Saudi Arabia Blood Bags Market to Grow at a CAGR of 9.1% during Forecast Period
Published | 27 July 2022
Saudi Arabia Blood Bags Market is flourishing owing to the expanding hospitals, blood banks, and other healthcare facilities along with the rising government initiatives to improve the healthcare sector…
A recent study conducted by the strategic consulting and market research firm, BlueWeave Consulting, revealed that the Saudi Arabia Blood Bags Market is forecast to grow at a CAGR of 9.1% during 2022 - 2028. The Saudi Arabia Blood Bags Market is booming because of the growing surgical cases, along with sharp increases in blood-related illnesses such as kidney disease, cancer, hemophilia, and anemia. Also, rising rates of blood-related disorders and an increase in the number of road accidents requiring blood transfusions fuel the market growth. Furthermore, Saudi Arabia Blood Bags Market is one of the most emerging markets that grow continuously owing to the fast integration of new technologies such as the Internet of Things (IoT), Artificial Intelligence (AI), cloud computing, and others. However, a shortage of trained labor to operate these blood bags may restrain market expansion.
Surgical Methods Promise Market Development
The market for blood bags in Saudi Arabia is expected to develop over the next five years as a result of rising surgical treatments for various chronic diseases and an increase in the prevalence of chronic diseases among the population. The demand for the blood bags used during surgeries and the expansion of the Saudi Arabia blood bags market over the next five years are both aided by rising incidences of cardiovascular illnesses, cancer, etc., and increased surgical ways of treating the ailment. Additionally, elements like the country's expanding blood bank population support the market's expansion. There are more than 150 private and public blood-bank systems in Saudi Arabia. The demand for operations for treatment and the expansion of the country’s blood bag market over the next five years are both being aided by an increase in accidents, including those that occur on the road, in the workplace, and elsewhere. Furthermore, rising public awareness of the need for blood donations is supporting the market's expansion.
Traffic Accidents Fuel Market Expansion
Even though the death rate from traffic accidents has significantly fallen in Saudi Arabia in recent years, the market for blood bags in Saudi Arabia is expected to expand over the next five years due to the high number of incidents that occur both on and off the road each year. Accidents frequently result in the patient suffering from severe limb trauma, bone fractures, etc., and treatments and operations for these conditions result in significant blood loss. As a result, the expansion of the market during the forecast period is anticipated to support owing to the need for blood bags to replace a patient's lost blood. Furthermore, the harsh surgical procedure's continued advancement of organ replacement further articulates the expansion of the Saudi Arabia Blood Bags Market.
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Segmental Coverage
Saudi Arabia Blood Bags - By Volume
Based on volume, the Saudi Arabia Blood Bags Market is segmented into 100 ml, 150 ml, 250 ml, 300 ml, 350 ml, 400 ml, 450 ml, 500 ml and Above. Among these, 250 ml dominates the market share. Generally, each bag typically contains 250ml. Each bag will increase the patient's hemoglobin by about 1 g/dl (hematocrit 3 percent). Additive solutions are anticoagulant preservative solutions that contain varying concentrations of adenine, allowing RBCs to be stored for up to 42 days.
Saudi Arabia Blood Bags - By Material
Based on material, the Saudi Arabia Blood Bags Market is segmented into PVC, PET, and Others. PVC segments dominate the market share. This is owing to its benefits to have a certain permeability to oxygen, and that is the major justification. Moreover, these PVC bags can reduce bacterial contamination, create components, and improve storage with less hemolysis. All these factors boost the growth of the Saudi Arabia Blood Bags Market during the forecast period (2022-2028).
Impact of COVID-19 on Saudi Arabia Blood Bags Market
The COVID-19 pandemic is anticipated to increase demand for disposable blood bags worldwide. In the COVID-19 pandemic, passive immunotherapy using whole blood or plasma from recovered patients has emerged as a promising infection prevention strategy. The practice of transfusing neutralizing antibodies using recovered blood is used by hospitals all over the world. The rapid adoption of immunotherapy using blood and plasma has led to an increase in the usage of blood bags, which is expected to drive market growth throughout the projected period. Therefore, market growth is constrained by the significant risk associated with blood donation and transfusions.
Competitive Landscape
The leading market players in the Saudi Arabia Blood Bags Market are Madac International, Abdulla Fouad Group, Haemonetics Corporation Saudi Arabia, Teleflex Company, Terumo Middle East, Fresenius Medical Care Saudi Arabia Limited, Grifols Saudi Arabia, and other prominent players. The Saudi Arabia Blood Bags Market is highly fragmented with the presence of several manufacturing companies in the country. The market leaders retain their supremacy by spending on research and development, incorporating cutting-edge technology into their goods, and releasing upgraded items for customers. Various tactics, including strategic alliances, agreements, mergers, and partnerships, are used.
The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of the Saudi Arabia Blood Bags Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in the Saudi Arabia Blood Bags Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.
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