Monday, 8 July 2013

Market Overview: Global Industry Blood Processing Supplies and Equipment Market Size 2012 - 2018

Demand for blood and blood products are increasing globally with increase in the spread of infectious diseases through donated bloods. Increase in the number of surgical procedures such as open heart surgeries gives a boost to the blood processing supplies and equipment market. The average adult body contains between 4.7 and 5.2 liters of blood and a significant amount of blood is lost during critical surgeries and traumatic incidences. This phenomenon results into high rate of mortality. Thus, to decrease the death rate because of loss of blood, transfusion techniques came into existence in 1900s. 

Blood transfusion is the process of transfer of blood and its components from one person to another person’s blood stream. Blood supplies form an important part of hematologic care. It is estimated that every year in the U.S. more than 18 million units of red blood cells, plasma, platelets are transfused to treat hematologic diseases such as severe leukemia, anemia and sickle cell disease. However, regular transfusions have been associated with risk to patients, especially clotting factor concentrates and spread the virus quickly. Thus, this prompted the demand for development of improved blood collection and processing equipment.

With the increase in aging population which is mostly prone to many hematological conditions, will likely increase the blood demand and hence drive the blood supplies market. However, it is estimated that in the next 5 to 10 years, blood supply needs to be increased in developed countries to meet the rapidly growing demand. Thus, to meet the continuous need for blood, newer techniques of refrigeration and plasma storage have been formulated. Blood banks have become a standard part of medical practice for catering the blood needs of patients.

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