NEW YORK, March 7, 2016 /PRNewswire/ -- The global disposable plastic blood bag market accounted for $286.5 million in 2014, and it is expected to grow with a CAGR of 9.2% during 2015-2020. The single disposable plastic blood bag segment dominated the market with about 75% share in 2014. Among end-user, hospital is the largest and fastest growing segment in the disposable plastic blood bag market.
Disposable plastic blood bag market is escalating with high growth rate due to due to increasing prevalence of chronic diseases and growing aging population. In addition, rising initiatives undertaken by government associations to boost awareness about blood donations and advanced features of disposable plastic blood bags are also supporting to the growth of this market.
Disposable plastic blood bags are bio-medical devices which are used in the collection and transportation of human blood. In addition, disposable plastic blood bags bags also help in the separation of blood components, such as platelets, plasma and cryoprecipitate, that are used to treat a range of blood disorders. These bags consist of a single pouch or multiple pouches connected with tubes, needles, and clamps that help in the collection of blood and blood components. Disposable plastic blood bags have completely replaced glass bottles for collection and transportation of blood. This is due to excessive cleaning and autoclaving requirements of glass bottles.
The restraints associated with the global disposable plastic blood bag market include the undeveloped blood collection and storage infrastructure in developing countries and high risk associated with blood donation and transfusion. Specific environmental conditions are very essential for storage of blood and its components and to maintain them in their usable form. However, remote areas of developing countries, such as India and China, have inadequate storage conditions for the donated blood. In addition, irregular and compromised use of sterilized needles and bags increases the risk of infection and sepsis contraction. Increasing numbers of mergers and acquisitions activity and increasing usage of radiofrequency identification (RFID) technology in blood bags are some of the major trends observed in the market.
Geographically, North America is expected to maintain its dominance in the global disposable plastic blood bag market during 2015 - 2020. This is due to growing R&D activities in the blood transfusion technique and increasing prevalence of blood disorders in the region. Europe is expected to witness marginal growth in this market in near future. However, the Asian region is expected to witness the highest growth globally during the forecast period. This is mainly due to growing aging population, increasing prevalence of blood disorders, and initiatives taken by government to improve condition of patients suffering from blood disorders.
The key companies operating in the global disposable plastic Blood bag market include Haemonetics Corporation, JMS Co., Ltd., Kawasumi Laboratories, Inc., Grifols International S.A., AdvaCare Pharma, Fresenius SE & Co. KGaA, Terumo Corporation, Macopharma, Genesis BPS, SURU International Pvt. Ltd., Shanghai Transfusion Technology Co., Ltd., Nigale Biomedical Inc. of Sichuan Province Corporation (Nigale), Neomedic Limited, and Shandong Weigao Group Medical Polymer Company Limited.
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