The Global Blood Warmer Devices Industry is gearing up for a remarkable journey, fueled by a projected Compound Annual Growth Rate (CAGR) of 7.6% from 2022 to 2032, as indicated by the latest study conducted by Future Market Insights (FMI). In 2022, the market is anticipated to achieve a significant valuation of US$ 451.2 million, with a forecasted surge to an impressive US$ 937.5 million by the end of 2032.
Among the noteworthy findings, intravenous warming systems have emerged as the market leader, capturing a substantial market share of 47.1% in 2021. FMI’s comprehensive report provides a detailed trajectory analysis of the industry, offering invaluable insights into crucial market drivers, trends, and challenges.
The FMI study reveals a consistent growth trajectory for the Global Blood Warmer Devices Industry, projecting a 5.0% CAGR from 2017 to 2026. By the conclusion of 2026, the market is estimated to generate an impressive US$ 223.5 million in revenue.
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Hypothermia has become very common and causes major complications, this is driving the demand for blood warmer devices. Since these devices can help in preventing complications during the blood transfusion process the demand is expected to grow in the future. Companies are also investing in the research and development of portable and smart blood-warming devices. Manufacturers are also working on new business strategies to launch a new product. Partnerships and collaborative activities are also on the rise. The demand for disposable blood and fluid warmer devices is also increasing, due to the rise in some complications.
Key Market Players Competing to Sustain in the Global Blood Warmer Devices Industry
The report offers a detailed profile of some of the key market players in the Global Blood Warmer Devices Industry such as 3M Company, Smiths Medical, The 37 Company, GE Healthcare, Emit Corporation, Stryker Corporation, Geratherm Medical, Barkey GmbH & Co. KG, Stihler Electronic GmbH, Biegler GmbH, Belmont Instrument, Keewell Medical Technology Co. Ltd., and Baxter International Inc. (Gambro). These key players are continuously working on new business strategies to offer better product and compete in the global market.
Forecast Highlights on the Global Blood Warmer Devices Industry
The Global Blood Warmer Devices Industry is segmented based on end user, product type, application, and region. Based on the product type, the segment includes intravenous warming system, surface warming system and blood warming accessories. Among these, surface warming system is expected to be the widely accepted product in the global blood-warmer devices market. By the end of 2026, surface warming system is estimated to surpass US$ 100 million revenue.
Based on end user, the segmentation consists of hospitals, blood banks, home care settings and others. Hospitals are expected to be the largest users of the blood warmer devices. By the end of 2017, hospitals are estimated to account for nearly two-third of the revenue share.
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Based on the application, the market is segmented into home care, preoperative care, acute care, newborn care, and other applications. Blood warming devices are expected to find the largest application in preoperative care. By the end of 2026, the preoperative care segment is estimated to reach nearly US$ 100 million in revenue.
Geographically, the market is segmented into Europe, North America, Japan, Asia Pacific Excluding Japan (APEJ), the Middle East and Africa (MEA), and Latin America. Among these, North America is expected to dominate the Global Blood Warmer Devices Industry during the forecast period 2017-2026. The increasing occurrence of hypothermia among aging population and infants in the U.S. is one of the factors driving the growth in North America. Growth in trauma cases and surgeries is also contributing to the growth of the market in the region.
Global Blood Warmer Devices Industry Taxonomy
Region
- North America
- Latin America
- Europe
- Japan
- APEJ
- MEA
Product Type
- Intravenous Warming System
- Surface Warming System
- Blood Warming Accessories
End User
- Hospitals
- Blood Banks
- Home Care Settings
- Other End Users
Application
- Preoperative Care
- Home Care
- Acute Care
- New Born Care
- Other Applications
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Author
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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