Blood Bags Market Trends is Electrifying Growth Cycle: Velico Medical, AdvacarePharma, Fresenius Kabi
The blood bags market refers to the industry involved in the production, distribution, and sale of blood bags. Blood bags are medical devices that are used for the collection, storage, and transportation of blood and blood components. These bags are typically made from plastic and are used in blood banks, hospitals, and other healthcare facilities for transfusion purposes. The blood bags market also includes related products such as blood bag tubing, filters, and other accessories.
Some of the key players profiled in the study are Poly Medicure Limited (India), INNVOL Medical India Limited (India), HLL Lifecare Limited (India), Span Healthcare Private Limited (India), TERUMO (Japan), Velico Medical, Inc.(United states), AdvacarePharma (United States), Fresenius Kabi (Germany).
According to HTF Market Intelligence, the Global Blood Bags market to witness a CAGR of 9% during forecast period of 2024-2030. Global Blood Bags Market Breakdown by Application (Hospitals and Clinics, Blood Banks, Other) by Type (Single Collection, Double Collection, Triple Collection, Quadruple Collection, Others) by Size (100ml, 150ml, 250ml, 300ml, 350ml, 400ml, 450ml, 500ml) by Material (PVC, PET, Others) and by Geography (North America, South America, Europe, Asia Pacific, MEA). The Blood Bags market size is estimated to increase by USD 167 Million at a CAGR of 9% from 2024 to 2030. The report includes historic market data from 2019 to 2023E. Currently, market value is pegged at USD 241.88 Million.
Market Trends:
- Growing demand for blood bags due to the increasing number of surgical procedures, trauma cases, and chronic diseases
- Rising demand for disposable blood bags due to the risk of blood contamination and infections
Market Drivers:
- Increase in the number of chronic diseases such as cancer and blood disorders
- Rise in the number of trauma and emergency cases requiring blood transfusions
- Advancements in healthcare infrastructure and increasing healthcare spending
Market Opportunities:
- Expansion of product offerings into emerging markets
- Development of innovative blood bag products to meet changing customer needs
- Strategic partnerships and collaborations with healthcare providers and distributors to increase market share
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