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Blood bank devices are used in hospitals and blood banks for application such as blood collection, testing, etc. These devices are used in the processing of blood to ensure safety during the blood transfer.
Market Dynamics
Increasing cases of road accidents across the globe, coupled with rise in number of patients suffering from diseases such as malaria, syphilis, and brucellosis is increasing demand for blood from blood banks which is major factor expected to drive the growth of global blood bank devices market. Road accidents cases registered in countries have witnessed a rapid spike. According to Ministry Of Road Transport And Highways a total of 151,113 people were killed in 480,652 road accidents across India in 2019, an average of 414 a day or 17 an hour. According to Association for Safe International Road Travel, approximately 1.35 million people die in road crashes each year, on average 3,700 people lose their lives every day on the roads. More than 38,000 people die every year in crashes on U.S. roadways. The U.S. traffic fatality rate is 12.4 deaths per 100,000 inhabitants. This is increasing the demand for blood from the blood banks. The government of developed and developing countries is spending high for the development of blood bank infrastructure with the focus on upgrading the traditional instruments, collection devices, and storage devices with advanced solutions. Major players are investing high for product development activities and focus on introduction of innovative solutions are factors expected to augment the growth of global blood bank devices market.
In 2020, Drawbridge Health Inc. focused on enabling personal diagnostic testing launched OneDraw Blood Collection Device. The device is focused on creating a comfortable, convenient, and effortless blood draw experience for both patients and healthcare professionals. This product launch is expected to help the company to enhance the business and increase the customer base.
In 2020, FL Medical the company that specializes in production of blood collection tubes, vacuum blood tubes, disposable test tubes and other disposable launched VACUMED® Tech safety blood collection sets. This product is expected to help the company to increase the revenue share.
Major players approach towards enhancing the business and customers base through strategic merger and acquisition along with focus on partnership with regional players in order to strengthen the distribution channel is factor expected to boost the growth of blood bank devices market. In 2020, BD a global medical technology company signed an agreement with Babson Diagnostics with the focus to enable small-volume blood collection for diagnostic testing in retail settings. This is expected to help the company to increase the business presence. Factors such as high cost of advanced devices and stringent government regulations related to product approval are expected to hamper the growth of global blood bank devices market. In addition, high maintenance cast of equipments is expected to challenge the growth of blood bank devices market. However, increasing investment by major players for development of cost-effective products and establishment of new blood banks by the government are factors expected to create new opportunities for players operating in the target market over the forecast period. In addition, increasing partnership between regional and international players is expected to support the revenue transaction of blood bank devices market.
Segment Analysis by Region
The market in North America is expected to account for major revenue share in the blood bank devices market due to high patient pool suffering from chronic diseases. In addition, favorable business policies by the government and introduction of innovative solutions are factors expected to support the growth of target market.
Rapid technological advancements by major players and increasing cases of trauma and accident cases is expected to increasing demand from advanced blood collection devices from hospitals and blood banks this is expected to boost the growth of regional market.
Competitive Landscape
The global blood bank devices market is high highly competitive due to presence of large number of players and innovative product offerings. In addition, business expansion activities through partnerships and agreements are factors expected to further increase the competition.
Report coverage
Market |
Global Blood Bank Devices Market |
Analysis Period |
2016 – 2027 |
Base Year |
2019 |
Forecast Data |
2020 – 2027 |
Market Stratification |
Product, Application, End Use and Geography |
Regional Scope |
North America, Europe, Asia Pacific, Latin America, and Middle East & Africa |
Report Coverage |
Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis |
Blood Bank Devices Market Segment Analysis, 2019
The global blood bank devices market is segmented into product, application and end use. The application segment is bifurcated into collection, processing, testing, and storage. Among the application the collection segment is expected to account for major revenue share in the target segment. The end use segment is divided into hospital & clinics, diagnostic & pathology labs, academic & research institutes, and blood banks. Among the end use diagnostic & pathology labs segment is expected to account for significant revenue share in the target market.
The players profiled in the report Abbott, Beckman Coulter, Inc., Thermo Fisher Scientific, Inc., Becton, Dickinson and Company, Bio-Rad Laboratories, Inc., Roche Holdings AG, Siemens Healthcare, and TERUMO CORPORATION..
Market Segmentation
Market By Product
Instruments
Collection Devices
Storage Devices
Reagents
Market By Application
Collection
Processing
Testing
Storage
Market By End Use
Hospital & Clinics
Diagnostic & Pathology Labs
Academic & Research Institutes
Blood Banks
Market By Region
North America
Europe
Asia-Pacific
Latin America
Middle East & Africa
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