Transfusion Technology Market - Snapshot

A transfusion technology device is an electromechanical device that ensures the safety of a patient during blood transfusion and donation. Transfusion technology devices can be classified as apheresis system, blood component separators, cell expansion system, and auto transfusion devices. Apheresis is a procedure performed either for donation of a blood component or for treatment of a disease by removal of the diseased or disease-causing blood component. Whole blood is extracted from the donor or patient’s body, processed through the apheresis machine, and the desired blood components are separated based on their molecular weight, size, and affinity for particular substance, while the remaining blood is transfused back to the donor or patient. Multicomponent collection system, also known as blood component separator, is a device that processes and separates blood components. Automated cell expansion systems are used for the development of cells for cell therapy. Cell expansion is an important step in the manufacture of cell types. The automated cell expansion system is a closed cell bag bioreactor, which is used to culture the cell under controlled environmental condition with perfusion. The auto transfusion device is an electromechanical device that transfers the patient’s own blood during and after surgery. Rise in the incidence of chronic disorders among the geriatric population is likely to drive the need for safer transfusion devices and transfusion technology, which in turn is projected to propel the global transfusion technology market in the near future. 

transfusion technology market

The global transfusion technology market is characterized by an increase in the incidence of chronic diseases across the world. The market is expanding at a rapid pace, due to implementation of government guidelines about safety of transfusion. The global transfusion technology market is projected to expand at a rapid pace from 2018 to 2026. 

Increase in the geriatric population, which is prone to chronic diseases, large patient pool in developing countries requiring better health care facilities, and investments by public and private players in R&D on transfusion technology to ensure elimination of transfusion-associated infections and reduce the risk of transfusion reactions are key factors that are likely to drive the global transfusion technology market during the forecast period. However, lengthy procedure of obtaining regulatory approval, significant investments required in the innovation of transfusion technology, and increase in minimally invasive procedure that leads to low blood loss are likely to restrain the global market during the forecast period. Transfusion technology devices are gaining popularity among health care professionals, as these have proved to be effective in reducing transfusion reaction. Rising investments for innovation in transfusion technology and partnerships for co-development and commercialization of these devices are expected to fuel the global transfusion technology market in the near future. 

In terms of product, the global transfusion technology market has been classified into instruments and disposables & consumables. The instruments segment has been further bifurcated into apheresis system & multicomponent collection systems, cell processing systems & cell expansion systems, auto transfusion devices, and others. The others segment includes tube sealing system, sterile tubing welder, mixer technology, and point of care hemoglobin meters. The cell processing systems & cell expansion systems segment is projected to dominate the market during the forecast period due to advancements in the treatment of cancer, such as cell therapy. The auto transfusion devices segment is projected to expand at a significant pace during the forecast period. Expansion of the segment can be attributed to the increase in adoption of auto transfusion devices, as the risk associated with transfusion of allogeneic blood is reduced in these devices. Moreover, presence of key companies engaged in R&D and manufacture of innovative and technologically advanced transfusion devices boosts the global market. Furthermore, initiatives by public and private organizations that are aimed at spreading awareness about advantages of blood donation among people have led to a rise in the number of donors. The relatively stable growth rate of the instrument segment can be ascribed to the ‘as it is a capital investment’ in developing countries and stringent regulations regarding manufacture and approval. The disposable & consumables segment is anticipated to expand at an above-average growth rate during the forecast period, due to the high use of these transfusion technology devices by end-users. This is due to the implementation of stringent guidelines by government organizations to reduce the prevalence of transfusion-associated infection. Apheresis devices are predominantly utilized in hospitals and public & private blood banks for blood donation. End-users are increasingly preferring apheresis devices and multicomponent collection systems due to a rise in the demand for therapeutic apheresis. 

Based on end-user, the global transfusion technology market has been classified into hospitals, blood banks, biotechnology & pharmaceutical companies, and others. The blood banks segment is expected to dominate the global transfusion technology market during the forecast period. In terms of region, the global transfusion technology market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America accounted for a major share of the global market in 2017. Europe was another significant market for transfusion technology devices in 2017. Developed health care infrastructure, high rate of adoption of technologies, and relatively high paying capacity of patients in North America and Europe, as compared to those in developing countries, offer growth opportunities to new market entrants. This led the regions to hold a high share in the global market. Considerable expansion of the medical industry in India and China and investments made by global companies in Asia Pacific for establishment of sales subsidiaries, in order to provide support and services to existing customers and attract new customers, are expected to propel the transfusion technology market in Asia Pacific in the next few years. 

