Wilmington, Delaware, United States, June 05, 2023 (GLOBE NEWSWIRE) — The blood thawing system market was valued at USD 174 Mn in 2019, and is projected to Reach USD 400 Mn by 2030 at a CAGR of 8%.
Growth in geriatric population, increase in use of thawed cells in the research and treatment of diseases, new product launches, rise in surgical procedures globally, and high incidence of road accidents are fueling the blood thawing system market.
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Manufacturers are developing FDA approved, CE marked, ISO certified, and UL listed plasma defrosters to increase their market share. Applications such as plasma frozen within 24 hours after phlebotomy and thawing fresh frozen plasma are creating business opportunities for product manufacturers.
Apart from platelets and blood plasma, companies are striving to unlock business opportunities in cord blood banking. For instance, Cytiva – a provider of services and technologies for the healthcare industry is increasing focus in minimizing errors in cord blood banking. The increasing adoption of umbilical cord processing with the help of cutting-edge software, instruments, and kits is broadening revenue streams for companies.
Growth Drivers
- Demand for blood transfusion from the growing geriatric population who is subject to various health conditions is fueling the blood thawing system market
- Increase in practice of use of thawed cells in the research and treatment of diseases, rise in the number of road accidents, and surge in surgical procedures globally are boosting market demand
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Key Findings of Study
Preference for Dry Plasma Thawing Products to Fuel Market Progress – Based on product type, the blood thawing system market is divided into wet plasma thawer and dry plasma thawer. The dry plasma thawer held prominent market share in 2019. This is ascribed to various advantages, such as reduced risk of bacterial infection as the plasma packs and operator’s hands remain dry.
GMP Compliant Formulations Overcome Drawbacks of DMSO in Cell Culture – Companies in the blood thawing system market need to overcome cryopreservation challenges. Shortcomings in cell culture processes are affecting innovations in cryopreservation techniques. Therefore, chemically defined and serum-free formulations are replacing dimethyl sulfoxide (DMSO) in cryopreservation processes.
The toxicity of residual DMSO is posing as a challenge in cryopreservation for cell culture. In this scenario, companies in the global market are increasing awareness about Good Manufacturing Practice (GMP) compliant formulations that have the potential to be less harmful for cell culture.
High Demand from Blood Banks to Boost Market Value – In terms of end user, the blood thawing system market is divided into transfusion centers, blood banks, pharmaceutical companies, hospitals & diagnostic laboratories, and others. The blood banks segment held a key share in 2019, as blood banks collect all donated blood and preserve for later use in blood transfusion. Increase in the number of blood donation camps and blood banks contribute to the increase in volume of blood storage in blood banks. This increases the need of blood thawing systems in blood banks.
Therapeutic Applications Fuel Demand for Blood Plasma – In terms of sample type, the blood thawing system market has been divided into RBCs, blood plasma, whole blood, platelets, and others. The blood plasma sample segment held the leading market share in 2019. The dominance of the segment is ascribed to high usage of blood plasma during surgeries and for treatment of diseases. Moreover, increase in incidence of road accidents, growth in geriatric population, and chronic diseases contribute to the growth of the segment.
Regional Landscape
The blood thawing system market in Asia Pacific is anticipated to witness robust growth during the forecast period. The region being home to world’s two most populous economies China and India, and Japan being. Asia Pacific is a geographic source of emerging infectious diseases, Large players are entering into collaborations with research teams from universities such as Singapore-MIT Alliance for Research and Technology.
North America held the leading share of blood thawing system market in 2019.
Competitive Analysis
The competition landscape in the blood thawing system market is consolidated, with the presence of a few large players. Key players are focused on expanding their product offerings and strengthening geographical presence in order to increase their market share.
Key Players in the blood thawing system market include Fremon Scientific Inc., Barkey GmbH & Co. KG, KW Scientific Appaaratus Srl, Cytiva (GE Healthcare), Thermo Fisher Scientific Inc., Helmer Scientific Inc., Boekel Scientific, Cardinal Health, Sarstedt AG & Co. KG, and Sartorius AG.
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The blood thawing system market is segmented as follows;
Global Blood Thawing System Market, by Product Type
- Dry Plasma Thawer
- Wet Plasma Thawer
Global Blood Thawing System Market, by Capacity
Global Blood Thawing System Market, by Sample Type
- Blood Plasma
- RBCs
- Platelets
- Whole Blood
- Others
Global Blood Thawing System Market, by End-user
- Blood Banks
- Transfusion Centers
- Hospitals & Diagnostic Laboratories
- Pharmaceutical Companies
- Others
Global Blood Thawing System Market, by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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