Global Blood Transfusion Devices Market to Exceed $6.2 Billion by 2027

According to Coherent Market Insights, the global blood transfusion devices market is estimated to be valued at $4.18 billion in 2020 and is expected to exhibit a compound annual growth rate (CAGR) of 5.7 percent during the forecast period (2020-2027).
 
The global blood transfusion devices market is expected to witness significant growth, owing to increasing prevalence of blood-related disorders and rising incidence of chronic kidney disorders across the globe. For instance, according to the NIH National Cancer Institute in 2015, 405,815 people were suffering from leukemia in the United States. According to NIH estimates, the number of new cases of leukemia increased on an average rate of 0.3% each year over the past 10 years (from 2006 to 2015).
 
Furthermore, according to the American Cancer Society, currently, around 1.32 million people are living with leukemia and lymphoma disorder. Also, according to the National Kidney Foundation, around 10 percent of the global population is affected by chronic kidney disorders.
 
Increasing ongoing research with launches is expected to inhibit the growth of the blood transfusion market. For instance, in September 2020, according to REALITY trial funded via a grant from Programme de Recherche Médico-Economique (PRME), from the French Ministry of Health. Findings says that blood transfusion strategy in anaemic heart attack patients’ saves blood with no negative impact on clinical outcomes. It is cost effective and saves 30-day cardiac events for a patient. For instance, in April 201, Ecomed Solutions launched HEMAsavR, autologous blood transfusion device, which can be installed in operating theatres to collect lost blood from the patients’ during surgery and return it to their body. These avoids the risk of allogeneic transfusions and expected to enhance the growth of global blood transfusion devices market.
 
The global blood transfusion devices market is expected to exhibit a CAGR of 5.7 percent during the forecast period (2020-2027), owing to increasing launches of blood transfusion devices. In 2019, Ecomed Solutions launched HEMAsavR device for blood capture and transfer to help medical professionals reduce the costliness of allogenic blood transfusions.
 
North America is expected to be the most lucrative region in the global blood transfusion devices market, owing to increasing prevalence and incidence of leukemia in this region. According to Leukemia and Lymphoma Society, 176,200 people in the United States were estimated to be diagnosed with leukemia, lymphoma or myeloma in 2019.
 
Key players operating in the global blood transfusion devices market include Fresenius Kabi AG, Grifols S.A., Tenko International Group Corp, Terumo Corporation, Kawasumi Laboratories Inc., Haemonetics Corporation, Bioelectronica MILANO, RAYS S.P.A., Macopharma SA, B. Braun Melsungen AG, Baxter International Inc., Neomedic Limited, and 3M Company.