New York, USA, June 15, 2022 (GLOBE NEWSWIRE) -- According to the report published by Research Dive, the global autotransfusion device market is estimated to generate a revenue of $1,939.7 million by 2027 and grow at a stable CAGR of 6.5% during the forecast period from 2019-2027. The extensive report provides a concise layout of the autotransfusion device market’s current framework including prime aspects of the market such as growth elements, challenges, restraints and various opportunities during the predicted timeframe of 2019-2027. The report also provides all the market figures to help new participants analyze the market easily.
Dynamics of the Market
Drivers: The increased production of cardiac devices and the growing prevalence of orthopedics and cardiac surgeries are some of the factors expected to drive the growth of the global autotransfusion device market during the forecast years. In addition, the absence of risk of alloimmunization to blood cells and continuous technological innovations are predicted to further boost the market growth by 2027.
Opportunities: The rising adoption of full body transfusion devices in hospitals and medical centers is expected to create ample growth opportunities for the autotransfusion device market during the forecast timeframe.
Restraints: The inability to separate contaminations from blood cells is estimated to hinder the growth of the market during the analysis period.
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Segments of the Autotransfusion Device Market
The report has fragmented the market into a few segments based on product type, end-users, and regional analysis.
Product Type: Off-pump Transfusion Devices Sub-segment to be Highly Dominant
By product type, the off-pump transfusion devices sub-segment is anticipated to have the largest market share and grow at a CAGR of 6.6% by 2027. The ease of using off-pump transfusion devices and the benefit of no blood loss during the process are the factors estimated to drive the growth of autotransfusion device market’s sub-segment during the forecast period.
End-users: Hospitals Sub-segment to be Most Beneficial
By end-users, the hospitals sub-segment is projected to have the highest contribution in the growth of autotransfusion device market by 2027. The availability of various specialized departments for blood transfusions in the hospitals leads to an increased production of transfusion devices. This factor is estimated to drive the growth of the market’s sub-segment during the forecast timeframe.
Region: North America Region Predicted to Witness Better Growth Opportunities
By regional analysis, the North America region is predicted to garner a revenue of $884.4 million by 2027. The increased availability of autotransfusion devices in hospitals is the main factor to drive the market’s growth in the region during the forecast period.
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Prominent Market Players
Some prominent market players include
- Getinge AB
- Stryker Corporation
- Zimmer Biomet Holding
- Terumo Corporation
- Medtronic Plc
- Becton Dickinson and Company
- Fresenius Medical Care AG & Co.
- Teleflex Incorporated
- Haemonetics Corporation
- LivaNova Plc
- KGaA
These key players are undertaking various strategies such as product development and enhancement, merger and acquisition, partnerships and collaborations to sustain the growth of the autotransfusion device market.
For example, in June 2020, ProCell Surgical, a renowned manufacturer of medical devices, launched its proprietary medical device called ProCell that can automate the manual activities of sponge-blood recovery for intraoperative autotransfusion (IAT).
The report also summarizes many important facets including financial performance of the key market players, SWOT analysis, product portfolio, and the latest strategic developments.
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More about Autotransfusion Devices Market:
- Autotransfusion Vs. Donated Blood Transfusion: A Comparative Viewpoint
- Autotransfusion Devices Industry to Witness Substantial Growth in The Coming Years
