New York, April 07, 2022 (GLOBE NEWSWIRE) -- The Insight Partners published latest research study on “Autotransfusion Devices Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type (Product and Accessories); Application (Cardiac Surgeries, Orthopedic Surgeries, Organ Transplantation, Trauma Procedures, and Others); End User (Hospitals, Specialty Clinics, and Ambulatory Surgery Centers)”, the global autotransfusion devices market growth is driven by the rapid increase in chronic diseases, rise in transplants, and difficulty in obtaining blood groups across the globe. By Type, the accessories segment dominated the global market and held the largest revenue share of 55.66% in 2021. By Product, the intraoperative autotransfusion systems segment dominated the global market and held the largest revenue share of 71.70% in 2021.
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| Report Coverage | Details |
| Market Size Value in | US$ 1 Billion in 2021 |
| Market Size Value by | US$ 1.33 Billion by 2028 |
| Growth rate | CAGR of 4.2% from 2021 to 2028 |
| Forecast Period | 2021-2028 |
| Base Year | 2021 |
| No. of Pages | 178 |
| No. Tables | 112 |
| No. of Charts & Figures | 77 |
| Historical data available | Yes |
| Segments covered | Type, Application, End User |
| Regional scope | North America; Europe; Asia Pacific; Latin America; MEA |
| Country scope | US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
Global Autotransfusion Devices Market: Competition Landscape and Key Developments
BD, Braile Biomedica, Fresenius SE & Co. KGaA, Haemonetics Corporation, LivaNova PLC, Medtronic, Redax S.p.A., SARSTEDT AG and Co. KG, Teleflex Incorporated and Zimmer Biomet are among the key companies operating in the autotransfusion devices market. The market leaders focus on new product launches, expansion and diversification, and acquisition strategies, which allow them to tap into prevailing business opportunities. For instance, in April 2021, LivaNova PLC's B-Capta has been approved by the US Food and Drug Administration. During complex paediatric and adult cardiopulmonary bypass surgeries, this device aids in the rapid and accurate monitoring of venous and blood gas parameters.
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The aging population and lifestyle changes are leading to a steady increase in the prevalence of chronic medical conditions. The rapidly growing middle-class population and urbanization are driving the adoption of sedentary lifestyle. The World Health Organization (WHO) estimated a rise in the prevalence of chronic diseases by 57% in 2020. Modernization of facilities reduces physical activities among people and increases stress from personal, professional, and societal factors. Arthritis, cardiovascular diseases, breast and colon cancer, diabetes, epilepsy and seizures, obesity, and oral health problems are the leading chronic diseases reported among elderlies in developed countries. Chronic diseases affect public health, societies, and economies.
According to the data published by the National Institute of Cancer Prevention and Research (NICPR) and the Indian Council of Medical Research (ICMR), the yearly prevalence of cancer in India is estimated at ~2.25 million, leading to numerous surgical procedures. Autotransfusion devices are widely used in various surgical procedures, such as cardiac surgery and other invasive procedures. Chronic diseases such as cancer, cardiovascular diseases, and renal disorders are major causes of human death worldwide. These conditions are generally treated via surgical procedures, which are associated with a chance of excessive blood loss. Fresh blood or their own blood is infused into patients to maintain the blood level. Autotransfusion devices are used during the blood infusion or reinfusion processes. Therefore, the global autotransfusion devices market is growing with the rapid increase in chronic diseases.
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The recent outbreak of recent COVID-19 variants in the region further restricts the surgical procedures performed, increasing the burden of infected countries. However, the healthcare facilities are handling the situation and providing more innovative solutions for delivering healthcare. Moreover, the healthcare system has again took running pace nowadays. The postponed surgical procedures that are now taking place, posing high demand of autotransfusion devices and has opened the opportunity to gain the market share with innovative products. For Instance, according to American Association of Orthopaedic Surgeons and Agency for Healthcare Research and Quality (AHRQ), an estimated 700,000 knee replacement and around 450,000 hip replacement procedures are performed in U.S. each year. Besides, according to an article published by University of Alabama in 2021, it was reported that 320,000 coronary artery bypass grafting procedures were performed in U.S. in 2020. Thus, the overall COVID-19 impact on autotransfusion devices market is negative but the autotransfusion devices market is again gaining traction and expected to grow in coming years.
Furthermore, according to the National Library of Medicine, the decline in the wave was improved to 51% for ophthalmic procedures, 68% for pain procedures, and 49% for orthopedic procedures. The number of electoral processes conducted increased in the EU region but was still below pre-pandemic standards. Thus, the overall COVID-19 impact on European autotransfusion devices market is negative, but the market is again gaining traction and expected to grow in coming years.
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The rising partnerships and collaborations of blood centers and huge companies have also resulted in the propulsion of the autotransfusion device market. For instance, Medtronic acquired AV Medical Technologies, in October 2019. In December 2019, Getinge purchased Applikon Biotechnology, a global leader in the development and supply of innovative bioreactor systems from the laboratory to the industrial scale. Thus, such advancements are likely to bring new trends in the autotransfusion devices market in the coming years.
Browse Adjoining Reports:
Cardiopulmonary Autotransfusion System Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Product (On-Pump Transfusion Device , Off-Pump Transfusion Device); End User (Hospitals, Ambulatory Surgical Centers, Cardiac Research Centers) and Geography
Organ Transplantation Market Forecast to 2028 - Covid-19 Impact and Global Analysis - by Type Of Organ (Heart, Kidney, Others); Products (Organ Preservation Solutions, Transplant Diagnostics, Tissue Products); Type Of Transplant (Autograft, Allograft, Others); Treatment (Analgesic, Immunosuppressant, Other); End Users (Hospitals, Transplant Centers, Other)
Transplantation Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Product (Tissue products, Immunosuppressive drugs, Others); Application (Organ transplantation, Tissue transplantation); End User (Hospitals, Transplant Centers, Others) and Geography
Transplant Diagnostics Market to 2027- Global Analysis and Forecasts By Product & Services (Instruments, Reagents & Consumables, and Software & Services), Type (Solid Organ Transplantation, Soft Tissue Transplantation, and Stem Cell Transplantation), Technology (Molecular Assays and Non-Molecular Assays), Application (Diagnostic Applications and Research Applications), and End User (Hospitals & Transplant Centers, Research Laboratories & Academic Institutes, and Independent Reference Laboratories)
Cardiac Surgery Instruments Market Forecast to 2028 - Covid-19 Impact and Global Analysis - by Product (Needle Holders, Forceps, Clamps, Scissors and Others), Type (Bypass Surgery, Heart Valve Surgery, Pediatric Surgery and Others), End User (Hospitals, Ambulatory Surgical Centers, Diagnostic Centers and Cardiac Centers) and Geography
Intravenous Catheter Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Product (Peripheral Vein Catheter (PVC), Central Venous Catheter (CVC), Peripherally Inserted Central Catheter (PICC)); Application (Blood Transfusion, Drug Delivery, Saline Delivery, Others); End User (Hospitals, Clinics, Ambulatory Care Centers, Others) and Geography
Aflatoxicosis Treatment Market Forecast to 2028 - Covid-19 Impact and Global Analysis - by Type (Oxygen Therapy, Antihistamines, Antibiotics, Immunosuppressants, Blood Transfusion, Others); Application (Hospitals, Clinics, Others)
Disinfection Cap Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type (Double Caps System, Single Cap System); Application (Blood Collection, Blood Transfusion, Infusion); Distributors (Retail, Non-retail); End-user (Hospitals, Clinics, Others) and Geography
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