Blood Processing Devices And Consumables Market Analysis By Device (Blood Bank Refrigerators & Freezers, Grouping Analyzers, Warmers, Hematocrit Centrifuges, Cell Processors), By Consumable (Vials, Slide Stainer, Slides, Test Tube Racks, Coagulation, Grouping & Hematology Reagents, Administration Sets, Collection Tubes, Needles, Lancets, & Filters,) And Segment Forecasts To 2022

Industry Insights

Global blood processing devices & consumables market is expected to grow at a CAGR of 7.8% from 2015 to 2022. Key factors attributing to its large share include rising prevalence of infectious diseases that need a blood transfusion and surgical treatment, and increasing geriatric population prone to various medical conditions requiring a blood transfusion. Furthermore, increasing R&D initiatives in regenerative medicine and cell therapies is also expected to fuel demand in this sector.

The market is primarily based upon demand for pathogen-free products. Blood supply being an integral requirement in any organ transplant and stem cell therapy, blood processing is a major aspect for any of these procedures and a growth in demand for these procedures is linearly linked to the blood processing industry.

North America Blood Processing Market, By Consumable, 2012-2022 (USD Million)

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.

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, 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. Major entities operating in this industry include Biomerieux SA, Abbott Laboratories, Bio-Rad Laboratories, Becton, Dickinson And Company, Roche Holdings AG, Danaher Corporation, Immucor, Inc., Thermogenesis Corporation, Grifols International, Terumo Corporation, Haemonetics Corporation, and Macopharma SA.

The industry participants are involved in incorporation of automated technology in present devices in order to aid plasma and serum processing by the reduction in labor-intensive steps. These companies are also involved in the development of strategic collaborations and mergers with hospitals as well as its components storage banks in order to enhance their market presence.