Blood Thawing System Market: Introduction
According to the report, the global blood thawing system market was valued at ~US$ 174 Mn in 2019. The market is projected to expand at a moderate CAGR from 2020 to 2030. Blood thawing machine is used to thaw or warm blood components packed in plastic bags such as frozen plasma, erythrocyte concentrate, and whole blood. North America dominated the global blood thawing system market in 2019, followed by Europe and Asia Pacific.
North America’s dominance can be ascribed to the rise in the prevalence of cardiovascular diseases across the globe and increase in the geriatric population. These factors are also expected to drive the global blood thawing system market during the forecast period. Increase in the number of surgical procedures in developed countries and rise in focus on developing countries by leading market players are likely to propel the global blood thawing system market in the near future.
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Increase in Surgical Operations Globally to Drive Market
As per the WHO estimate, there were 266.2 to 359.5 million operations performed in 2012. This characterizes an increase of 38% of surgery rate over the previous eight years. Surgical volume is estimated to rise significantly in the near future too. The rise in the number of surgeries ultimately boosts the demand for blood during surgery, thus increasing the need for blood to be thawed, which is driving the blood thawing system market.
Rise in Use of Thawed Cells in Research and Treatment of Diseases to Drive Global Market
As per the WHO, the number of people with diabetes has increased from 108 million in 1980 to 422 million in 2015. Furthermore, the prevalence of diabetes has been increasing in low-middle income countries. Thus, increase in the use of thawed cells in various chronic diseases, such as diabetes, is fuelling the blood thawing system market.
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Blood Thawing System Market: Prominent Regions
In terms of region, the global blood thawing system market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominated the global blood thawing system market in 2019, followed by Europe and Asia Pacific. As per research, increase in geriatric population resulting in the rise in prevalence of atrial fibrillation and other cardiac diseases is a major factor attributed to the dominance of North America in the global blood thawing system market.
The blood thawing system market in Europe is anticipated to expand at a considerable CAGR from 2020 to 2030. The expansion of the blood thawing system market in the region can be attributed to surge in the prevalence of end-stage renal disease (ESRD), favorable reimbursement policies, and early introduction of medical equipment in the region.
Government support in spreading awareness about dialysis is another major factor that drives the blood thawing system market in Europe. Additionally, CytoSorb, EU approved extracorporeal cytokine adsorber developed for reducing cytokine storm and other inflammatory mediators in the blood is being significantly used in the treatment of critically ill COVID-19 patients. It has been successfully employed in the treatment of COVID-19 patients in Italy and Germany, among other countries.
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Product Launch and Innovations by Key Players to Fuel Market Growth
The global blood thawing system market is consolidated in terms of number of players. The market is dominated by key players with innovative product offerings, robust and strong geographic presence, and adoption of technological advancements in the market. Key players include Fremon Scientific Inc., Helmer Scientific Inc., Barkey GmbH & Co. KG, Boekel Scientific, KW Scientific Apparatus Srl, Cardinal Health, Cytiva (GE Healthcare), Sarstedt AG & Co. KG, Thermo Fisher Scientific, Inc, and Sartorius AG. In January 2019, FreMon Scientific secured approval from the U.S. Food and Drug Administration for its Zip Thaw medical device for frozen plasma thawing.
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