Global Autotransfusion Systems Market Set to Reach $505M by 2024 - Scarcity of Donated Blood/Allogenic Blood Drives Demand - ResearchAndMarkets.com

DUBLIN--()--The "Autotransfusion Systems Market by Type (Autotransfusion Products & Accessories) and Application (Cardiac Surgeries, Orthopedic Surgeries, Organ Transplantation, Trauma Procedures, and Other Procedures) - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.

The Autotransfusion Systems Market is projected to reach $505 million by 2024 from $395 million in 2019, at a CAGR of 5%.

The growth of this market is driven by the increasing number of surgical procedures, rising number of transplant procedures, advantages of autotransfusion, and scarcity of donated blood/allogenic blood.

The major players operating in the global autotransfusion systems market are Medtronic Plc (Ireland), Becton, Dickinson and Company (US), Zimmer Biomet Holdings, Inc (US), Teleflex Incorporated (US), LivaNova (UK), Fresenius (Germany), Atrium Medical Corporation (Sweden), Haemonetics Corporation (US), SARSTEDT (Germany), Braile Biomdica (Brazil), Redax (Italy), Beijing ZKSK Technology Co (China), and Gen World Medical Devices (India) are some of the leading players.

The autotransfusion products segment is expected to witness the highest growth in the autotransfusion systems market during the forecast period

On the basis of type, the autotransfusion systems market is segmented into autotransfusion products & autotransfusion accessories. The autotransfusion products segment is estimated to grow at the highest CAGR during the forecast period owing to a number of advantages, which is expected to boost its adoption in the coming years. These components prevent the transmission of transfusion-related blood-borne diseases in patients, and they also provide more compatible blood than in the case of autologous blood transfusions. These advantages are likely to increase the demand for autotransfusion products.

The cardiac surgeries segment, by application, is expected to witness the highest growth during the forecast period

On the basis of application, the autotransfusion systems market is segmented into Cardiac Surgeries, Orthopedic Surgeries, Organ Transplantation, Trauma Procedures, and Other Procedures. The Cardiac Surgeries segment is estimated to grow at the highest rate during the forecast period due to the high prevalence of cardiac diseases and recommendations for autologous transfusion (by entities such as the WHO) during cardiac surgeries.

Asia-Pacific is expected to grow at the highest CAGR in the market, by region, during the forecast period

Growth in this market segment is primarily due to the presence of a large target patient population in countries such as China and India, improving healthcare infrastructure, rising healthcare spending, increasing per capita income, and rising focus of key market players in strengthening their presence in several Asia-Pacific countries.

Market Dynamics

Trends

  • Development of Low-Cost Autotransfusion Devices

Drivers

  • Increasing Number of Surgical Procedures
  • Rising Number of Transplant Procedures
  • Advantages of Autotransfusion
  • Scarcity of Donated Blood/Allogenic Blood

Restraints

  • High Costs Associated With Autotransfusion Systems
  • Risks Associated With Autotransfusion
  • Government Initiatives to Streamline the Allogenic/Donated Blood Supply

Opportunities

  • Emerging Economies Offer High Growth Potential

Challenges

  • Scarcity of Resources Such as Well-Trained Perfusionists and Surgical Technicians in Developing Countries

Company Profiles

  • Atrium Medical Corporation (a part of Getinge Group)
  • Becton, Dickinson and Company
  • Beijing ZKSK Technology Co. Ltd.
  • Braile Biomdica
  • Fresenius Medical Care AG & Co. KGaA
  • Gen World Medical Devices
  • Haemonetics Corporation
  • Livanova PLC
  • Medtronic PLC
  • Redax
  • SARSTEDT AG & Co. KG
  • Teleflex Incorporated
  • Zimmer Biomet Holdings Inc.

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Contacts

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
press@researchandmarkets.com
For E.S.T. Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900