Transfusion Technology Market to Register a Steady CAGR of 6.8% Between 2023 – 2031 | Growth Plus Reports

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Newark, New Castle, USA, April 24, 2023 (GLOBE NEWSWIRE) — The global transfusion technology market, estimated at US$ 4.71 billion in 2022, is projected to surpass US$ 8.51 billion by 2031, at a revenue CAGR of 6.8%, according to the latest evaluation by Growth Plus Reports. The study examines the best impactful strategies, macroeconomic conditions, trends and prospects, competitive environments, changing market dynamics, market size, data and projections, and key investment areas.

Key Takeaways:

• The increasing prevalence of chronic and infectious diseases will drive the demand for transfusion technology during the forecast period.

• Increasing blood donation camps will encourage market revenue growth.

• North America will dominate the global market.

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                          Transfusion Technology Market Scope

Market Drivers

The rising prevalence of chronic and infectious diseases such as severe anemia, cancer, hemophilia, renal disease, liver disease, severe infection, sickle cell disease, and thrombocytopenia, and the introduction of technologically improved products are the primary factors driving the revenue growth of the global transfusion technology market. Additionally, the increasing prevalence of Transfusion-transmitted Infections (TTIs) contribute to market revenue growth. Furthermore, increased initiatives for blood donation campaigns, and an increasing need for donor screening support the market’s revenue growth.

Market Segmentation
Growth Plus Reports has analyzed the global transfusion technology market from three perspectives: Product, Application, End User, and Region.

Product Segmentation: Based on the product, the global transfusion technology market is segmented into instruments, disposables & consumables. The instrument segment is further classified into apheresis system & multicomponent system, cell processing and expansion systems, autotransfusion devices, and others. The instruments segment dominates the market with the largest revenue share because, throughout the transfusion process, they help in blood collection, processing, and storage processes such as apheresis, volume control, filtration/adsorption, and plateletpheresis.

Application Segmentation: Based on the application, the global transfusion technology market is segmented into blood screening, and blood group typing. The blood screening segment dominates the market because of the introduction of automated analyzers and the growing necessity for group typing and cross-matching tests prior to transfusion therapy to ensure donor and receiver blood sample compatibility.

End-User Segmentation: Based on the end-user, the global transfusion technology market is segmented into hospital-based laboratories, independent laboratories & blood banks, and others. The hospital-based laboratories segment dominates the market because of the increasing frequency of blood transfusion operations in hospitals.

Regional Growth Dynamics
Based on the region, the global transfusion technology market is segmented into North America, Europe, Asia Pacific, and the Rest of the World. North America dominates the global transfusion technology market with the largest revenue share. The considerable revenue share of North America in the global transfusion technology market can be attributed to the increasing number of trauma cases and surgical procedures, technological advancements, the presence of substantial market players, the ease of access to several assays for testing, and the presence of several independent donation centres.

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Competitive Landscape

The following are the top companies in the global transfusion technology market:

• Medtronic Plc.
• GE Healthcare
• Asahi Kasei Medical
• BAG Healthcare GmbH
• Terumo BCT
• B. Braun Melsungen
• Ortho Clinical Diagnostics
• Fresenius Kabi
• LivaNova
• Kawasumi Laboratories
• Lmb Technologie GmbH

The market for transfusion technology is very competitive and complex. Prominent companies are developing new products and forming strategic alliances to successfully fulfill the growing global demand and maintain a strong market position.

Recent developments:

• Vitestro announced an automated blood collection devices in May 2022. To ensure precise and secure blood collection, the innovative device combines artificial intelligence (AI) and ultrasound-guided 3D reconstruction with robotic needle insertion.
• EryPharm entered the market in April 2021 with cutting-edge technology that can mass-produce red blood cells and produce new blood transfusion sources. The company began a pilot production phase and will increase the production of Cultured Red Blood Cells (cRBC) using Hematopoietic Stem Cells (HSC).

Table of Content

1. INTRODUCTION
   1. Market Ecosystem
   2. Timeline Under Consideration
      1. Historical Years – 2021
      2. Base Year – 2022
      3. Forecast Years – 2023 to 2031
   3. Currency Used in the Report
2. RESEARCH METHODOLOGY 
   1. Research Approach
   2. Data Collection Methodology
   3. Data Sources
      1. Secondary Sources 
      2. Primary Sources 
   4. Market Estimation Approach
      1. Bottom Up
      2. Top Down 
   5. Market Forecasting Model
   6. Limitations and Assumptions
3. PREMIUM INSIGHTS
   1. Current Market Trends (COVID-19 Perspective)
   2. Key Players & Competitive Positioning (2022)
   3. Regulatory Landscape
4. MARKET DYNAMICS
   1. Drivers
   2. Restraints/Challenges
   3. Opportunities
5. GLOBAL TRANSFUSION TECHNOLOGY MARKET – ANALYSIS & FORECAST, BY PRODUCT
   1. Instruments
      1. Apheresis System & Multicomponent System
      2. Cell processing and Cell Expansion System
      3. Autotransfusion Device
      4. Others
   2. Disposables & Consumables
6. GLOBAL TRANSFUSION TECHNOLOGY MARKET – ANALYSIS & FORECAST, BY APPLICATION
   1. Blood Screening
   2. Blood group Typing
7. GLOBAL TRANSFUSION TECHNOLOGY MARKET – ANALYSIS & FORECAST, BY END USER
   1. Hospital Based Laboratories
   2. Independent Laboratories & Blood Banks
   3. Others

TRANSFUSION TECHNOLOGY MARKET TOC

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VALUE PROPOSITIONS RELATED TO THE REPORT:

• Powered with Complimentary Analyst Hours and Expert Interviews with Each Report
• Comprehensive quantitative and qualitative insights at segment and sub-segment level
• Covid 19 impact trends and perspective
• Granular insights at global/regional/country level
• Deep-rooted insights on market dynamics (drivers, restraints, opportunities) and business environment
• Blanket coverage on competitive landscape
• Winning imperatives
• Exhaustive coverage on ‘Strategic Developments’ registered by leading players of the market

CUSTOMIZATION OPTIONS:

• Distributor Landscape Assessment
• Pricing Intelligence
• Customer Base Assessment
• Investment & Initiatives Analysis
• ‘Business Profile’ of Key Players

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