Disposable Blood Collection Bag Market to Witness Healthy Size US$ 390.75 Million By 2030
Disposable Blood Collection Bag Market to Grow at 4.8% CAGR (2023-2030) Driven by Rising Demand from Blood Banks, and major participants includes are MacoPharma, Fresenius SE & Co. KGaA, Terumo Corporation, JMS Co. Ltd, Poly Medicure Limited, Narang Medical Limited, and AdvaCare Pharma
New York, July 07, 2023 (GLOBE NEWSWIRE) — The global Disposable Blood Collection Bag Market is expected to witness significant growth at a CAGR of 4.8% during the forecast period of 2023-2030. The factors such as the increasing surgical proceedings, development of new hospitals, and others are accelerating the demand for disposable blood collection bags, which, in turn, is benefiting the market growth. In addition, the rising development of a new range of disposable blood collection bag product categories will further boost the market growth during the forecast period.
According to a recent report by Consegic Business Intelligence, the disposable blood collection bag market is poised for strong expansion and is expected to reach USD 390.75 Million by 2030. The market, which was valued at USD 270.10 Million in 2022, is predicted to grow at a compound annual growth rate of 4.8% during the period 2023-2030. The report highlights the increasing adoption of disposable blood collection bag in hospitals, which is proliferating global market growth. Consegic Business Intelligence study also provides insights into the market’s competitive landscape, market segmentation, regional outlook, and emerging technologies in the disposable blood collection bag market.
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Disposable blood collection bags are utilized in clinics, hospitals, and others for the routine administration and functioning of blood. The various factors, including the increasing prevalence of chronic diseases, a rise in the treatment of diseases through operations, among others are some of the key variables accelerating surgical procedures at the global level. For instance, according to the recent statistics published by the Organisation for Economic Co-operation and Development (OECD), in 2020, the total number of surgical procedures conducted in Norway was 19,201 surgeries, and in 2021, it was 21,502 surgeries, an increase of 12%. Thus, the increase in surgical procedures in countries such as Chile, South Korea, and others is spurring the demand for disposable blood collection bags to ensure an efficient supply of blood during the operating procedures, which, in turn, is driving the growth of the market.
Disposable blood collection bags are frequently deployed in hospital settings to meet blood infusion emergencies. The development of hospital infrastructure is increasing at the global level attributed to factors such as rising governmental investments, an increase in chronic diseases, and others. For instance, in 2021, the development of the Grunwald Central Integrated Clinical Hospital began in Poland. The project includes the development of a central hospital that covers an area of 45,000 square meters. The project is valued at USD 158 million. The development of this hospital will be complete by the fourth quarter of 2029. Hence, the construction of new hospital infrastructure will create potential growth for the market in the upcoming years.
Global Disposable Blood Collection Bag Market: Report Attributes
|Report Attributes||Report Details|
|Market Size in 2030 (USD Million)||USD 390.75 Million|
|By Type||Single Blood Bags, Double Blood Bags, Triple Blood Bags, and Quadruple Blood Bags|
|By End User||Blood Banks, Hospitals, and Others|
|Report Coverage||Company Ranking and Market Share, Growth Factors, Total Revenue Forecast, Regional Competitive Landscape, Business Strategies, and more.|
|By Geography||North America, Asia-Pacific, Latin America, Europe, Middle East & Africa|
|Key Players||MacoPharma, Fresenius SE & Co. KGaA, Terumo Corporation, JMS Co. Ltd, Poly Medicure Limited, Narang Medical Limited, and AdvaCare Pharma|
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Global Disposable Blood Collection Bag Market Segmentation Details:
Based on type, the single blood bags segment contributed the largest shares to the market growth in 2022. The vital characteristics of single blood bags include high flow rates, optimum finish, sterilization, and others. These characteristics result in safer blood collection procedures. The single blood bags are available in various sizes such as 100 ml, 250 ml, 350 ml, and more. Thus, due to the above-mentioned features the adoption of single blood bags is increasing in hospitals and blood banks to ensure efficient collection and separation of whole blood, which, in turn, is accelerating the growth of the market.
