Blood Thawing System Market
Blood Thawing System Market (Product Type: Dry Plasma Thawer and Wet Plasma Thawer; Capacity: 2 Bags, 4 Bags, 8 Bags, and Others; Sample Type: Blood Plasma, RBCs, Platelets, Whole Blood, and Others; and End User: Blood Banks, Transfusion Centers, Hospitals & Diagnostic Laboratories, Pharmaceutical Companies, and Others) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020-2030
Press Release :
Expert Opinions on Transfusion Practices Help Tide Over COVID-19 Uncertainties
The COVID-19 pandemic has had major implications on blood transfusion. Decline in donations, uncertain patterns in the demand, and lack of crucial staff due to sickness and public health restrictions have grappled the blood thawing system market. Thus, stakeholders in the market and healthcare professionals are working closely to adopt contingency planning and refer evolving publications to understand industry trends.
Clinicians and companies in the blood thawing system market are monitoring supply and demand trends to maintain sufficient blood stocks in order to support critical needs of high risk patients. Stakeholders are educating clinicians about practical guidance to support transfusion specialists worldwide. They are offering expert opinions pertaining to transfusion practices in times of potential or real shortage of products and samples.
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GMP Complaint Formulations Overcome Shortcomings of DMSO in Cell Culture
The blood thawing system market is projected to reach ~US$ 400 Mn by 2030 during the forecast period. However, it has become important for companies to overcome cryopreservation challenges. Issues in cell culture processes are affecting advancements in cryopreservation techniques. Thus, serum-free and chemically defined formulations are replacing DMSO (Dimethyl Sulfoxide) in cryopreservation processes.
The residual DMSO is posing as a challenge in cryopreservation for cell culture, owing to its toxicity. Hence, companies in the blood thawing system market are increasing awareness about GMP (Good Manufacturing Practice) complaint formulations that have the potential to be less harmful for cell culture.
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FDA, CE Marked Dry Plasma Thawing Products Preferred for FFP
The market value of dry plasma thawing products is predicted for exponential growth and larger revenue share during the forecast period, as compared to wet plasma thawer. ZipThawTM 202 is gaining recognition in the blood thawing system market for advantages such as decline in errors, cost savings, and reduction in product wastage. Manufacturers are taking cues from such products to increase the availability for lightweight and easy to use dry plasma thawing products.
Manufacturers in the blood thawing system market are developing FDA (Food & Drug Administration) approved, CE marked, ISO certified, and UL listed plasma defrosters to boost their credibility. Applications such as thawing fresh frozen plasma (FFP) and plasma frozen within 24 hours after phlebotomy are creating revenue streams for product manufacturers.
Reliable Umbilical Cord Blood Processing with Robust Instruments Gains Prominence
The blood thawing system market is estimated to register a favorable CAGR of ~8% during the assessment period. Apart from blood plasma and platelets, companies are unlocking business opportunities in cord blood banking. Cytiva— a provider of technologies and services for the healthcare industries is increasing focus in reducing errors in cord blood banking. The reliable umbilical cord blood processing with the help of cutting-edge instruments, software, and kits is translating into value grab opportunities for companies.
Consistent cryopreservation and thawing techniques are being used by companies in the blood thawing system market. They are increasing efforts toward the acquisition of proven technologies and integration. This involves the use of robust cell processing instruments that are being extensively used in research institutes, stem cell banks, and hospitals.
Collaborations with Researchers to Facilitate On-demand Cell Thawing
The Asia Pacific blood thawing system market is predicted for robust growth during the forecast period. Companies are expected to collaborate with research teams from universities such as the Singapore-MIT Alliance for Research and Technology (SMART), which is gaining popularity for its optimized intermediary cryogenic storage protocol. There is a need for products that help to reduce the cell culture time and eliminate the need for continuous blood manufacturing.
Blood thawing techniques are being used in tandem with low cost RBC (Red Blood Cells) purification and targeted sorting applications. Companies in the blood thawing system market are providing devices that help to thaw cells as per demands in RBC purification.
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Addressing the entire transfusion chain from the donor to patient has become necessary during the ongoing coronavirus pandemic. With the help of innovative dry plasma thawing products, users can select presets to thaw and transform frozen plasma for immediate use. Even though DMSO is the standard protocol for cryopreservation processes, it is subject to issues for processes in 3D tissues or organoids in vitrification and devitrification applications. Hence, companies in the blood thawing system market should explore hydrogel systems as conduits for cryopreservation. The GMP ready cryochain hardware and software are being built for reliability and traceability in umbilical cord blood processing. Researchers are developing protocols that enable on-demand thawing and reduce the need for continuous blood manufacturing.
