Medical Devices is fastest growing segment fueling the growth of Disposable Blood Bags Market

 

The global Disposable Blood Bags Market is estimated to be valued at US$ 255.4 Mn or in 2023 and is expected to exhibit a CAGR of 5.4% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:
Disposable blood bags are essential medical equipment used to collect, process, transport, and store blood and blood components. They offer several advantages over conventional glass bottles such as reduced risk of contamination and breakage during transportation and storage. Their increasing adoption in blood collection centers and hospitals is driving the market growth.

Market key trends:
One of the major trends in the disposable blood bags market is the growing demand for quadruple blood bags. Quadruple blood bags find widespread application as they facilitate improved separation of blood components like plasma, platelets, and red blood cells. Manufacturers are focusing on developing advanced quadruple blood bags integrated with technologies like optical sensors and barcode identification to simplify the blood separation process. This is expected to boost the demand for quadruple blood bags over the forecast period.

Segment Analysis
The global disposable blood bags market is segmented on the basis of material, end-user and region. Based on material, the market is divided into PVC blood bags and non-PVC blood bags. The PVC blood bags segment dominates the market owing to its light weight, cost effectiveness and compatibility with blood components. The PVC blood bags help retain the functionality and viability of blood components for an extended storage period. Based on end-user, the market is classified into blood banks, hospitals and non-governmental organisations & others. The blood banks segment is the largest segment due to growing demand for blood and blood components from blood banks located across various healthcare facilities.

Key Takeaways
The global disposable blood bags market is expected to witness high growth, exhibiting CAGR of 5.4% over the forecast period, due to increasing demand for blood collection and storage from hospitals and blood banks.

Regional analysis
North America is expected to be the fastest growing regional market over the forecast period. This is attributed to increase in demand for disposable blood bags due to rising cases of blood disorders and automobile accidents in the region. Asia Pacific is expected to dominate the global market during the forecast period. Countries such as China and India are likely to boost the Asia Pacific market due to high population density, growing healthcare facilities and increasing government support for healthcare services in the region.

Key players
Key players operating in the disposable blood bags market are Poly Medicure Limited, Grifols, S.A., Macopharma, Fresenius Kabi India Pvt. Ltd., Terumo Penpol Pvt. Limited, HLL Lifecare Limited, Span Healthcare Private Limited, and Innvol Medical India Limited.

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