This MRFR Market Perspective Examines the Historical Trends and Current Scenario of the “Global Capillary Blood Collection Devices Market” to Deliver a Highly Pertinent Growth Forecast. The primary objective of the report is to deliver Industry insights, market facts and relevant data that will allow report users to make informed decisions and device growth strategies.
Capillary Blood Collection Devices Market – Synopsis
Global Capillary Blood Collection Devices Market is expected to grow at a CAGR of 10.0% during the forecast period 2018–2023. Blood Collection for sampling plays a vital role in the efficiency of patient treatment in hospitals, and diagnostic centers around the world.
Blood sample collection procedure includes a chain of events, and every portion of this sequence is highly important to maintain high-quality clinical results. Earlier, capillary blood collection was specifically used to obtain blood from infants for genetic screening.
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However, capillary blood testing is also recommended for old age patients, burn victims, patients with damaged veins, patients with arms in casts, chemotherapy and obese patients. It is noted that favorable medical device regulation is the key factor driving the capillary blood collection devices market. Regulation of medical device must be enhanced and improved to safeguard public/patient health and ensure that effective technologies and high-quality products reach patients.
Growing demand for diagnosis of chronic diseases, rising prevalence of diabetes, and increasing geriatric population are also fueling the market growth. According to the population reference bureau, the number of Americans aging 65 and older is projected to be more than double from 46 million in 2015 to over 98 million by 2060. Due to the damage or weakening of blood vessels in the geriatric population capillary blood sampling devices are used so that minimal damage occurs. Moreover, chances of blood infections also subside as these people are more vulnerable towards numerous chronic diseases such as tuberculosis, jaundice, cholesterol, and other communicable diseases.
However, the risk associated with capillary blood assortment techniques and blood contaminations may strongly hinder the growth of the market. Disease such as Variant Creutzfeldt-Jakob disease (vCJD) also known as Mad Cow Disease, a very rare and fatal brain disorder may develop due to blood contaminations (National Institute of Health). Hence, people who may have been exposed to vCJD aren’t eligible for blood donation.
F. Hoffmann-La Roche AG
Becton Dickinson and Company
Novo Nordisk A S
Thermo Fisher Scientific Inc., etc.
Capillary Blood Collection Devices Market – Segmentation:
The global capillary blood collection devices market is segmented on the basis of material, type of devices, and end-user.
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On the basis of the material, the market is classified into plastic, glass, stainless steel, and others.
On the basis of the type of devices, the market is segmented into blood collecting tubes and collector, lancets, and warming devices.
On the basis of the end -user, the market is segmented into hospitals, clinics, diagnostic centers and pathology laboratories, home diagnostics, and others.
Capillary Blood Collection Devices Market – Regional Analysis:
The global capillary blood collection devices market is segmented on the basis of regions, namely, America, Europe, Asia Pacific, and the Middle East & Africa.
The Americas dominate the capillary blood collection devices market owing to the high healthcare expenditure, growing demand for diagnosis of chronic diseases, and well-developed technology.
The occurrence of contagious diseases is increasing rapidly on a global level, some of these diseases include Hantavirus pulmonary syndrome, HIV/AIDS, Lyme disease, hemolytic uremic syndrome. The need to monitor along with the requirement of advanced techniques for diagnosis testing of non-contagious diseases such as diabetes mellitus, chronic kidney diseases, lung disease, and some heart diseases are expected to impact the growth of the global capillary blood collection devices market.
Europe holds the second position in the capillary blood collection devices market. It is expected that the economic support provided by the government and private bodies for R&D, increasing the incidence of diabetes, and presence of leading market players are propelling the growth of the capillary blood collection devices market in the European region. For instance, Medtronic, an Ireland based company, is a global healthcare solution company that provides a multitude of products. The product. In January 2015, the company completed the acquisition of Covidien plc tap new markets.
The Asia Pacific region is projected to be the fastest growing region during the forecast period. Rapidly improving technology, and rising prevalence of Diabetes drive the growth of this market in Asia Pacific region. According to the 2013 statistics suggested by The Diabetes Atlas, around 366 million people are affected by diabetes in the Asian region.
The Middle East and Africa hold the least share of the capillary blood collection devices market owing to the presence of poor and slow developing countries, especially, in the African region.
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