Number of pages: 100 | Report Format: PDF | Published date: October 03, 2022
Historical Years – 2020 | Base Year – 2021 | Forecasted Years – 2022-2030
Report Attribute |
Details |
Market size value in 2021 |
US$ 251.5 million |
Revenue forecast in 2030 |
US$ 386.06 million |
CAGR |
4.90% |
Base year for estimation |
2021 |
Forecast period |
2022-2030 |
Segments covered |
Product Type, Application, End User, and Region |
Regional scope |
North America, Europe, Asia Pacific, and the Rest of the World (RoW) |
The global autotransfusion devices market was pegged at US$ 251.5 million in 2021 and is expected to witness a CAGR of 4.90% during the forecast period.
Market Fundamentals
The collection of blood or blood products derived from a patient's circulation that is collected or lost from a wound or body cavity before, during, or after surgery for later reinfusion is called autotransfusion. Autotransfusion devices employ the cell salvage technique. Blood from the surgical site is collected, filtered, and processed as autologous blood for pretransfusion to the patient. Autotransfusion devices collect blood in containers containing a small amount of anticoagulant and heparin. Autotransfusion devices retain red blood cells while plasma, platelets, and others are discarded with a washing solution. Autotransfusion devices are used in many complex surgeries, such as cardiac surgery, orthopedic surgery, neurological surgery, and oncology surgeries, where there is a high risk of blood loss.
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Market Dynamics
The global autotransfusion devices market is mainly driven by the increasing prevalence of chronic diseases, cardiac diseases, the geriatric population, and cardiac surgeries. Additionally, the shortage of blood donors, the rising number of organ transplant procedures, and increasing cases of trauma contribute to the growth of the global autotransfusion devices market. Moreover, technological advancement, the introduction of novel products, and government initiatives fuel the development of the global autotransfusion devices market. However, the high cost of autotransfusion devices, complicated procedures, and increasing demand for minimally invasive surgical techniques are restricting the growth of the global autotransfusion devices market.
Market Ecosystem
The global autotransfusion devices market has been analyzed from four perspectives: product type, application, end user, and region.
Autotransfusion Devices Market by Product
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Based on product, the global autotransfusion devices market has been segmented into autotransfusion devices and consumables & accessories. Autotransfusion devices are currently leading the global market owing to increasing rates of open surgeries for chronic diseases, technological advancements, and the introduction of novel products such as intraoperative autotransfusion systems, dual mode autotransfusion systems, and post-operative autotransfusion systems. Additionally, autotransfusion devices prevent disease transmission, and the blood lost during a surgical procedure can be reused with autotransfusion devices. In January 2022, The American Red Cross informed the worst blood crisis amid the Omicron surge. The blood shortfall in over a decade is threatening patient care. Doctors were challenged to decide whether someone receives blood transfusions and who must wait amid a crisis. Such events further intensify the need for autotransfusion during life-saving surgeries.
Autotransfusion Devices Market by Application
Based on application, the global autotransfusion devices market is segmented into neurological surgeries, cardiovascular surgeries, orthopedic surgeries, obstetrics & gynecological surgeries, and others. Cardiovascular surgeries are leading the global autotransfusion devices market owing to the rising prevalence of cardiac diseases and autotransfusion recommendations by surgeons during cardiac surgery. According to the American Heart Association, in 2019, cardiovascular diseases caused nearly 874,613 deaths in the United States. The increase in the overall prevalence of cardiovascular diseases and the resultant growth in demand for open heart surgeries drive the demand for autotransfusion devices in the cardiovascular surgeries segment.
Autotransfusion Devices Market by End-user
Based on end-user, the global autotransfusion devices market has been segmented into hospitals, specialty clinics & others. The hospital segment is leading the global autotransfusion devices market owing to the rising prevalence of chronic diseases and high patient footfall in hospitals for diagnosis, treatment, and surgical procedures. Additionally, the adoption of technology and increasing numbers of multispecialty hospitals, especially in developing economies, are contributing to the growth of hospitals' global autotransfusion devices market.
Autotransfusion Devices Market by Region
The global autotransfusion devices market has been segmented based on regions: North America, Europe, Asia Pacific, and the Rest of the World. North America dominated the global autotransfusion devices market in terms of revenue share. The large share of North America in the global market can be attributed to the early adoption of novel surgery technologies, the strong presence of key players, the high patient population of cardiac and other chronic diseases, and favorable reimbursement policies for autotransfusion procedures. The presence of developed infrastructure and high healthcare expenditure also provide a nurturing foundation for market growth in North America. The Asia Pacific is also expected to show exponential growth during the forecast period owing to rapid population growth, a consistent increase in the prevalence of cardiovascular diseases, and the rapid evolution of healthcare infrastructure.
Competitive Landscape
Some of the prominent players operating in the global autotransfusion devices market are
Strategic Developments
North America and the Asia Pacific are the key growth regions in the global autotransfusion devices market.
Growing investments biotechnology and pharmaceutical industry owing to the demand for novel therapeutics and biologics is a key driving factor for the global autotransfusion devices market.
The expected CAGR for the global autotransfusion devices market is 15.90% during the forecast period from 2022 to 2030.
The estimated market size of the global autotransfusion devices market will be US$ 1,846.13 million in 2030.
*Insights on financial performance is subject to availability of information in public domain