Blood Collection Device Market - Industry Size, Share, Growth & Forecast 2027 | UnivDatos

 

The blood collection devices market is expected to witness a CAGR of ~7% during the forecast period. Blood collection refers to the process of taking blood samples from the donor to perform laboratory diagnostic tests during the treatment of patients. The growing number of accidents & trauma cases, rising incidence of infectious disease coupled with the development of liquid biopsy technology, blood donation, and organ transplants are the major factors for the growth of this market during the forecast period. Furthermore, major stakeholders in the market are continuously focusing on the research and development of advanced products for medical diagnostic and treatment procedures. For instance, in 2020, Magnolia Medical launched the new Steripath Gen2 Initial Specimen Diversion Device with an integrated syringe. The trusted solution for reducing blood culture contamination is now optimized for ‘hard stick’ patients and syringe collection protocols.

According to UnivDatos Market Insights (UMI)’ research report “Blood Collection Device Market”, the market is expected to witness a CAGR growth of around 7% during the forecast period 2021-2027F. This can be mainly attributed to an increase in government funding coupled with the rising number of research institutes getting involved in discovering new drugs and therapies, including generic drugs.

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Based on product type, the market is segmented into blood collection tubes, needles, and syringes, blood bags, others. In 2020, The blood collection tubes category is anticipated to witness a considerable growth rate over the forecast period. That is mainly used for blood collection and hematology studies such as red cell fragility tests and several specialized chemistry tests. In addition, blood collection tubes containing sodium citrate & heparin, are used for coagulation studies & stabilize the red blood cell membranes. Moreover, the increasing number of accidents, cancer cases (anemia, leukemia, myeloma), awareness for blood donation, chronic bleeding disorders, and surgeries are the major factors for the growth of the segment during the forecast period. For instance, according to the World Health Organization (WHO), in 2020, every year, 1.35 million people die due to road accidents, and 20-50 million suffer from non-fatal injuries. 

Based on application, the market has been segmented into diagnostics and treatment. In 2020, the diagnostics category held the largest share and is anticipated to witness a considerable growth rate over the forecast period. In addition, blood collection devices are mostly used in diagnostics, as blood samples are required to diagnose infections due to pathogenic microorganisms in the level of various blood components. In addition, the growing elderly population with iron deficiency requiring blood transfusion is also supporting the market growth. For instance, according to the World Health Organization (WHO), anemia is a serious global public health problem that particularly affects young children and pregnant women. WHO estimates that 42% of children less than 5 years of age and 40% of pregnant women worldwide are anemic.

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Based on end-user, the market is bifurcated into hospitals and diagnostic centers, blood banks, and others. In 2020, the blood banks category held a significant market share in the blood collection devices market. The growth of this segment can be attributed to the rising surgical procedures, injuries, and blood cancer coupled with the increasing number of road accidents and the growing geriatric population, globally. For instance, according to the World Health Organization (WHO), By 2030, 1 in 6 people in the world will be aged 60 years or over. At this time the share of the population aged 60 years and over will increase from 1 billion in 2020 to 1.4 billion. 

North America to witness extensive growth

For a better understanding of the market, the report provides a detailed analysis of major regions and countries including North America (U.S., Canada, Rest of North America); Europe (Germany, U.K., France, Spain, Italy, Rest of Europe); Asia-Pacific (China, India, Japan, Rest of Asia-Pacific) and Rest of World. In 2020, North America accounted for a significant market share. In addition, increasing blood donation, health awareness, high income, reimbursement policies, and well-established healthcare infrastructure are some of the key factors for the growth of this market during the forecast period. Furthermore, according to Community Blood Center (CBC) data, every day around 43,000 pints of donated blood is used in both the U.S. and Canada.

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According to UnivDatos Market Insights (UMI)’, the key players with a considerable market share in the blood collection device market are Becton, Dickinson and Company, Cardinal Health, Terumo Corporation, FRESENIUS KABI, Henry Schein Inc., McKesson Corporation, Medline Industries Inc., Smiths Medical, Quest Diagnostics, and Nipro Medical Corporation. Several M&A’s along with partnerships have been undertaken by these players to boost their presence in different regions. 

“Blood Collection Device Market” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for the market players. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitors’ capabilities on different parameters. This will help companies in the formulation of go-to-market strategies and identifying the blue ocean for its offerings.      

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Market Segmentation:

1.     By Product (Blood Collection Tubes, Needles and Syringes, Blood Bags, Other)

2.     By Application (Diagnostics, Treatment)

3.     By End-User (Hospitals and Diagnostic Centers, Blood Banks, Other)

4.     By Company (Becton, Dickinson and Company, Cardinal Health, Terumo Corporation, FRESENIUS KABI, Henry Schein Inc., McKesson Corporation, Medline Industries Inc., Smiths Medical, Quest Diagnostics, Nipro Medical Corporation)

Key questions answered in the study:

1.     What are the current and future trends of the blood collection device market industry?

2.     How the industry has been evolving in terms of technology and application?

3.     How the competition has been shaping across the countries followed by their comparative factorial indexing?

4.     What are the key growth drivers and challenges for the blood collection device market industry?

5.     What is the customer orientation, purchase behavior, and expectations from the blood collection device market suppliers across various region and countries? 

Table of Content –

1 MARKET INTRODUCTION

2 RESEARCH METHODOLOGY OR ASSUMPTION

3 MARKET SYNOPSIS

4 EXECUTIVE SUMMARY

5 BLOOD COLLECTION DEVICES MARKET COVID-19 IMPACT

6 BLOOD COLLECTION DEVICES MARKET REVENUE, 2019-2027F

7 MARKET INSIGHTS BY PRODUCT

8 MARKET INSIGHTS BY APPLICATION

9 MARKET INSIGHTS BY END-USER

10 MARKET INSIGHTS BY REGION

11 BLOOD COLLECTION DEVICES MARKET DYNAMICS

12 BLOOD COLLECTION DEVICES MARKET OPPORTUNITIES

13 BLOOD COLLECTION DEVICES MARKET TRENDS

14 LEGAL & REGULATORY FRAMEWORK

15 DEMAND AND SUPPLY-SIDE ANALYSIS

16 VALUE CHAIN ANALYSIS

17 COMPETITIVE SCENARIO

18 COMPANY PROFILED

19 DISCLAIMER

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