Blood Banking Devices Market to surpass US$ 49.8 billion by 2026

Blood Banking Devices Market
INDUSTRY INSIGHTS, TRENDS, OUTLOOK, AND
OPPORTUNITY ANALYSIS, 2018–2026
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REPORT DESCRIPTION
Blood Banking Devices Market - Insights
The Global Blood Banking Devices Market, by Product Type (Blood Collection Devices (Blood
Collection Needles, Blood Collection Tubes (Serum Collection Tubes, Plasma Collection Tubes,
Heparin Tubes, and Other Tubes), Needles & Syringes, Lancets, Vacuum Blood Collection System,
Blood Bags, and Accessories), Blood Processing Devices (Blood Grouping Analyzers, Blood Cell
Processors, Blood Filters, Centrifuges, and Others), and Blood Storage Devices (Blood Bank
Refrigerators and Blood Bank Freezers)), by Method of Collection (Manual Blood Collection and
Automated Blood Collection), End User (Blood Banks, Hospitals and Other End Users), and Region
(North America, Latin America, Europe, Asia Pacific, the Middle East, and Africa) was valued US$
28.1 billion in 2018 and is projected to exhibit a CAGR of 7.4% over the forecast period (2018 2026), as highlighted in a new report published by Coherent Market Insights.
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Key players operating in the market are adopting strategies such as mergers and acquisitions
to gain competitive edge in the blood banking devices market. For instance, in January 2017,
Hologic, Inc. completed the divestiture of its blood screening business to Grifols for deal
value of US$ 1.85 billion. This divestment will help Hologic to significantly accelerate their
financial flexibility.
In January 2017, Werfen and its subsidiary Instrumentation Laboratory (IL) announced the
acquisition of Accriva Diagnostics, a company engaged in in-vitro diagnostic (IVD) blood
testing at the point-of-care (POC), including their innovative product portfolio spanning
coagulation, platelet aggregation, CO-Oximetry, and incision devices.
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Furthermore, in September 2016, Instrumentation Laboratory (IL) announced the acquisition of
CA Casyso AG and its Tem subsidiaries, a company engaged in in-vitro diagnostic (IVD) testing for
Patient Blood Management (PBM) with their ROTEM testing systems.
Browse 30 Market Data Tables and 35 Figures spread through 182 Pages and in-depth TOC on
‘Blood Banking Devices Market, by Product Type (Blood Collection Devices (Blood Collection
Needles, Blood Collection Tubes (Serum Collection Tubes, Plasma Collection Tubes, Heparin Tubes,
and Other Tubes), Needles & Syringes, Lancets, Vacuum Blood Collection System, Blood Bags,
Accessories), Blood Processing Devices (Blood Grouping Analyzers, Blood Cell Processors, Blood
Filters, Centrifuges, and Others), and Blood Storage Devices (Blood Bank Refrigerators and Blood
Bank Freezers)), by Method of Collection (Manual Blood Collection and Automated Blood
Collection), End User (Blood Banks, Hospitals and Other End Users), and Region (North America,
Latin America, Europe, Asia Pacific, the Middle East, and Africa - Global Forecast to 2026’
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Key players in the blood banking devices market are engaged in developing innovative strategies
such as mobile van blood banking, robotic blood collection system, and blood banking mobile app
to enable easy access to donors, which is expected to show lucrative revenue growth over the
forecast period.
For instance, in May 2017, Poly Medicure Ltd., manufacturer of medical devices in India, launched
their blood banking products in the Indian local market (Haryana), thereby expanding their
geographical presence in the local market.
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Key takeaways of the Blood Banking Devices Market:
• The global blood banking devices market is expected to expand at a CAGR of 7.4% during the
forecast period (2018 – 2026), owing to increasing demand for blood and blood related
components
• Among product type, blood collection devices segment accounted to register largest market
share in product type segment, owing to increasing demand for these devices and necessity of
these devices in blood component analysis at fully automated blood banks and large blood
donation centers
• Among method of collection, manual blood collection segment holds a major market share.
Manual blood collection systems are an easily accessible way for blood collection, which
augment the market share during the forecast period. However, due to continuous
advancements in blood banking associated devices, automated blood collection is expected to
show higher growth rate in the near future.
• Among the End User segment, blood banks accounted to hold higher market share during
forecast period, owing to their increased ability to offer large variety of blood units to
associated hospitals and clinics and their ability to handle extensive amount of blood derived
components, further processing and storage, for an extended period.
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The Global Blood Banking Devices Market, by Product Type (Blood Collection Devices (Blood Collection Needles, Blood Collection Tubes (Serum Collection Tubes, Plasma Collection Tubes, Heparin Tubes, and Other Tubes), Needles & Syringes, Lancets, Vacuum Blood Collection System, Blood Bags, and Accessories), Blood Processing Devices (Blood Grouping Analyzers, Blood Cell Processors, Blood Filters, Centrifuges, and Others), and Blood Storage Devices (Blood Bank Refrigerators and Blood Bank Freezers)), by Method of Collection (Manual Blood Collection and Automated Blood Collection), End User (Blood Banks, Hospitals and Other End Users), and Region (North America, Latin America, Europe, Asia Pacific, the Middle East, and Africa) was valued US$ 28.1 billion in 2018 and is projected to exhibit a CAGR of 7.4% over the forecast period (2018 - 2026), as highlighted in a new report published by Coherent Market Insights.

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