Autotransfusion Devices Market by Product and Geography - Forecast and Analysis 2020-2024
Global Autotransfusion Devices Market: About this market
Technavio’s autotransfusion devices market analysis considers sales from both systems and accessories products. Our study also finds the sales of autotransfusion devices in Asia, Europe, North America, and ROW. In 2019, the systems segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as increasing medical complications with allogeneic blood transfusion will play a significant role in the systems segment to maintain its market position. Also, our global autotransfusion devices market report looks at factors such as the rising number of cardiac and orthopedic surgeries, increasing demand for transplantation procedures, and complications related to allogeneic blood transfusion. However, high costs associated with autotransfusion, frequent product recalls, and limitations and presence of substitutes may hamper the growth of the autotransfusion devices industry over the forecast period.
Global Autotransfusion Devices Market: Overview
Rising number of surgeries
Blood transfusion is one of the key procedures to be performed during the intraoperative or postoperative procedures. Allogenic blood transfusion is mainly performed during the procedures, which may lead to various bacterial and viral infections. As a result, to avoid the risk of infection, autologous transfusions are being performed during these surgical procedures. Thus, an increase in various surgical procedures will lead to the expansion of the global autotransfusion devices market at a CAGR of almost 6% during the forecast period.
The procurement and maintenance of medical equipment account for a significant part of a healthcare organization's operational expenses. However, the growing technological innovation has enabled a paradigm shift in cost as well as the manageability of medical equipment. For instance, the launch of wearable devices has made patient monitoring much simpler and cost-effective and contributes to higher patient adherence to health monitoring. Thus, all these factors have the potential to accelerate the growth of the global healthcare equipment market, including the global autotransfusion devices market. Moreover, several companies focus on the development of technological platforms that are integrated with autotransfusion systems to provide blood products to patients during surgical procedures This development is expected to have a positive impact on the overall market growth.
For the detailed list of factors that will drive the global autotransfusion devices market during the forecast period 2020-2024, click here.
With the presence of a few major players, the global autotransfusion devices market is concentrated. Technavio’s robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of few leading autotransfusion device manufacturers, that include Becton, Dickinson and Co., Brightwake Ltd., Fresenius Medical Care AG & Co. KGaA, Getinge AB, Haemonetics Corp., LivaNova Plc, Medtronic Plc, Redax Spa, Teleflex Inc., and Zimmer Biomet Holdings Inc.
Also, the autotransfusion devices market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.
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