Global market for disposable plastic bags of blood has emerged as a pivotal development, offering groundbreaking solutions for the storage, collection, transportation, and transfusion of blood and its components, including red blood cells (RBCs), white blood cells (WBCs), and platelets. Manufactured predominantly from Polyvinyl Chloride (PVC) and other plastic materials, these bags are tailored to meet the stringent demands of medical protocols through processes that encompass extrusion, welding, sterilization, compounding, molding, solution preparation, and meticulous inspection to prevent contamination.
Within the North American market, the U.S. represents the largest segment, followed by Canada, primarily due to the increasing prevalence of blood-related disorders in this region.
In the global market, the Asia region is forecasted to witness higher growth rates over the next five years, driven by its large population base and growing demand for blood transfusion procedures. Countries such as India and China are expected to experience rapid growth in the global market for disposable plastic bags of blood within the Asian region.
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Financial Milestones and Market Expansion
The year 2014 marked a significant milestone, with the global market for disposable plastic bags of blood recording revenues of USD 480 Mn. Projections indicate a promising future, with anticipated revenues escalating to USD 925 Mn by the close of 2031. This period is expected to witness a robust Compound Annual Growth Rate (CAGR) of 10.0%, underscoring the dynamic expansion and the vital role these bags play in modern healthcare.Driving Forces Behind the Market Growth
The substantial growth of the disposable plastic bags of blood market is attributed to several key factors. An increasing prevalence of lifestyle and chronic diseases, coupled with a rising aging population, has fueled the demand for these bags. Additionally, their advanced features, designed to enhance blood storage and transfusion practices, have further propelled market growth. Government initiatives aimed at raising awareness about the importance of blood donation have also played a crucial role in this upward trajectory.Challenges and Opportunities
Despite the positive outlook, the market faces challenges, including risks associated with blood transfusion, a lack of awareness, and inadequate blood collection and storage infrastructure globally. Furthermore, the dearth of primary healthcare infrastructure in several developing nations poses a significant hurdle. However, these challenges present opportunities for innovation and improvement, encouraging the development of safer, more efficient blood storage solutions.Geographical Insights
Geographically, the global market for disposable plastic bags of blood is segmented into North America, Europe, and Asia. North America is expected to maintain its dominance in this market.Within the North American market, the U.S. represents the largest segment, followed by Canada, primarily due to the increasing prevalence of blood-related disorders in this region.
In the global market, the Asia region is forecasted to witness higher growth rates over the next five years, driven by its large population base and growing demand for blood transfusion procedures. Countries such as India and China are expected to experience rapid growth in the global market for disposable plastic bags of blood within the Asian region.
Innovation and Industry Dynamics
Recent trends in the market reveal a growing adoption of RFID technology in blood bags, enhancing tracking and safety. Mergers and acquisitions among companies have also been a notable trend, fostering consolidation and innovation within the industry.Some of the major players in the disposable plastic blood bags market:
- Terumo Corporation.
- Fresenius SE & Co.
- KGaA.
- Grifols.
- S.A.
- MacoPharma SA.
- Haemonetics Corporation.
- Other.
Segmentation of the Market
The global market for disposable plastic bags of blood is analyzed through a dual lens of product type and end-user type. Product types include Single, Double, Triple, and Quadruple Blood Bags, catering to a range of storage and transfusion needs. End-users are primarily Blood Banks, Hospitals and Healthcare Institutes, and Home Healthcare services, each with unique requirements that these products aim to fulfill.By Type
- Single Blood Bags
- Double Blood Bags
- Triple Blood Bags
- Quadruple Blood Bags
By End Users
- Hospital and Healthcare Institutes
- Blood Banks
- Home Healthcare
By Geography
- North America
- Europe
- Asia
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Table of Contents
1. Executive Summary
2. Market Overview
3. Global Disposable Plastic Blood Bag Market Outlook, 2018 - 2031
4. North America Disposable Plastic Blood Bag Market Outlook, 2018 - 2031
5. Europe Disposable Plastic Blood Bag Market Outlook, 2018 - 2031
6. Asia Pacific Disposable Plastic Blood Bag Market Outlook, 2018 - 2031
7. Latin America Disposable Plastic Blood Bag Market Outlook, 2018 - 2031
8. Middle East & Africa Disposable Plastic Blood Bag Market Outlook, 2018 - 2031
9. Competitive Landscape
10. Appendix
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Terumo Corporation.
- Fresenius SE & Co.
- KGaA.
- Grifols.
- S.A.
- MacoPharma SA.
- Haemonetics Corporation.
Methodology
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