Blood Temperature Indicator Market

Blood Temperature Indicator Market Outlook (2022 to 2032)

The global blood temperature indicator market size reach USD 210 Million in 2021. The sales of blood temperature indicators are estimated to total USD 235 Million by 2022, increasing at an impressive CAGR of nearly 12% to 13% during the assessment period 2022 to 2032.

Driven by the growing emphasis on the development of more precise and accurate medical temperature assessing devices, the demand for blood temperature indicators is expected to exceed USD 600 Million by the end of 2032.

Report Attribute	Details
Blood Temperature Indicator Market Base Year Value (2021)	USD 210 Million
Blood Temperature Indicator Market Expected Value (2022)	USD 235 Million
Blood Temperature Indicator Market Anticipated Value (2032)	USD 600 Million
Blood Temperature Indicator Market Projected Growth Rate (2022 to 2032)	12% to 13% CAGR

Blood temperature indicators are medical devices that are directly attached to blood bags for real-time measurement of temperature during storage, handling, and transportation operations. The demand for these devices is rapidly increasing across the medical & healthcare sector, owing to their ability to ensure consistent analysis & recording of blood temperature.

What are the Key Drivers Accelerating the Blood Temperature Indicator Market Growth?

The prevalence of blood-related diseases such as blood cancer, sickle cell disease, thrombocytopenia, and anemia among others is rapidly increasing across the globe, due to increasing smoking, exposure to hazardous chemicals such as benzene, and radiation exposure.

For instance, according to a study by the Leukemia & Lymphoma Society, around 9.8% of the total cancer cases, or nearly 186,400 people across the USA were estimated to be diagnosed with blood cancer in the year 2021.

Due to this growing burden, there is a swift rise in demand for blood and blood components for the treatment of these above-mentioned diseases. As blood temperature indicators are extensively used across blood banks and blood collection centers for assessing the temperature of the blood and determining the blood quality, increasing burden of such diseases is projected to bolster the sales in the global market.

Which are Major Restraints Causing Hindrance for the Sales of Blood Temperature Indicator in the Market?

There are a number of benefits associated with the use of blood temperature indicators. However, growing concerns regarding the use of plastics and presence of a stringent regulatory framework for introduction of novel medical products across prominent regions is hampering the growth in the blood temperature indicators market.

Why Does North America Account for the Maximum Share in the Global Blood Temperature Indicator?

Future Market Insights reveals that North America is estimated to emerge as the most lucrative market for blood temperature indicators from 2022 to 2032.

With growing focus on preserving the appropriate temperature of blood bags during storage & transportation for maintaining the quality of blood, the demand for blood temperature indicators is swiftly increasing. Hence, prominent manufacturers are focusing on adoption merger & acquisition strategies to expand their product portfolio for capitalizing on the increasing demand.

For instance, in 2019, Zebra Technologies, an American provider of real-time monitoring solutions announced the acquisition of a manufacturer of temperature monitoring solutions, Temptime Corporation, for expanding its product portfolio of medial temperature indicating devices. Such developments are expected to facilitate the growth in the North America market.

What is the Demand Outlook for Blood Temperature Indicator in the South Asia Market?

South Asia is expected to account for a significant share in the global blood temperature indicators market during the forecast period 2022 to 2032, states FMI.

As the incidence of road accidents and burden of blood-related diseases continues to rise, a substantial increase blood transfusion activities is being witnessed across Asia Pacific. This is creating strong demand for blood & blood components, and associated medical devices.

For instance, according to the Friends2support Organization, approximately 50 Million units of blood are needed every year and around 30 Million units of blood components are transfused each year across India. Since blood temperature indicators are used on almost every blood bag, growing demand for blood is projected to favor the growth in the South Asia market.

Market Competition

Some of the leading players in the blood temperature indicator market are Temptime Corporation, Zebra Technologies, Elitech, Timestrip UK Ltd., Hanwell Solutions Ltd., Lisaline Lifescience Technologies Pvt. Ltd., and others.

Attributed to the increasing product launches with advanced connectivity and multi-functional features and growing adoption of merger & acquisition strategies, the market is highly competitive.

Report Scope

Report Attribute	Details
Growth Rate	CAGR of 12% to 13% from 2022 to 2032
Base Year for Estimation	2021
Historical Data	2015 to 2020
Forecast Period	2022 to 2032
Quantitative Units	Revenue in USD Billion, Volume in Kilotons and CAGR from 2022 to 2032
Report Coverage	Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis
Segments Covered	Material, Threshold Temperature Range, End Use, Region
Regions Covered	North America; Latin America; Europe; East Asia; South Asia; Oceania; Middle East and Africa
Key Companies Profiled	Temptime Corporation; Zebra Technologies; Elitech; Timestrip UK Ltd.; Hanwell Solutions Ltd.; Lisaline Lifescience Technologies Pvt. Ltd.; Others
Customization	Available Upon Request

Key Segments Profiled in the Blood Temperature Indicator Market Survey

By Material:

• Polypropylene (PP)
• Polyethylene (PE)
• Others

By Threshold Temperature Range:

• Up to 2°C
• 2°C to 4°C
• 5°C to 7°C
• Above 7°C

By End Use:

• Hospitals
• Clinics
• Blood Banks
• Blood Collection Centers
• Diagnostics Lab
• Others

By Region:

• North America
• Latin America
• Europe
• East Asia
• South Asia
• Oceania
• Middle East and Africa

Frequently Asked Questions

What is the sales forecast for blood temperature indicator in the global market until 2032?

FMI projects the sales of blood temperature indicator in the market is expected to rise at 12% to 13% value CAGR by 2032

Which region is forecast to be the most lucrative for blood temperature indicator market growth?

The global blood temperature indicator market is expected to be dominated by North America the forecast period 2022 to 2032.

Which are some leading blood temperature indicator manufacturers?

Temptime Corporation, Zebra Technologies, Elitech, Timestrip UK Ltd., Hanwell Solutions Ltd., Lisaline Lifescience Technologies Pvt. Ltd., and others are some of the leading players in the prominent blood temperature indicator market.