The global autotransfusion devices market is expected to reach US$ 1,283.52 Mn in 2027 from US$ 936.64 Mn in 2019
NEW YORK, March 18, 2020 /PRNewswire/ --
The global autotransfusion devices market is expected to reach US$ 1,283.52 Mn in 2027 from US$ 936.64 Mn in 2019. The market is estimated to grow with a CAGR of 4.1% from 2020-2027.
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The growth of the autotransfusion devices market is estimated to due to driving factors such as involvement of rare blood groups, rising number of transplant procedures and rising prevalence of chronic diseases. However, the risks associated with autotransfusion is expected to restraint the growth of the market during the forecast years.
Chronic diseases such as cancer, cardiovascular diseases, and renal disorders are the major causes for human death. The treatment of such diseases involves surgical procedures; during the procedure, there is a chance of excessive blood loss. The loss can be compensated by infusing fresh blood or reinfusion of the patient's blood with the help of autotransfusion devices
According to the data published by the National Institute of Cancer Prevention and Research (NICPR) and Indian Council of Medical Research (ICMR), the prevalence of cancer in India is estimated to be about 2.25 million every year. Thus the patient undergoes surgical procedures which includes the removal of tumors and organs as a part of cancer treatment. During this procedure there can be excessive blood loss, this loss of blood can be made up to with the help of autotransfusion devices or supply of external blood.
The market is segmented into type, application and end user.Based on type the market is segmented as product, and accessories.
On the basis of application the market is divided into cardiac surgeries, orthopedic surgeries, organ transplantation, trauma procedures, and others. And based on the end user the market is categorized as hospitals, specialty clinics, and ambulatory surgery centers.
Some of the important primary and secondary sources included in the report are Australian Blood Management, Department of Industrial Policy and Promotion, National Institute of Metrology Standardization and Industrial Quality, Northern Ireland Blood Transfusion Service, National Institute of Cancer Prevention and Research, Saudi Commission for Health Specialties, World Health Organization, and Food and Drug Administration among others.
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