Rising Prevalence of Chronic Illnesses Drives Demand for Blood Transfusion Kits Worldwide

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Sep 25, 2023, 12:00 ET

DUBLIN, Sept. 25, 2023 /PRNewswire/ -- The "Global Blood Transfusion Market Size, Share & Trends Analysis 2024-2030" report has been added to ResearchAndMarkets.com's offering.

In 2023, the global blood transfusion set market reported a total value of $480.1 million, experiencing a modest decline of 3.5% from the $464.1 million recorded in 2022.

Despite this dip, the market is poised for a positive growth trajectory in the upcoming period, with a projected compound annual growth rate (CAGR) of 3.0%, ultimately reaching a valuation of $591 million. Currently, market leaders in the global blood transfusion set market include Becton Dickinson (BD), Baxter, and ICU Medical.

Market Overview

Rebound Expected: The global blood transfusion set market is projected to rebound with a CAGR of 3.0%, reaching a valuation of $591 million, following a 3.5% decline in 2023.
Dominant Players: Key players such as Becton Dickinson (BD), Baxter, and ICU Medical currently dominate the global blood transfusion set market.
Comprehensive Research: Our comprehensive medical market research involved a thorough analysis of more than 15 blood transfusion companies across seven continents. We employed a rigorous methodology to delve into market sizes, unit sales, company market shares, and generated precise forecasts.

Market Insights

Rising Chronic Illnesses: The increasing prevalence of chronic illnesses like cancer, cardiovascular diseases, and blood disorders is contributing to a higher demand for regular blood transfusions. Blood transfusion kits play a vital role in providing essential care and support to individuals dealing with these health challenges, ultimately leading to improved healthcare outcomes.

Global Market Leaders

Becton Dickinson (BD): Becton Dickinson (BD) holds the top position among competitors in the blood transfusion device market. The company offers a comprehensive range of blood IV sets in pump-based and gravity-based configurations. These sets feature essential components, including a 180-m filter, a pressure pump, a needleless connector, and male Luer lock adapters, designed for use with BD's Alaris brand of infusion pumps.
Baxter: Baxter ranks second in the blood transfusion device market, offering a diverse array of blood collection and administration sets, along with standard blood in-line filters, Y-sites, male Luer lock injection adapters, and pressure pumps. Baxter's strong presence in both the IV set and infusion pump markets contributes to effective sales of blood sets.
ICU Medical: ICU Medical secures the third position among competitors in the blood transfusion device market, with notable strength in North America. The company offers transfusion sets compatible with gravity and infusion pumps. ICU Medical's product range includes three distinct blood collection and administration tubing options and associated accessories under the Saf-T WingT product line.

Leading Companies

Becton Dickinson
Baxter
ICU Medical
Fresenius Kabi
B. Braun
CODAN
Fannin

The global blood transfusion set market is on track for a rebound, with anticipated growth driven by the rising prevalence of chronic diseases. Key players such as Becton Dickinson (BD), Baxter, and ICU Medical are well-positioned to drive innovation and meet the growing demand for blood transfusion kits.

For more information about this report visit https://www.researchandmarkets.com/r/jd4d37

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