Blood Collection Market Size, Trends and Growth Analysis by product (blood collection devices, blood collection tubes, needles and syringes, lancets), method (automated, manual), Type of blood collection (capillary, venous, vacuum), end user – Forecast Till 2023
Blood Collection Market Overview:
The Global Blood Collection Market size is projected to grow at CAGR of 6.1% during the forecast period. Increasing prevalence of chronic conditions, advancements in healthcare facilities, and favorable funding policies are expected to drive the market growth over the forecast period. World Health Organization (WHO) says that more than 41 million or close to 71% of the worldwide deaths in 2018 happened owing to non-communicable diseases. Cardiovascular disorders accounted for the highest mortality rate in 2017, crossing 17.9 million, while cancer claimed around 9 million lives and respiratory ailments like asthma and chronic obstructive pulmonary disease claimed more than 3.9 million lives. These numbers are indicative of the escalating cases of non-communicable diseases around the world, which fosters blood collection segment. The scenario demands for an early diagnosis of various ailments and conditions, thereby inducing significant blood collection market growth.
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However, blood contamination and injury caused by blood collection devices can restrain the market growth over the assessment period. The National Trauma Institute reveals that trauma injuries claim lives close to 30% of global population. The rising economic burden touches roughly USD 671 billion every year. Statistics also suggest that trauma is the primary reason behind deaths of people aged 1 to 46. Alarming growth in road accidents across the world has pushed the demand for blood and blood components. These statistics indicate the dramatic rise in trauma injuries and the consequent increase in the need for various blood collection products. Mounting awareness regarding blood sampling, supportive regulations, improving healthcare infrastructure and favorable funding policies also propel have also boosted blood collection procedures worldwide.
Blood Collection Market Segmentation:
The Global Blood Collection Market has been segmented into type of blood collection, product, method, and end user.
The blood collection market by method has been segmented into hospitals & clinics, diagnostic centres and pathology laboratories, home diagnostics, blood banks, and others.
The blood collection market on the basis of type has been segmented into capillary blood collection, venous blood collection, and vacuum blood collection.
The blood collection devices market, by product has been segmented into tubes and collector, needles and syringes, warming devices, blood bags, lancets, and others. The blood collection tubes and collector segment is further classified as serum collection tubes, and plasma or whole blood collection tubes. The plasma or whole blood collection tubes segment includes EDTA tubes, heparin tubes, coagulation tubes, glucose tubes, and ESR tubes. The blood collection tubes and collector is expected to hold the largest market share owing to the growing demand for early diagnosis of chronic conditions.
The blood collection market by method has been segmented into automated blood collection and manual blood collection.
Blood Collection Market Key Players:
Some of the prominent players in the global blood collection market are BD, Medtronic, Terumo, Haemonetics, Fresenius, Nipro Medical, Kawasumi Laboratories, F.L. Medical, Greiner Holding, Grifols, B. Braun Melsungen AG, Thermo Fisher Scientific Inc., HTL-STREFA S.A., Sarstedt AG & Co and others.
Blood Collection Market Regional Outlook:
The blood collection market has been regionally segmented into Europe, the Americas, MEA or Middle East & Africa and Asia Pacific or APAC.
The APAC blood collection market is primarily dominated by Japan, India, Australia, Republic of Korea and China, and the region could procure the fastest growth rate in the next couple of years. Soaring awareness level about using sterile blood collection devices and increasing healthcare spending are responsible for the strong market growth. Also, the blossoming pool of key manufacturers in the region can blood collection segment in the region.
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It is anticipated that over the coming years, the Americas can be the market leader, backed by factors like the significant spending on healthcare, heavy burden of chronic disorders and increase in technological innovations in blood collection. The Centers for Disease Control and Prevention (CDC) said that in 2017, around 38,739 individuals got HIV diagnosis in the United States. In addition, the existence of renowned clinical diagnostics vendors and the high focus on clinical trials and researches also propel the market growth in the Americas.
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