Blood Collection Market

Blood Collection Market Size (2023 to 2028)

The global blood collection market size is predicted to showcase a growth rate of 4.85% CAGR from 2023 to 2028.

MARKET DRIVERS:

The growing prevalence of chronic diseases and the lifestyle of the citizens where there is a scope of attack by the diseases are propelling the global blood collection market growth.

There is a rapid increase in chronic diseases globally. Cardiovascular disease is a chronic disease that is a reason for the deaths of many people; more than half of the population is also a significant cause for the market to growth. Cardiovascular disease affects the population, but diseases like Obesity and Diabetes also have trends of worry due to appearing in the early stage of life. Across the globe, diseases are prevalent, especially in emerging countries that are leveling up the market demand. In addition, health checkups are growing among people personally, contributing to the significant growth in the blood collection market. The growing prevalence of health disorders worldwide mainly drives the demand for the global blood collection market. In addition, the increasing geriatric population and increased awareness of fitness are boosting the growth of the market. Emerging the latest techniques in collecting blood samples without pain and implementing special laboratories to analyze the collection in an advanced way are surging the market's growth opportunities. In addition, the rise in disposable income in both developed and developing countries is also lavishing the demand for the blood collection market.

MARKET RESTRAINTS:

However, the lack of standardization is quietly restraining the demand in the global blood collection market. Also, the lack of skilled practitioners in collecting blood samples, especially in rural areas, drowns the global blood collection market's growth rate. Difficulty in storing the blood samples not only storing but also shipping the samples is a standard challenging factor for market growth. Storage of the collected samples should be under a strict temperature and maintain the conditions of the environment for the analysis. So, to protect the blood samples, they must be frozen or refrigerated. Negligence in storing the samples as per the guidelines in some countries impedes the growth rate of the market.

Impact of COVID-19 on the global blood collection market:

The COVID-19 pandemic is having a significant impact on the blood collection market. Both the laboratories and hospitals are in the dilemma of continuing the tests as there is a high-risk profile or discontinuing the unsafe tests. There is a negative impact on the market due to this confusion for the first few months of the pandemic. However, the market shares to level up in the first half of 2021.

REPORT COVERAGE:

This research report on the global blood collection market has been segmented and sub-segmented based on the product, application, end-user, and region.

Blood Collection Market – By Product:

• Blood Collection Tubes
  • Serum Collection Tubes
  • Plasma or Whole Blood Collection tubes
    • EDTA Tubes
    • Heparin Tubes
    • Coagulation Tubes
    • Glucose Tubes
    • ESR Tubes
• Needles and Syringes
• Blood Bags
• Blood Collection Devices
• Lancets

The needles and syringe segment contributes significantly to the blood collection market based on the product type. The needles and syringes have high adopted, repetitive purchases, and can afford highly. Therefore, increased demand for syringes and needles in the procedures are the driving factors in the blood collection market. Moreover, disease diagnosis is also a significant factor in the blood collection market of the product segment.

The Serum separating tubes segment is growing tremendously and fueling the market shares.

Blood Collection Market – By Application:

• Venous Blood Collection
• Capillary Blood Collection

Based on the application, Venous blood collection has the highest growth rate from the past decade.

Blood Collection Market – By End User:

• Hospitals and Pathology Laboratories
• Blood Banks
• Other End Users

The largest share is accounting for the hospitals, nursing homes, and ambulatory surgical centers by the end-user segment. The end-user segment is divided into blood banks, diagnostic & pathology laboratories, hospitals, nursing homes, and ambulatory surgical centers.

Blood Collection Market – By Region:

• North America
• Europe
• Asia Pacific
• Latin America
• The Middle East and Africa

Regionally, the North American blood collection market is forecasted to account for the most significant share of the global market during the forecast period due to the rise in chronic diseases and increased capital income. Additionally, factors such as the well-developed infrastructure of healthcare and increment in R&D activities are majorly fuelling the market's growth rate. Many leading clinical diagnosis companies are present in the North American region. Primarily the significant growth is contributed by the adoption of innovative ideas and having the technology of advance. Moreover, focusing on clinical research is eventually fueling the growth rate of the market in North America.

The European blood collection market is right next to North America in performing well. It is predicted to account for a substantial share of the global market during the forecast period. During the forecast period, the European blood collection market is expected to grow at a compound annual growth rate of 5.9%. Growth in the number of blood donation activities and numerous key players are the factors supporting the European blood collection market.

The Asia-Pacific blood collection market is expected to register healthy growth from 2021 to 2026 due to the rise of disposable income, increasing manufacturing, growing adoption of technological advancements, and increased support from the government.

KEY MARKET PLAYERS:

Companies playing a vital role in the global blood collection market profiled in this report are Becton Dickinson, Terumo, Medtronic, Haemonetics, Fresenius, Nipro Medical Corporation, F.L. Medical, Greiner Holding, Smiths Group, Grifols, Kawasumi Laboratories, Quest Diagnostics, Sarstedt Ag & Co., Retractable Technologies and Ab Medical.