The blood warmer devices/sample warmers market is expected to reach USD 225.6 Million by 2022 from USD 150.4 Million in 2017, at a CAGR of 8.4%. Factors driving the growth of this market include the rising incidence of cancer, growing healthcare expenditure, improving infrastructure for cancer diagnosis, and technological advancements in blood warmer devices/sample warmers.
The blood warmer devices market is consolidated in nature due to the presence of a large number of players. The key players in the market are 3M (US), Smiths Medical (US), BD (US), The 37Company (Netherlands), Geratherm Medical (Germany), and Stryker (US).
The key strategy followed by most companies in the blood warmer devices market are product launches, acquisitions, and partnerships. These strategies accounted for the largest share of the overall growth strategies mapped from 2015 to 2017. Some of the leading players who adopted this strategy.
Smiths is one of the leading players in the blood warmer devices market. The company is engaged in developing, manufacturing, marketing, and selling medical devices and consumables. It primarily pursues the strategy of product launches, in order to increase its share in the blood warmer devices market. For instance, in 2014, the company launched the HOTLINE Liquid Warmer. This launch helped the company to increase its offerings in the sample warming systems market.
BD operates through the US, Europe, EMA, Greater Asia, Latin America, and Canada. The company focuses on inorganic growth strategies such as acquisition to strengthen its product portfolio and market position. For instance, in March 2015, BD acquired CareFusion (US) to enhance its presence in the blood warming systems market.
Geratherm Medical is a leading player in the blood warmer devices market. The company operates in more than 60 countries including Germany, the US, and countries across Europe, South America, Asia, Africa, and the Middle East. The company operates in four major segments-healthcare diagnostics, respiratory, medical warming systems, and cardio/stroke. The company focuses on inorganic strategies such as acquisitions to grow in the market. In September 2014, Geratherm Medical acquired LMT Medical Systems (Germany) to expand its warming systems segment.
Blood Warmer Devices/Sample Warmer Market by Sample (Blood, Embryo, Ovum, Semen), End User (Hospital, Blood Bank, Transfusion Center, Tissue Bank), Region (North America, Europe, Asia Pacific) - Global Forecast to 2022
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