Blood Temperature Indicator Market for the 2°C to 4°C Segment to Grow Significantly During 2021-2028

According to our new research study on "Blood Temperature Indicator Market Forecast to 2028 - COVID-19 Impact and Global Analysis - by Product Type and End User," the market is expected to grow from US$ 216.05 million in 2021 to US$ 504.37 million by 2028; it is estimated to grow at a CAGR of 12.9% from 2021 to 2028. The report highlights trends prevailing in the market and factors driving the blood temperature indicator market growth. An increase in blood transfusion and blood donation and the accuracy of blood temperature indicators are expected to boost the overall blood temperature indicator market revenue during the forecast period. However, the increasing incidence of false results limits the market growth.

Blood temperature indicators are small medical devices or solutions that help increase blood safety by effectively and efficiently transporting blood and blood components. These indicators provide auditable proof that blood is stored and transported as per regulatory standards, which further reduces blood waste.

The accuracy of blood temperature indicators helps in easy and effective transportation of blood and its components, further eliminating viability testing. These indicators play an important role in the cold chain by ensuring the correct temperature during blood storage and transportation. The indicators are specially designed to notify the breach of blood temperatures by changing color, light-emitting diodes (LEDs), or via an alarm. The growing demand for blood supply and prioritizing its safety create demand for blood temperature indicators.

Blood banks are opting for irreversible blood temperature indicators, which assist blood banks and storage units in receiving the unused blood from hospitals. These indicators display the storage condition of blood during transportation which determines the viability and allows its use by reissuing the same blood to another patient. Further, blood waste prevention and the rising demand for effective transportation and storage of blood and its components create demand for blood temperature indicators. According to the Ministry of Health and Family Welfare, 1 billion units of blood are discarded in India every year due to poor storage facilities. Moreover, increasing demand for effective storage and transportation of blood and accuracy of blood temperature boost the market growth. The increasing adoption of single-use and irreversible indicators is expected to contribute to the market growth. Furthermore, the use of near field technology (NFC) and phase change technology increases the accuracy of indicators that drive the blood temperature indicator market growth.

Based on the product type, the 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 the largest market share in 2021, and it is expected to dominate the market during the forecast period. The blood temperature indicator that indicates blood temperature ranging from 2°C to 4°C is mostly used during long route transportation of blood. Blood is a biological material, and it is vital to keep it in a cold environment to preserve the viability feature and improve the hematologic condition of the patient. The storage and carriage of the red blood cells (RBCs) out of the standard temperature range leads to some biochemical reactions. These biochemical reactions reduce the blood's oxygen-carrying capacity. Therefore, blood temperature indicators are primarily used to ensure safe and hygienic blood transfusion. For instance, as per major European and American guidelines, the temperature of RBC bags must range from 1°C to 6°C while storing it, and from 1°C to 10°C while carrying. Hence, the blood temperature indicators ranging from 2°C to 4°C are mainly used in blood banks where blood storage takes place. Moreover, blood temperature also plays a crucial role in managing the health of patients suffering from high blood pressure, diabetes, and cardiovascular disorders.

Elitech, Thermo Fisher Scientific Inc., Sercalia, Ellab Group, Zebra Technologies Corporation, LisaLine Lifesciences Technologies, Stream Peak International Pte Ltd., 3M, Deltatrak Inc., and TimeStrip UK Ltd. are among the leading companies in the blood temperature indicator market.

The report segments the blood temperature indicator market as follows:

The blood temperature indicator market is segmented on the basis of product type, end user, and geography. Based on product type, the market is segmented into 2°C to 4°C, 5°C to 7°C, and above 7°C. Based on end user, the market is segmented into hospitals, blood banks, and others. By geography, the global blood temperature indicator market is segmented into North America (the US, Canada, and Mexico), Europe (France, Germany, the UK, Spain, Italy, and the Rest of Europe), Asia Pacific (China, India, Japan, Australia, South Korea, and the Rest of APAC), the Middle East & Africa (Saudi Arabia, the UAE, South Africa, and the Rest of MEA), and South & Central America (Brazil, Argentina, and the Rest of SAM).

Contact Us
Contact Person: Sameer Joshi
Phone: +1-646-491-9876
Email Id: sales@premiummarketinsights.com