The global blood filter market size was valued at USD 360 million in 2019 and is anticipated to surpass the market value of around USD 517.6 million by 2027. The market is projected to expand at a CAGR of 4.3% during the forecast period, 2021 – 2028. The growth of the market is attributed to increasing prevalence of chronic kidney disease and growing incidence of disorders that need blood transfusions such as sickle cell disease, anemia, bleeding disorders like hemophilia, or cancer.
Filtration methods used to remove microaggregates from donor blood are known as blood filters. These microaggregates are made up of platelets, leucocytes, and fibrin aggregates that cause pulmonary microembolism and other problems, if left in the donor blood. White blood cells (leukocytes) in donor blood inhibit the immune system of the receiver. In post-surgical patients, a reduced immune system effectively raises the risk of infection, multiple organ failure, and other problems, lowering the patient's survival rate. Furthermore, leucocytes contain several viruses including cytomegalovirus, Human T-cell Lymphotropic virus, Epstein-Barr virus, and bacteria such as Yersinia drastically reduce the chances of a patient's cure from some types of cancer.
Market Trends, Drivers, Restraints, and Opportunities:
Drivers
- Demand for blood transfusions is rapidly increasing, due to growing global disease burden and rising number of trauma cases. A blood transfusion is needed every three seconds. Rising number of incidents of trauma and road accidents around the world is propelling the blood filter market during the projected period.
- The global demand for surgical operations is increasing, as the aging population becomes sensitive to chronic diseases, which is projected to boost the market during the forecast period. In 2015, the geriatric population accounted for 8.5 percent of the global population, according to the International Population Report. Between 2025 and 2050, the geriatric population is expected to nearly double, reaching 1.6 billion.
- The number of people suffering from various chronic diseases is rapidly rising around the world. As a result, the number of surgical procedures is expected to increase, which is anticipated to drive the global blood filters market in the coming years.
Restraints
- High price and risk associated with the procedure of blood transfusion are projected to hinder the market growth during the forecast period.
Scope of the Report
The report on the global blood filter market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Attributes
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Details
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Report Title
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Blood Filter Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast
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Base Year
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2020
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Historic Data
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2018–2019
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Forecast Period
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2021–2028
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Segmentation
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by Types (Whole Blood Transfusion, Red Cell Transfusion, and Platelet Transfusion), by Applications (Blood Processing and Blood Transfusion)
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Regional Scope
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, Trends, and Revenue Forecast
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Key Players covered in the Report
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Asahi Kasei Medical Co., Ltd., Haemonetics Corporation, Fresenius Kabi Deutschland GmbH, Macopharma, Shandong Zhongbaokang Medical Implements Co., Ltd., Nanjing Shuangwei Biotechnology Co., Ltd., Braile Biomédica, Infomed SA, Kaneka Pharma Europe NV, Kawasumi Laboratories Inc., and GVS S.p.A.
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Global Blood Filter Market Segment Insights:
Based on types, the market is divided into whole blood transfusion, red cell transfusion, and platelet transfusion. The platelet transfusion segment is expected to account for a key share of the market during the forecast. Platelets are a type of blood component that prevents the body from bleeding. As a result of chemotherapy treatments, patients with leukemia or other types of cancer frequently have reduced platelet counts. Rising prevalence of other types of cancer is expected to boost the platelet segment in the coming years. Patients with diseases that prevent the body from producing enough platelets require platelet transfusions regularly to stay healthy.
In terms of applications, the global blood filter market is divided into blood processing and blood transfusion. During the projected period, the blood transfusion market is predicted to continue its dominance with the growing number of road accidents and rising prevalence of kidney disease across the globe. Blood transfusions are a regular medical intervention. In the US, 21 million blood components are transfused each year. Patients with serious injuries as a result of car accidents or natural calamities are given blood transfusions. Blood transfusions are frequently given to those who have anemia and have illnesses such as leukemia or kidney disease.
On the basis of regions, the market is classified as North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Rapid economic development in India, China, Brazil, South Africa, and other countries in Asia and Latin America increased healthcare spending, improved healthcare products such as blood filters, and made blood filters affordable. Increased hospitalization, due to rising incidence of heart illnesses and chronic diseases, is fueling the number of surgical procedures in the country. This is expected to drive the blood filters market during the forecast period.
Segments
By Types
- Whole Blood Transfusion
- Red Cell Transfusion
- Platelet Transfusion
By Applications
- Blood Processing
- Blood Transfusion
By Regions
- Asia Pacific
- North America
- Europe
- Latin America
- Middle East & Africa
By Key players
- Asahi Kasei Medical Co., Ltd.
- Haemonetics Corporation
- Fresenius Kabi Deutschland GmbH
- Macopharma
- Shandong Zhongbaokang Medical Implements Co., Ltd.
- Nanjing Shuangwei Biotechnology Co., Ltd.
- Braile Biomédica
- Infomed SA
- Kaneka Pharma Europe NV
- Kawasumi Laboratories Inc.
- GVS S.p.A.
Competitive Landscape
Key players operating in the global blood filter market are Asahi Kasei Medical Co., Ltd., Haemonetics Corporation, Fresenius Kabi Deutschland GmbH, Macopharma, Shandong Zhongbaokang Medical Implements Co., Ltd., Nanjing Shuangwei Biotechnology Co., Ltd., Braile Biomédica, Infomed SA, Kaneka Pharma Europe NV, Kawasumi Laboratories Inc., and GVS S.p.A.