The global disposable plastic blood bag market is expected to generate $484.5 million revenue by 2020, advancing at a CAGR of 9.2% during the forecast period. The growth in this market can be ascribed to the factors, such as growing aging population, increasing government initiatives to raise awareness about the benefits of blood donation, and surge in the prevalence of chronic diseases.
Insights into Market Segments
Single, double, triple, and quadruple bags are some major products available in the disposable plastic blood bag market. Among these products, single disposable plastic blood bags are anticipated to lead the market in terms of growth. It is expected to be the fastest growing category in the global market, throughout the period of analysis. There are several factors responsible for the growth of the market in this category. Some of these include rise in the number of blood transfusion procedures, increasing number of trauma and accident cases, and growing incidence of various blood related disorders.
Further among the various end users in the market, hospitals, as an end-user category accounted for the largest share in the disposable plastic blood bag market, during the historical period. The other end users in this market are blood banks and home healthcare.
North America is expected to continue holding the largest share in the global disposable plastic blood bag market in the coming years. The regional market is likely to advance at a CAGR of 9.4% during the forecast period.
Government initiatives aimed at increasing awareness about the benefits of blood donations will support the market growth
The participation of the government associations across the globe for raising awareness about the benefits of blood donations is a major factor driving the market demand in the disposable plastic blood bag market. International Federation of Red Cross and Red Crescent Societies (IFRC), World Health Organization (WHO), and American Red Cross are examples of some government associations that are working in this field. These organizations are known to encourage people to donate blood and are also involved in conducting blood donation programs at a large scale, across the globe.
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Disposable Plastic Blood Bag Market Competitive Landscape
Some major players present in the global disposable plastic blood bag industry are 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.
DISPOSABLE PLASTIC BLOOD BAG MARKET SEGMENTATION
Market Segmentation by Type
Market Segmentation by End User
Market Segmentation by Geography