Huge Growth Predicted in Disposable Plastic Blood Bag Market in Future

The global disposable plastic blood bag market is expected to generate $484.5 million revenue by 2020, advancing at a CAGR of 9.2% during the forecast period.

The global disposable plastic blood bag market is predicted to demonstrate rapid expansion in the future years. The rising incidence of chronic diseases and the surging geriatric population all over the world are the main factors fueling the progress of the market. In addition to these, the increasing implementation of several government initiatives aimed at increasing public awareness about the advantages of disposable blood bags and blood donation is propelling the growth of the market across the globe.  

Browse detailed report on Disposable Plastic Blood Bag Market Present Scenario And Growth Prospects

The enactment of various programs by government associations throughout the world for raising public awareness of the advantages of blood donations is an important factor propelling the growth of the market. The American Red Cross, International Federation of Red Cross and Red Crescent Societies (IFRC), and the World Health Organization (WHO) are some of the major government agencies launching extensive public awareness drives about blood donations and plastic blood bags. 

Furthermore, disposable plastic blood bags are rapidly replacing the conventionally used glass bottles for collecting and transporting blood. This is because of the high autoclaving and cleaning requirements associated with the regular usage of glass bottles. Additionally, the utilization of plastic blood bags reduces the chances of spillage/breakage at any stage during the blood transportation and collection process. These bags are also increasingly being used for separating the various components of blood such as platelets and RBCs.

Globally, the market is predicted to boom in North America in the upcoming years. The main factors propelling the advancement of the market in this region are the rising incidence of blood-related disorders and the surging investments being made in research and development (R&D) projects by various companies operating in the region. According to experts, the industry is predicted to grow at a CAGR of more than 9.0% in the region between 2020 and 2030. 

Hence, it can be concluded that due to the various safety characteristics of disposable plastic blood bags, the increasing incidence of blood-related disorders, and the rising number of blood donations, the market will register huge growth across the world in the coming years.