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Global Blood Bags Market to Grow at 9.3% During 2022-2027, Spurred by Increasing Incidences of Fatal Accidents

Published on Nov 24, 2020

According to the latest report by IMARC Group, titled “Blood Bags Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” the global blood bags market reached a value of US$ 241.4 Million in 2021. Blood bags are small flexible pouches used to collect, process, store and transport blood and its components. These bags are generally made using polyvinyl chloride (PVC), which offers high permeability to oxygen and carbon dioxide. They prevent blood from contamination and coagulation and offer abrasion resistance, reliability, ease in labeling, enhanced durability, and low maintenance.

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

Global Blood Bags Market Trends:

The rising incidences of fatal accidents represent one of the key factors driving the blood bags market. Apart from this, a considerable rise in the demand for sterile biomedical devices for the transportation and transfusion of blood and its components like plasma and platelets is acting as another growth-inducing factor. Furthermore, governing agencies of numerous countries are undertaking initiatives to conduct blood donation camps in schools, colleges, and offices, which is positively influencing the sales of blood bags around the world. Other factors, including the growing prevalence of blood-related medical ailments, such as hemophilia, anemia, and the increasing number of blood transfusion procedures, are catalyzing the demand for blood bags across the globe. Looking forward, IMARC Group expects the market to grow at a CAGR of 9.3% during 2022-2027.

Market Summary:

  • Based on the product type, the market has been segregated into single, double, triple, quadruple and penta blood bags.
  • On the basis of the application, collection blood bag exhibits a clear dominance in the market.
  • Based on the end user, the market has been segmented into hospitals, clinics, ambulatory surgical centers, blood banks, and others. At present, hospitals hold the largest market share.
  • On the basis of the material, the market has been classified into poly vinyl chloride, polyethylene terephthalate, and other blood bags. Poly vinyl chloride blood bags currently account for the majority of the total market share.
  • Based on the capacity, the market has been divided into 100, 150, 250, 300, 350, 400, 450 and 500ml blood bags.
  • Region-wise, the market has been categorized into North America (the United States and Canada); Europe (Germany, France, United Kingdom, Italy, Spain, Russia, and others); Asia Pacific (China, Japan, India, South Korea, Australia, Singapore, and others); Latin America (Brazil, Mexico, Argentina, and others); and Middle East and Africa (the UAE, Turkey, South Africa, Saudi Arabia, and others). Amongst these, North America enjoys the leading position in the market.
  • The competitive landscape of the market has been examined, with some of the key players being AdvaCare Pharma, BL Life Sciences Pvt. Ltd, Demophorius Healthcare Ltd., Fresenius SE & Co. KGaA, Grifols S.A., Haemonetics Corporation, HLL Lifecare Limited, Innvol Medical India Limited, JMS Co. Ltd., Kawasumi Laboratories Inc., Maco Pharma International GmbH, Mitra Industries Pvt. Ltd., Neomedic Limited, Poly Medicure Ltd., Span Healthcare Private Limited, Suru International Private Ltd., Teleflex Incorporated, Terumo Corporation, The Metric Company and Troge Medical GmbH.

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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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