Analysis of the Blood Processing Devices and Consumables Market 2022

Blood Processing Devices and Consumables Market

The global blood processing devices and consumables market was worth USD 40,139.2 million in 2021 and is poised to amplify at a CAGR of 6.7% over the period 2022-2030, amassing a valuation of $63,159.5 million by the end of the evaluation schedule.

The equipment and supplies used in blood processing are essential components of blood banks. Blood is processed in blood banks so that it can be stored for an extended period. Blood processing equipment and supplies are used to process blood. Blood processing devices are also used in hospitals for blood transfusions as well as in diagnostic facilities for the diagnosis of disorders such as diabetes, cancer, and heart disease. Refrigerators, cell processors, centrifuges, blood storage bags, blood collection tubes, and many other reagents are some of the equipment and supplies used in blood processing. Blood transfusion and blood processing are required for a number of surgical procedures, stem cell therapies, and organ transplants, which is expected to drive the market for blood processing equipment and supplies. Moreover, the increase in market expansion can also be linked to the detection of numerous ailments including cancer, diabetes, and heart problems discovered through blood screening.

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Impact of the Coronavirus on the Global Blood Processing Devices and Consumables Market (COVID-19) Pandemic

The COVID-19 pandemic has had a significant influence on the world and several companies have encountered difficulties in terms of financial effects and distribution networks. The forced closures caused supply interruptions, which impacted the market. Due to the disruptions caused by the COVID-19 pandemic, the healthcare and life sciences sectors are also affected.

The initial method of diagnosing COVID-19 during the outbreak was an antibody test. Blood tests are done to determine whether or not antibodies have been produced to fight the virus, which requires the use of blood processing equipment and supplies. Therefore, throughout this pandemic period, the global blood processing equipment and supplies market has witnessed significant development. In addition, COVID-19 prevents people with various chronic conditions from going to hospitals or undergoing blood screening tests necessary to continue their treatment.

Global Blood Processing Devices and Consumables Market – Key Trends
The global blood processing devices and consumables market is expected to grow over the forecast period owing to blood screening tests required for blood-transfused diseases, infectious diseases, and sickle cell disease. Sickle cell disease is one of the genetically inherited diseases, where the red blood cells do not have enough capacity to transport oxygen throughout the body. Hence, these patients require blood transfusions regularly, at specific time intervals, which is expected to drive the global blood treatment devices and consumables market. For example, according to the American National Red Cross, in the United States, 21 million blood components are transfused each year. There are approximately 90,000 to 100,000 patients with sickle cell disease in the United States who frequently require blood transfusions. Thus, due to the requirement for frequent blood transfusions among patients with sickle cell disease, the global market for blood treatment devices and consumables is expected to boom during the forecast period.

Global Blood Processing Devices and Consumables Market – Assessment by Segment

By product type
• Devices
• Consumables

Per end user
• Hospitals and Clinics
• Diagnostic laboratories
• Other end users
Global Blood Processing Devices and Consumables Market – Competitive Hierarchy
Major players characterizing the competitive terrain of this market are Beckman Coulter, Inc., Thermogenesis Holdings, Inc., Maco Pharma International GmbH, Immucor, Inc., Becton, Dickinson and Company, Bio-Rad Laboratories, Inc., Grifols, SA, Abbott Laboratories, Global Scientific Company, Sigma Laborzentrifugen GmbH, Terumo BCT, Inc., Poly Medicure Ltd and Thermo Fisher Scientific, Inc.

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Frequently Asked Questions
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