Blood Collection Devices Market Worth Nearly $14 Billion by 2030 – Exclusive Report by The Insight Partners
The global blood collection devices market is dominated by blood collection tubes segment during 2022 to 2030.
Pune, India, Oct. 23, 2023 (GLOBE NEWSWIRE) — Blood collection devices help in safe withdrawal of blood. Blood is collected from donor to perform various diagnostic tests. Needles & Syringes, and lancets and other devices are used for arterial and venous blood collection. Arterial blood collection has various advantages such as arterial blood gas sampling, and intraoperative blood salvage.
According to our new research study on “Blood Collection Devices Market Forecast to 2030 – Global Analysis –Product, Method, and End User,” the blood collection devices market size is expected to reach $14.02 billion by 2030 from $8.71 billion in 2022; the market is estimated to record a CAGR of 6.1% from 2022 to 2030. The major factors driving the blood collection devices market growth include the increase in the prevalence of cancer worldwide and surge in demand for minimally invasive diagnostic tests.
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Global Blood Collection Devices Market – Report Scope:
|Market Size Value in||USD 8.71 Billion in 2022|
|Market Size Value by||USD 14.02 Billion by 2030|
|Growth rate||CAGR of 6.1% from 2022 to 2030|
|No. of Pages||176|
|No. of Tables||112|
|No. of Charts & Figures||58|
|Historical data available||Yes|
|Segments covered||Product, Method, and End User|
Global Blood Collection Devices Market: Competitive Landscape and Key Developments
Becton Dickinson and Co, Terumo Corp, Cardinal Health Inc, SARSTEDT AG & Co KG, Nipro Corp, Thermo Fisher Scientific Inc, Sekisui Chemical Co Ltd, Greiner Bio-One International GmbH, FL Medical SRL, and IntervacTechnology OU are among the key companies operating in the blood collection devices market. Leading market players are adopting strategies such as the launch of new products, expansion and diversification of market presence, and acquisition of new customer bases for tapping business opportunities prevailing in the market.
In May 2022, Babson Diagnostics, a science-first healthcare technology company, and BD, a leading global medical technology company, expanded the strategic partnership to move blood sample collection into new care settings, including enabling patients to collect blood samples at home for diagnostic testing.
In April 2021, Greiner Bio-One launched the VACUETTE line, the innovative Evoprotect Safety Blood Collection Set. It meets the requirements of the EU Directive 2010/32. It is an innovative safety mechanism that can be conveniently activated while the needle is in the vein and protects blood collection staff against potential injuries.
In June 2020, BD obtained the CE mark in Europe for the BD Vacutainer UltraTouch Push Button Blood Collection Set (BCS) with a pre-attached holder, which is being launched in the US.
North America holds the largest share of the blood collection devices market, with the US, Canada, and Mexico being the major contributors to the market growth in this region. The US has a well-developed healthcare sector equipped with highly advanced equipment and instruments. The country is experiencing increasing incidences of chronic diseases [such as acute kidney injury (AKI)] and multiple organ dysfunction syndromes or sepsis, which is likely to favor the growth of the blood collection devices market. According to the report “Chronic Kidney Disease in the United States, 2023” by the Centers for Disease Control and Prevention, 14% of ~35.5 million people in the US suffer from chronic kidney disease (CKD). Furthermore, 9 in 10 people are not aware that they are suffering from CKD. Hypertension, heart disease, diabetes, and obesity are the causes of CKD. Thus, with the growing incidences of high blood pressure, heart disease, diabetes, and obesity, the demand for blood samples for diagnostics and research purposes increases in the US, which propels the blood collection devices market growth in North America.
Surge in Demand for Minimally Invasive Diagnostic Tests Propels Global Blood Collection Devices Market Growth:
Minimally invasive sampling techniques, such as capillary blood sampling, are routinely used for point-of-care testing in the home healthcare setting and clinical settings, such as the ICU, providing less pain and wounding than conventional venipuncture. There is a growing preference for minimally or noninvasive tests among patients for diagnostic purposes. Early cancer detection, tumor monitoring throughout treatment, mutation detection, and recurrence monitoring are possible using liquid biopsy and capillary blood sampling, which uses a noninvasive blood sample. Researchers can trace all genetic changes and epigenetics in solid tumors with a blood test, which is a simple and noninvasive technique. Patients select minimally invasive procedures for the advanced instruments used in the procedures, which allow for more complex and delicate work to be executed with less pain, lower risk, and less scarring.
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Due to the advancements in technology in terms of feasibility and processing times, the blood collection procedure has recently attracted considerable interest as a noninvasive alternative. A blood test is a painless and noninvasive procedure that also reduces the cost and time it takes to diagnose a problem. A blood test is a simple alternative to surgical biopsies that allows doctors to discover information about tumors from a simple blood sample. Hence, the surge in demand for minimally invasive or noninvasive diagnostic tests fuels the global blood collection devices market growth.
Global Blood Collection Devices Market – Segmentation Overview:
Based on product, the blood collection devices market is segmented into blood collection tubes, blood collection needles/holders, blood collection sets, and others. The blood collection tube segment is further bifurcated into evacuated blood collection tubes and micro-collection tubes. In 2022, the blood collection tubes segment held the largest share of the market. The same segment is anticipated to register the highest CAGR during the forecast period. Blood collection tubes are specimen-collecting containers used to collect the desired quantity of the blood sample. These tubes are pre-sterilized containers with closure caps. There are different varieties of blood collection tubes based on the content in the tubes, such as anticoagulants, stabilizers, enzymes, and other reagents. The collecting tubes are available in the market in different cap color codes, such as blue, red, gold, green, lavender, pink, and gray, depending on the additive in the tube and the type of test procedure.
Based on method, the global blood collection devices market is bifurcated into manual blood collection and automatic blood collection. The manual blood collection segment held a larger market share in 2022. However, the automated blood collection segment is anticipated to register a higher CAGR during the forecast period. The manual blood collection method is the primary and oldest blood collection method. In this method, the venous blood vessel is punctured with the help of a blood collection needle attached to a blood collection tube. This method can be executed by trained and skilled professionals, as there is high risks of injuries in this method due to incorrect administration of needles.
Go through further research published by The Insight Partners:
Vacuum Blood Collection Tube Market – Global Analysis and Forecast to 2028
Blood Banking Devices Market – Global Analysis and Forecast to 2028
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