Description
The Blood Warmers Market was valued at $960.11 Million in 2018 and is forecast to grow at a modest 8.9 % CAGR between 2018 and 2025, culminating in 2026 global sales of $2.22Billion.
Industry at a Glance.
A blood warmer is used to warm blood or other fluids, minimizing the risk of hypothermia. Blood is kept refrigerated for preservation of the cells. It is essential to warm it to an appropriate temperature not only to prevent hypothermia but also to prevent hemolysis, or breakdown of the blood cells.
Increasing volume of surgical, hospital, outpatient procedures, rising demand for blood/IV warmers from ambulatory services and military/defense sectors, growing infectious disease epidemic, and blood loss due to injury/shock are projected to drive the market growth.
As per the 2019 article published under the Kidney Project by the University of California San Francisco, about 750,000 patients per year in the United States and an estimated 2 million patients worldwide are affected by end-stage renal disease (ESRD), which drives the adoption of dialysis machine and in-turn drives the demand for blood warmer devices.
According to the Global Status Report on Road Safety 2018, approximately 1.35 million individuals die in road accidents every year. The companies are shifting to new product developments as one of the major strategies to achieve market growth. Moreover, the key players invest significantly towards R&D to develop advanced products.
Pricing Analysis
“Optimal Price Point (OPP) for Global Blood Warmers”
Estimated Average product/ service cost – $ xx globally. However, with improving access and availability of options, OPP and range of acceptable Prices (RAP) are going to change. We at Ameri Research continuously track these prices with our proprietary pricing model.
Due to the wide array of products available in the market, pricing, positioning, and sales channel optimization play a vital role in the success of a product. On average, in Global Blood Warmers are available at USD xxx- USD xxxx. However, high-end products are available at much higher prices. The prices in emerging countries and developed countries vary significantly due to the difference in purchasing power and availability of the latest products.
Global Blood Warmers Market by “Key Product Categories”
We have segmented the Global Blood Warmers-based on Key Product Categories as Portable Blood/IV fluid warmers and Non-Portable Blood/IV fluid warmers.
We have observed the rapid growth of Blood Warmers followed by the Non-Portable Blood/IV fluid warmers segment has the largest market share of 47.4% in 2018 and is estimated to grow during the prediction period. Basically, A fluid warmer is a medical device used in healthcare facilities for warming fluids, crystalloid, colloid, or blood product, prior to being administered (intravenously or by other parenteral routes) to body temperature levels in order to prevent hypothermia in physically traumatized or surgical patients.
Global Blood Warmers Market by “End-Use Categories”
We have segmented the Global Blood Warmers-based on End-Use Categories as Hospitals/Clinic, Ambulatory Services, Defense Forces, and Rescue Forces.
We have observed the rapid growth of Blood Warmers followed by the Hospitals/Clinic segment has the largest market share of 65.8% in 2018 and is estimated to grow during the prediction period. Basically, sing a blood warmer is indicated when more than 50% of the patient’s fluid volume is going to be replaced with a transfusion, or when blood is going to be infused very rapidly. Another consideration can be in surgery where several units of blood are necessary, and more might be needed later.
We also observed the significant growth of Ambulatory Services with a CAGR of 2.1% over the forecast period.
Regional Segmentation
North America and Asia Pacific accounted for the maximum revenue share of over xx% in 2018 due to increased demand for Global Blood Warmers followed by EU- Top 5 countries contribute $X.9 Billion in 2018 and expected to reach $x.5 Billion by 2026.
The North America is aniticipated to be the fastest-growing with a CAGR of 41.20% market from 2018 to 2026. China and India are investing in their healthcare sector as well as continuously increasing population, rising disposable income, rise in lifestyle diseases, the increasing number of product development in patient temperature control systems, growing demand for blood/IV warmers, are the growth factor of this region.
The Asia Pacific region led the market and accounted for the largest Market share of % in 2018, in terms of developing market and End-use industries, in the global market. Due to the stringent government policies, rising presence of quality medical device manufacturers, increased awareness, increased medical expenditure, and demand from remote emergency healthcare and defense sectors are the main region to propel the region in the upcoming future.
“Competitive Landscape” and “Merger & Acquisition Insights”
The key market participants are Stryker Corporation, Gentherm Medical, Belmont Medical, Kimberly-Clark, 3M, Mennen Medical, and Smith’s Medical. are few major players in Global Blood Warmers markets. The Global Blood Warmers market is fragmented with a large number of global & local players. Merger &Acquisitions, collaborations & new products launch are some of the major strategies adopted by key market players. Apart from this innovation & new product development are major focus areas for dominant companies.
Market Segmentation
Global Blood Warmers Market by Key Product Categories (Revenue, Million, 2018 – 2026)
- Portable Blood/IV fluid warmers
- Non-Portable Blood/IV fluid warmers
Global Blood Warmers Market by End-Use Categories (Revenue, Million, 2018 – 2026)
- Hospitals/Clinic,
- Ambulatory Services
- Defense Forces
- Rescue Forces
Global Blood Warmers Market Regional Outlook (Revenue, USD Million, 2018-2026)
North America
- U.S.
- Canad
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Asia Pacific
- Japan
- China
- India
- Australia
- Latin America
- Brazil
- Mexico
- Columbia
- Middle East and Africa
- South Africa
- Saudi Arabia
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