Wilmington, Delaware, United States, Feb. 02, 2024 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The autotransfusion devices market was valued at US$ 382.3 million in 2022. The market is projected to grow at a CAGR of 4.7% from 2023 to 2031, reaching US$ 573.0 million by 2031. Integrating autotransfusion devices into complete blood management methods may receive more attention as the value of blood conservation becomes more widely recognized. In addition to minimizing the need for allogeneic blood, this involves maximizing the patient's blood resources.
Anticipate continued progress in the field of autotransfusion devices. Upcoming gadgets might have more user-friendly interfaces, increased automation, and improved safety features. Real-time monitoring through integrating digital technology and communication may become more common. Developing autotransfusion equipment that is more portable and smaller might be on the rise. As a result, it will be possible to use it in various healthcare contexts, including outpatient and ambulatory care, where mobility and space are important.
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The advent of modern filtration technology and sterile techniques has resulted in autotransfusion becoming more widely used. Individuals under 44 years of age continue to die from trauma. Road traffic crashes caused 1.2 million deaths worldwide in 2018. Rapid population growth and industrialization are expected to increase traffic accident deaths by 67% globally. The process is generally accepted as relatively safe.
Automating and artificial intelligence (AI) may be used to optimize autotransfusion procedures. Using AI-driven algorithms, blood parameters could be monitored in real-time to ensure accuracy and improve efficiency. International initiatives may be taken to expand access to autotransfusion equipment. For autotransfusion technology to be accessible to more healthcare systems, affordable solutions that accommodate different resource capacities may need to be created.
Key Findings of the Market Report
- The advancement of technology has enabled autotransfusion devices to become more efficient and user-friendly.
- The majority of the market was dominated by ambulatory surgical centers by 2022.
- The largest share of autotransfusion devices was held by North America in 2022.
- Based on product type, an on-pump transfusion device is expected to lead the market.
Global Autotransfusion Devices Market: Growth Drivers
- Rising need for blood transfusions due to a variety of medical operations, including cardiovascular interventions, trauma situations, and surgeries. The need for blood transfusions is predicted to increase as the world's population ages and the frequency of chronic diseases rises. Autotransfusion systems reduce the need for outside blood sources, lower the risk of transfusion reactions, and allow patients to use their blood.
- The focus is on patient safety and the increasing knowledge of the possible dangers of allogeneic blood transfusions. Autotransfusion devices reduce the need for donor blood, immune problems, adverse reactions, and infection risk by collecting and reinfusing a patient's blood.
- Autotransfusion systems have risen as healthcare professionals seek to improve patient outcomes, reduce hospital-acquired infections, and streamline recovery processes.
- Technology developments and ongoing innovation in the design of autotransfusion devices are crucial to the market's expansion. Due to the development of more effective and user-friendly autotransfusion devices with features such as closed-system processing and enhanced safety precautions, the technology is becoming increasingly popular.
- To increase the adoption of their products on the market, manufacturers are spending money on research and development to produce gadgets that are simple to use, reduce the possibility of human error, and abide by strict regulations.
Global Autotransfusion Devices Market: Regional Landscape
- Blood transfusions are frequently needed for many surgical procedures performed in North America, including orthopedic, cardiac, and trauma cases.
- Autotransfusion devices, which enable the collection and reinfusion of a patient's blood, are essential to these treatments. This may lessen the region's dependency on outside blood supplies, increasing the need for autotransfusion equipment.
- Healthcare professionals are always concerned about patient safety, and autotransfusion devices provide a safer option than allogeneic blood transfusions.
- Healthcare professionals in North America have used autotransfusion technology to reduce the risks of transfusion reactions, infections, and other issues related to donor blood. The emphasis on patient safety has driven the market for autotransfusion devices.
- Regulatory agencies in North America, such as the U.S. Food and Drug Administration (FDA) and Health Canada, influence the market for autotransfusion devices. When manufacturers comply with regulatory standards, medical professionals rely on autotransfusion devices for safety and efficacy.
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Global Autotransfusion Devices Market: Key Players
Several players dominate the global market for autotransfusion devices. Expansion of product portfolios and mergers and acquisitions are key strategies prominent players adopt.
- Fresenius Kabi AG
- Haemonetics Corporation
- LivaNova PLC
- Medtronic
- Terumo Corporation
- Stryker
- Atrium Medical Technologies
- Advancis Surgical
Key Developments
- In March 2023, Haemonetics announced that the FDA had cleared its Cell Saver Elite+ autotransfusion system under 510(k). Haemonetics began releasing Intelligent Control, its latest software update, to the market. In addition to improving user experience, the software was designed to simplify operations and support efficiency.
Global Autotransfusion Devices Market: Segmentation
By Product Type
- On-pump Transfusion Device
- Off-pump Transfusion Device
By End User
- Hospitals
- Ambulatory Surgical Centers
- Cardiac Research Centers
By Region
- North America
- South America
- Asia Pacific
- Europe
- Middle East & Africa
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