Blood Thawing System Market: Overview
- The global blood system thawing market was valued at ~US$ 174 Mn in 2019. The blood thawing system market is projected to expand at a moderate CAGR from 2020 to 2030. Increase in geriatric population globally, new product launches, collaboration among players, rise in use of thawed cells in the research and treatment of diseases such as diabetes and cancer, surge in surgical operations globally, and high incidence of road accidents are anticipated to boost the global blood thawing system market during the forecast period.
- Presence of key players offering technologically advanced product portfolios and their strong geographic reach are likely to propel the global blood thawing system market. Key industry events, including partnerships, mergers & acquisitions, and collaborations are estimated to fuel the blood thawing system market across the globe.
- Bleeding, also known as hemorrhage, is the name used to describe blood loss. It may refer to blood loss within the body, called internal bleeding, or blood loss outside the body called external bleeding. There are frequent cases of hemorrhagic conditions during surgery procedures, which demands high amount of blood and its components such as plasma and platelets.
- Increase in the number of product launches and collaborations between players are major contributors to the blood thawing system market
- For instance, FreMon Scientific received U.S. FDA approval of its Zip Sleeve and Zip Thaw system in February 2020. Zip Sleeve and Zip Thaw are the next-generation thawing device, which is secure, lightweight, simple to use, dry, and demands almost no servicing.
- In September 2020, Boekel Scientific released the FS100, a novel high capacity floor standing platelet incubator and agitator for loading platelets in hospitals and blood centers. This device can stock up to 100 units of platelets and employs advanced thermoelectric heating and cooling to maintain platelets at the ideal storage temperature.
Blood Thawing System Market: Segmentation
- The global blood thawing system market has been segmented based on product type, capacity, sample type, end user, and region
- In terms of product type, the global blood thawing system market has been segregated into dry plasma thawer and wet plasma thawer. The dry plasma thawer segment accounted for a prominent share of the market in 2019. Dominance of the dry plasma thawer segment can be attributed to various advantages over wet plasma thawer, such as decline in chances of bacterial contamination as the operator’s hands and the plasma packs remain dry.
- In terms of capacity, the global blood thawing system market has been classified into 2 bags, 4 bags, 8 bags, and others. The 8 bags blood thawing devices segment dominated the global blood thawing system market in 2019, owing to the number of benefits offered, including the ease of movement and space utilized as more number of blood samples can be thawed at one time, and highly preferred by professionals during continuous blood thawing process.
- Based on sample type, the global blood thawing system market has been categorized into blood plasma, RBCs, platelets, whole blood, and others. The blood plasma sample segment dominated the market in 2019. The segment’s dominance can be attributed to high usage of blood plasma during surgeries and for disease treatments. Furthermore, increase in road accidents, chronic diseases, and geriatric population also contribute to the segment’s dominance.
- Based on end user, the global blood thawing system market has been classified into blood banks, transfusion centers, hospitals & diagnostic laboratories, pharmaceutical companies, and others. The blood banks segment accounted for a notable share of the market in 2019, as blood banks gather all the donated blood and preserve for later use in blood transfusion. Increase in the number of blood banks and blood donation camps contribute to the increase in blood storage in blood banks, which, in turn, increases the requirement of blood thawing systems in blood banks.
Blood Thawing System Market: Regional Segmentation
- In terms of region, the global blood thawing system market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- North America dominated the global blood thawing system market in 2019. Rise in prevalence of cardiovascular diseases across the globe and increase in the geriatric population are expected to drive the global blood thawing system market during the forecast period. Rise in the number of surgical procedures in developed countries and focus on developing countries by leading market players is likely to propel the global blood thawing system market in the near future.
- The blood thawing system market in Asia Pacific is estimated to expand at a rapid pace during the forecast period. Asia Pacific is a densely populated region and comprises rapidly expanding economies such as India and China. Moreover, Japan is a significant healthcare sector. Asia Pacific is a geographic source of emerging infectious diseases, including multidrug-resistant (MDR) organisms (MDROs), and pathogens with pandemic potential. Risks for emerging infectious diseases in the region are complex and presumed to include ecological, socioeconomic, and technological processes favorable to microbial transmission dynamics.
