Which Emerging Trends Are Driving The Blood Processing Devices And Consumables Market Toward $74.34 Billion By 2029?
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How Is The Blood Processing Devices And Consumables Market Expected To Grow In Terms Of Size?
The value of the blood processing devices and consumables market has experienced robust growth in the past years. The market size is expected to elevate from $47.8 billion in 2024 to $51.21 billion in 2025, with a compound annual growth rate (CAGR) of 7.1%. The substantial expansion during the historical period can be credited to factors such as higher rates of blood donation, progress in transfusion medicine, a growing number of blood disorders, worldwide actions towards safer blood transfusion methods, and an increase in surgical procedures.
The market for blood processing devices and consumables is projected to exhibit robust growth in the upcoming years. By 2029, the market size is forecasted to reach $74.34 billion, with a compound annual growth rate (CAGR) of 9.8%. This anticipated growth during the forecast period is associated with an escalating demand in emerging economies, a growing elderly population, and increased focus on point-of-care blood processing and autologous blood transfusions, as well as a rise in demand for apheresis procedures and collaborations for research and development. Notable trends for the forecast period are expected to include the integration of technology for data management, technological advancements in blood processing, the incorporation of automation and robotics, improvements in apheresis technology and the growing popularity of point-of-care blood processing.
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Which Key Factors Are Fueling Growth In The Blood Processing Devices And Consumables Market?
The increasing prevalence of transmittable illnesses is poised to drive the growth of the blood processing devices and consumables market. Such illnesses, including those caused by bacteria, viruses, fungi, or parasites, are capable of moving from one person to another or from animals to people. The swelling count of these diseases can be traced back to a variety of contributing factors such as urbanization, globalization, shifts in climate, expanding travel, and resistance to antibiotics. These aspects aid in the dissemination of pathogens, thereby increasing the susceptibility of populations to infections. Blood processing devices and consumables contribute significantly to addressing the mounting occurrences of infectious diseases by ensuring the safety of blood transfusions and the efficiency of diagnoses. These devices assist in the examination of blood for harmful agents, which consequently reduces the likelihood of transmission during medical procedures, thereby enhancing patient safety. For instance, the Centers for Disease Control and Prevention, a US government institution, reported that the tally of tuberculosis incidents climbed from 8,320 in 2022 to 9,615 in 2023, showing an uptick of 1,295 cases. Hence, the surging frequency of infectious diseases is projected to propel the advancement of the blood processing devices and consumables market.
How Is The Blood Processing Devices And Consumables Market Categorized Across Applications And Types?
The blood processing devices and consumablesmarket covered in this report is segmented –
1) By Product Type: Devices, Consumables
2) By Devices: Blood Bank Freezers, Blood Grouping Analyzers, Blood Warmer, Blood Cell Processers, Other Devices
3) By Consumables: Blood Bags, Blood Lancets, Vials, Blood Administration Sets, Other Consumables
4) By End User: Hospitals, Diagnostic Centers, Clinics, Academic Institutes, Blood Banks
Subsegments:
1) By Devices: Blood Collection Devices, Blood Separation Devices, Blood Transfusion Devices, Blood Storage Devices, Automated Blood Processing Systems
2) By Consumables: Blood Collection Tubes, Blood Filters, Blood Bags, Reagents And Chemicals, Anticoagulants, Blood Processing Kits
How Are Market Trends Influencing Competition In The Blood Processing Devices And Consumables Market?
Leading businesses in the sector of blood processing devices and consumables are concentrating on technological innovation such as blood collection devices to boost efficiency. A blood collection device is a medical tool devised for the purpose of acquiring blood samples for various needs including diagnostic investigations, transfusions, or studies. For example, Becton, Dickinson, and Company, an American medical technology firm, in May 2024, unveiled UltraTouch – a product designed to simplify the process of blood acquisition while reducing patient discomfort. The device, built with an advanced technology, enables swift and effective venipuncture, guaranteeing a high level of precision in sample collection. Outfitted with a user-friendly interface and ergonomic traits, it caters to the needs of healthcare professionals in diverse settings such as hospitals, clinics, and labs. Particularly beneficial for patients who struggle with anxiety during blood collection, its inventive structure aims to minimize pain and enhance the overall experience. Additionally, it is fitted with safety features to limit the likelihood of needle-stick injuries, positioning it as a popular choice in modern medical procedures.
Which Firms Are Making The Biggest Impact In The Blood Processing Devices And Consumables Market?
Major companies operating in the blood processing devices and consumables market include Thermogenesis Holdings Inc., Maco Pharma International GmbH, Immucor Inc., Bio-Rad Laboratories Inc., Grifols S.A., Abbott Laboratories, Terumo BCT Inc., Beckman Coulter Inc., Becton Dickinson and Company, Biomerieux SA, Danaher Corporation, Global Scientific Company, Haemonetics Corporation, Sigma Laborzentrifugen GmbH, SARSTEDT AG & Co K, Roche Holdings AG, Beurer GmbH, Cardinal Health Inc., Fresenius Kabi AG, Lmb Technologie GmbH, Fenwal Inc., Kawasumi Laboratories Inc., F. Hoffmann-La Roche Ltd, Thermo Fisher Scientific Inc., Poly Medicure Ltd, Medtronic plc., Nipro Corporation, Sekisui Chemical Co Ltd, Greiner Bio-One International GmbH
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Which Region Holds The Greatest Opportunity For Blood Processing Devices And Consumables Market Expansion?
North America was the largest region in the blood processing devices and consumables market in 2024.Asia-Pacific is expected to be the fastest-growing region in the global blood processing devices and consumables market report during the forecast period. The regions covered in the blood processing devices and consumables market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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