The growth of Autotransfusion Systems Market is driven by the increasing number of surgical procedures, rising number of transplant procedures, advantages of autotransfusion, and scarcity of donated blood/allogenic blood.
What the Market Looks Like?
Predicted to grow at a CAGR of 5.0% during the forecast period, the global Autotransfusion Systems Market is projected to reach USD 505 million by 2024 from USD 395 million in 2019. North America, by region, held the largest share of the market in 2019.
Since type, the Autotransfusion Systems Market is segmented into autotransfusion products & accessories. The autotransfusion products segment accounted for the largest share of the market in 2019. Autotransfusion products are associated with several advantages, which are expected to boost its adoption in the coming years. These components prevent the transmission of transfusion-related blood-borne diseases in patients, and they also provide more compatible blood in comparison to autologous blood transfusions. These advantages are likely to increase the demand for autotransfusion products during the forecast period.
Based on application, the Autotransfusion Systems Market is segmented into Cardiac Surgeries, Orthopedic Surgeries, Organ Transplantation, Trauma Procedures, and Other Procedures. The cardiac surgeries segment is expected to register the highest growth rate due to the high prevalence of cardiac diseases and recommendations for autologous transfusion (by entities such as the WHO) during cardiac surgeries.
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What Drives the Autotransfusion Systems Market?
The growth of the global market for Autotransfusion Systems is primarily influenced by the following factors:
• Increasing Number of Surgical Procedures
• Rising Number of Transplant Procedures
• Advantages of Autotransfusion
• Scarcity of Donated Blood/Allogenic Blood
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Geographical growth scenario of Autotransfusion Systems Market:
The large share of the North American market can mainly be attributed to the high and growing prevalence of target health conditions (cardiovascular, orthopedic, and trauma cases), increasing number of major transplant procedures, scarcity of allogenic blood, preference for autologous blood (due to its advantages), and the strong presence of key market players in the region.
Leading market players and strategies adopted
Becton, Dickinson and Company (US), Zimmer Biomet Holdings, Inc. (US), Teleflex Incorporated (US), and Haemonetics Corporation (US) are some of the major players operating in the North American market.
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