Report : North America 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)
2°C to 4°C Segment to Dominate North America Blood Temperature Indicator market forecast to 2028 during 2019–2028
According to Business Market Insights’ research, the North America Blood Temperature Indicator market was valued at US$ 94.31 million in 2021 and is expected to reach US$ 224.55 million by 2028, registering an annual growth rate of 13.2% from 2021 to 2028. The report provides trends prevailing in the North America 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 North America Blood Temperature Indicator market.
Blood transfusion is one of the commonly used procedures in healthcare, which helps maintain the blood level of patients. There are various chronic conditions, surgical procedures, and trauma cases which require blood transfusion so that patients can survive without any side effects due to low blood levels. Conditions including thalassemia, blood cancer, sickle cell anemia, anemia, and surgical and trauma cases lead to blood loss and require a blood transfusion. According to the American Red Cross organization, ~16 million blood components are transfused each year in the US. Sickle cell anemia affects 90,000‒100,000 people in the US; approximately 1,000 babies are born with this disease each year. Thus, the increasing prevalence of chronic diseases has created the demand for blood transfusion, which is expected to propel the growth of the blood temperature indicator market.
Over time, there has been a constant increase in the demand for blood transfusion due to the high prevalence rate of diseases, followed by the surge in blood donation. Various government and non-government organizations create awareness among people regarding blood donation to fulfill the increasing demand for blood. In association with World Health Organization, Pan American Health Organization conducts a blood donation campaign on 14 June every year, celebrated as world blood donor day. Therefore, increased public awareness led to increased blood donation globally. As per World Health Organization (WHO), in 2020, ~118.4 million blood donations were collected worldwide. 40% of which were collected in high-income countries, home to 16 % of the world’s population.
After collection, blood should be stored and transported under specific conditions and temperatures. If the blood is stored and transported outside the specific temperature for long, it loses its ability to carry oxygen which can cause serious problems. There is a risk of severe bacterial contamination if the blood is exposed to warm temperatures. Blood temperature indicators play an important role in maintaining the required conditions and temperature for the safe and reliable transportation of blood and its components. It reduces the chances of blood spoilage by closely monitoring the temperature and assists in keeping the blood safe during transportation. Thus, increasing blood transfusion, blood donation, and rising demand for safe transportation of blood and its component creates demand for blood temperature indicators and drives the market growth.
However, issues associated with increasing incidence of false results to Blood Temperature Indicator the growth of North America Blood Temperature Indicator market.
Based on product type the North America Blood Temperatre 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 43.7% market share in 2021, amassing US$ 41.17 million. It is projected to garner US$ 100.73 million by 2028 to expand at 13.6% CAGR during 2021–2028.
Based on end-user the North America Blood Temperature Indicator market segmented into hospitals, blood banks, and others. The hospitals segment held 41.3% market share in 2021, amassing US$ 38.92 million. It is projected to garner US$ 95.40 million by 2028 to expand at 13.7% CAGR during 2021–2028.
Based on country, the North America Blood Temperature Indicator market segmented into US, Mexico, Canada. Our regional analysis states that US captured 84.51% market share in 2021. It was assessed at US$ 79.70 million in 2021 and is likely to hit US$ 193.00 million by 2028, exhibiting a CAGR of 13.5% 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 North America Blood Temperature Indicator market.
The North America Blood Temperature Indicator market, By Country, 2021 and 2028 (%)
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