New York , Feb. 06, 2024 (GLOBE NEWSWIRE) -- The global autotransfusion devices market size is predicted to expand at 6% CAGR between 2023 and 2033. The market is projected to garner a revenue of USD 400 million by the end of 2033, up from a revenue of USD 250 million in the year 2022. This growth is set to be dominated by the rising prevalence of kidney disease. Over 800 million people worldwide are affected by chronic kidney disease, a degenerative illness that affects more than 10% of the global population. Hence, the market demand for autotransfusion devices is surging.
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Furthermore, compared to those 45–64 years old (12%) and those 18–44 years old (6%), persons 65 years of age or older (34%) are more likely to have CKD. Therefore, the need for autotransfusion devices is surging. An increasing number of chronic kidney disorders are resulting in the need for organ transplants. In the contemporary medical field, organ transplantation is regarded as one of the most sophisticated operations. These kinds of operations typically require hours and result in significant blood loss. Therefore, using autotransfusion devices, autotransfusion is one effective way to stop blood loss.
Autotransfusion Devices Market: Key Takeaways
- Market in North America region to propel the highest growth
- Cardiovascular segment to garner the highest growth
- Market in Asia Pacific region to grow at a notable rate
Surge in Number of Population to Boost the Growth of the Global Autotransfusion Devices Market
In the last twelve months, two major population milestones were reached worldwide. First, the official count of people on Earth reached over 7 billion in November 2022. Second, India overtook China in April of this year to take the top spot as the world's most populous nation. However, with this, the cases of various chronic diseases are also growing. Owing to this factor the market revenue for autotransfusion devices is projected to rise.
Autotransfusion Devices Industry: Regional Overview
The global autotransfusion devices market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa region.
Growing Blood Donation to Drive the Market Expansion in Asia Pacific
The autotransfusion devices industry in Asia Pacific is projected to grow at the fastest rate by the end of 2033. This growth is set to be encouraged by rising blood donations in this region. According to the World Health Organization, approximately 19.4 million units of blood are collected in the South-East Asia (SEA) Region; this represents 0.94% of the region's total population who donate blood.
Rising Urban Population to Influence the Market Growth in North America
The North America market for autotransfusion devices is also set to rise over the forecast period. This could be on account of the rising urban population. Globally, the percentage of people living in cities was over 56% in 2022. With more than four-fifths of the population living in urban areas, North America has the highest rate of urbanization of any region. Further, owing to this the adoption of a sedentary lifestyle is growing in this region which is further boosting the prevalence of chronic disease. Hence, the market is observing growth in this region.
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Autotransfusion Devices Segmentation by Application
- Orthopedic
- Cardiovascular
- Neurological
- Gynecological
- Obstetrics
- Other Surgeries
The cardiovascular segment is poised to gather the largest revenue in the market over the forecast period. This could be owing to rising cardiovascular disease cases. According to the World Health Organization, an estimated 17.9 million people worldwide lose their lives to cardiovascular diseases (CVDs), making them the top cause of death worldwide.
Autotransfusion Devices Segmentation by End User
- Hospitals
- Specialty Clinics
- Others
The hospitals segment is poised to have notable growth in the market over the coming years. This growth of the segment is set to be dominated by rising healthcare expenditure. Pharmaceutical funding is expected to reach USD 1.5 trillion and the total amount spent on healthcare worldwide will reach USD 10.2 trillion by 2023.
Autotransfusion Devices Segmentation by Product Type
- Autotransfusion Systems
- Accessories
A few of the well-known market leaders in the global autotransfusion devices market that are profiled by Research Nester are ProCell Surgical Inc., BD (Becton, Dickinson and Company), Fresenius SE & Co. KGaA, Medtronic, Beijing Jingjing Medical Equipment Co., Ltd., Haematonics Corporation, LivaNova PLC, Zimmer Biomet, SARSTEDT AG & Co. KG, Gen World Medical Devices, and others.
Recent Development in the Market
- ProCell, the company's first patient blood management device, has been announced. The procedure of drawing blood for intraoperative transfusion during surgery is known as Procell's Sponge Blood Recovery.
- Haemnotics Corporation has partnered with Epic, a top provider of electronic health record systems, to provide patients more advanced medical treatments and improved outcomes.
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