ID: MRFR/MED/5548-HCR | February 2021 | Region: Global | 90 pages
Blood collection market is expected to grow significantly over the forecast period. It is anticipated that the market held a valuation of USD 7460 Million in 2017 and is projected to grow at a CAGR of 6.1% over the forecast period. Blood collection plays an important role in the treatment of patients. It persists as a diagnostic tool in laboratory medicine.
In most of the cases, blood is usually collected to perform a variety of laboratory tests. Among all the types of blood collection devices, Capillary Blood Collection is simple and relatively painless procedure for clinical testing.
Rising demand for early diagnosis of chronic conditions is one of the key factors driving the blood collection market. According to the Centres for Disease Control and Prevention (CDC), in 2017 nearly 30.3 million people had diabetes out of which 23.1 million people were diagnosed with diabetes while 7.2 million people remain undiagnosed in the United States. Various other factors such as rising awareness about blood sampling, favourable medical device regulation, developing healthcare infrastructure, increasing research & development activities related to healthcare and favourable reimbursement and funding policies are also expected to propel the growth of the market.
However, the injury caused during blood collection, blood contaminations, and other complications
can hinder the market growth over the forecast period. There are several potential complications related to blood collection procedure such as, Haematoma or excessive bleeding, arteriospasm or involuntary contraction of the artery, nerve damage, fainting or a vasovagal response, and others.
Blood Collection Market Segmentation
The blood collection market has been segmented into type of blood collection, product, method, and end user.
The market, on the basis of type of blood collection, has been segmented into capillary blood collection, venous blood collection, and vacuum blood collection.
The market, by product, has been segmented into blood collection devices, blood collection 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 market, by method, has been segmented into automated blood collection and manual blood collection.
The market, by end user, has been segmented into hospitals & clinics, diagnostic centres and pathology laboratories, home diagnostics, blood banks, and others. The hospitals & clinics segment is anticipated to hold the largest market share owing to the increasing cases of chronic conditions. The diagnostic centres and pathology laboratories are expected to grow at the highest CAGR owing to the ongoing research on better blood sampling approaches.
The market has been segmented, by region, into the Americas, Europe, Asia-Pacific, and the Middle East & Africa. The blood collection market in the Americas has further been segmented into North America and South America, with the North American market divided into the US and Canada.
The European blood collection market has been segmented into Western Europe and Eastern Europe. Western Europe has been classified as Germany, France, the UK, Italy, Spain, and the rest of Western Europe.
The blood collection market in Asia-Pacific has been segmented into Japan, China, India, South Korea, Australia, and the rest of Asia-Pacific. The blood collection market in the Middle East & Africa has been segmented into the Middle East and Africa.
Blood Collection Market Key players
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 are some of the key players in the blood collection market.
Global Blood Collection Market Share (%), by Region, 2017
Source: Centers for Disease Control and Prevention (CDC), Eurostat, White Papers, Company Presentations, Annual Reports
Geographically, the Americas is anticipated to dominate the blood collection market owing to rising healthcare expenditure, increasing cases of chronic conditions and technological advancements in blood collection.
According to the data suggested by Centres for Disease Control and Prevention (CDC) in 2017, 38,739 people received an HIV diagnosis in the US. An antigen/antibody test performed on blood from a vein can usually detect HIV infection 18 to 45 days after an exposure.
Europe is expected to hold the second largest position in the blood collection market. The market growth in this region is attributed to the government funding and improvement in research & development activities.
The blood collection market in Asia-Pacific region consists of countries namely China, Japan, Republic of Korea, India, Australia and Rest of Asia-Pacific. The Asia-Pacific region is expected to be fastest growing region owing to the awareness regarding use of sterile devices for blood collection and rising healthcare spending. According to the World Bank Group, India spent 3.89% of its Gross Domestic Product (GDP) on health.
The Middle East & Africa are expected to hold the least share of the market. The market growth in this region is expected to be driven by rising awareness about blood collection techniques and developing healthcare infrastructure.
Global Market, by Type
Global Market, by Product
Global Market, by Method
Global Market, by End User
Global Market, by Region
Global Market, by Key Players
Frequently Asked Questions (FAQ) :
In 2017, the market had a valuation of USD 7460 million.
The anticipated CAGR of the market would be 6.1% during the forecast period (2018-2023).
The market has end users in the form of diagnostic centers & pathology laboratories, hospitals & clinics, blood banks, home diagnostics, and others.
The market has types like venous blood collection, capillary blood collection, and vacuum blood collection.
The Asia Pacific region has the possibility to emerge as the fastest-growing market.