According to The Insight Partners market research study titled ‘Autotransfusion Device Market to 2027 –COVID-19 Impact and Global Analysis – by Type, Application, End User, and Geography.
According to The Insight Partners market research study titled ‘Autotransfusion Device Market to 2027 –COVID-19 Impact and Global Analysis – by Type, Application, End User, and Geography. The global autotransfusion device market is expected to reach US$ 1,270.67 million by 2027 from US$ 936.64millionin 2019. The market is estimated to grow with a CAGR of 4.0% from 2020 to 2027.The report highlights the trends prevalent in the global autotransfusion device market and the factors driving the market along with those that act as deterrents to its growth.
The autotransfusion process involves the reinfusion of the patient's blood collected from the peritoneal cavity or thorax region. The process can be carried out before surgery or during and after the surgery using the autotransfusion system. Medical procedures, such as joint replacement, spinal surgeries, and cardiac surgery require autotransfusion. It helps reduce the risk of infection, and eliminates the problems and complications associated with the banking and administration of homologous donor blood. It also prevents transmission of transfusion-related blood-borne diseases in patients.
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Autotransfusion Device Market Competitive Landscape
Some of the prominent players operating in autotransfusion device market are Medtronic, Fresenius SE & Co. KGaA, Teleflex Incorporated, BD, Zimmer Biomet, Braile Biomedica, Haemonetics Corporation, SARSTEDT AG and Co. KG, LivaNova PLC, and Redax S.p.A..
The market players are focused toward bringing new and innovative products and services to sustain their position in the market. For instance, in December, 2016, Fresenius Kabi and Terumo Cardiovascular Group introduced CATSmart in the US Fresenius Kabi USA and Terumo Cardiovascular Group have signed an exclusive, five-year distribution agreement for CATSmart. The developments performed by the companies are helping the market to grow in the coming years.
The emergence of COVID-19 pandemic is estimated to have significant impact on the autotransfusion device market. Majority of the pharmaceutical companies around the globe are engaged in the development of vaccine for COVID-19. However, this shift of focus for research and development is anticipated to have negative impact on the other segments of the market. Also, the disruptions in supply chain caused due to shut down of global operations are also projected to have adverse impact on the market by certain extent.
Organ transplantation is a surgical procedure that is done in case a patient’s organ stops functioning entirely. Although, the organ transplantation is generally done for organs such as heart, liver, and kidney, the rising cases of chronic diseases are leading to the need for transplantation for the other organs such as lung, pancreases, cornea, and vascular tissues. Organ transplantation is considered one of the advanced procedures in the modern medical industry. These types of procedures generally take hours, along with ample amount of blood loss. Thus the autotransfusion is one of the useful methods to prevent blood loss with the help of autotransfusion devices. According to the National Chronic Kidney Disease fact sheet, in 2017, ~30 million people have chronic kidney diseases in the US. Further, according to the National Institute of Diabetes and Digestive and Kidney Diseases, about 661,000 Americans have kidney failure, out of which 468,000 patients are undergoing dialysis, and 193,000 have undergone kidney transplantation. Owing to these facts, the cases of kidney transplantations are likely to increase in the coming years. Thus, the rising need for organ transplantation is among the key factors driving the autotransfusion device market.
Rising prevalence of chronic diseases
Chronic diseases such as cancer, cardiovascular diseases, and renal disorders are the major causes for human death. The treatment of such diseases involves surgical procedures; during the procedure, there is a chance of excessive blood loss. The loss can be compensated by infusing fresh blood or reinfusion of the patient’s blood with the help of autotransfusion devices. According to the data published by the National Institute of Cancer Prevention and Research (NICPR) and Indian Council of Medical Research (ICMR), the prevalence of cancer in India is estimated to be ~2.25 million every year. Thus the patient undergoes surgical procedures, which includes the removal of tumors and organs as a part of cancer treatment. During this procedure there can be excessive blood loss; this loss of blood can be recovered with the help of autotransfusion devices or supply of external blood.Thus the global autotransfusion devices market is expected to grow owing to the increase in surgical procedure due to chronic diseases.
Autotransfusion Device Market Segmentation Review
Based on type, the autotransfusion device market by types segmented into products and accessories. The accessories segment held a larger market share in 2019 and is expected to dominate the market in 2027 as they are ready to use and are pre sterilized, thereby helping in quick use during emergency cases. Moreover, the same segment is anticipated to also witness the fastest growth rate during the forecast period.
Based on product, the autotransfusion device market is segmented into intraoperative autotransfusion systems, postoperative autotransfusion systems, and dual-mode autotransfusion systems. The intraoperative autotransfusion systems segment held the largest market share in 2019 and is expected to dominate the market in 2027 as the system has an easy-to-use control panel, contains sequestration protocol for collecting platelet-rich plasma and platelet-deficient plasma, and can be operated in automatic or manual mode. Moreover, the same segment is anticipated to also witness the fastest growth rate during the forecast period.
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