Blood Bags Market by Type and Geography - Forecast and Analysis 2022-2026

  • Published: Nov 2021
  • Pages: 120
  • SKU: IRTNTR71544
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The blood bags market share is expected to increase by USD 226.28 million from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 8.79%.

This blood bags market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers blood bags market segmentation by type (collection bag and transfer bag) and geography (North America, Asia, Europe, and ROW). The blood bags market report also offers information on several market vendors, including AdvaCare International, B L Lifesciences Pvt Ltd., Fresenius SE and Co. KGaA, Grifols SA, Haemonetics Corp., JMS Co.Ltd., Neomedic International, Poly Medicure Ltd., Qingdao Sinoland International Trade Co. Ltd., and Terumo Corp. among others.

What will the Blood Bags Market Size be During the Forecast Period?

Download the Free Report Sample to Unlock the Blood Bags Market Size for the Forecast Period and Other Important Statistics

 

Blood Bags Market: Key Drivers and Trends

The rising number of hospitals and blood banks is notably driving the blood bags market growth, although factors such as low availability of blood storage/transfusion facilities in rural markets may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the blood bags industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Blood Bags Market Driver

One of the key factors driving growth in the blood bags market is the rising number of hospitals and blood banks. Hospitals and patient care centers are expanding, owing to the rising prevalence of chronic diseases, medical emergencies, and disease outbreaks as a result of the growing population. Due to the growing patient pool for medical emergencies and communicable diseases, healthcare service providers require large quantities of whole blood and blood components. Emergency surgeries require whole blood and various blood components to compensate for the blood loss before or during the procedure. To meet the high demand for blood and blood components, hospitals depend on in-house and independent blood banks. Furthermore, the demand for whole blood and blood derivatives is growing with the improvement in modern healthcare systems, an increase in life expectancy, and the high incidence of diseases.

Key Blood Bags Market Challenge

The low availability of blood storage/transfusion facilities in rural markets will be a major challenge for the blood bags market during the forecast period. Rural areas exhibit a low demand for healthcare facilities and services due to low disposable incomes. Therefore, the requirement and consumption of blood for blood transfusions are low, which is a major reason for the limited development of independent blood banks in these markets. Low disposable incomes and healthcare spending in rural markets are hindering the growth of private hospitals, diagnostics centers, and clinics, which, in turn, restricts the growth of hospital-associated blood banks. With the low penetration of blood bags, the supply cost incurred by manufacturers and suppliers increases, owing to the high costs of logistics, transportation, and warehousing. This increased cost lowers the profit margin of suppliers and manufacturers in the global blood bags market.

This blood bags market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Who are the Major Blood Bags Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

  • AdvaCare International
  • B L Lifesciences Pvt Ltd.
  • Fresenius SE and Co. KGaA
  • Grifols SA
  • Haemonetics Corp.
  • JMS Co.Ltd.
  • Neomedic International
  • Poly Medicure Ltd.
  • Qingdao Sinoland International Trade Co. Ltd.
  • Terumo Corp.

 

This statistical study of the blood bags market encompasses successful business strategies deployed by the key vendors. The blood bags market is fragmented and the vendors are deploying growth strategies such as capitalizing on the popularity of online media to compete in the market.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The blood bags market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies. 

Which are the Key Regions for Blood Bags Market?

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42% of the market’s growth will originate from North America during the forecast period. The US and Canada are the key markets for blood bags in North America. Market growth in this region will be faster than the growth of the market in the European and ROW regions.

The rising number of road accidents and sports injuries, the growth in the number of different surgical procedures, the increasing number of blood donors, and the rising prevalence of different types of cancer will facilitate the blood bags market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

What are the Revenue-generating Type Segments in the Blood Bags Market?

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The blood bags market share growth by the collection bags segment will be significant during the forecast period. The demand for collection bags will increase owing to the increasing number of blood donation camps, increasing awareness about blood donation necessities and requirements in countries like India. Advanced, standardized coiling methods are used during the manufacturing of these bags to prevent kinks to ensure a free flow during blood separation and collection. Furthermore, these bags help in extending the storage of red blood cells and lowering the viscosity of packed red blood cells for easy transfusion, which leads to the maximized harvesting of plasma. These advantages drive the demand for blood collection bags for relevant purposes.

This report provides an accurate prediction of the contribution of all the segments to the growth of the blood bags market size and actionable market insights on post COVID-19 impact on each segment.

