BLOOD PROCESSING DEVICES AND CONSUMABLES MARKET ANALYSIS

Blood Processing Devices and Consumables Market, By Product Type (Devices (Plasma Freezers, Blood Bank Refrigerators, Lab Refrigerators, Lab Freezers, Ultralow Temperatures, Shock Freezers, Grouping Analyzers, Warmers, Hematocrit Centrifuges, and Cell Processors) and Consumables (Blood Administration Sets, Blood Bags, Blood Collection Needles, Blood Collection Tube, Blood Filters, Blood Lancets, Blood Grouping Reagents, Blood Coagulation Reagents, Hematology Reagents, Slides, Sedimentation Tubes, Slide Stainer, Test Tube Racks, and Vials)), By End User (Hospitals and Clinics, Diagnostic Laboratories, and Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)

Global Blood Processing Devices and Consumables Market– Drivers

Increasing research and development in the field of life sciences: Increasing key developments and growing research in the field of life sciences to carry out the processing of blood efficiently and effectively is expected to boost the global blood processing devices and consumables market growth. For instance, in June 2021, according to Kings College London, neuro-degenerative diseases such as down syndrome can be diagnosed by the levels of protein present in blood called neurofilament light chain. Thus, research and development in blood screening that requires blood processing is expected to drive the global blood processing devices and consumables market growth.
Increasing government initiatives for blood and plasma donations: Increasing government initiatives for the blood and plasma donations is expected to boost demand for blood processing devices and consumables for the storage of blood and plasma. For instance, in August 2022, U.S. Department of Health and Human Services (HHS) launched a campaign named Giving = Living to increase blood and plasma donations in the U.S. The campaign aimed at increasing awareness about importance of donating blood and plasma, and to encourage the U.S. population to develop new and regular donation habits.

Global Blood Processing Devices and Consumables Market: Restraint

High cost of blood processing devices: High cost of the blood processing devices such as plasma freezers or blood bank refrigerators is expected to hinder growth of market over the forecast period. For instance, the average cost of blood bank refrigerator which is manufactured by Biobase, a global company that manufactures scientific equipment, varies between US$ 300 to US$ 950.
Counterbalance: Optimization of manufacturing process of blood processing devices is expected to reduce the cost of blood processing devices