New York, July 25, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Autotransfusion Devices Global Market Report 2023" - https://www.reportlinker.com/p06479737/?utm_source=GNW
, Miltenyi Biotec, B. Braun Melsungen AG, GE Healthcare, Cerus Corporation, Fresenius Kabi AG, Stryker Corporation, Atrium Medical Technologies, Brightwake Ltd and Getinge AB.
The global autotransfusion devices market is expected to grow from $1.11 billion in 2022 to $1.17 billion in 2023 at a compound annual growth rate (CAGR) of 5.65%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The autotransfusion devices market is expected to reach $1.47 billion in 2027 at a CAGR of 5.81%.
The autotransfusion devices market consists of sales of on-pump transfusion devices and off-pump transfusion devices.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Autotransfusion devices refer to tools used to collect and reinfuse a patient’s blood during a medical procedure, instead of using donated blood.This process is also known as autologous blood transfusion and can help reduce the need for allogenic (separate-donor) blood transfusions.
Autotransfusion devices are commonly used in trauma patients in the emergency department and during surgeries.
North America was the largest region in the autotransfusion devices market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main products included in the autotransfusion devices include autotransfusion systems, consumables and accessories.Autotransfusion systems refer to medical devices and techniques that allow a patient to receive their own blood for a transfusion, instead of using blood from a separate donor.
They are used for various applications including cardiovascular surgeries, orthopedic surgeries, neurological surgeries, obstetrics and gynecology surgeries, and other applications for use in various end-users such as hospitals, specialty clinics and other end users.
The increasing number of surgical procedures is expected to drive the growth of the autotransfusion devices market.Surgical procedures refer to medical procedures that involve making an incision or destroying tissues in the body to remove, repair, or alter a part of the body.
Autotransfusion devices can be used in surgical procedures to reduce blood loss and improve patient outcomes.For instance, a report published in November 2021 by the American Academy of Orthopedic Surgeons (AAOS), a US-based non-profit orthopedic organization, and the Agency for Healthcare Research and Quality (AHRQ), a US-based agency of healthcare research estimated that 700,000 knee replacement surgeries and around 450,000 hip replacement surgeries are conducted annually in the United States.
Furthermore, according to a 2021 publication by the University of Alabama, a US-based state’s flagship university, it was estimated that 320,000 Coronary Artery Bypass Grafting surgeries were carried out in the United States in 2020. Therefore, the increasing number of surgical procedures is expected to propel the growth of the autotransfusion devices market.
Product innovation is a key trend gaining popularity in the autotransfusion devices market.Major companies operating in the autotransfusion devices market are focused on developing innovative products to strengthen their position and gain a competitive advantage.
For instance, in June 2020, ProCell Surgical Inc., a US-based medical equipment manufacturer, launched the ProCell. It is the first medical device created to automate the antiquated and manual process of surgical sponge-blood retrieval for intraoperative autotransfusion (IAT). It is uniquely designed to enhance the hospital’s surgical blood conservation efforts by utilizing an operating room’s standard vacuum suction to apply a sustained compressive force and extract blood from surgical sponges.
In October 2021, Morgan Stanley Infrastructure Inc., a US-based leading investment management and infrastructure firm acquired Specialty Care Inc. for an undisclosed amount. This acquisition aimed to improve patient care outcomes and the company’s growth being Morgan Stanley Infrastructure’s first investment in healthcare. Specialty Care Inc. is a US-based autotransfusion system services provider.
The countries covered in the autotransfusion devices market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
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