Blood Warmers Market Growth & Trends
The global blood warmers market size is anticipated to reach USD 2.0 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 8.4% from 2022 to 2030. Rising incidences of road accidents, mishaps and other injuries, rising burden of hypothermia cases along with growing demand for blood warmers from ambulatory services and military/defense sectors, operating in extreme temperature environments are expected to propel the market demand for such devices over the forecast period.
Over the recent past, the COVID-19 pandemic has been associated with surges in hospitalization globally, this is expected to have a positive impact on the market. The demand for infusion therapy surged significantly during this period. This is one of the key factors driving up demand for blood warmer devices, which are used to raise fluids to body temperature, speed up patient recovery, and reduce the danger of transfusion shock.
Moreover, various manufacturers are adopting strategies such as mergers and acquisitions, partnerships, and product launches to strengthen their foothold in the market. For instance, in December 2020, Danish MedTech Company MEQU released the Power Pack, a new battery for its M Warmer System, a compact blood and IV fluid-warming systems. The system is commonly used in prehospital emergency settings. Such product launches are expected to propel the market over the forecast period.
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Blood Warmers Market Report
Blood Warmers Market Report Highlights
- Based on product, non-portable blood warmers segment held the largest market share of 55.47% in 2021. The increasing rate of hospitalization rising aging population, and improving financing for healthcare infrastructure in developing economies are all likely to propel this segment growth
- In end-use scope, the hospital-based segment dominated the market with a share of 65.45% in 2021. Blood warmers are commonly employed in hospitals because they can heat a larger volume of blood or IV solutions while also being more affordable & easier to maintain
- North America dominated the blood warmers market and accounted for the highest revenue share of 40.7% in 2021, owing to the increase in the number of surgical procedures/hospital visits, presence of well-established healthcare infrastructure, and favorable reimbursement in the healthcare sector
