Disposable Plastic Blood Bag Market Overview
The global disposable plastic blood bag market size is projected to reach $484.5 million by 2020, growing at a CAGR of 9.2% during the forecast period. The global disposable plastic blood bag industry is growing, due to increasing prevalence of chronic diseases and rising aging population. In addition, rising initiatives undertaken by government associations to boost awareness about blood donations and advanced features of disposable plastic blood bags are also driving the growth of the global disposable plastic blood bag market.
In terms of type, the disposable plastic blood bag market is segmented into single disposable blood bag, double disposable blood bag, triple disposable blood bag and quadruple disposable blood bag. The single disposable blood bag segment held the largest share in the market during the historical period and it is expected to retain its dominance in the global market by 2020, with 76.4% share.
Based on end-user, the disposable plastic blood bag market is segmented in hospital, blood banks, home healthcare and others. Globally, hospitals are the largest end-user of disposable plastic blood bags and is also expected to witness the fastest growth in demand during the forecast period.
Geographically, North America dominates the disposable plastic blood bag market due to growing R&D activities and increasing prevalence of blood disorders, within the region. Chronic lymphocytic leukemia and acute myeloid leukemia are the most common types of leukemia affected the adults in the region. For instance, according to the Leukemia and Lymphoma Society, it is estimated that in every three minutes, one person is diagnosed with blood cancer. Among the North American countries, the U.S. market for disposable plastic blood bag was the largest during the historical period and by 2020, it is projected to hold a market share of 90%.
Disposable Plastic Blood Bag Market Dynamics
The increasing number of merger and acquisition activity is a major trend in the disposable plastic blood bag market. Over the past few years, companies dealing in disposable plastic blood bag are witnessing rise in number of mergers and acquisitions due to various strategic business reason. These business strategies have been devised for various purposes such, as business expansion and new product innovation to enhancement of the product range.
Disposable plastic blood bags facilitate greater adoption of these bags for the collection and transportation of human blood. These bags have completely replaced glass bottles for collection and transportation of blood. This is due to excessive cleaning and autoclaving requirements of glass bottles. In addition, there are chances of breakage at any stage of blood collection and transportation. These bags are also used to separate blood and its components such as RBCs and platelets. These advanced features of disposable plastic blood bags are bolstering the growth of the disposable plastic blood bag market.
High risk associated with the blood transfusions affect the growth of the disposable plastic blood bag market. Irregular and compromised use of sterilized needles and bags increases the risk of HIV infection and sepsis contraction. Moreover, medical errors associated with the process of blood transfusion can be life threatening.
Disposable Plastic Blood Bag Market Competitive Landscape
The key companies operating in the global disposable plastic Blood bag market include Haemonetics Corporation, JMS Co., Ltd., Kawasumi Laboratories, Inc., Grifols International S.A., AdvaCare Pharma, Fresenius SE & Co. KGaA, Terumo Corporation, Macopharma, Genesis BPS, SURU International Pvt. Ltd., Shanghai Transfusion Technology Co., Ltd., Nigale Biomedical Inc. of Sichuan Province Corporation (Nigale), Neomedic Limited, and Shandong Weigao Group Medical Polymer Company Limited.