Sunday, 26 March 2023
The News and Media Division of The Insight Partners
The blood collection devices market was valued at US$ 9,060.98 million in 2019 and is projected to reach US$ 14,228.70 million by 2027; it is expected to grow at a CAGR of 5.9% during 2020–2027.
Blood collection devices help in safe withdrawal of blood. Blood is collected from donor to perform various diagnostic tests. Needles & rings, lancets, and other devices are used for arterial and venous blood collection. Arterial blood collection has various advantages such as arterial blood gas sampling and intraoperative blood salvage. However, with the growing number of accidents & trauma cases, rising incidence of infectious disease, and developing liquid biopsy technology have improved associated healthcare processes. However, the shortage of qualified personnel will impede the market growth. Furthermore, the growth opportunities among emerging nations are likely to offer significant opportunities for the growth of the global blood collection devices market.
Free Sample Report + All Related Graphs & Charts (Including COVID19 Impact Analysis) @:
https://www.theinsightpartners.com/sample/TIPHE100001279/?source=smartmarketnews-10408
Market Insights
Growing Number of Accidents & Trauma Cases and Rising Incidence of Infectious Disease
A rise in the number of road accidents, fires, and sports injuries has led to an increase in the incidences of trauma and injuries. According to the Global Status Report on Road Safety, a report published by WHO in 2018, approximately 1.3 billion people die in road accidents each year, and is one of the leading causes of mortality worldwide. Current trend analysis predicts that by 2030, road accidents will become the fifth-leading cause of death globally.
The rising number of accidents and injury cases will propel the demand for blood transfusion in the coming years. As the accident casualties or trauma patients often face blood loss, the transfusion of blood, particularly red blood cells, is required to restore the lost blood volume. Hence, the demand for blood transfusion in trauma patients, coupled with growing incidents of injuries, will stimulate the growth of the blood collection devices market.
Traditionally, antimicrobial therapy was used to cure infectious diseases; however, over the years, microbes have developed resistance against drugs, owing to which antimicrobial agents have failed to deliver the coveted results. Despite significant advancements in sanitation and therapy, there are rising cases of infectious diseases, such as human papillomavirus (HPV), hepatitis, human immunodeficiency virus (HIV), tuberculosis, and malaria. This rising prevalence of diseases will be promising for market growth as blood tests are a primary mode of diagnosing these conditions.
Products Insights
Based on product, the blood collection devices market is segmented into blood collection tubes, blood collection needles/holders, blood collection sets, and others. In 2019, the blood collection needles/holders segment accounted for the largest share of the global blood collection devices market. The growth of the segment attributes to the high adoption of the products in various medical diagnostic and treatment procedures. Moreover, repeat purchases and high affordability are some of the primary factors contributing to the dominance of the segment in the global blood collection devices market.
End User Insights
Based on end user, the blood collection devices market is segmented into hospitals & pathology laboratories, blood banks, and others. The hospitals & pathology laboratories segment held the largest share in the global blood collection devices market in 2019. Growth of the segment is attributed to exposure to global trends, developing liquid biopsy technology, and the need to provide the highest standards of patient care. For instance, hospitals and pathology laboratories provide healthcare facilities through specialized scientific equipment. A team of trained staff is assigned to deal, investigate, restore the problems associated with modern medical science in the hospital and pathology laboratories. The various medical research teams are constantly working on introducing innovative technologies related to the treatment methods, laboratory investigations, and other activities in the medical field. The patients generally prefer the hospital to take treatment due to advanced treatment options for patients for the treatment of chronic conditions. The blood collection devices are being frequently used in hospitals and pathology laboratories. In the hospitals are generally the point of blood collection from the patients for various medical purposes. In the hospital, the blood collection devices such as blood collection tubes, needles, holders, and blood collection sets are utilized during the blood collection. In the laboratories, the collected/sampled blood is used for the clinical tests. The blood collection containers, such as tubes, help in handling of the sampled blood securely.
As hospitals recognize the need to provide the highest standards of patient care, the demand for blood collection devices is likely to increase at a steady pace during the forecast period.
Strategic Insights
Collaborations and technology partnerships by the operating players in the market to bridge the demand-supply gap are anticipated to play a significant role in the growth of the blood collection device market during the forecast period. Moreover, the growing number of accidents & trauma cases and rising incidence of infectious disease are predicted to accelerate market growth.
By Product
By Method
By End User
By Geography
Company Profiles
Note: If you have any special requirements, please let us know and we will offer you the report as you want.
Buy Complete Report at: https://www.theinsightpartners.com/buy/TIPHE100001279/?source=smartmarketnews-10408
About Us:
The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We are a specialist in Technology, Healthcare, Manufacturing, Automotive and Defence.
Contact Us:
Call: +1-646-491-9876
Email: sales@theinsightpartners.com
Smart Market News brings you the stories of adopting innovative solutions and strategies that have been changing the world. Our insights on products, solutions, companies, and adoption of best practices help in understanding the markets better and make smarter decisions.
Smarter Decisions with Smart News
Smart Market News is committed to getting its readers the latest updates and insights on industries that help in making “smarter” business decisions. With insights and inputs from corporate decision makers, we bring you the stories of adopting innovative solutions and strategies that have been changing the world. Our editorial insights on products, solutions, companies, and adoption of best practices not only help in understanding the markets better, but also prove to be a complete package for your information needs.
media@smartmarketnews.com | sales@smartmarketnews.com
Contact Us
Buttermilk Powder Market Current and Future Trends, Growing Demand and Productio.. 
Aircraft Transparencies Market 2021: Material Capabilities Evaluation by Aeropai..