Blood Warmer Devices Market to grow at a CAGR of 7.1% during 2024-2028
The Blood Warmer Devices Market is expected to grow at a CAGR of 7.1% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 340.7 million. In the Blood Warmer Devices Market, vendors are strategically investing in advanced technology to boost market penetration. For instance, MEQU's April 2021 launch of a portable blood and IV fluid warmer, suitable for pre-hospital and military sectors, has gained significant traction due to its mobility, enabling usage in ambulances and home care settings. Another notable development is Belmont Medical's USD133 million US military contract for a five-year period, encompassing portable rapid blood infusers, military kits, and related consumables and accessories. These business strategies are anticipated to drive sales of blood warmer devices, thereby fueling the market's expansion throughout the forecast period.
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Technavio analysts predict that the Blankets and accessories subsegment will lead the Product segment during 2024 and 2028 The Blood Warmer Devices market is experiencing significant growth due to the increasing demand for patient comfort and safety during medical procedures. These devices maintain optimal blood temperature during surgeries and transfusions, enhancing patient outcomes and reducing complications. Market leaders are focusing on advanced technology and user-friendly designs to cater to this expanding market. The global Blood Warmer Devices market is projected to reach substantial growth in the forecast period.
Here are the various ways based on which the market is segmented:
There are several factors that are causing the market to flourish increasing prevalence of hypothermia
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The Blood Warmer Devices Market is witnessing significant growth due to the increasing demand for critical care integration in various settings, including point-of-care, neonatal care, obstetrics, and surgical interventions. The portability feature of these devices is another major factor driving the market, as they are increasingly being used in emergency situations, military operations, and ambulatory services. Blood transfusion services and patient care in hospitals and ambulatory surgical centers are major applications for blood warmer devices. These devices are essential for preventing hypothermia during surgical procedures and trauma cases, ensuring optimal surgical outcomes and patient safety. The market for blood warmer devices is also driven by the military demand for portable devices for use in extreme weather conditions and rescue forces. Hospitals and healthcare expenditure are significant contributors to the market, with non-portable and portable blood warmers, body warming devices, and patient heating systems being used extensively. The market for blood warmer devices is expected to grow further due to the increasing number of surgical procedures and road traffic accidents, which require immediate warming of blood and other fluids to maintain optimal body temperature. Overall, the blood warmer devices market is a critical component of patient care in various settings, offering significant benefits in terms of patient safety, surgical outcomes, and cost savings.
Technavio's market analysis encompasses the Blood Warmer Devices market as a segment of the expansive Global Healthcare Equipment Market. This market sector encompasses organizations involved in the research and development (R&D) of various product categories, such as capital equipment, instruments, implants, accessories, and consumables. These products are utilized in the diagnosis, monitoring, and treatment of numerous diseases. The Global Healthcare Equipment Market's size is determined by the consolidated revenue generated by manufacturers of diagnostic equipment and devices spanning diverse therapy areas. The healthcare equipment industry is segmented into Devices, which includes advanced, differentiated, and clinically tested data-driven devices, such as blood warmer devices.
The Blood Warmer Devices Market is experiencing significant growth, fueled by the increasing prevalence of hypothermia. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
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