Blood Thawing System Market: Major Players
- Key players operating in the global blood thawing system market include
- Fremon Scientific Inc.
- Helmer Scientific Inc.
- Barkey GmbH & Co. KG
- Boekel Scientific
- KW Scientific Apparatus Srl
- Cardinal Health
- Cytiva (GE Healthcare)
- Sarstedt AG & Co. KG
- Thermo Fisher Scientific, Inc
- Sartorius AG
- These players focus on adopting various strategies to expand product offerings and strengthen geographic presence across the globe. Technological advancements, mergers & acquisitions, expansion of product portfolio, growth in research & development activities, and focus of companies in expanding their potential business are likely to boost companies’ presence across the globe.
Blood Thawing System Market – Scope of the Report
TMR’s report on the global blood thawing system market studies the past as well as current growth trends and opportunities to gain valuable insights of these indicators for the market during the forecast period from 2020 to 2030. The report provides the overall revenue of the global blood thawing system market for the period 2018–2030, considering 2019 as the base year and 2030 as the forecast year. The report also provides the compound annual growth rate (CAGR) for the global blood thawing system market for the forecast period.
The report has been prepared after an extensive research. Primary research involved bulk of research efforts, wherein analysts carried out interviews with industry leaders and opinion makers. Secondary research involved referring to key players’ product literature, annual reports, press releases, and relevant documents to understand the global blood thawing system market.
Secondary research also included Internet sources, statistical data from government agencies, websites, and trade associations. Analysts also employed a combination of the top-down and bottom-up approaches to study various phenomena in the global blood thawing system market.
The report comprises an elaborate executive summary, along with a snapshot of the growth behavior of various segments and sub-segments included in the scope of the study. Additionally, the report sheds light on the changing competitive dynamics in the global blood thawing system market. These indices serve as valuable tools for existing market players as well as for entities interested in participating in the global blood thawing system market. The next section of the global blood thawing system market report highlights the USPs, which include technological advancements, key industry events (mergers, acquisitions, strategic partnerships, etc.), top 3 players operating in the market space, and COVID-19 pandemic impact on global blood thawing system market
The report delves into the competition landscape of the global blood thawing system market. Key players operating in the global blood thawing system market have been identified, and each one of these has been profiled for distinguishing business attributes. Company overview, financial standings, recent developments, and SWOT are some of the attributes of players profiled in the global blood thawing system market report.
Key Questions Answered in Blood Thawing System Market Report
- What are the sales/revenue generated by blood thawing system manufacturers across all regions during the forecast period?
- What are the key trends in the global blood thawing system market?
- What are the major drivers, restraints, opportunities, and threats in the market?
- Which region is set to expand at the fastest CAGR during the forecast period?
- Which segment will have the highest revenue globally in 2030 and which segment will expand at the highest CAGR during the forecast period?
- Market ranking of different companies operating in the global market in 2019.
Blood Thawing System Market – Research Objectives and Research Approach
The comprehensive report on the global blood thawing system market begins with an overview of the market, followed by the scope and objectives of the study. Following this, the report provides detailed explanation of the objectives of the study and healthcare compliances laid down by accredited agencies in the purview of research in the global blood thawing system market. It is followed by market introduction, market dynamics, and an overview of the global blood thawing system market, which includes TMR analysis of market drivers, restraints, and trends affecting the growth of the market. Furthermore, Y-o-Y analysis with elaborate insights has been provided to understand the Y-o-Y trends of the global blood thawing system market.
For reading comprehensibility, the report has been compiled in a chapter-wise layout, with each section divided into smaller ones. The report comprises an exhaustive collection of graphs and tables that are appropriately interspersed in the compilation. Pictorial representation of actual and projected values of key segments is visually appealing to readers. This also allows comparison of the market shares of key segments in the past and at the end of the forecast period.
Revenue generated by key product manufacturers has been mapped to ascertain the size of the global blood thawing system market in terms of value. The forecast presented here assesses the total revenue generated in the global blood thawing system market. In order to provide an accurate forecast, we initiated by sizing up the current blood thawing market with the help of the parent market.
The report analyzes the global blood thawing system market in terms of product type, capacity, sample type, end user, and region. Key segments under each criteria have been studied at length, and the market share for each of these at the end of 2030 has been provided. These valuable insights would help market stakeholders in making informed business decisions for investments in the global blood thawing system market.
Blood Thawing System Market – Segmentation