Blood collection monitor is a compact medical device. It is used to monitor homogenous mixing of blood and anticoagulant during collection of blood from a donor.
Blood Collection Monitor Market: Introduction
- Blood collection monitor is a compact medical device. It is used to monitor homogenous mixing of blood and anticoagulant during collection of blood from a donor. The device is used primarily to prevent clot formation. Blood collection monitors are used in hospitals, research clinics, and pharmaceuticals industries.
- Blood collection monitor also prevents damage to blood cells during collection. The device has audible and visual warning systems that notify an abnormal condition of the donor.
- Blood collection monitor device has facility to check, set volume, gram, and time totalizer during collection
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Blood Collection Monitor Market: Key Drivers and Restraints
- Increase in blood transfusion reaction and blood disorders demand the need of blood collection monitors. Surge in the geriatric population has led to the increase in critical life-saving surgical procedures, which demand blood transfusion. These factors have contributed to an increase in the inventory levels of blood banks and blood centers. As a result, rise in demand for blood collection monitors is likely to propel the market during the forecast period.
- According to the World Health Organization (WHO), the global geriatric population is expected to increase from 1 billion in 2010 to around 1.4 billion by 2030 and 2.1 billion by 2050. Moreover, the global geriatric population is likely to increase at the fastest rate in developed countries such as Italy, Germany, the U.K., the U.S., and Japan. Hence, increase in the global geriatric population augments the demand for blood collection monitors.
- Growth of the global blood collection monitor market is attributed to increase in incidence of trauma & accidents and surge in number of surgical procedures carried out across the world
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- Additionally, developments in healthcare, technology, and medical services demands the need of blood collection monitors to fulfill patient needs. Therefore, healthcare providers are adopting blood collection monitors with the aim of providing better healthcare services to patients. Therefore, the demand for blood collection monitors is increasing across the world.
- However, large hospitals and blood banks that have enough funds to invest might not necessarily adopt this technology because of lack of awareness about its financial benefits in the long term. Moreover, hospitals and blood banks in developing countries might not be able to afford such high cost. This in turn is likely to hamper the growth of the global market.
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North America to Capture Major Share of Global Blood Collection Monitor Market
- North America is projected to dominate the global blood collection monitor market during the forecast period due to strong demand for the devices and rise in awareness among individuals about blood transfusion reaction
- Europe accounted for the second largest share of the global market in 2020
- According to the World Health Organization (WHO), around 1.3 million people die each year because of road traffic crashes. Over 90% of road traffic deaths occur in low and middle income countries. Therefore, increase in demand for blood collection monitors fuels the growth of the market in Asia Pacific.
- Japan and China accounted for the largest share of the blood collection monitors market in Asia Pacific due to strong demand and increase in awareness about the device
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Key Players Operating in Global Blood Collection Monitor Market
Major players operating in the global blood collection monitor market are:
- DSK International
- Terumo Penpol
- REMI GROUP
- Bioelettronica S.r.l.
- Accurate Scientific Instruments
- Delcon SRL
- Labtop Instruments Pvt. Ltd.
- Haemonetics Corporation
- Lmb Technologie GmbH
- Krew Instruments Pvt. Ltd.
- Meditech
- Fenwal
- BIOBASE
- Thermo Spectrum Instruments Pvt. Ltd.
- HiCARE
- VAV Instruments
- Other players
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