Rising prevalence of various diseases worldwide is driving the revenue growth of the market
The global capillary blood collection market size is expected to reach USD 2.10 billion by 2028 at a CAGR of 5.3%, according to the latest report by Reports and Data. Rising prevalence of chronic ailments among expanding populace is a significant factor predicted to propel the revenue growth of the global capillary blood collection market between 2021 & 2028.
Additionally, increasing need for minimally invasive methods is likely to augment the demand for capillary blood collection device, thereby fueling the market revenue growth. Moreover, growing application of the technique combined with point-of-care diagnostics has become the most preferred method of testing, especially in remote health settings, which is another factor contributing to the revenue growth of the market.
Capillary blood collection is a medical procedure comprising a properly prepared collection tube or test vessel and a capillary end which is closed with a stopper. It has become a preferred modality for sampling blood, offering easy handling along with tinted, light protected vessels for bilirubin analysis. Moreover, these capillary blood collection tubes are unbreakable, which is fueling their demand in the laboratory. This in turn is promoting the revenue growth of the market.
However, several risks associated with capillary blood collection technique and various challenges faced at the time of micro-collection are a few factors restraining the market revenue growth to a certain extent. Nonetheless, product innovation and fast technological advancements in the capillary blood collection tubes are expected to offer lucrative opportunities for the high growth of the market revenue.
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Further key findings in the report
- Revenue of the lancets segment is predicted to grow significantly in the market going ahead. Segment growth is attributed to growing demand for minimum invasiveness during blood collection.
- The whole blood tests segment is expected to register highest revenue share in the global market during the forecast period owing to their ability to detect a wide range of diseases.
- The hospitals and clinics segment accounted for highest revenue growth in the market in 2020 due to frequent diagnostic testing and large inflow of patients.
- North American market is expected to register largest revenue share in the global market during the forecast period. Rising prevalence of various diseases and increasing number of surgeries are major factors fueling the revenue growth of the market in North America.
- Major companies operating in the market are Becton, Dickinson and Company (U.S.), Thermofisher Scientific (U.S.), B. Braun Melsungen AG (Germany), Ypsomed Holding AG (Switzerland), Bio-Rad (U.S.), Sarstedt AG & Co (Germany), and Terumo Corporation (U.S.).
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For the purpose of this report, Reports and Data has segmented the global capillary blood collection market on the basis of device type, source, application, end user, and region:
Device Type Outlook (Revenue, USD Billion, 2018 – 2028)
- Lancing Devices
- Puncture Devices
- Incision Devices
- Microcontainer tubes
- Microhematocrit tubes
- Warming devices
- Others (if any)
Source Outlook (Revenue, USD Billion, 2018 – 2028)
- Infants and Young Children
- Elderly Patients (with Fragile Veins)
- Severely Burned Patients
- Point-of-Care Testing
Application Outlook (Revenue, USD Billion, 2018 – 2028)
- Point-of-Care Testing
- Blood Glucose Monitoring
- Neonatal Screening
- Blood Gases Testing
- Dried blood spot testing (DBS)
- Blood Examination
- Others (if any)
End User Outlook (Revenue, USD Billion, 2018 – 2028)
- Blood Banks
- Diagnostic Centers
- Others (if any)
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Regional Outlook (Revenue, USD Billion, 2018 – 2028)
- North America
- Rest of Europe
- South Korea
- Rest of APAC
- Saudi Arabia
- South Africa
- Rest of MEA
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Some points on how the report benefits stakeholders:
- The reports include historical (2018–2020) and forecast (2021–2028) data points, revenues, and CAGR in table, figure, and chart formats, with detailed and qualitative, supporting written information for each.
- Revenue break-up is provided for each segment in these formats for global, regional, and for each country in the respective region for each year between 2018 and 2028.
- The report contains insights regarding growth drivers, restraints, opportunities, trends, company profiles, strategic developments, expansion details, product launches, and various other aspects related to the market.
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- The report contains company profiles of the top companies operating in the market along with their respective revenue and operating segments, geographical reach, market footprint, headquarters, growth rates, recent developments, product /services, expansion strategies, investments in expansion, and more.
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