July 16, 2024

Healthcare Industry is the largest segment driving the growth of Disposable Blood Bags Market

The global Disposable Blood Bags Market is estimated to be valued at US$ 255.4 Mn or Mn in 2023 and is expected to exhibit a CAGR of 5.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:
Disposable blood bags are used for collection, storage, transport and transfusion of human blood and blood components. Disposable blood bags help prevent contamination and also ensure the safety of blood and its components during collection, storage and transfusion processes.

Market key trends:
Single-use blood collection bags account for over 65% share of the global disposable blood bags market. Stringent regulations regarding blood safety and increasing adoption of advanced blood collection technologies are major factors propelling demand for single-use blood bags. Additionally, growing prevalence of blood disorders and rising demand for blood and its components for treatment are increasing the number of blood donations and transfusions across the globe. This is anticipated to drive the growth of single-use blood collection bags segment during the forecast period. Furthermore, growing awareness about advantages of single-use medical devices such as reduced risk of infections is expected to boost adoption of disposable blood bags in the coming years.

Market Key Trends:
The disposable blood bags market has been witnessing increased adoption owing to the rising demand for blood and blood-derived products across hospitals and blood banks. Disposable plastic blood bags eliminate the risk of breakage and contamination associated with glass bottles, hence their demand is increasing significantly. Moreover, advancement in material and filter technology has improved leukoreduction and reduced microbial contamination in disposable blood bags, further driving their adoption over conventional glass bottles.

SWOT Analysis
Strength: Disposable plastic blood bags eliminate the risks of breakage and contamination associated with glass bottles. They also allow for better product labeling and transportation.
Weakness: Increased environmental concerns due to non-biodegradable nature of plastic used in blood bags.
Opportunity: Growth in number of blood donation camps and rising awareness about blood donation is expanding the market.
Threats: Strong regulations surrounding blood safety and storage may increase production costs.

Key Trends:
The global disposable blood bags market size was valued at USD 255.4 Mn in 2023 and is expected to reach USD 425.7 Mn by 2030, expanding at a CAGR of 5.4% during the forecast period. The rising number of surgical procedures and accidents have increased the demand for blood and blood-derived products across hospitals. This is a key factor driving the growth of the market.

Regional analysis:
North America dominates the global market and accounted for over 30% market share in 2023 owing to rising healthcare spending and increasing adoption of advanced blood collection technologies in the region. However, Asia Pacific exhibits the fastest growth due to growing medical tourism, rapidly improving healthcare infrastructure, and rising healthcare spending in countries such as India and China.

Key players:
Key players operating in the disposable blood bags market are Poly Medicure Limited, Grifols, S.A., Macopharma, Fresenius Kabi India Pvt. Ltd., Terumo Penpol Pvt. Limited, HLL Lifecare Limited, Span Healthcare Private Limited, and Innvol Medical India Limited.