 

Blood Bags Market Scope

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of 8.79%

Market growth 2022-2026

$ 226.28 million

Market structure

Fragmented

YoY growth (%)

8.10

Regional analysis

North America, Asia, Europe, and ROW

Performing market contribution

North America at 42%

Key consumer countries

US, China, Japan, Germany, and Canada

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

AdvaCare International, B L Lifesciences Pvt Ltd., Fresenius SE and Co. KGaA, Grifols SA, Haemonetics Corp., JMS Co.Ltd., Neomedic International, Poly Medicure Ltd., Qingdao Sinoland International Trade Co. Ltd., and Terumo Corp.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period

Customization purview

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What are the Key Data Covered in this Blood Bags Market Report?

  • CAGR of the market during the forecast period 2022-2026
  • Detailed information on factors that will drive blood bags market growth during the next five years
  • Precise estimation of the blood bags market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the blood bags industry across North America, Asia, Europe, and ROW
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of blood bags market vendors

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Executive Summary

    Market Landscape

    • Market ecosystem
    • Value chain analysis

    Market Sizing

    • Market definition
    • Market segment analysis
    • Market size 2021
    • Market outlook: Forecast for 2021 - 2026

    Five Forces Analysis

    • Bargaining power of buyers
    • Bargaining power of suppliers
    • Threat of new entrants
    • Threat of substitutes
    • Threat of rivalry
    • Market condition

    Market Segmentation by Type

    • Market segments
    • Comparison by Type
    • Collection bag - Market size and forecast 2021-2026
    • Transfer bag - Market size and forecast 2021-2026
    • Market opportunity by Type

    Customer landscape

      Geographic Landscape

      • Geographic segmentation
      • Geographic comparison
      • North America - Market size and forecast 2021-2026
      • Asia - Market size and forecast 2021-2026
      • Europe - Market size and forecast 2021-2026
      • ROW - Market size and forecast 2021-2026
      • Key leading countries
      • Market opportunity by geography
      • Market drivers
      • Market challenges
      • Market trends

      Vendor Landscape

      • Overview
      • Vendor landscape
      • Landscape disruption

      Vendor Analysis

      • Vendors covered
      • Market positioning of vendors
      • AdvaCare International
      • B L Lifesciences Pvt Ltd.
      • Fresenius SE and Co. KGaA
      • Grifols SA
      • Haemonetics Corp.
      • JMS Co.Ltd.
      • Neomedic International
      • Poly Medicure Ltd.
      • Qingdao Sinoland International Trade Co. Ltd.
      • Terumo Corp.

      Appendix

      • Scope of the report
      • Currency conversion rates for US$
      • Research methodology
      • List of abbreviations

      Research Framework

      Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

      TechnavioINFORMATION SOURCES

      Primary sources

      • Manufacturers and suppliers
      • Channel partners
      • Industry experts
      • Strategic decision makers

      Secondary sources

      • Industry journals and periodicals
      • Government data
      • Financial reports of key industry players
      • Historical data
      • Press releases
      Technavio

      TechnavioDATA ANALYSIS

      Data Synthesis

      • Collation of data
      • Estimation of key figures
      • Analysis of derived insights

      Data Validation

      • Triangulation with data models
      • Reference against proprietary databases
      • Corroboration with industry experts
      Technavio

      TechnavioREPORT WRITING

      Qualitative

      • Market drivers
      • Market challenges
      • Market trends
      • Five forces analysis

      Quantitative

      • Market size and forecast
      • Market segmentation
      • Geographical insights
      • Competitive landscape
      Interested in this report?
      Get your FREE sample now!
      The blood bags market growth will increase by $226.28 million during 2021-2026.
      The blood bags market is expected to grow at a CAGR of 8.79% during 2021-2026.
      Technavio has segmented the blood bags market by type (Collection bag and Transfer bag) and geographic (North America, Asia, Europe, and ROW).
      AdvaCare International, B L Lifesciences Pvt Ltd., Fresenius SE and Co. KGaA, Grifols SA, Haemonetics Corp., JMS Co.Ltd., Neomedic International, Poly Medicure Ltd., Qingdao Sinoland International Trade Co. Ltd., Terumo Corp. are a few of the key vendors in the blood bags market.
      North America will register the highest growth rate of 41.78% among the other regions. Therefore, the blood bags market in North America is expected to garner significant business opportunities for the vendors during the forecast period.
      • US
      • China
      • Japan
      • Germany
      • Canada
      The key factors driving the blood bags market growth are:
      • Rising number of hospitals and blood banks
      The blood bags market vendors should focus on grabbing business opportunities from the collection bag segment as it accounted for the largest market share in the base year.
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