Blood Processing and Storage Equipment Market Size - By Product (Device [Plasma Freezer, Hematocrit Centrifuge, Warmer] Consumable (Blood Lancet, Filter, Administration Set), End-use – Global Forecast, 2023-2032
Published on: 2024-07-20 | No of Pages : 240 | Industry : Healthcare
Publisher : MIR | Format : PDF&Excel
Blood Processing and Storage Equipment Market Size - By Product (Device [Plasma Freezer, Hematocrit Centrifuge, Warmer] Consumable (Blood Lancet, Filter, Administration Set), End-use – Global Forecast, 2023-2032
Blood Processing and Storage Equipment Market Size
Blood Processing and Storage Equipment Market size was valued at USD 44 billion in 2022 and is estimated to account for USD 87.6 billion by 2032. Blood processing and storage equipment are crucial components of healthcare systems and blood banks.
These devices ensure that donated blood is properly processed, stored, and transported to patients in need. The demand for early disease diagnosis has been increasing globally due to several factors, including advances in medical technology, rising awareness, and the growing burden of chronic diseases. Cancer is one of the leading causes of death worldwide. As per statistics, in 2023, nearly 1,958,310 new cancer cases are anticipated to occur in the U.S.
Report Attribute | Details |
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Base Year | 2022 |
Blood Processing and Storage Equipment Market Size in 2022 | USD 44 Billion |
Forecast Period | 2023 to 2032 |
Forecast Period 2023 to 2032 CAGR | 7.1% |
2032 Value Projection | USD 87.6 Billion |
Historical Data for | 2018 to 2022 |
No. of Pages | 100 |
Tables, Charts & Figures | 296 |
Segments covered | Product, End-use, and Region |
Growth Drivers |
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Pitfalls & Challenges |
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The number of road traffic accidents worldwide is rising, which is accelerating the need for diagnostic tests, thereby also boosting the demand for blood processing and storage equipment. For instance, as per WHO, more than 1.35 million people lose their lives in traffic accidents each year.
COVID-19 Impact
The COVID-19 pandemic had a significant impact on the blood testing market, which accounted for USD 74.9 billion in 2022, primarily due to increased demand for diagnostic procedures. Due to the pandemic, there was a substantial increase in demand for blood storage equipment such as refrigerators and freezers. The blood and blood components are required to be stored at specific temperatures to maintain their integrity and prevent degradation.
Blood Processing and Storage Equipment Market Trends
The growing preference for technologically advanced equipment across the healthcare sector is predicted to boost the adoption of the devices. For instance, in March 2022, Mindray unveiled its BC-700 Series, a novel hematology analyzer series that consists of both erythrocyte sedimentation rate (ESR) and complete blood count (CBC) tests.
- Furthermore, many government organizations are making efforts to improve the storage and maintenance of blood & blood components to tackle a wide range of health issues and critical injuries.
- For instance, in August 2022, the U.S. Department of Health & Human Services (HHS) announced the launch of ‘Giving = Living’, a campaign aimed at increasing awareness of the significance of donating blood and plasma.
Blood Processing and Storage Equipment Market Analysis
The market by product is categorized into devices and consumables. The devices segment is sub segmented into plasma freezers, blood bank & lab refrigerators, lab, ultralow temperature, & shock freezers, grouping analyzers, warmers, hematocrit centrifuges, and cell processors. The consumables segment is further subdivided into blood administration sets, blood bags, blood collection needles, blood collection tube, blood filters, blood lancets, blood grouping reagents, blood coagulation reagents, hematology reagents, and other consumables. The devices segment garnered USD 28.1 billion revenue size in the year 2022.
- Devices are primarily used owing to their cost-efficiency, safety, accurate results, among others. Automated devices can perform tasks with a high degree of accuracy, reducing the margin of error that might be present with manual consumable use.
- Additionally, devices can be used repeatedly, reducing the ongoing costs associated with disposable items. Equipment can often be adapted or reconfigured for different types of processing. This flexibility is not always possible with consumables, which are designed for specific purposes.
