Global Blood Bags Market to amass $180 Mn by 2024

October 03, 2019

According to the latest study titled ‘Global Blood Bags Market Growth 2019-2024’ available with Market Study Report LLC, the global blood bags market is estimated to accumulate US $180 million by the year 2024.

Blood bags are disposable bags utilized for the storage, processing, collection, separation, transfusion and transportation of blood. They are widely used across hospitals and blood banks. Increasing cases of traumas and accidents, rising need for blood across various diseases, and growing awareness regarding blood donation around the globe will bolster the growth of blood bags market.

According to the study, the worldwide blood bags market was valued at US $120 million in 2019 and is anticipated to register 7.3% CAGR over the projected time period. The study analyzes blood bags market for industry shares and growth opportunities by different segments. Furthermore, it provides an exhaustive understanding about trends, challenges, marketing strategies, distribution channels, consumer spectrum, and drivers influencing the market growth.

Based on type, the industry is segmented as single, double, triple, quadruple and other. The volume of these bags varies from 150ml to 400ml. The report cites that the blood bags market from single segment held 63% share in 2015.

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Speaking of application spectrum, the blood bags market is fragmented into hospitals, blood banks, and other. While considering the geographical landscape, the market is fragmented into four major regions as Europe, Americas, Middle East & Africa, and Asia Pacific. North America was the leading supplier of blood bags market with a production share of nearly 33% in 2015. Moreover, Europe blood bags market held 26% share in the same year.

Some of the vendors that operate in the global blood bags market outlined in the report comprise of Wego, Terumo, Grifols, Fresenius, Macopharma, Neomedic, JMS, Advacare, and STT.