Industry Background:
Blood Bags, also known as disposable blood bags. They are used for germ-free preservation, processing, transportation, and transfusion in hospitals, and blood banks with its all components. These blood bags are made of flexible and nondelicate material. Storing capacity of these bags is from 150 to 1000 ml. Rising the process of blood transfusion will help to boost Global Blood Bags Market. These bags are used to separate its components such as leukocytes, platelets, white blood cells (WBC), red blood cells (RBC), and blood plasma. Increasing the surgical process as well as increasing blood-related diseases will help to upsurge the market.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Key Companies Profiled | Poly Medicure Limited (India), INNVOL Medical India Limited (India), HLL Lifecare Limited (India), Span Healthcare Private Limited (India), TERUMO (Japan), Velico Medical, Inc.(United states), AdvacarePharma (United States), Fresenius Kabi (Germany), Macopharma (France) and Grifols (Spain) |
According to AMA, the market for Blood Bags is expected to register a CAGR of 9.0% during the forecast period to 2030. This growth is primarily driven by Additional Storage Benefit, Germ-free Process of Transportation and Rising Number of Blood banks as well as Hospitals.
Globally, a noticeable market trend is evident Increasing Research Activities and Scientific innovations
Major Players, such as Poly Medicure Limited (India), INNVOL Medical India Limited (India), HLL Lifecare Limited (India), Span Healthcare Private Limited (India), TERUMO (Japan), Velico Medical, Inc.(United states), AdvacarePharma (United States), Fresenius Kabi (Germany), Macopharma (France) and Grifols (Spain), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years. The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new product launches, and collaborations as their preferred strategies. The players explore new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies.
Key Developments in the Market:
On 1 September 2017, Fresenius Kabi acquired Merck KGaA’s biosimilars business and the deal was established for 656 million dollars.
Manufacturers have been researching and developing new materials that are biocompatible, durable, and compatible with various blood components. This includes the use of specialized plastics and coatings that minimize the risk of contamination and improve the storage life of blood
Regulatory Insights:
In the United States, the Food and Drug Administration (FDA) is responsible for regulating blood and blood products, including the approval and oversight of blood bags and related medical devices. In the European Union, the European Medicines Agency (EMA) provides regulatory oversight for blood products.
Influencing Trend:
Increasing Research Activities and Scientific innovations and Government Support For Blood Donation Camp
Market Growth Drivers:
Additional Storage Benefit, Germ-free Process of Transportation and Rising Number of Blood banks as well as Hospitals
Challenges:
Low Availability of Storing Capacity in Rural Areas
Restraints:
Waste of Blood Creates Extreme Usage of Blood Bags, Lack Of Awareness about Blood Donation, Deficiency of Uneducated Staff and their Medical Error and Rising Blood-Related diseases such as Road Accidents, Injuries
Opportunities:
Customized Blood Bags Enables Tracking System and Profitable Chances in Developing Nations
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Players landscape impacting the growth of the market. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints in Blood Bags Market
- Analysis about New Entrants in Blood Bags Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
- An Unbiased Perspective towards Market Performance & Indicators
Against this Challenging Backdrop, Blood Bags Study Sheds Light on
The Blood Bags Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Blood Bags industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Blood Bags industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Players can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.