The blood processing and storage equipment market by end-use is categorized into blood banks, hospitals & clinics, diagnostic laboratories, and others. The blood banks segment garnered USD 15.7 billion revenue size in the year 2022.
- Blood processing and storage equipment devices play a crucial role in blood banks, ensuring the safety, efficiency, and availability of blood products for medical treatments. Their efficiency ensures a quick turnaround time, enabling blood banks to supply hospitals and medical facilities promptly.
- Furthermore, efficient processing and storage equipment can help blood banks handle a larger volume of donations, leading to an increased blood supply. This is particularly important during emergencies or disasters when the demand for blood products surges.
U.S. blood processing and storage equipment market accounted for USD 16.6 billion revenue size in 2022.
- The U.S. has solidified its dominant position in the industry, primarily due to the annual increase in the demand for blood components. For instance, according to the American Red Cross, around 16 million blood components are transfused every year in the U.S.
- Besides, cancer cases are increasing at an alarming rate. According to the American Cancer Society, in 2022, around 1.9 million new cases of cancer were diagnosed in the U.S.
- Furthermore, U.S. advanced healthcare infrastructure, leadership in innovative medical practices, high surgical volumes, and accessibility to advanced products contribute to its central role in the industry.
Blood Processing and Storage Equipment Market Share
The blood processing and storage equipment industry is consolidated, with major players such as Becton, Dickinson, and Company (BD), and few others dominating the market. These companies are focused on continuous product innovation to secure a significant market share. In July 2021, BD stated that it had acquired Velano Vascular, a business that specialises in creating and manufacturing technologies for no-needle blood draws. The purchase is consistent with the company’s expansion strategy to enter various categories that address unmet needs and have a more favourable impact on patients and healthcare systems.
Some of the eminent market participants operating in the Blood processing and storage equipment market include
- Beckman Coulter, Inc.
- Thermogenesis Holdings, Inc.
- Maco Pharma International GmbH
- Immucor, Inc.
- Becton, Dickinson, and Company
- Bio-Rad Laboratories, Inc.
- Grifols, S.A.
- Abbott Laboratories
- Global Scientific Company
- Sigma Laborzentrifugen GmbH
- Terumo BCT, Inc.
- Poly Medicure Ltd
- Thermo Fisher Scientific, Inc.
- Biomerieux
- F. Hoffmann-La Roche Ltd
Blood Processing and Storage Equipment Industry News
- In January 2022, Hemanext Inc., a manufacturer of medical equipment, announced that the Association for the Advancement of Blood & Biotherapies ("AABB") had recognised Hemanext ONE, the company's cutting-edge blood processing and storage system, for compliance with its industry-recognized quality and safety standards SCoPE Programme. It is the first system to be given this certification of the Hemanext ONE technology, offering both blood processing and storage. These regulatory approvals hasten commercial expansion.
In July 2020, the U.S. Food & Drug Administration (FDA) granted 510(k) clearance to Beckman Coulter, Inc. for its PK7400 Automated Microplate System, a blood banking analyzer. With a maximum of 12 tests per sample and a throughput of up to 300 samples per hour, it offers the highest throughput in the industry for a single analyzer in its class. ABO blood grouping, Rh type, weak D testing, Rh-Kell phenotyping, syphilis, and CMV qualitative screening are all in the assay menu.
Blood processing and storage equipment market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2018 to 2032 for the following segments Click here to Buy Section of this Report
By Product, 2018-2032 (USD Million)
- Devices
- Plasma freezers
- Blood bank refrigerators
- Lab refrigerators
- Lab freezers
- Ultralow temperature freezers
- Shock freezers
- Grouping analyzers
- Warmers
- Hematocrit centrifuges
- Cell processors
- Consumables
- Blood administration sets
- Blood bags
- Blood collection needles
- Blood collection tube
- Blood filters
- Blood lancets
- Blood grouping reagents
- Blood coagulation reagents
- Hematology reagents
- Other consumables
By End-use, 2018-2032 (USD Million)
- Blood banks
- Diagnostic laboratories
- Hospitals & clinics
- Other end-users
The above information is provided for the following regions and countries
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- UAE
- Rest of Middle East & Africa