Autotransfusion Devices Market Foreseen to Witness 6.9% CAGR from 2017 to 2026
Advancements in medical science have led manufacturers to develop various devices and medical equipment, human life betterment being the sole purpose. Such is the case with blood transfusion, where manufacturers have come up with devices that allow efficient and infection free transfusion. Autotransfusion devices are gaining high acceptance owing to benefits such as infection transmission, better transfer of oxygen and absence of isosensitization. With increasing occurrence of cardiac diseases across the globe, the need for autotransfusion has risen, thus pushing the demand for autotransfusion devices.
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As per American Heart Association, more than 80 million people across the globe are victims of heart problems, which is result of unbalanced diet, increasing stress and change in lifestyle, which results in hemorrhage. Moreover, allogenic blood transfusion used in cardiac surgery results in higher blood loss. This aspect coupled with growing incidences of heart problems and cardiac surgeries has resulted in adoption of advanced transfusion systems, thus propelling the growth in use of autotransfusion devices among several end users such as hospitals and ambulatory surgical centers.
According to the analytical research done by Transparency Market Research, the global market for autotransfusion devices is projected to expand at a stellar pace in the years to follow. This market growth is triggered by increasing use of autotransfusion devices in hospitals and cardiac research centers. The global market for autotransfusion devices is expected to rise at a CAGR of 6.9% during the period of forecast, 2017-2026.
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Medical device manufactures all over the world are continually striving to invent and introduce additional features in their products. For example, Fresenius Kabi has come up with a continuous autotransfusion method that permits continuous flow of blood eliminating fat content from blood. Players involved in developing autotransfusion devices include Fresenius Kabi, Haemonetics, LivaNova, Medtronic, Terumo Corporation, Stryker, Atrium Medical and Advancis Surgical.
North America has been the main pivot driving the use of several medical devices and equipment. The region, especially United States, is marked with increasing number of cardiac problems. Population in the region have a fast yet stressful lifestyle, which is the main cause of heart diseases in the region. Moreover, incidence of cardiac surgeries in United States and Canada has risen which has prompted healthcare facilities to adopt advanced medical equipment to carry out efficient operations. This has resulted in growing adoption of autotransfusion devices in North America.
According to World Health Organization, the number of deaths in United States due to cardiac disorders crossed 45,000 in 2015. As per American Heart Association analysis, around 2,200 people in United States die each day owing to cardiac disorders. This has fuelled the need of initiating advanced medications in the country with higher precision in treatment and operations. According to research, the sale of autotransfusion devices in North America is expected to reach US$ 890 Mn by end of the year of assessment.
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Autotransfusion devices are used in different healthcare faculties such as hospitals and ambulatory surgical centers. Transparency Market Research observes that adoption of these devices in ASCs (Ambulatory Surgical Centers) has risen since past years. ASCs have specialist surgeons, advanced medical equipment for operations, and enhanced operating rooms. Moreover, they have reduced risks of infections as compared to hospitals. These aspects have resulted in increasing surgical procedures in ASCs that directly have influenced the adoption of autotransfusion systems in these facilities.