NEW YORK, Aug. 19, 2020 /PRNewswire/ -- Disposable blood bags have overshadowed the usage of glass bottles for the collection, storage, transfer, and processing of blood and blood components such as RBCs, plasma, etc. This is because of convenience and mechanical strength of polyvinyl chloride (PVC) bags over glass bottles, which require exhaustive cleaning and sterilization before each use.
Increasing tender-based purchasing practices of blood collection bags by government blood banks and hospitals is also expected to boost the growth of the global disposable blood bags market over the forecast period. Moreover, increasing need for blood and blood-derived products is escalating the demand for disposable blood bags.
According to a latest market report published by Persistence Market Research, the disposable blood bags market is set to expand at an impressive CAGR of over 9%, to be valued at more than US$ 700 Mn by 2030.
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Key Takeaways from Disposable Blood Bags Market Study
- Globally, Asia Pacific is expected to lead the global disposable blood bags market throughout the forecast period, owing to increasing number of voluntary and repeat blood donors in countries such as India and Bangladesh.
- Based on sales channels, the tender sales channel segment is expected to contribute maximum to the global market for disposable blood bags. This is attributed to lower cost of blood bags for tender-based purchasing.
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- Among the various end users, disposable blood bags find maximum opportunity in blood banks, followed by non-governmental organizations. Demand from blood banks for disposable blood bags is expected to increase significantly over the forecast period, due to increasing voluntary blood donation as a result of improving services offered by public and private blood banks.
- Significant delays and rescheduling of diagnosis and treatment of blood-related diseases due to priority given to COVID-19 treatment will lead to short-term decline in the growth of the disposable blood bags market
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