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Automated Devices Set to Transform the European Blood Banking Devices Markets - The traditional way of collecting blood is through blood bags and their integrated accessories. However, automated alternatives such as apheresis and autologous devices and disposables are steadily gaining in use
Automated Devices Set to Transform the European Blood Banking Devices Markets

 

NewswireToday - /newswire/ - London, United Kingdom, 2008/04/30 - The traditional way of collecting blood is through blood bags and their integrated accessories. However, automated alternatives such as apheresis and autologous devices and disposables are steadily gaining in use.

   
 
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The transition is expected to be gradual, suggesting that manual devices will maintain their prominence for the next ten years.

New analysis from Frost & Sullivan (medicaldevices.frost.com), European Blood Banking Devices Markets, finds that this markets earned revenues of $422.6 million in 2006 and estimates this to reach $428.3 million in 2013.

"In order to respond to the growing concerns related to health and safety issues in blood and blood-derived products, the blood banking devices market is continuously launching innovative technology," notes Frost & Sullivan Research Analyst, Kieu Vuong. "The transition from manual to automated devices is poised to transform the entire landscape and growth pattern of the blood banking devices industry."

Sales of automated blood banking devices are growing at the expense of manual collection devices. This will lead to a slight overall growth of the blood banking devices markets. At the same time, the strong performance of biotech and pharmaceutical markets will also spur the blood banking industry. The high number of cases that require blood or blood-derived products for therapeutic use will help maintain a steady demand for blood banking devices.

However, several factors will hamper market expansion. One of the biggest challenges for suppliers of blood banking devices is the consolidation among end users. This provides them with higher purchasing power and places them in a position to pressurise companies' product pricing strategies. This, in turn, will erode manufacturers' profit margins.

Another challenge the industry faces is the cautious attitude of end users towards product innovation, making it difficult for companies to create new revenue streams.

"The high bargaining power of the few end users in this market threatens the revenue flows of manufacturers and distributors, and thereby, the potential expansion of the blood banking devices industry," explains Vuong. "Furthermore, countries are striving to achieve self-sufficiency in blood and blood products, despite continued blood supply shortages caused by a decreased donor pool and stricter donor criteria."

Currently, this market is characterised by one rapidly declining and two modestly growing segments, resulting in subdued overall market growth. Consequently, companies are being compelled to maintain their market share in the manual devices segment while developing their competitiveness in the highly promising automation segment.

"The competitive landscape is very concentrated with only a handful of suppliers and end users actively involved in the market," notes Vuong. "Many suppliers have exited the market while others have implemented several strategies at the corporate level. Introducing new features in blood bags and their integrated accessories will potentially help overcome price erosion and advance product development with regard to automation. This will accelerate the widespread uptake of such products."

If you are interested in a virtual brochure, which provides manufacturers, end users and other industry participants with an overview of the European blood banking devices markets, then send an email to Patrick Cairns, Corporate Communications, at pcairns_pr[.]frost.com, with your full name, company name, title, telephone number, company email address, company website, city, state and country. Upon receipt of the above information, an overview will be sent to you by email.

European Blood Banking Devices Markets is part of the Medical Devices Growth Partnership Services Programme, which also includes research in the following markets: cardiovascular, wound care, surgical, orthopaedic and others. All research included in subscriptions provide detailed market opportunities and industry trends that have been evaluated following extensive interviews with market participants. Interviews with the press are available.

Frost & Sullivan, the Global Growth Consulting Company, partners with clients to accelerate their growth. The company's Growth Partnership Services, Growth Consulting and Career Best Practices empower clients to create a growth focused culture that generates, evaluates and implements effective growth strategies. Frost & Sullivan employs over 45 years of experience in partnering with Global 1000 companies, emerging businesses and the investment community from more than 30 offices on six continents.

European Blood Banking Devices Markets M1FA

 
 
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Automated Devices Set to Transform the European Blood Banking Devices Markets

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Publisher Contact: Patrick Cairns 
+27 18 468 2315 patrick.cairns[.]frost.com
 
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