Global Disposable Plastic Blood Bags Market Report, published by Variant Market Research, forecast that the global market is expected to reach $646 million by 2024 from $319 million in 2016, growing at a CAGR of 9.2% from 2016 to 2024. By geography, Asia-Pacific is expected to grow at a CAGR of 9.7% followed by North America during the forecast period.
"Disposable Plastic Blood Bags Market (By Type: Blood Bag, Double Blood Bag, Triple Blood Bag and Quadruple Blood Bag; By End-User: Hospitals, Blood Banks, Home Healthcare, and Others; By Geography: North America, Europe, Asia-Pacific, and Row) Global Scenario, Market Size, Outlook, Trend And Forecast, 2015-2024"
The key drivers supporting the growth of the global disposable plastic blood bags market include growing awareness about blood donations, increasing geriatic population, rising number of chronic and lifestyle diseases, and government initiatives for increasing features of these blood bags. Though, risks related to blood transfusion and poor infrastructure for storage of bloods in many rural areas may hamper the market. Additionally, growing need for blood and blood derived-products and government acquiring blood assemblage bags through tender would provide several growth opportunities during the forecast period.
Type, end-user, and geography are the key segments in the global disposable plastic blood bags market. By type, the market is categorized into single blood bag, double blood bag, triple blood bag, and quadruple blood bag. Among these, single blood bag held the majority of the segment share in 2016. Furthermore, end-user is bifurcated into hospitals, blood banks, home healthcare, and others. Hospitals is anticipated to attain the fastest CAGR during the forecast period, 2016 - 2024.
Geographically, the disposable plastic blood bags market is categorized into North America, Europe, Asia-Pacific, and Rest of the world (RoW). North America accounted for the majority of market share in 2016, i.e., 34.2%. Moreover, Asia-Pacific is anticipated to attain fastest CAGR during the forecast period, 2016 – 2024, due to improving healthcare infrastructure, increasing prevalence of chronic diseases, and increasing popularity of blood donation camps.
The key market players in global market include Grifols, S.A., Fresenius SE & Co, MacoPharma SA, Kawasumi Laboratories, Inc., Neomedic Limited, Sichuan Nigale Biomedical Inc., Shanghai Transfusion Technology Co., Ltd., SURU International Pvt. Ltd., Haemonetics, S.A., and Terumo Corporation, among others.