New York, July 19, 2022 (GLOBE NEWSWIRE) -- As per the World Health Organization, one-third of all reproductive women are anaemic; anemia affects 40% of all expectant mothers and 42% of children under the age of five worldwide. In addition to this, there were 890,000 emergency room visits in the United States in 2018 with anemia as the major diagnosis and there were 5,633 anemia-related deaths in 2020 or 1.7 deaths per 100,000 people.
Research Nester has published a detailed market report on ‘Global Blood Collection Monitor Market’ for the forecast period i.e., 2022 – 2031 which includes the ongoing industry innovations and recent trends being adopted by the major industry players to achieve their business targets. Apart from that, the inclusive data on market size, growth rate, market revenue share, growth opportunities and challenges for the market players along with worldwide analysis on five major regions – North America, Latin America, Europe, Asia Pacific and Middle East & Africa has been provided in the report.
Haemophilia affects nearly 1 in every 5,000 male births in the USA, and between 2012 and 2018, the disease was anticipated to affect between 20,000 and 33,000 males in the US, and it was noticed that half of those with hemophilia A have the severe variant, which affects 4 times as many people as haemophilia B does. The global blood collection monitor market to grow at a significant CAGR over the forecast period on the back of the rising prevalence of blood disorders, namely anemia, hemophilia, leucocytosis, and others. In addition to this, the growing demand for blood transfusion in number of urgent, life-saving surgeries and in chronic blood disorders, particularly in patients with dengue and thalassemia is expected to drive market growth over the forecast period. As observed during the research, there has been an over 8 % increase in dengue cases, from 505,430 cases in 2000 to over 2.4 million in 2010, and 5.2 million in 2019.
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Furthermore, the rising geriatric population across the globe who are more prone to acquired blood disorders and opting for urgent life-saving surgeries are estimated to boost the market growth over the forecast period. For instance, the number of persons in the globe who are 60 years or older is predicted to be doubled by 2050 to 2.1 billion, and global frequency of anemia in older people ranges from 10% to 24%. In addition to this, technological advancement in the medical field and increasing investment in the research and development sector across the globe are estimated to drive market growth during the forecast period. It was noticed that global research and development spending has more than tripled in real terms since 2000, rising from USD 677 billion to USD 2.2 trillion in 2019.
On the basis of geographical analysis, the global blood collection monitor market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and Middle East & Africa region. Out of these, the Asia Pacific region is estimated to witness noteworthy growth over the forecast period owing to the increasing incidences of blood disorders, rising geriatric population in the region, and growing awareness about blood disorders among the people. As per a report by the World Bank, it was found that in 2019, 24% of people belonging to the age group of 6 years to 59 years are found to be anaemic in the region. In addition to this, the increasing prevalence of thalassemia and sickle cell disease in the developing countries of the region is estimated to drive the market growth in the region over the forecast period. For instance, thalassemia syndrome is thought to affect 100,000 people in India, whereas sickle cell disease affects about 150,000 people.
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Moreover, the North America region is estimated to hold the largest market share over the forecast period owing to the high number of persons undergoing blood transfusion processes, high cost of healthcare, and high spending in physician and clinical laboratories in the region. As per a health expenditure report, in 2020, hospital spending increased by 6.4% to USD 1,270.1 billion, slightly faster than the 6.3% growth in 2019. In addition to this, the strong presence of key market players and significant investment in research and development activities in the region are expected to propel the market growth over the forecast period.
The study further incorporates Y-O-Y growth, demand & supply and forecast future opportunity in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa).
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The global blood collection monitor market is segmented by calibration type into manual weight calibration and automated weight calibration. Out of these, the automated weight calibration segment is predicted to hold a notable market share over the forecast period owing to the fact that automating weight calibration reduces errors mainly erroneous placement and weight mix-ups. Furthermore, the growing need for blood transfusions to treat pneumonia spurred on by coronavirus infection and the increasing prevalence of chronic diseases, namely disseminated intravascular coagulation (DIC) where blood and plasma transfusion plays a life saver role is predicted to boost segment growth over the ensuing years. It was observed that DIC develops in an estimated 1% of all hospitalized patients, with fatality rates reaching 60%, and potentially occur in 30–50% of critical care. Additionally, the technological advancement in automated weight calibration is expected to drive the segment growth during the forecast period.
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Further, the global blood collection monitor market is segmented by end user into hospitals, research clinics, laboratories, and others. Out of these, the hospitals segment is expected to gain the largest market share over the forecast period owing to the rise in infectious illness cases and trauma cases, both of which are expected to increase the need for blood collection equipment in hospital settings and this is estimated to increase the overall spending in the healthcare sector. As per the health expenditure report by WHO, global health spending has increased overall during the previous 20 years, doubling in real terms, reaching USD 8.5 trillion in 2019 and 9.8% of GDP (up from 8.5% in 2000). Moreover, the rising awareness among people regarding blood disorders and significant investment in the healthcare sector across the globe are predicted to boost segment growth over the forecast period.
Some of the prominent key players and their company profiling mentioned in the global blood collection monitor market research report include Fresenius Kabi AG, Becton, Dickinson and Company, Grifols S.A., Quest Diagnostics, Inc., Nipro Medical Corporation, SARSTEDT AG & Co., REMI GROUP, Bioelettronica S.r.I., Delcon SRL, Haemonetics Corporation, and other key market players. The profiling enfolds growth opportunities, challenges, and market trends prevalent for the growth of the market during the forecast period.
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