June 13, 2022 12:00 ET | Source: Future Market Insights Global and Consulting Pvt. Ltd. Future Market Insights Global and Consulting Pvt. Ltd.
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NEWARK, Del, June 13, 2022 (GLOBE NEWSWIRE) -- According to Future Market Insights, the global blood banking equipment market held a valuation of about US$ 14.2 Bn in 2021. As per the study, sales are expected to increase at a CAGR of 4.7% during the forecast period (2022-2032), surpassing US$ 23.4 Bn in 2032.
Need for blood components due to increasing surgical procedures and accidents has always been a matter of concern for blood banks and hospitals. In the U.K. the number of surgeries has been on the rise over the last few years. About 70,000 A&E cases were registered in 2019 in the country. Such cases will mostly require surgical procedures and this will in turn demand more blood banking equipment and products.
Increasing awareness about blood donation is the top priority of all blood transfusion centers. To address this issue, governments across the globe are offering several attractive reimbursement opportunities to volunteer donors.
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For instance, the AABB promotes full insurance coverage and offers lucrative reimbursement that will support the patients’ access to blood products, transfusion services and cellular therapies. The blood banking equipment market will witness immense growth in the upcoming years if such policies are implemented by developing economies as well.
The development of the blood banking equipment market is reliant on automation in blood bank centers, the rising trend of mobile blood drives/ camps, government support and initiatives and an increasing number of blood donors.
“Rising prevalence of chronic blood-related disorders, along with increasing trend of blood donation drives will fuel the blood banking equipment market over the forecast period,” says an analyst of Future Market Insights.
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Acquisitions, partnerships, recognition and product launches are the key strategies adopted by manufacturers and integrators to increase the consumer base in different geographies.
Future Market Insights brings a comprehensive research report on forecasted revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2032. The global blood banking equipment market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to the reader. The study provides compelling insights on the blood banking equipment market segment based on product– (blood collection [blood collection sets, blood bag tube sealer, blood collection mixer, blood bags, reagents, lancets, and others], blood processing [centrifuges, blood filters, blood bank analysers, blood warmers, and plasma thawing baths], blood storage [blood bank refrigerators, blood bank freezers, and test tube racks], and others), and end user (hospitals, and blood banks), across seven major regions.
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Key Market Segments Covered in Blood Banking Equipment Industry Research
Table of Content 1. Executive Summary
3.1. Key Trends Impacting the Market
4.1. Key Promotional Strategies, By Key Manufacturers
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