New York, USA, June 02, 2021 (GLOBE NEWSWIRE) -- According to the latest report studied by Research Dive, the global autotransfusion devices market is projected to generate a revenue of $1,939.7 million by 2027, rising from a market share of $1,121.5 million in 2018, at a healthy growth rate of 6.5% during 2019-2027 timeframe. The market report compiles the present boom of the market and the upcoming scenario. Market studies are put forth by researchers by scrutinizing facts and figures via primary and secondary research methods. Also, reference material from authentic sites, newspapers, journals, books, and periodicals are referred to while drafting the market report. Moreover, the report cites the Covid-19 outbreak's impact on the market.
Factors Affecting the Market Growth
The global autotransfusion devices market is projected to enhance during the forecasted timeframe due to the presence of several cardiac devices in the market. Also, the absence of risks related to transmitting devices or transfusion is anticipated to fuel the market growth in the coming years. Further, the lack of danger regarding alloimmunization to the blood cells is estimated to drive the global market during the forecasted years. However, the inability of autotransfusion devices to bifurcate contaminants from blood cells is predicted to restrain the market growth. Nevertheless, a rise in the acceptance of full-body transfusion devices is predicted to open up opportunities in the market.
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The report classifies the market into segments based on product type, end-users, and regional analysis.
Off-Pump Transfusion Devices Sub-Segment to be the Highest Growing
The product type segment is divided into off-pump and on-pump transfusion devices. From the two, the off-pump transfusion devices sub-segment is predicted to rise at a considerable CAGR of 6.6% during the forecasted period. Zero blood loss, easy-to-use, and safe than the conventional transfusion techniques are some of the advantages of off-pump transfusion devices that are anticipated to boost the sub-segment market growth in the coming years.
Hospital Sub-Segment to be the Most Profitable
The end-user segment is categorized into hospitals, ambulatory surgical centers, nursing homes, emergency rooms, and few others. Amongst these, the hospital sub-segment is projected to be the highest contributor in the market. Hospitals are encompassed with varied specialized departments where blood transfusion is needed. The autotransfusion devices are required to carry out various transfusions and as per the guidelines devised by the American Association of Blood Banks, blood should be re-infused within four hours. These are factors are predicted to bolster the growth of the sub-segment market during the forecasted period.
Autotransfusion Devices Market will Concentrate in End user Sector: New Study
Regional Outlook
The major regions of the market are LAMEA, Asia-Pacific, North America, and Europe. From these, the North American autotransfusion devices market is anticipated to generate a revenue of $884.4 million by 2026, at a notable CAGR of 6.4% during the forecasted period. The autotransfusion devices are capable of offering safety against allogenic blood transfusion, save blood resources, avert blood shortage, and much more. These aspects are projected to propel the growth of the global autotransfusion devices market during the forecasted timeframe. The effectiveness and guaranteed safety of autotransfusion devices is projected to bolster the growth of the market in the region.
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Key Market Players and Developments
The well-established players of the global autotransfusion devices market are -
- Terumo Corporation
- Becton Dickinson and Company
- Medtronic Plc
- Zimmer Biomet Holding
- LivaNova, Plc
- Teleflex Incorporated
- Fresenius Medical Care AG & Co.
- Stryker Corporation
- KGaA, Haemonetics Corporation
- Getinge AB
These market players are working on various strategies such as financing research and development activities, merging with prominent companies, profitable tie-ups, launching novel products, and collaborations to gain an upper edge in the market. For example, in April 2019, Ecomed Solutions, a manufacturing company, unveiled HEMAsavR, a device to manage blood in patients. The product collects blood and returns it to the patient’s body during surgeries. This type of transfusion of blood reduces the risk of allogenic blood transfusion.
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