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, blood storage bags, blood collection tubes, and numerous other reagents are some of the equipment and supplies used in blood processing. 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. Also, the increase in The expansion of the market can also be linked to the detection of numerous ailments, including cancer, diabetes, and cardiac problems discovered by blood screening.
Impact of Coronavirus on the Global Blood Processing Devices and Consumables Market (COVID-19) Pandemic
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
Global blood processing devices and consumables market is expected to grow during forecast period owing to blood screening tests required for blood transfused diseases, infectious disease, and sickle cell disease. Sickle cell disease is one of the genetically inherited disease, where red blood cells do not have enough capacity to carry oxygen throughout the body. Hence these patients need blood transfusion regularly, in specific intervals of time, which is expected to boost the global blood processing devices and consumables market. For instance, according to American National Red Cross, in the U.S. transfusion of 21 million blood components takes place every year. There are around 90,000 to 100,000 sickle cell disease affected patients in U.S. who require blood transfusion frequently. Thus owing to requirement of frequent blood transfusion in sickle cell disease patients, global blood processing devices and consumables market is expected to boom in the forecast period.
Global Blood Processing Devices and Consumables Market- Segmental assessment
By Product Type
By End User
• Hospitals and Clinics
• Diagnostic Laboratories
• Other End Users
Global Blood Processing Devices and Consumables Market- 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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