Based on end user, the hospitals segment is anticipated to offer substantial shares in the global disposable blood collection bag market growth during the forecast period. The rounded shape of the disposable blood collection bag minimizes the chances of loss of blood components during the collection phase. Also, under the bottom of the disposable blood collection bag, there is a presence of a slit. This makes disposable blood collection bag ideal to hang the blood bag during the collection process. Therefore, owing to the aforementioned features, the deployment of disposable blood collection bags is increasing in hospitals as the prevalence of chronic diseases and operations is increasing. This, in turn, is favoring the growth of the market.
Based on region, in the year 2022, North America accounted for the largest share contribution to the market growth. This is due to the increasing blood donation campaign and the growing number of blood donors in countries such as the United States and Canada. For instance, according to recent data published by the Centers for Disease Control and Prevention, in the United States, there are 11 million blood donors and more than 14 million units of blood transfused annually. Hence, the above variables is driving the market growth in the region.
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As per the research, Terumo Corporation, MacoPharma, Fresenius SE & Co. KGaA, and AdvaCare Pharma are prominent market players that comprise the latest market circumstances. These companies are substantially leveraging their technologies for the development of a new range of disposable blood collection bags. Further, the disposable blood collection bag market is anticipated to grow steadily due to the rising need for blood collection and donation programs, especially in the regions such as North America, Asia Pacific, and Europe regions are expected to boost the market statistics in the coming years. Additionally, the trend toward increasing acquisitions and product launches for disposable blood collection bags is anticipated to increase the competition in the market.
- In May 2019, Macropharma Corporation, based in the Philippines launched dual needle, an FDA NDA-approved disposable blood collection bag in the United States market. The primary aim of this launch was to increase Macropharma Corporation’s presence in the United States market.
Key Market Takeaways
- The global disposable blood collection bag market size is estimated to exceed USD 390.75 million by 2030 with an astonishing CAGR of 4.8% during the forecast period (2023-2030).
- North America accounted for the highest market share at 35.80% and was valued at USD 96.70 million in 2022, and is expected to reach USD 140.40 million in 2030. Moreover, in North America, the U.S. accounted for the highest market share of 70.15% during the base year of 2022.
- Based on type, the single blood bags segment accounted for the highest share contribution to the disposable blood collection bag market statistics in 2022.
- By end user, the hospital segment is anticipated to contribute the largest shares to the market growth in 2022.
- Asia Pacific is expected to boost the market demand for disposable blood collection bags due to the increasing investments in the new hospital and blood bank facilities in countries such as India, China, Singapore, and others.
List of Major Global Disposable Blood Collection Bag Market:
- Fresenius SE & Co. KGaA
- AdvaCare Pharma
- Genesis BPS
- Terumo Corporation
- JMS Co. Ltd
- Poly Medicure Limited
- Narang Medical Limited
Global Disposable Blood Collection Bag Market Segmentation:
- By Type
- Single Blood Bags
- Double Blood Bags
- Triple Blood Bags
- Quadruple Blood Bags
- By End User
- Blood Banks
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Frequently Asked Questions in the Disposable Blood Collection Bag Market Report
- What was the market size of the disposable blood collection bag industry in 2022?
- In 2022, the market size of disposable blood collection bag was USD 270.10 million
- What will be the potential market valuation for the disposable blood collection bag industry by 2030?
- In 2030, the market size of disposable blood collection bag will be expected to reach USD 390.75 million.
- What are the key factors driving the growth of the disposable blood collection bag market?
- Increasing surgical procedures are fueling the adoption of disposable blood collection bags.
- What is the dominating segment in the disposable blood collection bag market by end user?
- In 2022, the hospital segment accounted for the highest market share of 45.38% in the overall disposable blood collection bag market.
- Based on current market trends and future predictions, which geographical region will have the fastest impact on the disposable blood collection bag market’s growth in the coming years?
- Asia Pacific is expected to be the fastest-growing region in the market during the forecast period.
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