The global autotransfusion devices market in 2021 was valued at US$1. 04 billion. The market is anticipated to reach US$1. 44 billion by 2027. Autotransfusion devices are used in medical procedures where the patient’s receives his or her own blood back into the body after the due filtration process.
New York, Sept. 09, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Autotransfusion Devices Market: Analysis By Type, By Application, By End User, By Region Size and Trends with Impact of COVID-19 and Forecast up to 2027" - https://www.reportlinker.com/p06318348/?utm_source=GNW
To put it another way, the patient becomes his or her own blood donor. The device is simple to use and filters out the infection before transfusing it back into the patient’s body.
These devices are widely used in surgical procedures involving cardiac, organ transplantation, and other invasive procedures where there is an excessive blood loss. An increase in accidents, the less availability of rare blood group patients, and high bleeding surgeries are the significant factors boosting to the market growth. The autotransfusion device market is expected to thrive in the near-term years, at a CAGR of 5.53% during the forecast period of 2022-2027.
Market Segmentation Analysis:
By Type: The report provides the bifurcation of the autotransfusion devices market into two segments based on types: Product and Accessories. The products are further segmented into intraoperative, postoperative and dual mode. In 2021, the intraoperative segment lead the autotransfusion product market, accounted for more than 70% share. Intraoperative Product is more thriving in the autotransfusion devices market because they usually helped in open heart surgeries, where blood loss is very high and being an important organ, the blood transfusion needs to be quick to restore the patient’s blood loss.
By Application: On the basis of application, the report includes the segmentation into four categories namely Cardiac Surgeries, Orthopedic Surgeries, Trauma Procedures, and Others. Cardiac Surgeries held the major share of approximately 40% share in the autotransfusion devices market. The incidence of cardiac surgeries has increased in the past few years due to the increasing aging population and the rise in diabetic patients. Rise in smoking, high blood pressure, stress, etc. all lead to increase in the global cardiac surgeries autotransfusion devices market.
By End User: The global autotransfusion devices market can be divided into three segments based on end user: Hospital, Ambulatory Surgery Center and Speciality Clinics. The hospitals segment held around 65% of global autotransfusion devices market. In hospitals, many patients walk in for diagnostics and a large number of patients are admitted for surgical procedures. As a result, hospitals currently hold a sizeable share in the market of autotransfusion devices, and this trend is anticipated to persist over the forecast period.
By Region: In the report, the global autotransfusion devices market is divided into four regions: North America, Europe, Asia Pacific, and rest of the world. North America dominated the market in 2021 with more than 40% share of the global market. Factors such as the increasing prevalence of cancer in the US and Canada, rising number of patients suffering from cardiovascular, orthopedic diseases, an increase in the geriatric population, and surging cases of organs transplantation are the key factors driving the North America autotransfusion device market growth.
Asia Pacific is anticipated to grow at the highest CAGR of more than 6% during the forecast period. Various government initiatives have helped in building necessary healthcare infrastructure, empowering healthcare providers and patients to opt for surgeries, hence boosting the demand for autotransfusion devices in the region.
Global Autotransfusion Devices Market Dynamics:
Growth Drivers: One of the most important factors impacting autotransfusion device market growth is rise in organ transplantation. The survival and quality of life of patients with advanced organ disease gets improved by organ transplantation. However, transplant procedures increase the risk of infection and require a significant investment of resources from the healthcare system. But with the autotransfusion devices, the risk of infection during blood transfusion gets reduced and it filters the blood before transfusing back into the patient’s body. Therefore, with the rising number of organ transplants, the demand for autotransfusion devices would grow. Furthermore, the market has been growing over the past few years, due to factors such as growing urbanization, a rise in chronic diseases, increasing healthcare spending, high bleeding surgeries, increasing accident cases, etc.
Challenges: However, the market has been disturbed by some challenges like the removal of the beneficial component from blood during a blood transfusion. During the transfusion of blood, the blood gets through the filtration process before transfusing it into the patient’s body. But the filtration process removes the beneficial components of blood like platelets, proteins, albumin, etc. When blood loss is substantial, the removal of these components from blood might cause organ failure. High cost involved also serves as a potential challenge for the autotransfusion devices industry.
Trends: The market is projected to grow at a fast pace during the forecast period, due to various latest trends such as technological developments. Autotransfusion devices are typically used during long-term surgeries, such as kidney transplantation, and in emergency situations. These surgeries increase the risk of excessive blood loss, making it difficult to compensate with new blood, especially in the case of rare blood groups. Because of the high demand, the major players in the autotransfusion devices market provide advanced and fully automated autotransfusion devices that reduce the need for human intervention. As a result, such advancements are likely to usher new trends in the market for autotransfusion devices in the coming years. Another key trend of autotransfusion devices market is increasing market consolidation.
Impact Analysis of COVID-19 and Way Forward:
The COVID-19 was reported as an infectious disease with a high mortality rate, and which restricts blood donation activities and make it worse for rare blood group patients. Surgeries like renal surgery, cardiovascular surgery, cancer treatment surgery were cancelled or delayed in fear of COVID-19 infection. As a result, COVID-19 had a short-term detrimental impact on the autotransfusion devices market. After the vaccination schedule was established and the rate of transmission was reduced, healthcare systems were restored to normal. Health care sector are increasingly integrating artificial intelligence to solve the post COVID-19 challenges. Growing aesthetics awareness, increased surgical adoption, and increased affordability of advanced treatments are expected to drive the growth of the autotransfusion devices market in the post-COVID period.
The global autotransfusion device market is fragmented, with many players holding trivial market share. The key players of the globa autotransfusion device market are:
Fresenius SE & Co.KGaA
SARSTEDT AG and Co.KG
Becton, Dickinson & Company
Zimmer Biomet Holdings Inc.
ProCell Surgical Inc.
Getinge (Atrium Medical Corporation)
Some of the strategies among key players in the autotransfusion devices market are partnerships, mergers, acquisitions, and collaborations. For Instance, Zimmer Biomet acquired A&E Medical Corporation for US$150 million in cash at closing and US$100 million in cash payable in 2021. As per the terms of the acquisition, Zimmer Biomet acquired A&E Medical and its complete portfolio of sternal closure devices – including sternal sutures, cable systems, and rigid fixation. In October 2019, Medtronics Acquired AV Medical Technologies that operates as a medical device company. Similarly, Getinge acquired Applikon Biotechnology, which deals in developing and supplying advanced bioreactor systems from laboratory scale to production scale in December 2019.
Read the full report: https://www.reportlinker.com/p06318348/?utm_source=GNW
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.
CONTACT: Clare: firstname.lastname@example.org US: (339)-368-6001 Intl: +1 339-368-6001