Blood Processing Devices and Consumables Market to Expand at a CAGR of 8.90% from 2013 to 2019

Transparency Market Research has published a new report on the global blood processing devices and consumables market. The report, titled ‘Blood Processing Devices and Consumables Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019,’ states that the global market is predicted to progress from US$27.27 bn in 2012 to US$49.16 bn by 2019. According to the report, the global blood processing devices and consumables market is expected to expand at an 8.90% CAGR from 2013 to 2019. Factors such as automation of devices in blood processing, the rising government spending, the rising number of surgical procedures, and favorable reimbursement policies are expected to propel the global blood processing devices and consumables market in the years to come.

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Normal blood supply can be affected by infectious illnesses such as hepatitis and acquired immunodeficiency syndrome (AIDS). Over the past few years, there has been an increase in complex surgeries such as orthopedic surgeries and open heart surgeries. A rise in infections being transmitted via blood donation is a point of concern for the global blood industry. However, manufacturers are engaged in developing advanced products to collect, store, process, and deliver blood components for surgeries. This is expected to benefit the global blood processing devices and consumables market in the near future.

The global blood processing devices and consumables market is segmented on the basis of region, device, and consumables. By consumables, the global blood processing devices and consumables market is classified into blood filters, blood administration sets, blood lancets, vials, test tube racks, microscopic slides, slide strainers, coagulation reagents, and blood grouping reagents.

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Blood bank refrigerators, blood bank freezers, blood warmers, blood grouping analyzers, blood cell processers, and hematocrit centrifuges are some of the popularly used blood processing devices. The growing demand for innovative blood processing devices is expected to propel the global blood processing devices and consumables market in the years to come.

The global blood processing devices and consumables market is geographically distributed into Europe, Asia Pacific, North America, and Rest of the World regions. At present, the global blood processing devices and consumables market is dominated by North America, followed by Asia Pacific.

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The development of economies and favorable reimbursement policies are expected to help North America to maintain its dominance in the years to come. Going forward, Asia Pacific is predicted to display attractive growth opportunities due to the increasing population base.

Nowadays, governments of many nations are taking extra efforts to spend more money towards research and development of new drugs and medical devices. This is creating an impact on the growth of the global blood processing devices and consumables market.

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Further, leading players such as Terumo BCT, Immucor, Haemonetics Corporation, Abbott Laboratories, Fresenius Kabi AG, and Bio-Rad Laboratories are concentrating on introducing new blood processing devices and consumables, thus contributing towards the market growth. Even though the global blood processing devices and consumables market is expected to face certain challenges, it is anticipated to benefit from developments in cell therapy.

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