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The global autotransfusion device market size was USD 1.12 Billion in 2022 and is expected to reach a value of USD 1.87 Billion in 2032 with a CAGR of 5.8%

NEW YORK CITY, NY, UNITED STATES, July 10, 2023/EINPresswire.com/ -- The global Autotransfusion Device Market, with a size of USD 1.12 Billion in 2022, is projected to reach USD 1.87 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 5.8% during the forecast period. The growth of market revenue can be attributed to several factors, including the increasing prevalence of chronic diseases, the growing demand for autotransfusion devices in surgical procedures, and the rising acceptance of autologous blood transfusion.

The worldwide incidence of chronic conditions such as cancer, cardiovascular disease, and orthopedic disorders is on the rise. These ailments often require surgical interventions that result in significant blood loss, necessitating the need for blood transfusions. Autotransfusion devices help mitigate the risks associated with blood transfusions, such as infection transmission, allergic reactions, and transfusion-related acute lung injury (TRALI). Consequently, the increasing prevalence of chronic diseases is expected to drive the demand for autotransfusion devices and contribute to the expansion of market revenue.

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Furthermore, autotransfusion devices are commonly utilized in various surgical procedures, including organ transplants, orthopedic surgeries, and heart surgeries. The growth in the number of surgeries and the wider adoption of autotransfusion devices are anticipated to foster the development of market revenue. The World Health Organization estimates that around 313 million surgical procedures were performed globally in 2012, with an annual increase of 4-5% projected in the coming years.

Segments Covered in the Report –

• The autotransfusion device market can be categorized based on product types and end-use outlooks.

• In terms of product types, the market includes blood salvage systems, intraoperative autotransfusion systems, and postoperative autotransfusion systems. Blood salvage systems are designed to collect and process the patient's own blood lost during surgery, allowing it to be reinfused back into the patient's body. Intraoperative autotransfusion systems are specifically used during the surgical procedure to collect and return the patient's blood, minimizing the need for allogeneic transfusions. Postoperative autotransfusion systems are employed after the surgery to collect and reinfuse the patient's blood from surgical drains, reducing the reliance on external blood sources.

• In terms of end-use outlook, the market serves hospitals, ambulatory surgical centers, and specialty clinics. Hospitals are the primary users of autotransfusion devices due to the high volume of surgical procedures conducted in these facilities. Autotransfusion devices play a crucial role in managing blood loss during surgeries, making them essential in hospital settings. Ambulatory surgical centers, which focus on same-day surgical procedures, also utilize autotransfusion devices to support blood management and minimize the need for allogeneic transfusions. Specialty clinics, specialized healthcare facilities catering to specific medical conditions, also incorporate autotransfusion devices to meet the unique needs of their patients during surgical interventions.

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Strategic development:

• In 2021, the FDA granted approval to Haemonetics Corporation for its TEG 6s Hemostasis Analyzer System. This innovative device enables real-time measurement of blood clotting factors. Its application in autotransfusion procedures is expected to be highly advantageous as it assists clinicians in determining the optimal timing for reintroducing the patient's own blood.

• In 2020, Medtronic completed the acquisition of Avenu Medical, a medical device company renowned for its expertise in developing minimally invasive devices. The primary objective behind this acquisition was to broaden Medtronic's product portfolio within the autotransfusion market, ensuring a more comprehensive range of offerings to healthcare professionals and patients.

• In the same year, Fresenius SE & Co. KGaA announced its acquisition of NxStage Medical, a specialized medical device company focused on home hemodialysis and Peritoneal Dialysis. This strategic move was aimed at expanding Fresenius' product offerings within the autotransfusion market, enabling them to cater to a wider range of patient needs and strengthen their position in the industry.

• Terumo Corporation unveiled its latest autotransfusion device, the Terumo Advanced Perfusion System 1, in 2019. This state-of-the-art device features an advanced compact design and cutting-edge technology for blood collection and processing. Its versatility makes it suitable for a wide array of surgical procedures, further enhancing the options available to medical professionals and optimizing patient care.

Competitive Landscape:

In the fiercely competitive global autotransfusion device market, prominent companies engage in strategic initiatives, product innovation, and mergers & acquisitions to secure their market share. Key players in the industry include Haemonetics Corporation, LivaNova PLC, Terumo Corporation, Fresenius SE & Co. KGaA, Medtronic, Atrium Medical Corporation, Advancis Surgical, and Redax S.p.A.

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These companies strive to stay at the forefront of the market by developing cutting-edge technologies and expanding their product portfolios. Through their strong presence and continuous efforts, these major players contribute to the growth and development of the autotransfusion device market worldwide.

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