Dublin, Oct. 06, 2023 (GLOBE NEWSWIRE) -- The "Global Autotransfusion Devices Market (by Type, Application, End User & Region): Insights and Forecast with Potential Impact of COVID-19 (2022-2027)" report has been added to ResearchAndMarkets.com's offering.
The global autotransfusion devices market is poised for significant growth, projected to reach a value of US$1.15 billion by 2023, with a compelling Compound Annual Growth Rate (CAGR) of 5.78%. Autotransfusion devices play a vital role in medical procedures, allowing patients to become their own blood donors by reintroducing their filtered blood, minimizing infection risks.
Revolutionizing Medical Procedures
Autotransfusion devices are at the forefront of medical advancements, particularly in surgical procedures such as cardiac surgery, organ transplantation, and other invasive treatments with substantial blood loss. These devices offer a safe and efficient means of returning the patient's own blood to their system.
Segmentation of the Market
The global autotransfusion devices market is segmented into three key areas:
- Type: Categorized into Products and Accessories, with intraoperative products leading the market. Intraoperative products are particularly crucial in high-blood-loss procedures like open-heart surgeries.
- Application: Includes Cardiac Surgeries, Orthopedic Surgeries, Trauma Procedures, and Others. Cardiac surgeries dominate the market due to an increase in aging populations and a rising number of diabetic patients.
- End User: Comprising Hospitals, Ambulatory Surgery Centers, and Specialty Clinics, hospitals hold the largest market share due to high patient admissions for surgical procedures.
Geographic Coverage
The global autotransfusion devices market is segmented into North America, Europe, Asia Pacific, and the rest of the world. North America currently leads the market, driven by factors such as increasing cancer prevalence, cardiovascular and orthopedic diseases, and a growing geriatric population. Asia Pacific is expected to experience the highest CAGR, with government initiatives boosting healthcare infrastructure and surgical procedures.
Key Growth Factors
Drivers:
- Increasing Healthcare Spending
- High Bleeding Surgeries
- Rising Accident Cases
- Less Availability of Rare Blood Group
Challenges:
- High Cost Involved
- Removal of Beneficial Components from Blood
Trends:
- Increasing Market Consolidation
- Technological Developments
Impact of COVID-19
The COVID-19 pandemic initially disrupted healthcare systems, affecting surgeries and blood donations. However, the demand for autotransfusion devices surged as accident cases increased, emphasizing their critical role in emergency situations. Post-pandemic, healthcare systems are integrating artificial intelligence to overcome challenges and restore normalcy.
Key Market Players
The global autotransfusion devices market is characterized by numerous players, with key players including Becton, Dickinson & Company, Fresenius SE & Co.KGaA, Medtronic PLC, Zimmer Biomet Holdings Inc., Stryker Corporation, LivaNova PLC, Braile Biomedica, ProCell Surgical Inc., Haemonetic Corporation, SARSTEDT AG and Co.KG, Teleflex Incorporated, and Getinge (Atrium Medical Corporation).
For more information about this report visit https://www.researchandmarkets.com/r/qrv2pb
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