New York City, New York, March 09, 2016: A market research report published by Persistence Market Research, titled “Global Disposable Plastic Blood Bags Market will reach US$4,13,084.8 thousand in 2020”, is a comprehensive analysis of the current state of the global market for disposable plastic bags. The report studies the key driving forces, restraints, trends, and an overview of recent developments in the global market that can collectively shape the market’s future in the years to come.
The report states that the market, which in 2014 had a net valuation of US$2,44,286.8 thousand, will grow at a positive 9.1% CAGR between 2015 and 2020 and rise to US$4,13,084.8 thousand by 2020.
The report attributes the high growth prospects of the market to factors such as the rising prevalence of blood-related diseases and advancement in technologies related to blood storage and preservation. The rising global geriatric population is also a chief factor leading to the rising demand for whole blood and its various constituent elements, subsequently leading to an increased demand for a variety of disposable plastic blood bags in the market.
The developing world, due to its obvious economic challenges and competing needs for overstretched healthcare resources from various social strata, faces numerous challenges in the fields of safety and availability of blood and its components. Blood shortages are taking lives that could otherwise have been saved at a continuous pace in many developing parts of the globe. As such, the developing world makes for the most fruitful regions for the global market for disposable plastic blood bags.
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The report states that India and China, the world’s two most populous developing nations, will project the highest demand for disposable plastic blood bags over the report’s forecast period. Currently, the market for disposable plastic blood bags in the U.S. is the largest regional segment of the global disposable plastic blood bags market. The high prevalence of a number of blood disorders in the U.S., coupled with the rising geriatric population, are the key factors making this regional market the current leader in the global market.
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Disposable plastic blood bags, the biomedical devices used for collecting, storing, transfusing, and transporting blood and its components, are observing a rising demand across the globe also due to the rising prevalence of a number of chronic diseases, a variety of cancers, and heart diseases. However, the market is limited to a certain extent owing to factors such as the various risks associated with blood transfusion and the lack of awareness about the numerous advancements observed in the market over the past years. Poor healthcare infrastructure in developing regions, along with poor blood storage and collection facilities across the globe, are also some of the key factors limiting the global market for disposable plastic blood bags.
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The market is slightly concentrated owing to the prominence of the company Terumo Corporation. In 2013, Terumo Corporation led the market by holding nearly 38% of the market. Other prominent companies operating in the global disposable plastic blood bags market include Grifols, S.A., Haemonetics Corporation, MacoPharma SA, and Fresenius SE & Co. KGaA.
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