Major players operating in the global transfusion technology market are Haemonetics Corporation, Inc., Medtronic plc, Asahi Kasei Medical Co., Ltd., B. Braun Melsungen AG, Cerus Corporation, Fresenius Kabi AG (Fresenius SE & Co. KGaA), GE Healthcare, Miltenyi Biotec, TERUMO BCT, and LivaNova PLC.

Transfusion Technology Market - Overview 

This report studies the current as well as future prospects of the global transfusion technology market. Stakeholders of this report include companies and intermediaries engaged in the manufacture, commercialization, and provision of transfusion technology and new players planning to enter the market. The report comprises an elaborate executive summary, along with a market snapshot, providing overall information on various segments considered in the scope of the study. The section also provides information and data analysis of the global transfusion technology market in terms of product, end-user, and region. 

The global transfusion technology market has been segmented based on product, end-user, and region. In terms of product, the global market has been classified into instruments and disposables & consumables. The instruments segment has been further bifurcated into apheresis system & multicomponent collection systems, cell processing systems & cell expansion systems, auto transfusion devices, and others. The others segment includes tube sealing system, sterile tubing welder, mixer technology, and point of care hemoglobin meters. Based on end-user, the global transfusion technology market has been segregated into hospitals, blood banks, biotechnology & pharmaceutical companies, and others. The blood banks segment is expected to dominate the global transfusion technology market during the forecast period. 

Top-down approach has been employed for determining the size of the global transfusion technology market, using various market indicators obtained from secondary sources, which included analysis of launched products and mapping of demand for transfusion technology of top market players in specific regions. Top-down approach has been used to derive the market size of different product segments, wherein market size of parent market was obtained through secondary sources and analyzed for sales by narrowing down to revenue percentage for product segment through extensive analysis of investor presentations, press releases, primary interviews, and others. Data triangulation is based on both secondary research (top-down and bottom-up approaches) and primary research. Moreover, historical year-on-year growth has been taken into consideration while estimating the market size. Market value and forecast, in terms of US$ Mn, for each segment has been provided for the period from 2016 to 2026. The report also provides compound annual growth rate (CAGR) in percentage for each segment for the forecast period from 2018 to 2026, considering 2017 as the base year. 

The overview section of the report explores market dynamics such as drivers, restraints, opportunities, and key trends that have significant impact on the global transfusion technology market and may influence it in the near future. Market attractiveness analysis has been provided to explain the intensity of competition in the market across regions. These analyses are likely to help market players take strategic decisions to strengthen their positions and grow their share in the global transfusion technology market. The report also comprises technological advancement overview. 

In terms of region, the global transfusion technology market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Market size and forecast for each of these regions have been provided for the period from 2016 to 2026, along with their respective CAGR for the forecast period from 2018 to 2026, considering 2017 as the base year. The report also provides market size and forecast for major countries in the above mentioned regions. A detailed qualitative analysis of factors responsible for driving and restraining the market and growth opportunities has been provided in the overview section. 

Major players operating in the global transfusion technology market are Haemonetics Corporation, Inc., Medtronic plc, Asahi Kasei Medical Co., Ltd., B. Braun Melsungen AG, Cerus Corporation, Fresenius Kabi AG (Fresenius SE & Co. KGaA), GE Healthcare, Miltenyi Biotec, TERUMO BCT, and LivaNova PLC. The global transfusion technology market has been segmented as follows: 

Global Transfusion Technology Market, by Product

  • Instruments
    • Apheresis System & Multicomponent Collection Systems
    • Cell Processing Systems & Cell Expansion Systems
    • Auto transfusion Devices
    • Others
  • Disposables & Consumables 

Global Transfusion Technology Market, by End-user

  • Hospitals
  • Blood Banks
  • Biotechnology & Pharmaceutical Companies
  • Others 

Global Transfusion Technology Market, by Region

  • North America
    • U.S
    • Canada
  • Europe
    • U.K
    • Germany
    • France
    • Italy
    • Spain
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • Australia & New Zealand
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC Countries
    • South Africa
    • Rest of Middle East & Africa
.