Report : Asia Pacific Blood Temperature Indicator Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Product Type (2°C to 4°C, 5°C to 7°C, and above 7°C), and End-User (Hospitals, Blood Banks, and Others)
Asia Pacific Blood Temperature Indicator Market Forecast to 2028 - COVID-19 Impact and Analysis– by Product Type (2°C to 4°C, 5°C to 7°C, and above 7°C), and End-User (Hospitals, Blood Banks, and Others)
2°C to 4°C Segment to Dominate Asia Pacific Blood Temperature Indicator market forecast to 2028 during 2019–2028
According to Business Market Insights’ research, the Asia Pacific Blood Temperature Indicator market was valued at US$ 37.46 million in 2021 and is expected to reach US$ 90.23 million by 2028, registering an annual growth rate of 13.4% from 2021 to 2028. The report provides trends prevailing in the Asia Pacific Blood Temperature Indicator market along with the drivers and restraints pertaining to the market growth. Increase in blood transfusion and donation is the major factor driving the growth of the Asia Pacific Blood Temperature Indicator market.
Over time, various government and non-government organizations create awareness among people regarding blood donation to fulfill the increasing demand for blood. Increase in blood demand has led to the development of efficient blood cold chain to ensure safe and efficient blood transportation. These indicators are available in the form of stickers applied to blood bags and activated for constant monitoring. Different technologies are used in these indicators that allow effective storage and transportation and avoid the wastage of blood and its components. Moreover, a surge in blood banks and increasing awareness regarding blood temperature indicators are expected to create ample opportunities.
Furthermore, increasing demand for effective blood cold chains in developing economies to reduce blood waste is expected to create ample opportunities over the forecast period. As per Print India, every year around 6.5 lakhs units of blood and blood components are wasted in India and cannot be used for transfusion. The increasing demand for blood supply has created the need for an efficient blood cold chain in developing economies, leading to the high adoption rate of blood temperature indicators and expected to create ample opportunities in the market.
However, issues associated with increasing incidence of false results to Blood Temperature Indicator the growth of Asia Pacific Blood Temperature Indicator market.
Based on product type the Asia Pacific Blood Temperature Indicator market is segmented into 2°C to 4°C, 5°C to 7°C, and above 7°C. The 2°C to 4°C segment held 45.5% market share in 2021, amassing US$ 17.04 million. It is projected to garner US$ 42.12 million by 2028 to expand at 13.8% CAGR during 2021–2028.
Based on end-user the Asia Pacific Blood Temperature Indicator market segmented into hospitals, blood banks, and others. The hospitals segment held 41.7% market share in 2021, amassing US$ 15.63 million. It is projected to garner US$ 38.76 million by 2028 to expand at 13.9% CAGR during 2021–2028.
Based on country, the Asia Pacific Blood Temperature Indicator market segmented into China, Japan, India, South Korea, Australia and Rest of Asia Pacific. Our regional analysis states that China captured 26.30% market share in 2021. It was assessed at US$ 9.85 million in 2021 and is likely to hit US$ 24.46 million by 2028, exhibiting a CAGR of 13.9% during the forecast period. .
Key players dominating the Blood Temperature Indicator market are Elitech, THERMO FISHER SCIENTIFIC INC,Sercalia, Ellab Group, Zebra Technologies Corportion, 3M, Deltatrak Inc and Timestrip Uk LTD are among the leading companies in the Asia Pacific Blood Temperature Indicator market.
The Asia Pacific Blood Temperature Indicator market, By Country, 2021 and 2028 (%)
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