Blood Processing Equipment Market is Assessed to Value Over US$ 49 Billion by the End of 2026

  • 05 Jun 2019

The global blood processing equipment market is assessed to value over US$ 49 billion by the end of 2026 and expand at a CAGR of over 7.5% during the forecast period of 2019-2026. 

Blood processing equipment utilizes the collection of blood and managing of the blood sample. It's primarily used as a material for the construction of white blood Cells, plasma platelets and other components. The equipment is vastly used for blood transfusion and to convert whole blood injected in various blood components. It has been estimated by industry experts that 70 million surplus units of blood are diffuse each year in developed countries. In these countries, the safety of the blood remains the first priority concern of the government and manufacturers. The advantages of the equipment include reducing human intercession with very little contamination chances and shortening the time period of blood processing by reducing the managing steps. Rising widespread of metabolic diseases and growing traumatic injuries created a huge demand for blood transfusion and processing equipments. Rigid government policies and regulations had a positive impact on the market and fuelled its growth.  The presence of unbending guidelines made by U.S FDA related to stockroom requirements of plasma particles blended with the rising need for blood components because of growth in population are the factors that predict to deliver avenues for gainful growth in refrigeration applications.
Technological advancements have vastly improved the traditional equipment and led to the development of multiple modality equipments. Further, the rising importance of processing equipment in the prevention of diseases transmissions boosted the growth. However, lack of trained operators is restraining the growth of the market. Reluctance of adoption of automated blood processing systems is also hindering the growth of the market. 
Asia Pacific region dominated the global market due to the high prevalence of metabolic diseases and traumatic injuries. It is majorly dominated by China, Japan, and India due to the huge demand of processing equipment among the end user segment. It is followed by developed economies like North America and Europe. Latin America and Rest of World is fast growing regions due to increasing adoption and changing government policies. They are expected to remain the same throughout the forecast period.

Blood Processing Equipment Market Restraints: 
•    Lack of trained operators 
•    Unwillingness to the adoption of automated blood processing systems

Blood Processing Equipment Market Players Include:
•    SARSTEDT AG & Co.
•     Becton Dickinson, 
•    Medtronic, 
•    Terumo Corp,
•    Greiner Bio-One International Gmbh and others
 

Blood Processing Equipment Market Segmentation
By Product Type

•    Blood Bank Freezers/Refrigerators
•    Blood Cell Processors 
•    Hematocrit Centrifuges
•    Blood collection consumables and supplies

By End User
•    Hospitals
•    Blood Banks 
•    Blood Component Suppliers
•    Clinics 
•    Outpatient Centre

By Region:
•    Asia-Pacific
•    North America
•    Europe 
•    Latin America
•    Rest of the World

Competitive Landscape:
•    Tier 1 players- established companies in the market with a major market share
•     Tier 2 players 
•    Emerging players which are growing rapidly    
•    New Entrants 

Futurewise Key Takeaways
•    Growth prospects
•     SWOT analysis 
•     Key trends    
•     Key data-points affecting market growth


Objectives of the Study:
•    To provide with an exhaustive analysis on the global blood processing equipment market by product type, by end-user, by region
•    To cater comprehensive information on factors impacting market growth (drivers, restraints, opportunities, and industry-specific restraints)
•    To evaluate and forecast micro-markets and the overall market. 
•    To predict the market size, in key regions (along with countries)—North America, Europe, Asia Pacific, Latin America, and the Middle East.
•    To record evaluate and competitive landscape mapping- product launches, technological advancements, mergers and expansions.
•    Profiling of companies to evaluate their market shares, strategies, financial and core competencies

 

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