Report : South & Central 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)
At 11.5% CAGR, the South & Central America Blood Temperature Market is speculated to be worth US$ 12.52 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the South & Central America Blood Temperature Indicator market was valued at US$ 5.99 million in 2021 and is expected to reach US$ 12.52 million by 2028, registering an annual growth rate of 11.5% from 2021 to 2028. The report provides trends prevailing in the South & Central 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 Middle East & Africa Blood Temperature Indicator market.
The trends in the healthcare industry are changing drastically with constant development in technology and innovation, enhancing healthcare services and quality of care. Various market players are operating and striving hard to acquire the largest market share. This has increased the accuracy of blood temperature indicators and safe and effector transportation and storage of blood. Market players are constantly working to develop advanced, more effective, and accurate blood temperature indicators. For instance, TimeStrip provider of smart indicator technology launched 2 new electronic temperature indicators. These indicators help monitor various products' safe transportation and storage, including pharmaceuticals, vaccines, and healthcare. These intelligent device monitors temperature data every minute with high accuracy. The standard temperature is 2-8ºC, but it offers wide temperature range as low as -30ºC or as high as 60ºC.
Furthermore, increasing demand for real-time monitoring, increased use of sensors, NFC, the Internet of things, and others in blood temperature indicators are expected to support the market growth. Additionally, there is a rising demand for smart indicators and increased integration of various software and cloud-based monitoring to ensure the proper storage and transportation of blood and its components. Moreover, increased use of digital technology and LEDs for better display is expected to propel market growth over the forecast period. Thus, technological advancement and product developments are expected to fuel the growth of the blood temperature indicator market.
However, issues associated with increasing incidence of false results to blood temperature indicator the growth of South & Central America Blood Temperature Indicator market.
Based on product type the South & Central America 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 44.5% market share in 2021, amassing US$ 5.39 million. It is projected to garner US$ 11.88 million by 2028 to expand at 11.9% CAGR during 2021–2028.
Based on end-user the South & Central America Blood Temperature Indicator market segmented into hospitals, blood banks, and others. The hospitals segment held 42.2%market share in 2021, amassing US$ 5.11 million. It is projected to garner US$ 11.28 million by 2028 to expand at 12.0%CAGR during 2021–2028.
Based on country, the South & Central America Blood Temperature Indicator market segmented into Brazil,
Argentina, and Rest of SAM. Our regional analysis states that US captured 49.43% market share in 2021. It was assessed at US$ 5.99 million in 2021 and is likely to hit US$ 12.52 million by 2028, exhibiting a CAGR of 11.1% during the forecast period. .
Key players dominating the South & Central America Blood Temperature Indicator market are Elitech, THERMO FISHER SCIENTIFIC INC, Sercalia, Ellab Group, Zebra Technologies Corporation, 3M, Deltatrak Inc and Timestrip UK LTD are among the leading companies in the South & Central America Blood Temperature Indicator market.
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