Global Blood Transfusion Devices Market Size (2024 - 2029)

Blood Transfusion Devices Market Analysis

The Global Blood Transfusion Devices Market size is estimated at USD 7.39 billion in 2024, and is expected to reach USD 10.45 billion by 2029, growing at a CAGR of 7.19% during the forecast period (2024-2029).

Market growth is being driven by several factors, including an uptick in surgical procedures, a rise in blood disorders, and technological advancements in transfusion devices. Blood transfusions are most commonly required in surgeries such as cardiovascular procedures, C-sections, and treatments for trauma and accident injuries. As the demand for blood in these surgeries grows, so does the need for blood transfusion devices.

For instance, data from the Health Sciences Authority (HSA) in September 2024 revealed that Singapore's national authority collected 122,668 whole blood donations and 8,378 apheresis donations in 2023. Furthermore, HSA noted that Singapore's hourly requirement is 14 units of blood, amounting to 325 units daily and a staggering 118,750 units annually. This underscores the heightened demand for blood, especially for surgeries, suggesting a corresponding rise in the need for blood transfusion devices and, consequently, market growth during the study period.

Blood-related disorders like leukemia, lymphoma, myeloma, and myelodysplastic syndromes (MDS) impact the bone marrow, blood cells, lymph nodes, and the broader lymphatic system. Apheresis technology has been pivotal in managing these conditions, especially in controlling white cell counts until other medications take effect. For instance, the American Cancer Society reported in January 2023 that the U.S. recorded approximately 59,610 new cases of leukemia and about 20,380 new cases of acute myeloid leukemia (AML) in 2023. Blood transfusions play a crucial role in replenishing red cells, platelets, and other components for patients with these disorders. Given the rising prevalence of blood-related diseases, the demand for blood transfusion devices is poised to grow, positively influencing market expansion.

In summary, the escalating demand for blood and the rising prevalence of blood-related disorders are set to drive the need for blood transfusion devices, fueling market growth in the coming years. Yet, challenges like stringent regulations and the high costs of managing blood and its components could temper this growth.

Blood Transfusion Devices Industry Segmentation

As per the scope of the report, blood transfusion is a process in which blood and blood products are collected and transfused into one’s circulation intravenously. Blood transfusion devices include medical devices used in the collection, processing, separation, and preservation of blood and blood products. 

The blood transfusion devices market is segmented by product, end-user, and geography. By product, the market is segmented into blood bags and accessories, blood mixers, filters, blood component separators, apheresis devices, pathogen reduction systems, consumables and supplies, and other products. By end-user, the market is segmented into hospitals, ambulatory surgery centers, blood banks, and other end-users. By geography, the market is segmented into North America, Europe, Asia-Pacific, the Middle East and Africa, and South America. The market report also covers the estimated market sizes and trends for 17 different countries across major regions globally. The report offers the value (in USD) for the above segments.