Autotransfusion Devices Market to Reach $0.5 Billion by 2032 Fueled by Rising Cardiovascular Disease and Blood Conservation Trends | Growing Demand for On-Pump and Off-Pump Devices in Hospitals Across North America, Europe, Asia-Pacific
Research Reports
Jul 15, 2024
Market Overview
Autotransfusion Devices Market Research Report Information By Product Type (On-pump Transfusion Device and Off-pump Transfusion Device), By End-user (Hospitals, Ambulatory Surgical Centers, and Cardiac Research Centers), And By Region (North America, Europe, Asia-Pacific, And Rest Of The World) –Market Forecast Till 2032.
Autotransfusion Devices Market Size was valued at USD 0.3 Billion in 2023. The autotransfusion devices market industry is projected to grow from USD 0.4 Billion in 2024 to USD 0.5 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 5.20% during the forecast period (2024 – 2032).
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Market Dynamics
With the increasing prevalence of cardiovascular diseases, the autotransfusion devices market is projected to experience significant growth in the coming years. Cardiovascular diseases (CVDs), which affect the heart and blood vessels, are a major driver behind this trend. The shift towards autotransfusion devices is largely due to automation, which is leading to a preference for using a patient’s own blood rather than allogeneic blood transfusions. Autotransfusion optimizes the use of a patient’s own blood, reducing risks and complications associated with external blood donations.
The demand for autotransfusion devices is also being fueled by the need for effective blood preservation. Blood conservation techniques aim to minimize the use of allogeneic blood before and after surgery, thereby improving patient outcomes and protecting their rights. Autotransfusion devices help reduce blood loss during surgical procedures and enhance patient recovery.
Furthermore, autotransfusion offers several advantages, including the elimination of isosensitization risks, improved oxygen transfer, and enhanced coagulation factor activity. This method also avoids pretransfusion examinations, prevents surgical delays due to blood shortages, reduces the need for homologous blood, and addresses religious concerns about blood transfusions. The rise in acceptance of autotransfusion is linked to increased awareness of medical procedures and blood transfusions. As a result, the market for autotransfusion devices is expected to grow significantly.
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Segment Analysis
The global autotransfusion devices market is divided into product type and end-user segments.
Product Type: The market is categorized into On-pump Transfusion Devices and Off-pump Transfusion Devices. In 2023, the Off-pump Transfusion Devices segment held the largest market share. This is due to their perceived safety advantages over traditional methods, ease of use, and the fact that they do not result in blood loss during transfusion.
End-User: The market is segmented into Hospitals, Ambulatory Surgical Centers, and Cardiac Research Centers. In 2023, Hospitals were anticipated to dominate the market. This is attributed to the growing number of cardiac and obstetrical/gynecological procedures performed in hospitals. The market growth in hospitals is expected to be further supported by advancements in healthcare infrastructure in developing regions and an increase in the number of advanced healthcare facilities. These factors are likely to drive significant growth in the hospital segment of the autotransfusion devices market.
Regional Analysis
The global autotransfusion devices market is divided into North America, Europe, Asia-Pacific, and the Rest of the World. North America includes the US and Canada, Europe covers Germany, France, the UK, Italy, Spain, and other European countries, Asia-Pacific encompasses China, India, Japan, Australia, South Korea, and other countries in the region, and the Rest of the World includes the Middle East, Africa, and Latin America.
In 2023, North America held the largest share of the autotransfusion devices market. This dominance is due to the region’s advanced medical facilities, increasing prevalence of orthopedic and cardiovascular conditions, and an aging population that raises the need for organ transplants. Additionally, the availability of cost-effective autotransfusion devices is expected to further drive market growth in North America.
Europe’s market has also been steadily growing. This growth is driven by the need for enhanced healthcare infrastructure and a higher demand for blood transfusions during surgeries. The UK, with its strong manufacturing sector, plays a significant role in the increasing demand for autotransfusion devices.
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The Asia-Pacific region is projected to experience the fastest growth during the forecast period. This expansion is attributed to the entry of new market players and heightened awareness of cell salvage technologies. Many developed countries in the region have adopted autotransfusion techniques, devices, and consumables, supported by government efforts to reduce the risk of transfusion-transmitted infections.
In the Rest of the World, which includes the Middle East, Africa, and Latin America, the autotransfusion devices market is expected to grow significantly. Emerging markets in this region are gaining attention due to the reduced risk of transfusion-transmitted infections. Additionally, the rising incidence of cardiovascular diseases, such as heart attacks and strokes, is driving the demand for autotransfusion devices in these areas.
Competitive Dynamics
MRFR recognizes the following companies as the key players in the global autotransfusion devices market – Terumo Corporation, Fresenius Kabi AG, Haemonetics Corporation, Medtronic, Stryker, LivaNova PLC, Atrium Medical Technologies, and Advancis Surgical.
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