Global Blood Processing Devices and Consumables Market 2016-2020

Outlook of the global blood processing devices and consumables market

This market study anticipates the global blood processing devices and consumables market to grow at an impressive CAGR of over 8% by 2020. Increasing instances of blood transfusion surgical procedures across the globe will aid in the strong growth of this market during the estimated period. Due to changes in lifestyle, lack of immunity, and other health-related issues, direct and indirect healthcare admission for treatment of medical conditions has increased. This increase in healthcare admissions will spur the need for blood transfusion devices as it provides safe and adequate blood supply to the public and helps maintain safety standards. Furthermore, with the increase in R&D initiatives in regenerative medicine and cell therapies, the global market for blood processing devices and consumables will witness stark growth until the end of the forecast period.

In terms of geography, the global market for blood processing devices and consumables will be dominated by the Americas, which accounted for around 45% of the overall market share during 2015. The extensive use of advanced automation technologies coupled with the large-scale installation of these devices across hospitals, clinics, and blood banks in this region will result in the America’s high market dominion during the next four years. In addition, the US’s high demand for pediatric blood transfusion will also lead to the growth of this market in the region.

Competitive landscape and key vendors