Global blood bags market is forecast to grow at a CAGR of 10% during 2021-2025

NEW YORK, June 17, 2020 /PRNewswire/ -- Global Blood Bags Market, By Product (Single Blood Bag, Double Blood Bag, Triple Blood Bag, Quadruple Blood Bag, Penta Blood Bag), By Type (Collection Bag, Transfer Bag), By Volume (100ml,150ml, 250ml, 300ml, 350ml, 400ml, 450ml, 500ml), By Material (PVC, PET, Others), By End-User (Hospitals, Clinics, Ambulatory Surgical Center, Blood Banks, Others), By Region, Competition, Forecast & Opportunities, 2025

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Global blood bags market is forecast to grow at a CAGR of 10% during 2021-2025 owing to rising incidences of blood-related disorders and increasing number of road accidents that require immediate blood transfusion.Additionally, government initiatives to boost healthcare sector, rising number of hospitals, blood banks and other healthcare centers are driving the growth of blood bags market across the globe.

Growing awareness over blood donation among citizens is also propelling the demand for blood bags around the globe.

Blood bags are used for the storage, collection, transfusion, and transportation of blood along with the blood components such as RBC, WBC, and blood platelets.Additionally, they also prevent the blood from coagulation and contamination.

However, the hazardous waste created by the excessive usage of blood bags might prove to be a restraining factor for the growth of blood bags market in the coming years. Moreover, stringent regulation by the governments for healthcare practices and services is anticipated to impede the market growth.

The global blood bags market is segmented based on product, type, volume, material, end-user, and region.Based on product, the market is segmented into single blood bag, double blood bag, triple blood bag, quadruple blood bag and penta blood bag.

Among them, the Triple blood bags segment is expected to continue its dominance due to increase in the number of blood transfusion procedures, higher incidences of various blood related disorders and their use in plasma collection.

Among all the regions, Asia-Pacific is expected to dominate the blood bags market in the coming years because of the increase in demand towards the sterility aspects, storage, transfusion and transportation of blood and its components.The region is also undergoing rapid developments, especially in healthcare sector and construction of hospitals & health clinics is also surging, which is anticipated to positively impact the market through 2025.

COVID-19 outbreak is having an adverse impact on the blood bag market as a rising number of people are becoming increasingly concerned about donating blood due to transmission of the virus.

Major players operating in the global blood bags market include Terumo Corporation, Maco Pharma International GmbH, Fresenius SE & Co KGaA, Grifols S.A., Neomedic Limited, Teleflex Incorporated, Qingdao Sinoland International Trade Co., HLL Lifecare Limited, JMS Co.Ltd., Demophorius Healthcare Ltd, Kawasumi Laboratories, Inc., Poly Medicure Ltd., AdvaCare Pharma, Troge Medical GmbH, Haemonetics Corporation and others. The companies are focusing on bringing innovative and environment friendly products to hold their dominance in the blood bags market across the globe.

Years considered for this report:

Historical Years: 2015-2018
Base Year: 2019
Estimated Year: 2020
Forecast Period: 2021-2025

Objective of the Study:

-- To analyze and estimate the market size of global blood bags market from 2015 to 2018.
-- To estimate and forecast the market size of global blood bags market from 2019 to 2025.
-- To classify and forecast global blood bags market based on product, type, volume, material, end-user, company and regional distribution.
-- To identify dominant region or segment in the global blood bags market.
-- To identify drivers and challenges for global blood bags market.
-- To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in global blood bags market.
-- To conduct pricing analysis for global blood bags market.
-- To identify and analyze the profile of leading players operating in global blood bags market.
-- To identify key sustainable strategies adopted by market players in global blood bags market.
The analyst performed both primary as well as exhaustive secondary research for this study.Initially, the analyst sourced a list of blood bags manufacturers across the globe.

Subsequently, the analyst conducted primary research surveys with the identified companies.While interviewing, the respondents were also enquired about their competitors.

Through this technique, the analyst could include the blood bags manufacturers which could not be identified due to the limitations of secondary research. The analyst examined the materials used in manufacturing blood bags, distribution channels and presence of all major players across the globe.
The analyst calculated the market size of global blood bags market using a bottom-up approach, wherein data for various end-user segments was recorded and forecast for the future years. The analyst sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size.

Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by the analyst.

Key Target Audience:

-- Blood bags manufacturers, suppliers, distributors and other stakeholders
-- Healthcare centers including hospitals, clinics, ambulatory surgical centers, etc.
-- Government bodies such as regulating authorities and policy makers
-- Organizations, forums and alliances related to blood bags
-- Market research and consulting firms
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as healthcare centers including hospitals, clinics, ambulatory surgical centers, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.

Report Scope:

In this report, global blood bags market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
-- Market, By Product:
o Single Blood Bag
o Double Blood Bag
o Triple Blood Bag
o Quadruple Blood Bag
o Penta Blood Bag
-- Market, By Type:
o Collection Bag
o Transfer Bag
-- Market, By Volume:
o 100ml
o 150ml
o 250ml
o 300ml
o 350ml
o 400ml
o 450ml
o 500ml
-- Market, By Material:
o PV
o Others
-- Market, By End-User:
o Hospitals
o Clinics
o Ambulatory Surgical Center
o Blood Banks
o Others
-- Market, By Region:
o North America
- United States
- Canada
- Mexico
o Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
o Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Singapore
o Middle East & Africa
- South Africa
- Saudi Arabia
o South America
- Brazil
- Argentina
- Colombia

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in global blood bags market.

Available Customizations:

With the given market data, we offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

-- Detailed analysis and profiling of additional market players (up to five).

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