Disposable blood bag manufacturers expand business in emerging economies

The global disposable blood bags market was valued at USD 230.1 million in 2017, and is projected to exhibit a CAGR of 12.1 percent from 2018 to 2026, according to Coherent Market Insights. Sickle cell disease affects 90,000–100,000 people in the United States of America. Moreover, around 1000 babies are born with the disease every year. Sickle cell patients often require blood transfusions throughout their lives. Increasing incidence of cancer cases raises a high demand for blood transfusion, which is an important factor impacting growth of the market. According to the American Cancer Society, nearly 1.7 million people were diagnosed with cancer in 2017. Many of them needed blood, sometimes daily, during their chemotherapy treatment. Moreover, growing initiatives from governments and healthcare governing bodies for promoting voluntary blood donation, blood collection, and storage, are expected to drive growth of the disposable blood bags market.

Usage of disposable blood bags eliminates the possibility of any contamination as in case of glass bottles. In recent times, disposable blood bags have gained popularity in hospitals and blood banks to meet blood infusion emergencies. Manufacturers in the disposable blood bags market are focused on expanding their business in emerging economies such as India, which offers untapped growth opportunities due to its increasing population. Emergence of private insurance services, especially through corporatization and commercialization, has contributed to the transformation of the medical sector in emerging economies. Due to rapid commercialization of medical practices with the establishment of multimillion hospitals, nursing homes, and diagnostic centers, demand for disposable blood bags has registered a huge growth rate in recent years. Moreover, government support for increasing usage of biocompatible and development of low price blood bags encourage manufacturers to develop new and low-cost products.