Blood Processing Devices and Consumables Market Recent Trends, In-depth Analysis, Size and Forecast 2022 to 2030

The global blood processing devices and consumables market was worth USD 40,139.2 million in 2021 and is poised to amplify at a CAGR of 6.7% over 2022-2030, thereby amassing a valuation of USD 63,159.5 million by end of the assessment timeline.

The equipment and supplies used in blood processing are essential components of blood banks. Blood is processed at blood banks so that it can be kept for an extended period of time. Blood processing equipment and supplies are used to process the blood. Devices for processing blood are also employed in hospitals for blood transfusions as well as in diagnostic facilities for the diagnosis of disorders like diabetes, cancer, and heart-related diseases. Refrigerators, cell processors, centrifuges, and other equipment and supplies are used in the processing of blood.

blood collection tubes, blood storage bags, and other reagents. Blood transfusion and blood processing are necessary for a number of surgical procedures, stem cell therapies, and organ transplants, which is anticipated to drive the market for blood processing equipment and supplies. Further driving the market expansion is the rise in the diagnosis of numerous ailments, including cancer, diabetes, and heart conditions found through blood screening.

Due to the need for blood screening tests for infectious diseases, sickle cell disease, and blood transfusion-related illnesses, the global market for blood processing devices and consumables is anticipated to expand during the forecast period. Red blood cells with sickle cell disease (SCD) do not have adequate oxygen-carrying ability to transport oxygen throughout the body.

Since these patients require blood transfusions frequently, at set intervals, the market for blood processing equipment and supplies is likely to grow. For instance, the American National Red Cross reports that 21 million blood components are transfused annually in the United States. In the United States, there are between 90,000 and 100,000 sickle cell disease individuals who often need blood transfusions. Thus, the global market for blood processing devices and consumables is anticipated to soar in the next years as a result of sickle cell disease patients' frequent need for blood transfusions.

Coronavirus (COVID-19) Pandemic Effects:

The COVID-19 pandemic has had a significant influence on the world, and several businesses have encountered difficulties in terms of the financial effects and distribution networks. Forced lockdowns have caused supply interruptions, which have had an impact on the market. Due to the COVID-19 pandemic's disruption, the healthcare and life sciences sectors are also impacted.

The initial method of COVID-19 diagnosis during the epidemic was an antibody test. Blood tests are performed to determine whether or not antibodies have been produced to combat the virus, necessitating the use of blood processing equipment and supplies. Therefore, throughout this pandemic period, the global market for blood processing equipment and supplies has experienced significant development. In addition, COVID-19 prevents people with various chronic illnesses from visiting hospitals or undergoing blood screening tests that are necessary for their continued treatment.

Global Blood Processing Devices and Consumables Market- Key trends

Growing prevalence of blood transfused ailments to aid industry expansion

Due to the need for blood screening tests for infectious diseases, sickle cell disease, and blood transfusion-related illnesses, the global market for blood processing devices and consumables is anticipated to expand during the forecast period. Red blood cells with sickle cell disease (SCD) do not have adequate oxygen-carrying ability to transport oxygen throughout the body. Since these patients require blood transfusions frequently, at set intervals, the market for blood processing equipment and supplies is likely to grow. For instance, the American National Red Cross reports that 21 million blood components are transfused annually in the United States.

Increasing R&D activity in the field to support market growth

Due to significant advancements and expanding research in the life sciences, the need for devices and consumables for blood processing is anticipated to increase globally. According to Kings College London, neurofilament light chain levels in the blood can be used to diagnose neurodegenerative conditions like Down syndrome. Research and development in blood screening, which calls for blood processing, is thus anticipated to be a key driver of the global market for blood processing devices and consumables.

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Global Blood Processing Devices and Consumables Market- Segmental assessment

By Product Type
• Devices
• Consumables

By End User
• Hospitals and Clinics
• Diagnostic Laboratories
• Other End Users

Global Blood Processing Devices and Consumables Market- Geographical landscape
The major regions constituting the geographical ambit of this marketplace are North America, Middle East & Africa, Europe, Asia Pacific, and Latin America. Among these North America is projected to capture a substantial revenue share over 2022-2030. This is attributable to the rising geriatric population base, increase in the number of blood banks, and growing R&D investments in the field.

Competitive hierarchy
The prominent players characterizing the competitive terrain of this marketplace are Beckman Coulter, Inc., Thermogenesis Holdings, Inc., Maco Pharma International GmbH, Immucor, Inc., Becton, Dickinson and Company, Bio-Rad Laboratories, Inc., Grifols, S.A., Abbott Laboratories, Global Scientific Company, Sigma Laborzentrifugen GmbH, Terumo BCT, Inc., Poly Medicure Ltd, and Thermo Fisher Scientific, Inc.

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Major questions answered in this report

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