Blood Processing Devices And Consumables Market Size, Share, Growth Analysis, By Consumable,(Hospitals, blood banks), By Product Insights(Processing devices accounted for a larger share of revenue in 2014 owing to inherently capital-intensive nature of equipment for these technologies and their pivotal role in almost all forms of R&D projects implemented in this industry., Cell processors and hematocrit centrifuges collectively accounted for almost 50% of the revenue generated in 2014. Factors attributing for such large share include introduction and commercialization of automation associated with their usage for replacing labor-intensive steps of glycerolization) - Industry Forecast 2024-2031

Segmentation Analysis:

The Blood Processing Devices And Consumables Market is segmented by Consumable,, Product Insights. We are analyzing the market of these segments to identify which segment is the largest now and in the future, which segment has the highest growth rate, and the segment which offers the opportunity in the future.

• Based on Consumable, the market is segmented as, Hospitals, blood banks, and laboratories are the major end users and key sources of market demand. Factors fueling demand include the rise in a number of storage banks in developing as well as developed economies and presence of considerable government funding for research in order to develop automated and technologically advanced devices., Moreover, the presence of favorable reimbursement policies in this industry and their effect on hospitals’ and surgical processes’ operational guidelines is expected to impact growth in this industry positively through to 2022.
• Based on Product Insights the market is segmented as, Processing devices accounted for a larger share of revenue in 2014 owing to inherently capital-intensive nature of equipment for these technologies and their pivotal role in almost all forms of R&D projects implemented in this industry., Cell processors and hematocrit centrifuges collectively accounted for almost 50% of the revenue generated in 2014. Factors attributing for such large share include introduction and commercialization of automation associated with their usage for replacing labor-intensive steps of glycerolization, deglycerolization, and separation of cells., Furthermore, innovative and breakthrough developments in fields of cell processing are expected to fuel industry demand in the coming years owing to favorable outcomes such as resultant volume reduction of expanded cells using technologies, for instance, density gradient separation method, which are expected to enhance processing capabilities of processing laboratories., The presence of stringent guidelines issued by U.S. FDA pertaining to storage specifications of plasma components coupled with the escalating need for blood components due to rise in population are factors anticipated to provide avenues for lucrative growth in refrigeration devices. Incorporation of high-performance refrigeration in order to avoid tampering of plasma components is estimated to stimulate market adoption over the forecast period., Consumables are expected to register significant growth in the coming years due to significant advancements in this segment like the introduction of in-built filters in plasma collection tubes. Moreover, administration sets and hematology reagents are anticipated to flourish at a lucrative rate during the next seven years owing to the upcoming development of point-of-care hematology testing services and consequent increase in blood processing devices & consumables market usage., Additionally, preference for the intra-venous route of administration for treatment of chronic diseases and infections in order to impart rapid recovery by enabling faster bioavailability of the drug is expected to influence demand of blood administration thereby imparting a significant growth potential for blood transfusion consumables., Regional Insights, According to the American Red Cross, every two seconds, someone in the United States needs blood. This expanding need for products in North American economies is attributive towards a large share of blood processing devices & consumables market. The presence of sophisticated healthcare infrastructure, prominent industry entities, and strong government support, are other factors driving growth in this region., However, Asia-Pacific is expected to witness significant gains over the seven years due to expanding population bases in countries such as India and China, coupled with increasing epidemic of infectious diseases herein., Additionally, rising prevalence of chronic diseases, such as cancer and cardiovascular diseases, is another factor attributive towards anticipated demand. Rising awareness regarding blood donation and safe transfusion procedures due to favorable government and private campaigns will further enhance the growth potential of this region through to 2022., Competitive Insights, This industry is marked by the presence of a number of participants due to which there is an intense internal rivalry to occupy revenue share.