Europe Autotransfusion Devices Market to 2027 - Regional Analysis and Forecasts by Type ; Application ; End User ; and Country
NEW YORK, April 22, 2020 /PRNewswire/ -- The autotransfusion devices market in Europe is estimated to reach US$ 360.92 million by 2027 from US$ 273.87 million in 2019; it is projected to grow at a CAGR of 3.6% during 2020–2027.
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The growth of this market primarily attributed to the involvement of rare blood groups, rising number of transplant procedures, and growing prevalence of chronic diseases in Europe.Disadvantages of autotransfusion devices products, including risks associated with the autotransfusion process, and high costs of autotransfusion devices are limiting the growth of the market.
On the other hand, need for reinfusion of blood, and advancements in healthcare facilities and infrastructure are the factors that are expected to have a positive impact on the growth of the autotransfusion devices market in Europe during 2020–2027.
The process of autotransfusion involves the reinfusion of patient's blood collected from the peritoneal cavity or thorax region.The process can be carried out before surgery or during and after the surgery using autotransfusion systems.
Medical procedures such as joint replacement, spinal surgeries, and cardiac surgeries require autotransfusion.These procedures are followed by excessive blood loss, and it is difficult to obtain blood of rare group in emergency cases.
Autotransfusion system facilitates to reinfuse the patient's blood back into the body after the due filtration process.Moreover, it helps reduce the risk of infection, as well as eliminates the problems and complications associated with the banking and administration of homologous donor blood.
It helps prevent the transmission of transfusion-related blood-borne diseases in patients.
In Germany, AB positive is a rarely found blood group, and it was found in ~82.9 million (7.0%) of the population in 2019. Arranging blood in case of medical emergencies involving such people becomes difficult, and in such cases, medical professionals prefer to have an autotransfusion system equipped at their facilities where the patients' blood is reinfused in their bodies. Thus, the medical cases involving rare blood group population are likely to continue to boost the market in the coming years.
In 2019, the accessories segment accounted for the largest share of the autotransfusion devices market in Europe.The prevalence of autologous blood transfusion in major orthopedic and cardiovascular surgeries would spur the demand for autotransfusion devices in this region.
Also, a greater preference for autotransfusion technique over allogeneic one due to higher chances of graft versus host disease-induced infection drives the overall market, thereby fueling the market for accessories.
In 2019, the hospitals segment held a significant share of the autotransfusion devices market in Europe.This segment is also anticipated to hold a considerable portion of the market by 2027 and is likely to register a high CAGR in the market during the forecast period.
The healthcare sector is a priority for the European Union (EU), and this has reflected in the European Regional Development Fund (ERDF – or EFRE in German) program 2014-2020 and the German Länder implementation and tendering of this program. "Horizon Europe," a European Incentive Program for Research and Innovation agreed upon by the EU Council and Parliament, and scheduled to begin on January 1, 2021, also focuses on the healthcare sector as well as related R&D. Such developments are likely to contribute to the autotransfusion devices market in near future. The autotransfusion devices are majorly used during the surgical procedures in hospitals. Hospitals are primary healthcare centers for people, and among the admitted patients, most of them are already suffering from some disorders, related to blood transfusion. Thus, hospitals are contributing a significant market share to the autotransfusion devices market and are expected to continue the trend during the forecast period.
Several significant primary and secondary sources referred to for making this report on the autotransfusion devices market include the World Health Organization (WHO), Centers for Disease Control and Prevention (CDC), and European Journal of Cancer.
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