Disposable Plastic Blood Bag Market Overview
The global disposable plastic blood bag market is expected to attain a market size of $484.5 million by 2020, witnessing a CAGR of 9.2% during the forecast period. Increasing prevalence of chronic ailments and growing geriatric population are the two major factors driving the growth of this market. In addition to these factors, rising government initiatives to increase awareness about blood donation, coupled with beneficial features of disposal blood bags will drive the demand for disposable plastic blood bags in the coming years.
When the type of disposable plastic bag is taken into consideration, the disposable plastic blood bag market is categorized into single, double, triple, and quadruple bags. Of these, the category of single disposable plastic blood bag is predicted to lead the market, throughout the analysis period. This category is anticipated to hold the largest share, of 76.4%, by 2020.
Based on geography, North America holds the leading position in the disposable plastic blood bag market, globally. The market in North America is primarily driven by factors such as surging prevalence of blood disorders and increasing investment in the research and development (R&D) activities by the companies based in the region.
Further, increasing prevalence of chronic diseases also positively impacts the growth of the North American market. For instance, chronic and acute myeloid leukemia are the most common types of leukemia prevalent in the region. This can be substantiated with the fact that, according to the Leukemia and Lymphoma Society, in the U.S., it is estimated that in every three minutes, one person is diagnosed with blood cancer. The U.S. holds the dominant position in the North American market, and is expected to hold the larger share of around 90% by 2020.
In terms of end user, the disposable plastic blood bag market is classified into hospitals, blood banks, home healthcare, and other end users. Hospitals, as an end-user category, account for the largest share in this market. It is also expected to be the fastest growing end-user category in the global market in coming years.
Disposable Plastic Blood Bag Market Dynamics
The disposable plastic blood bag market is driven by factors, such as growing geriatric population, rising prevalence of various chronic and lifestyle related diseases, and increasing number of government initiatives to promote blood donation. In addition to these factors, the advantageous features of disposable plastic blood bags also augment the growth of the market. It has been observed that the plastic bags facilitate greater adoption of these products for the collection and transportation of human blood.
Further, it has been observed that plastic based disposable blood bags are gaining popularity and have almost replaced glass bottles, that were earlier used for the collection and transportation of blood. This is due to the excessive cleaning and autoclaving requirements involved in the use of glass bottles. In addition, the chances of breakage at any stage of blood collection and transportation are also reduced with the adoption of the plastic bags. Further, these bags also find applications in separating blood and its components such as RBCs and platelets. Hence, these beneficial features of plastic disposable blood bags are fueling the growth of the market.
However, constraints like risk associated with the blood transfusions and arbitrated use of sterilized needles and bags, leading to greater risk of HIV infection and sepsis contraction, limits the growth of the disposable plastic blood bag market.
Surge in the number of mergers and acquisitions is a prominent trend in the disposable plastic blood bag market. The companies operating in this market are seeking to acquire or merge with the other market players in the industry, on account of various strategic business reason.
Disposable Plastic Blood Bag Market Competitive Landscape
Kawasumi Laboratories Inc., Neomedic Limited, Haemonetics Corporation, Grifols International S.A., JMS Co. Ltd., AdvaCare Pharma, Fresenius SE & Co. KGaA, Macopharma, Genesis BPS, SURU International Pvt. Ltd., Nigale Biomedical Inc. of Sichuan Province Corporation (Nigale), Terumo Corporation, Shandong Weigao Group Medical Polymer Company Limited, and Shanghai Transfusion Technology Co. Ltd., are some of the major players present in the global disposable plastic blood bag market.
Key Questions Answered in the Report:
What is the current scenario of the disposable plastic blood bag market
Historical and present size of the market segments and their comparative future potential
Major catalysts for the disposable plastic blood bag market and their impact during the short, medium, and long terms
Evolving opportunities for the players in the disposable plastic blood bag market
Key geographies from the investment perspective
Key strategies adopted by the major players to expand their market share