DUBLIN--(BUSINESS WIRE)--The "Autotransfusion Devices and Consumables Market by Product Type and End Use: Global Opportunity Analysis and Industry Forecast, 2019-2026" report has been added to ResearchAndMarkets.com's offering.
According to this report, 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 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.
This report provides a comprehensive analysis of the key payers operating in the global autotransfusion devices and consumables market. These include Becton, Dickinson and Company (C.R. Bard), Brightwake Ltd, Fresenius (Fresenius Kabi), Getinge AB, Haemonetics Corporation, LivaNova PLC, Medtronic Plc., and Stryker.
Key Findings of the Autotransfusion Devices & 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.
For more information about this report visit https://www.researchandmarkets.com/r/uhzul9