According to research by Future Market Insights, throughout the forecast period, the worldwide blood bags market is expected to increase in value from US$ 439.2 million in 2023 to US$ 840.1 million by the year 2033, at a CAGR of 6.7%. The top 3 nations are anticipated to control between 35 and 40 percent of the market by the end of 2023, which is expected to boost sales of blood bags.
Throughout the forecast period, the leading category is anticipated to continue to be blood bags with a capacity of 250 ml to 500 ml. Between 2023 and 2033, the target segment is anticipated to increase at a rate of 1.6 times the current market value.
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The advent of Sustainable and Intelligent Packaging Solution Skyrocketing the Demand for Blood Bags
With rising environmental concerns and the implementation of stringent regulations regarding the use of plastic across the U.S., China, India, the U.K., Germany, and others, a substantial rise in the adoption of sustainable packaging solutions is experienced across various end use industries.
In accordance to this, numerous packaging companies are shifting their focusing of manufacturing sustainable packaging using 100% recycled plastics, biodegradable plastics, and plastic alternatives such as paper. Hence, introduction of novel sustainable packaging solutions is expected to create lucrative demand opportunities in the market.
Also, emergence of intelligent packaging with the integration of artificial intelligence (AI), internet of things (IoT), and data science have improved the demand for Blood Bags market. Hence, key players are incorporating novel technologies such as AI and IoT to increase their revenues, propelling the sales.
Key Blood Bags Market Takeaways and Projections
- The U.S. is expected to lead the North America Blood Bags market, projecting the fastest growth in the region between 2023 and 2033
- Germany and the U.K. are expected to, collectively, hold the largest share in the Europe market over the assessment period.
- China will dominate the East Asia market, accounting for the largest demand share during the forecast period.
- India is expected to emerge as a highly remunerative market in South Asia, contributing the significant revenue share in the region through 2033.
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Report Benefits & Key Questions Answered
- Blood Bags Historical Market Analysis: The detailed survey by FMI, examines key factors in the Blood Bags market that affected the growth in the market for the last assessment period 2016-2020 and also studies their consequent impact. It also provide refined the sales projection of the Blood Bags market for the forecast period 2023-2033.
- Blood Bags Demand Outlook Analysis: Future Market Insight’s (FMI’s) exhaustive study provides crucial insights into key drivers and upcoming opportunities driving the demand for Blood Bags for the assessment period. As per the study, the demand for Blood Bags will grow at a robust CAGR between 2023 and 2033.
- Blood Bags Market Trend Analysis: The latest study by FMI on the Blood Bags market offers compelling insights into key expansion strategies adopted by top-tier players with respect to current trends. It discloses details regarding upcoming trends in the packaging industry to assist market players in constructing an effective strategy to capitalize on them.
Competitive Landscape Analysis
The market survey conducted by FMI offers key trends and challenges in the packaging industry and its consequent impact of Blood Bags market. The survey provides a thorough market share analysis to offer an in-depth analysis of prevailing competition.
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Blood Bags Market by Category
On the Basis of the Product Type, the Blood Bags are Segmented as:
- Single Blood Bag
- Double Blood Bag
- Triple Blood Bag
- Quadruple Blood Bag
- Penta Blood Bag
On the Basis of the Capacity, the Blood Bags are Segmented as:
- Less than 250 ml
- 250 ml – 500 ml
- Above 500 ml
On the Basis of the End User, the Blood Bags are Segmented as:
- Hospitals
- Diagnostic Centres
- Clinical Research
- Blood Banks
On the Basis of the Region, the Blood Bags are Segmented as:
- North America
- Latin America
- East Asia
- South Asia & Pacific
- Western Europe
- Eastern Europe
- Central Asia
- Russia & Belarus
- Balkan Countries
- Baltic Countries
- Middle East & Africa
About Future Market Insights, Inc.
Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2023 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.
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