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European Blood Banking Devices Market
Frost & Sullivan, June 2010, Pages: 61
Transfusion of blood and various blood components is an established way of treating patients who are deficient in one or more blood constituents. The essential functions of blood transfusion service are donor recruitment, blood collection, testing of donor blood, component preparation and supply of these components to the patients. Blood banking devices include all instruments which are involved in collecting, processing and storing blood and blood components. This research service examines the European blood banking devices market in terms of the challenges faced by market participants, drivers, and restraints in the industry, the market share analysis, the revenue forecasts and growth rates.
This research service titled European Blood Banking Devices Market provides a comprehensive analysis of the European blood banking devices market including whole/manual blood collection devices, apheresis blood collection devices and autologous blood collection devices. The countries covered in this research are France, Germany, Italy, Spain, the United Kingdom, Benelux, and Scandinavia.
Market Overview
The Need for Blood and Blood Components Boosts the European Blood Banking Devices Market
Blood banking devices are instruments used in collecting, processing, and storing blood and blood components. There is greater demand for blood due to innovations in medical treatments, the aging population and expanding clinical applications. Approximately, 15 million units of blood are collected every year in Europe. “The pharmaceutical and biotechnology industry is the most profitable within healthcare,” says the analyst of this research. “Plasma and fractionating centres are the major buyers of automated collection devices as several drugs are derived from platelets, red cells, and plasma components.”
Advancements in blood safety have resulted in a greater need for pathogen detection, their removal and inactivation. Modern tests based on detecting nucleic acids instead of the conventional antibody proteins have been developed to recognise viruses. Leukocyte removal, in the form of separate and in-built filters, is a significant driver for the European blood banking devices market. The 2006 blood safety and quality regulations apply to blood establishments and hospital blood banks. They emphasise the need for a quality system in blood establishments and hospital blood banks and focuses on record keeping and tagging in health establishments. These regulations have set standards for quality and safety for the collection, testing, processing, storage and distribution of blood and blood components.
Effective Cost-containment Strategies by Companies to Combat Price Erosion
The availability of blood has significantly declined due to the shortage of donors every year. Currently, the number of blood donors in Western Europe has plummeted to approximately 16 million compared to 2004, when 19 million donors were reported. This decline is mainly due to increasing donor restriction and a fear of contamination. Furthermore, a number of factors such as sophisticated filtering techniques and the aging population have resulted in an unprecedented rise in blood supply costs. Since the end users face various changes with regard to healthcare cost-containment, they transfer the pressure to the suppliers, insisting they lower their prices. “Declining market revenues will not only impel existing companies to exit, but also make it less attractive for new companies to enter the market,” explains the analyst. “The manual blood collective devices market is affected the most due to price erosion.”
It is the collective decision of different European governments to focus on cost-containment by mandating medical devices companies to implement efficient strategies to handle pricing and enforce control on reimbursement costs. “Companies are increasingly focussing on maximising profits in a market that is particular about reducing costs,” concludes the analyst. “Medical devices companies should strive to understand the highly fragmented market they are operating in for effective cost-containment.”
Market Sectors
Expert Frost & Sullivan analysts thoroughly examine the following market sectors in this research:
- Whole/manual blood collection devices
- Apheresis blood collection devices
- Autologous blood collection devices
By Country:
- France
- Germany
- Italy
- Spain
- The United Kingdom
- Benelux
- Scandinavia
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