Pune, India, March 23, 2022 (GLOBE NEWSWIRE) -- The global market for autotransfusion devices is expected to emerge during the forecast period due to increasing number of surgical procedures and rising number of high-bleeding surgeries. Fortune Business Insights™ publishes this information in a report titled, "Autotransfusion Devices Market, 2022-2029". As per the report, the autotransfusion devices market size was USD 255.6 million in 2021. The market size is expected to rise from USD 267.3 million in 2022 to USD 379.7 million by 2029 at a CAGR of 5.1% during the forecast period.
Autotransfusion devices are majorly used to collect and reinfuse the blood in patients. Also, these devices play an important role in cell salvage techniques and enable autologous blood transfusion to reduce the infection risks of allogeneic blood transfusions. The increasing demand for surgeries is expected to drive the market during the projected period.
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Industry Developments:
- April 2021: LivaNova PLC received the U.S. FDA clearance for its B-Capta. This device helps quickly and accurately monitor venous and blood gas parameters during complex pediatric and adult cardiopulmonary bypass procedures.
- April 2019: BD launched its quality control media BD BACTEC worldwide to identify the contaminated platelet units during a transfusion process.
Decline in Cardiac & Orthopedic Surgeries Affected Market Growth Amid Pandemic
The outbreak of COVID-19 virus and stringent restrictions imposed by the government have affected surgical sector, due to which the autotransfusion devices market has faced a huge decline in product demand. These devices are used in cardiac and orthopedic surgeries, rarely performed during the pandemic. These factors have affected the market growth during the pandemic.
For instance, according to the American Medical Association, there was 48% decline registered in surgical procedures in the U.S. due to COVID-19 pandemic. Furthermore, once the government lifted some pandemic restrictions, these surgeries returned to the normal rate.
To get to know more about the short-term and long-term impact of COVID-19 on this market, please visit: https://www.fortunebusinessinsights.com/industry-reports/autotransfusion-devices-market-101899
Autotransfusion Systems Dominates Market Due to Rising Adoption in Developing Countries
By product type, the market is bifurcated into autotransfusion systems and consumables & accessories. Further, the autotransfusion systems segment is segregated into intraoperative, post-operative, and dual-mode autotransfusion systems.
Based on application, the market is segmented into cardiovascular surgeries, orthopedic surgeries, neurological surgeries, obstetrics & gynecological surgeries, and others.
On the basis of end-user, the market is divided into hospitals, specialty clinics, and others.
By region, the market is categorized into North America, Europe, Asia Pacific, and rest of the world.
Report Scope & Segmentation
| Report Coverage | Details |
| Forecast Period | 2022-2029 |
| Forecast Period 2021 to 2028 CAGR | 5.1% |
| 2029 Value Projection | USD 379.7 million |
| Base Year | 2021 |
| Market Size in 2022 | USD 267.3 million |
| Historical Data for | 2018-2020 |
| No. of Pages | 141 |
| Segments covered | By Type, By Procedure, By Geography |
| Growth Drivers | The increasing number of surgical procedures across the globe is anticipated to fuel the growth of the market during the forecast period. |
| This is projected to drive market growth rate in the coming years. | |
| The outbreak of the COVID-19 pandemic had a negative impact on the autotransfusion devices market growth. |
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Report Coverage:
The report provides insightful information and factual data regarding the current market situation and potential market growth in the coming years. Also, the drivers and restraints affecting the market growth are highlighted further in this report. The impact of COVID-19 on the global market is elaborated along with recent data. Furthermore, regional information regarding market share is provided along with recent key developments in the industry.
Increasing Number of High-Bleeding Surgeries to Stimulate Growth
The market is anticipated to witness significant growth during the forecast period, owing to the increasing number of cardiovascular and orthopedic surgeries. These devices are highly used in high-bleeding surgeries, and increasing implementation of these surgeries is expected to bolster market development in various segments. These factors are expected to ensure the autotransfusion devices market growth during the projected period.
However, increasing the use of hemostatic devices is likely to hinder the market growth.
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North America Holds Highest Market Share Due to Developed Healthcare Infrastructure
North America dominated the global autotransfusion devices market share by holding USD 126.2 million in 2021. The region dominated the market due to increasing use of autologous blood transfusion and growing number of surgeries. Also, developing healthcare infrastructure is expected to ensure market growth.
Europe holds the second-largest global market share due to increasing number of surgeries, including a strong emphasis on adopting intraoperative and postoperative cell salvage techniques.
Innovative Product Development Strategy Allow Key Players to Attract Customers
Key players in the market focus on adopting innovative strategies to develop and design new products to enhance their product portfolio. Also, forming strategic alliances, partnerships, and mergers with supporting companies allows key players to expand their business globally. These strategies enable companies to gain a competitive advantage in the emerging market.
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List of Key Players Profiled:
- Haemonetics Corporation (U.S.)
- LivaNova PLC (U.K.)
- Medtronic (Ireland)
- Fresenius SE & Co. KGaA (Germany)
- BD (Becton, Dickinson, and Company) (U.S.)
- Beijing Jingjing Medical Equipment Co., Ltd. (China)
- ProCell Surgical Inc. (U.S.)
Table of Contents
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Recent Industry Developments- Partnerships, Acquisitions, and New Product Launches
- Number of Cardiovascular Surgeries- Key Countries
- Number of Major Orthopedic Surgeries- Key Countries
- Number of Major Obstetrics & Gynecological Surgeries- Key Countries
- Impact of COVID-19 on Autotransfusion Devices Market
- Global Autotransfusion Devices Market Analysis, Insights and Forecast, 2018-2029
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Product Type
- Autotransfusion Systems
- Intraoperative Autotransfusion Systems
- Postoperative Autotransfusion Systems
- Dual-mode Autotransfusion Systems
- Consumables & Accessories
- Autotransfusion Systems
- Market Analysis, Insights and Forecast – By Application
- Cardiovascular Surgeries
- Orthopedic Surgeries
- Neurological Surgeries
- Obstetrics & Gynecological Surgeries
- Others
- Market Analysis, Insights and Forecast – By End User
- Hospital
- Specialty Clinics & Others
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia Pacific
- Rest of the World
Toc Continue..
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