Blood transport Bags and Boxes Market shall reach a value of $879.3 Million in 2027, growing with a CAGR of 11% during the forecast period of 2020 to 2027.
The blood transport bags and boxes market is driven by the increment in multiple blood transfusion procedures across the globe. This blood transfusion procedure is carried out due to a number of factors which include- unforeseen accidents, trauma, blood-related diseases like hemophilia, thalassemia, etc. wherein the patient requires blood quite often and at regular intervals. There has been a continuous escalation in the number of accidents; the operation that follows it, and also in the number of patients suffering from blood-related diseases. Also, blood donation initiatives taken up by governments and private organizations is another reason for its market surge. They encourage donors to come forward their donate blood through various blood donation programs and camps. All these factors would contribute to boosting the blood transport bags and boxes market globally.
However, a number of other factors restrain the blood transport bags and boxes market. Some of these include fear and myths surrounding blood donation procedures. A sense of fear of losing too much blood due to lack of proper awareness and knowledge is prevalent. Other factors include a lack of awareness and facilities in underdeveloped countries. Also, in some developing countries, the lack of maintenance of hygiene and safety are other reasons which dissuade donors from blood donation. There are also numerous risks revolving around blood transfusion that have to be taken care of by the health care specialists, like blood compatibility. If the blood isn’t compatible between the donor and recipient, a lot of health-related problems might follow in the recipient that includes- allergic reactions, headaches, etc. Under these circumstances, blood is of no use.
Unlike many restraints surrounding the blood bags and boxes market, there are various opportunities that might boost its market. One of the main factors includes, big healthcare infrastructure and lucrative opportunities in emerging countries that would lead to a rise in demand.
Blood Transport Bags and Boxes Growth and Trends
Transportation and storage of reagents or blood samples is as important as that for blood. Blood is collected at body temperature, but to maintain its essential properties, it must be cooled to less than 10 °C to be transported and stored at refrigeration temperatures of around +4 °C until it is used, failing which it loses its ability to transport oxygen or carbon dioxide to and from tissues, respectively, upon transfusion. The risk of bacterial contamination if blood is exposed to warm temperatures. These essential conditions to be maintained trigger the demand for blood transport bags and boxes and drive their market. Added features such as microprocessor control and digital temperature display further boost demand due to the convenience offered. The presence of a forced air-cooling system keeps the internal temperature fluctuation within necessary limits through proper control of air flow and blowing rate which stabilize the inner temperature to a uniform level. Also, finned-type evaporators effectively increase the cooling area and expedite the cooling rate. Built-in heater strips perform the function of defrost and heating in these boxes. In-built safety systems such as an alarming system: both buzzer alarming and flashing light alarming are available for power failure, over temperature, sensor error, abnormal power supply and also high ambient temperature, which are major factors sustaining the growth of the market at a steep rate. The ergonomic design pattern including double-layer blood baskets designed for convenience of usage, double-lock safety design and padlock, LED display with an angle for easy observation add to the utility of the product, resulting in steep market growth.
Disruption in the logistics of transporting commodities across the globe has been affected for the pandemic situation, but it is only a temporary challenge that does not quite reduce demand but only slows down the distribution process.
Blood Transport Bags and Boxes Regional Analysis
The global market for Blood Transport Bags and Boxes is growing at a fast rate. Regions like the Asia Pacific, Latin America, Africa, Europe, and North America contribute to the major proportion to the growth rate, market size, the sales volume, and net worth. North America accounts for a significant proportion of the market’s revenue due to the healthcare infrastructure development. The Asia Pacific is estimated to give significant revenue in the market following India, Japan, China, etc. Europe held the major portion due to rising blood disorders and developing healthcare facilities. Global Blood Collection, including all the blood packing equipment, is estimated to generate around $10,400 million by 2025; and the CAGR growth rate will increase by 5% from 2019 to 2025.
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