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

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?

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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	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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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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