Inclusion of Improved Diagnostic Tools to Inspire Better Hike in Blood Collection Market
Overview:
The global market for the blood collection was valued at USD 7460 Million in 2017 and as the recent report published by Market Research Future (MRFR) suggests, the market would record a CAGR of 6.1% till the end of the forecast period. The report mentions 2018 to 2023 as the forecast period. Hike in the market growth would depend much on the increasing diagnostic procedures to be sure of various diseases. This is getting traction from inventions in the lab medicines and setups, hike in the inclusion of various tools, and better investment in research can make sure that the market for blood collection can grow substantially in the coming years. Hike in the recording of chronic diseases can ensure better market growth as early diagnostic of these diseases can inspire better growth.
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However, the market for blood collection can have a hurdle in the form of contamination. But changes in logistics can steer the market on the growth track again.
Segmentation
The global blood collection market has been studied in the report on the basis of the type of blood collection, method, product, and end user. These segments are expected to discuss various moves in the market in great detail.
By type of blood collection, the global market report on the blood collection market segments it by venous blood collection, capillary blood collection, and vacuum blood collection.
By product, the market report covers segments like blood collection tubes & collector, blood collection devices, warming devices, needles & syringes, lancets, blood bags, and others. The blood collection tubes & collector segment can be segmented as a plasma or whole blood collection tubes and serum collection tubes. The former segment has heparin tubes, EDTA tubes, glucose tubes, coagulation tubes, and ESR tubes.
By the method, the market report includes segments like automated blood collection and manual blood collection. The automated blood collection method is witnessing a hike in the intake.
By end user, the market report on the blood collection can be segmented into diagnostic centers & pathology laboratories, hospitals & clinics, blood banks, home diagnostics, and others. The hospitals & clinics segment has the maximum market share. The diagnostic centers & pathology laboratories may grow with the fastest CAGR during the forecast period.
Regional Analysis:
Geographically, the report points to the Americas that have the potential to dominate the blood collection market in the coming years. This would be a result of the better market setup, high technological inclusion, increased diagnostic procedures, high investment capacity for research & development facilities, and better per capita income that would ensure better performance from the market.
Europe has the second lead and it would gain more from the increased funding for the research and development sector. The regional market is getting pushed ahead by countries like the UK, France, Germany, and others.
In the Asia Pacific region, the market would get notable traction from the massive population that resides here. Better investment in building the setup, hike in awareness and investment, and other reasons can inspire the market growth in the coming years. Countries like India, Australia, China, South Korea, Japan, and others would influence the market outcome. The Middle East & Africa, on the other hand, would suffer from the lack of infrastructure, expenditure capacity, and awareness. However, various NGOs are playing crucial roles in taking the market forward.
Competitive Landscape:
Terumo, BD, Medtronic, Nipro Medical, Haemonetics, Fresenius, F.L. Medical, Kawasumi Laboratories, B. Braun Melsungen AG, Sarstedt AG & Co, Greiner Holding, Grifols, HTL-STREFA S.A., Thermo Fisher Scientific Inc., and others can be taken into account for a better analysis of the global market for blood collection. These companies, as mentioned by MRFR, can present better strategic moves that can inspire market growth. These companies are relying mostly on mergers, acquisitions, hike in investments, innovations, and others to make sure that the market gets good growth opportunities.
In December 2019, Loop Medical developed a new type of blood collection procedure that would take samples from capillaries under the skin instead of veins that require pricking. The device would be needle-free in its design.
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