The global disposable plastic blood bag market revenue stood at $484.5 million in 2020. Moreover, the market is predicted to exhibit rapid expansion in the coming years, primarily because of the growing incidence of chronic ailments and mushrooming population of geriatric people all over the world. Additionally, the implementation of various initiatives by the governments of many countries for raising public awareness about blood donation and the benefits of using disposable blood bags will also fuel the growth of the market in the coming years.
According to the World Population Ageing 2020 report published by the United Nations Department of Economic and Social Affairs (UNDESA), the population of people aged 65 years or above will rise from 727 million in 2020 to more than 1.5 billion by 2050. As geriatric people are highly susceptible to various chronic diseases, their growing population is positively impacting the worldwide demand for disposable plastic blood bags. Moreover, the surging environmental concerns are also pushing up the demand for disposable plastic blood bags.
These bags are rapidly becoming popular and replacing the conventionally used glass bottles, owing to the excessive autoclaving and cleaning requirements associated with the usage of glass bottles. Additionally, the chances of spillage because of breakage at any stage during the blood collection and transportation process are also massively reduced when using plastic bags. Owing to these factors, these bags are being increasingly used in applications in separating blood and its various components, such as platelets and RBCs.
Geographically, North America is currently dominating the disposable plastic blood bag market, majorly on account of the rising incidence of blood disorders and surging investments being made in research and development (R&D) activities by various companies operating in the region. For example, acute and chronic myeloid leukemia are the most prevalent types of leukemia in the region. As per the Leukemia and Lymphoma Society in the U.S., one person is diagnosed with blood cancer in the country every three minutes. The U.S. is contributing higher revenue to the regional market currently and it will hold larger share in the coming years as well, as per the estimates of P&S Intelligence.
Hence, it can be said without any hesitation that the sales of disposable plastic blood bags will soar in the coming years, mainly because of the rising incidence of chronic diseases, surging population of geriatric people, and soaring concerns being raised over the rising pollution levels and landfill volume all over the world.
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