What is Blood Bag Label?
Giving blood is a simple, easy process, and donating a pint of blood generally takes 10-15 minutes. Now transporting blood and components to the end user is a much more complicated process. Blood processing and transportation require the use of specialized labels that can withstand both the rigorous lifecycle of a blood bag and communicate crucial info about its origin and contents. In order for transfusions to be successful, blood bags that contain transfusable blood should have certain sorts of blood bag labeling that help preserve the integrity of collected blood. In order for transfusion patients to receive positive health outcomes from donated blood, they need to receive the same blood type that they were born with. Identifying blood bags with blood bag labeling that clearly identifies blood type helps prevent transfusion errors that might precipitate other health issues that extend hospital stays and drive up healthcare expenses.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Key Companies Profiled | Shamrock Labeling Systems (United States), Paragon Labeling Systems (United States), Armor TT (France), Nova Label Co., Inc. (United States), Consolidated Label Co. (United States), Great Lakes Label, LLC (United States), G2 ID Source (United States), 3M (United States), RACO Industries (United States), BarScan Technologies (India) and Weber Packaging Solution (United States) |
The study covers a detailed analysis segmented by key business segments i.e. by type (Primary Label and Secondary Label) , by application (Blood Banks, Hospitals and Other) and major geographies. Research Analyst at AMA predicts that United States Players will contribute to the maximum growth of Global Blood Bag Label market throughout the predicted period.
The competition is expected to become even more intense in the years to come due to the entry of several new players in the market. To help clients improve their revenue shares in the market, this research study provides an in-depth analysis of the markets competitive landscape and offers information on the products offered by various leading companies. Additionally, this Blood Bag Label market report suggests strategies that Players can follow and highlights key areas they should focus on, in order to take maximum benefits of growth opportunities.
The report offers several leading Players, some of them are Shamrock Labeling Systems (United States), Paragon Labeling Systems (United States), Armor TT (France), Nova Label Co., Inc. (United States), Consolidated Label Co. (United States), Great Lakes Label, LLC (United States), G2 ID Source (United States), 3M (United States), RACO Industries (United States), BarScan Technologies (India) and Weber Packaging Solution (United States).
Market Overview:
Under the bar code label requirements final rule of Feb 26, 2004, products subject to the rule, including blood and blood components intended for transfusion, must be in compliance by April 26, 2006. The regulation for blood and blood components is located at 21 CFR 606.121(c)(13). The final rule is entitled: Bar Code Label Requirement for Human Drug Products and Biological Products (69 Federal Register 9120, February 26, 2004).
The companies are exploring the market by adopting expansions, investments, new service launches, and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions across the globe to gain a competitive advantage through combined collaborations.
Influencing Trend:
Government Support For Blood Donation Camp
Market Growth Drivers:
Increasing Number of Blood Donation Camps and Increasing Number of Surgeries and Operations
Challenges:
Low Availability of Blood Storing Capacity in Rural Areas and Fluctuating Raw Material Cost
Restraints:
Lack Of Awareness about Blood Donation
Opportunities:
Increasing Research and Development and Growth in Healthcare Industry
Key highlights of the Global Blood Bag Label market Study:
CAGR of the market during the forecast period 2022-2028
In-depth information on growth factors that will accelerate the Blood Bag Label market in next few years.
Detailed Insights on futuristic trends and changing consumer behavior
Forecast of the Global Blood Bag Label market size and its contribution to the parent market by type, application and by country.
A broad view of customer demand
Uncover markets competitive landscape and in-depth information on various Players
Comprehensive information about factors that will challenge the growth of Blood Bag Label Players
Transformation and Important Triggers:
Business transformation has taken hold across the broad corporate landscape due to the confluence of several important triggers, including:
A tipping point in globalization
A major slowdown in Western economies
Significant shifts in technology and cost structure
The challenges of regulatory compliance
New forms of competition developing
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Blood Bag Label market.
In order to reach an exhaustive list of functional and relevant players, various industry classification standards are closely followed such as NAICS, ICB, and SIC to penetrate deep into important geographies by players, and a thorough validation test is conducted to reach the most relevant players for survey in Blood Bag Label market.
In order to make a priority list sorting is done based on revenue generated based on the latest reporting, using paid databases such as Factiva, Bloomberg, etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment> by targeting key target audience that includes Blood Donation Camp, Raw Material Supplier, Health Care Organisation, Non-Government Organisation, Government and Other Private Organisation, Research Centers, Government Regulatory Bodies and Others.
This helps us to gather the data for the players revenue, operating cycle and expense, profit along with product or service growth, etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that include Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, Annual reports, press releases, etc.