Disposable Blood Bag Market Size Growing at a CAGR of 11.0%: Analysis of Prevailing Industry Opportunities and Winning Manufacturers

Pune, Maharashtra, India, February 23 2021 (Wiredrelease) Allied Analytics –:The Global Disposable Blood Bag Market was pegged at $279 million in 2018 and is expected to reach $580 million by 2025, registering a CAGR of 11% during the period 2025.

Rise in number of blood transfusion procedures, increased prevalence of blood-related diseases, and surge in incidences of road accidents are the major drivers of the global disposable blood bag market. However, risks related to blood transfusion and dearth of blood donations in underdeveloped regions hamper market growth. On the contrary, untapped markets in the emerging economies are expected to create lucrative opportunities for the market players in the near future.

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The report splits into product, end user, and geography. Based on the product, the report is segmented into collection bag and transfer bag. In 2016, the collection bag segment held the largest share, contributing about two-thirds of the total market. However, the transfer bag segment is projected to grow at the fastest CAGR during the forecast period.

Based on the end user, the report bifurcates into hospital-based and stand-alone. The hospital-based segment held the largest share in 2016, contributing about three-fourths of the total revenue. However, the stand-alone segment is projected to manifest the fastest CAGR during the study period.

The report analyzes the global disposable blood bag market according to geography. The LAMEA region projected to manifest the fastest CAGR during the forecast period, owing to increase in treatment success rate.

Upsurge in incidence of accidents, trauma, and various blood related diseases; increase in awareness regarding blood donation among people and increase in number of blood transfusion surgeries worldwide are expected to drive the disposable blood bag market. However, risk factors associated with transfusion of blood in underdeveloped regions restrict this growth. Conversely, huge untapped market potential in the emerging countries, such as China and India, is expected to provide lucrative opportunities to the market players.

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The major companies profiled in the report include Fresenius SE & Co. KGaA, Terumo Corporation, Grifols, S.A, MacoPharma, S.A, HLL Lifecare Limited, Poly Medicure Limited, INNVOL Medical India Limited, Span Healthcare Private Limited, Haemonetics Corporation, and Neomedic International.

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