The Blood Collection Devices Market is expected to foresee significant growth. The U.S. to lead the growth!

• Vikas Kumar
• July 16, 2022
• HEALTHCARE, NEWS
• Blood Collection Devices Market, Blood Collection Devices Market Forecast, Blood Collection Devices Market Growth, Blood Collection Devices Market Report, Blood Collection Devices Market Share, Blood Collection Devices Market size, Blood Collection Devices Market Trend
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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 majorly 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.

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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.

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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Some of the major companies operating in the market include 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.

Blood collection devices Market Segmentation

Market Insight, by Product

• Blood Collection Tubes
• Needles and Syringes
• Blood Bags
• Other           

Market Insight, by Application

• Diagnostics
• Treatment

Market Insight, by End-User

• Hospitals and Diagnostic Centers
• Blood Banks
• Other

Market Insight, by Region

• 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
• Rest of the World

Top Company Profiles

• 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