It has gained the interest of the healthcare industry due to cost effectiveness, less risk of infection due to blood transfusion to the patients during surgery.
PORTLAND, OR, UNITED STATES, October 23, 2021 /EINPresswire.com/ — UPDATE AVAILABLE ON-DEMAND (Autotransfusion Devices and Consumables Market to Set New Growth Cycle)
Autotransfusion is a method in which the blood is drained out from a patient’s body and is infused back after filtration and purification. It is performed in different ways—cell salvage, preoperative autologous donation, and acute normovolemic hemodilution or ANH. In cell salvage method, the blood is pumped out from the patient’s body and is infused back during the surgery. Cell salvage method can be further bifurcated into intraoperative and postoperative cell savage method. Preoperative autologous donation or PAD involves the donation of blood by a patient, which can be used by themselves in future. PAD involves is mostly used in hip replacement, hysterectomy, and total knee replacement surgeries. Acute normovolemic hemodilation is blood conservation techniques in which the blood from the patient is removed after inducing anesthesia while maintaining the normal volume of blood in the body using crystalloid or colloidal replacement.
The global autotransfusion devices and consumables market size was valued to be at $ 864 million in 2018 and is expected to increase during the forecast period to be at $ 1,380 million by 2026, registering a CAGR of 6.1% from 2019 to 2026. The devices segment accounted for more than two-thirds of the total market share in 2018. The report offers a detailed analysis of the key segments, top investment pockets, changing dynamics, market size & estimations, and competitive scenario.
1) The Covid-19 pandemic and followed by lockdown has affected several manufacturing industries.
2) The prolonged lockdown resulted in a disrupted supply chain and increased the prices of raw materials.
3) However, as the world has been recovering from the pandemic, the market is estimated to get back on track.
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The global autotransfusion devices and consumables market share has witnessed significant growth in the past few years. The growth in awareness regarding the lesser risk of transfusion transmitted infection. The rise in preference of autotransfusion techniques over allogeneic methods for blood transfusion amongst the healthcare professionals and patient population due to its higher efficiency and less risk of contamination contribute toward the market growth. In addition, government of developing countries such as India and China are promoting the use of autotransfusion techniques considering its lower morbidity and mortality rate due to infection, which is further expected to boost the autotransfusion devices and consumables market growth during the forecast period. However, higher cost and less affordability of autotransfusion devices as compared to allogeneic technique and stringent government regulations are projected to hamper the market growth during the forecast period. Conversely, untapped markets in the developing countries are expected to offer remunerative opportunities for the market players in the future.
Autotransfusion devices and consumables is a device used during various surgeries such as liver transplantation, hematopoietic stem cell transplantation, trauma due to injury, cardiovascular and orthopedic surgeries. Based on product type, autotransfusion devices include devices and consumables. The autotransfusion devices and consumables market growth has increased owing to increased prominence in the recent years due to high prevalence of cardiovascular surgeries worldwide and rise in number of cardiovascular diseases and transplantation cases.
Based on end use, the hospitals segment is the highest revenue contributor. Whereas, others segment is expected to exhibit fastest growth rate. This is attributed to the wider use of autotransfusion devices and consumables owing to its cost effectiveness.
Based on region, North America was the highest revenue contributor in the global autotransfusion devices and consumables market share, accounting for 60% of the total market in 2018. However, Asia-Pacific is expected to grow at the highest rate, owing to the number of developing nations present in this region, rise in technological advancements in the autotransfusion devices procured, increased awareness, and higher disposable income.
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The Major Key Players Are:
• Becton, Dickinson and Company (C.R. Bard)
• Brightwake Ltd
• Fresenius (Fresenius Kabi)
• Getinge AB
• Haemonetics Corporation
• LivaNova PLC
• Medtronic Plc.
Key Findings of the Autotransfusion Devices and Consumables Market:
• North America occupied more than one-third share of the global autotransfusion devices and consumables market in 2018.
• The devices segment is the highest contributor in the product type segment.
• The others in the end user segment is anticipated to grow with the highest CAGR throughout the forecast period.
• The hospitals in the end use segment accounted for three-fourths share of the market in 2018.
• The consumables segment is anticipated to grow with the highest rate in the product type segment throughout the forecast period.
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Source: EIN Presswire