Transparency Market Research Report Added "Blood Transfusion Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 - 2025"
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Blood transfusion is the commonly used procedure for intravenous administration of blood to a person to replace lost blood. A needle is inserted in a blood vessel to transfer blood obtained from a healthy donor.
Blood transfusion is generally used to replace blood lost due to surgery or serious injury, and also in cases of diseases wherein blood formation is inadequate or inefficient. The blood transfusion market is expected to witness dynamic growth due to improving health care facilities and technological advancement in blood collection and safety in transfusion process.
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In addition, strict government regulations across the world are boosting market growth. According to the International Diabetes Federation (2014), the percentage of population suffering from diabetes across the globe would increase by 53% from 2014 to 2035.
Threat of spurt in new infections and infectious diseases that originate through the blood donation route are the major restraints of the blood transfusion market. Infectious diseases such as acquired immunodeficiency syndrome (AIDS) and hepatitis are the two major concerns that pose a threat to blood supply.
Moreover, blood cannot be manufactured and can only be obtained from donors for transfusion. Hence, shortage of donors is likely to hamper the growth of the blood transfusion market.
For instance, about 38% of population is eligible for blood donation, but only 10% of it actually go for blood donation. Lack of skilled professionals to handle the blood collection and transfusion procedure is another factor that may restraints the blood transfusion market, especially in underdeveloped or low income countries.
The blood transfusion market can be segmented based on transfusion type, product type, application, end-user, and region. In terms of transfusion type, the market can be categorized into red blood cell transfusion, platelet transfusion, and plasma transfusion.
Based on product type, the blood transfusion market can be divided into blood bags, transfusion sets, and other accessories. In terms of application, the market can be segmented into trauma & surgery, blood disorders, kidney disease, and others.
Based on blood disorders, the market can be categorized into leukemia, sickle cell anemia, and others. In terms of end-user, the blood transfusion market can be segmented into hospitals, ambulatory surgical centers, specialized clinics, and others.
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Geographically, the blood transfusion market can be segmented broadly into five main regions: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominates the market, attributed to increasing prevalence of diseases and rising population requiring blood transfusion.
According to the American National Red Cross (blood services), the U.S requires about 36,000 units of red blood cells per day, while about 21 million blood transfusions are carried out per year. Moreover, the blood transfusion market in North America is driven by increasing demand from aging population for blood products and rise in complex surgical procedures such as open heart and orthopedic surgeries.
The market in Europe and Asia Pacific is expected to expand rapidly due to rise in demand for blood transfusions, increased level of awareness, government support, and advancements in blood collection technologies.
Key players in the blood transfusion market are B. Braun Medical Inc., Macopharma, Inc., Coagulation Sciences LLC, NIPRO, and Terumo Corporation.
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