Blood transfusion market to be primarily driven by blood-related disorders and CKDs: Report
As per Transparency Market Research report 1.32 million people are living with leukaemia and lymphoma disorder and 10 per cent of the world’s population is affected by CKDs
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services recently released a a report on the global blood transfusion market. The report mentions that the global blood transfusion market is projected to be primarily driven by prevalence of blood-related disorders and the rising incidences of chronic kidney diseases.
Currently there are about 1.32 million people living with leukaemia and lymphoma disorder according to American Cancer Society. And according to the National Kidney Foundation around 10 per cent of the world’s population is affected by chronic kidney diseases. Due to the rise of incidences of chronic diseases the demand for blood and blood products has increased which in turn is projected to drive the blood transfusion devices market. Moreover, technological advancements in apheresis systems, infusion pumps, blood warmers, and transfusion filters have facilitated the availability of safe and highly purified blood to patients. Favourable medical reimbursement policies in developed countries and increasing per capita health care expenditure in developing countries enhance treatment access to a large patient pool requiring blood transfusion for their treatment.
As per the TMR report, the global blood transfusion devices market can be segmented based on product, application, end-user, and geography. In terms of product, the global market can be classified into apheresis systems, infusion devices, blood warmers, venous access devices, filters, and others. An apheresis system receives whole blood from the donor’s body and separates it into various components such as plasma, platelets, red blood cells and white blood cells. The apheresis system, upon separation of the whole blood, transfuses the desired component to the patient, and remaining blood components are returned back to the donor. The apheresis systems segment is projected to hold a prominent share of the global transfusion devices market by the end of 2026. The infusion devices segment can be further divided into volumetric infusion pumps and gravity-delivered infusion pumps. In terms of application, the global transfusion devices market can be segmented into blood disorders, autoimmune disorders, cancer, renal disorders, surgical procedures, and others. The blood disorders segment is estimated to expand at a rapid CAGR during the forecast period. Based on end-user, the blood transfusion devices market can be categorised into hospitals, ambulatory surgery centres, dialysis centres, and others.
In terms of geography, the global blood transfusion devices market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. North America is projected to hold a significant share of the global market, owing to high demand for blood and blood components for the treatment of various blood disorders in the region, well-established health care facilities, and high prevalence of blood disorders in the region. Europe is anticipated to be a prominent region of the global blood transfusion devices market. Well- established health care facilities, early adoption of technologically advanced products, and rise in the ageing population in the region are likely to drive the market in Europe. The market is Asia Pacific is expected to expand at a rapid CAGR during the forecast period, owing to rapidly changing health care infrastructure in emerging countries such as China and India, increased per capita health care expenditure, and increase in the number of road traffic accidents leading to severe blood loss. The market in Middle East, Africa and Latin America is projected to expand at a moderate growth rate during the forecast period.