategies, sustainability and financial overview.