Report : Autotransfusion Device Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Type (Product and Accessories); Application (Cardiac Surgeries, Orthopedic Surgeries, Organ Transplantation, Trauma Procedures, and Others); End User (Hospitals, Specialty Clinics, and Ambulatory Surgery Centers); and Geography
Rising Prevalence of Chronic Diseases is driving the Market for Autotransfusion Deviceduringthe Forecast Period.
According to The Insight Partners market research study titled ‘Autotransfusion Device Market to 2027 –COVID-19 Impact and Global Analysis – by Type, Application, End User, and Geography.The global autotransfusion devicemarket is expected to reach US$ 1,270.67 millionby 2027 from US$ 936.64millionin 2019. The market is estimated to grow with a CAGR of 4.0% from 2020 to 2027.The report highlights the trends prevalent in the global autotransfusion devicemarket and the factors driving the market along with those that act as deterrents to its growth.
The autotransfusion device market by product is segmented into intraoperative autotransfusion systems, postoperative autotransfusion systems, and dual-mode autotransfusion systems. The intraoperative autotransfusion systems segment held the largest market share in 2019 and is expected to dominate the market in 2027 as the system has an easy-to-use control panel, contains sequestration protocol for collecting platelet-rich plasma and platelet-deficient plasma, and can be operated in automatic or manual mode. Moreover, the same segment is anticipated to witness the fastest growth rate of 3.7% during the forecast period.
Factors such as, involvement of rare blood groups, rising number of transplant procedures, and rising prevalence of chronic diseases are contributing to the growth of the market. However, risks associated with autotransfusion are likely to pose a negative impact on the market growth. On the other hand, need for reinfusion of blood is likely to have a positive impact on the growth of the global autotransfusion devicemarket in the coming years.
The emergence of COVID-19 pandemic is estimated to have significant impact on the autotransfusion device market. Majority of the pharmaceutical companies around the globe are engaged in the development of vaccine for COVID-19. However, this shift of focus for research and development is anticipated to have negative impact on the other segments of the market. Also, the disruptions in supply chain caused due to shut down of global operations are also projected to have adverse impact on the market by certain extent.
Some of the prominent players operating in autotransfusion devicemarket are Medtronic, Fresenius SE & Co. KGaA, Teleflex Incorporated, BD, Zimmer Biomet, Braile Biomedica, Haemonetics Corporation, SARSTEDT AG and Co. KG, LivaNova PLC, and Redax S.p.A..
The market players are focused toward bringing new and innovative products and services to sustain their position in the market. For instance, in December, 2016, Fresenius Kabi and Terumo Cardiovascular Group introduced CATSmart in the US Fresenius Kabi USA and Terumo Cardiovascular Group have signed an exclusive, five-year distribution agreement for CATSmart.The developments performed by the companies are helping the market to grow in the coming years.
Global Autotransfusion Device Market
The Report Segments the Global Autotransfusion Device Market as Follows:
Global Autotransfusion Device Market – By Type
Global Autotransfusion Device Market – By Application
Global Autotransfusion Device Market – By End User
Global Autotransfusion Device Market – By Geography