Market Trends of Global Blood Bags Industry
Hospitals and Clinics Segment is Expected to Witness Growth Over the Forecast Period
The hospital segment may witness high growth over the estimated timeframe, owing to the increasing number of surgical procedures requiring large amounts of blood supply. The demand for blood supply in hospitals has increased widely due to the rising prevalence of chronic diseases, such as cancer, and the surging number of surgical procedures. Thus, the high demand for blood transfusion procedures in hospitals fuels the segment's growth. For instance, according to the data published by the Ministry of Health and Family Welfare in January 2024, India had approximately 27,742 hospitals in 2024, up from 27,045 hospitals in 2023. Thus, the significant presence of hospitals and clinics is anticipated to fuel the demand for blood bags while performing surgical procedures to ensure an enormous amount of blood supply, which may augment the blood bag market’s growth.
Furthermore, several organizations are focusing on establishing collaborations to enhance blood donation awareness, which is anticipated to expand the blood bag market worldwide. For instance, in September 2024, Fiinovation held its 9th annual blood donation camp in partnership with Deen Dayal Upadhyay Hospital, highlighted the organization's dedication to promoting public health and to contributing its efforts to the rising demands of blood and blood products in hospitals in India. Moreover, in May 2024, BAPS Charities, in collaboration with Canadian Blood Services, organized the "In the Joy of Others Blood Donation Campaign" in Canada and gathered 50 pints of blood, plasma, and stem cells to assist Canadian hospital patients in need. Additionally, the initiative encouraged individuals to register for the Canadian Blood Services Stem Cell Registry, an essential resource for the community. Thus, such initaitives taken by the organizations to enhance blood donation awareness are expected to positively impact the segment growth over the forecast period.
North America is Expected to Witness Considerable Growth Over the Forecast Period
The North America blood bag market has experienced high growth due to increased blood transfusions, the rising prevalence of various diseases, the surge in awareness, and blood donation campaigns carried out by private and government organizations. For instance, in February 2024, according to the Centers for Disease Control and Prevention, approximately 29,000 red blood cells are needed daily, and nearly 5,000 units of platelets and 6,500 units of plasma per day are required for the United States. Thus, the increasing demand for blood products is fueling the market growth.
Additionally, according to the data published by the Canadian Cancer Society in May 2024, 6.6 thousand people in Canada were projected to be diagnosed with leukemia cancer in 2024. Blood transfusion is essential in cancer treatment as it helps provide healthy blood cells to the body, thereby reducing symptoms and side effects. Moreover, some cancers (especially digestive system cancers) cause internal bleeding, leading to anemia and degrading the patients’ condition. Therefore, the high burden of cancer cases and blood transfusion rates are expected to impact the market growth in the North American region positively.
Furthermore, the market players are developing new blood bags to preserve blood for longer, which is expected to increase the demand over the forecast period. For instance, in February 2024, Xheme, Inc. and Vitalant Research Institute are pioneering a blood bag technology that is both non-toxic and free from PVC, aiming to safeguard limited blood resources. Therefore, the growing need for blood infusion units, the high burden of cancers, and company activities are expected to boost the market growth in the region over the forecast period.
