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Thursday, 18 April 2024
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Blood Collection Devices Market is expected to reach US$ 14,021.79 million by 2030

The global blood collection devices market is projected to grow from USD 8,713.21 million in 2022 to USD 14,021.79 million by 2030.

By The Insight Partners

Blood Collection Tube Dominated Blood Collection Devices Market Base on Product in 2022

According to our new research study on "Blood Collection Devices Market Forecast to 2030 – Global Analysis –Product, Method, and End User," the market was valued at US$ 8,713.21 million in 2022 and is projected to reach US$ 14,021.79 million by 2030. It is estimated to register a CAGR of 6.1% from 2022 to 2030.

Blood collection devices help in the safe withdrawal of blood. Blood is collected from a donor to perform various diagnostic tests. Needles & syringes, lancets, and other blood collection devices are used for arterial and venous blood collection. The arterial blood collection method supports arterial blood gas sampling and intraoperative blood salvage.

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The blood collection devices market, by product, is segmented into blood collection tubes, blood collection needles/holders, blood collection sets, and others. The blood collection tube segment is further bifurcated into evacuated blood collection tubes and micro-collection tubes. In 2022, the blood collection tubes segment held the largest share of the market. Also, the segment is expected to record the highest CAGR during the forecast period. Blood collection tubes are specimen-collecting containers used to collect the desired quantity of the blood sample. These tubes are pre-sterilized containers with closure caps. There are different varieties of blood collection tubes based on the content in the tubes, such as anticoagulants, stabilizers, enzymes, and other reagents. The collecting tubes are available in the market in different cap color codes, such as blue, red, gold, green, lavender, pink, and gray, depending on the additive in the tube and the type of test procedure. The blood collection tubes are used to collect blood samples in large quantities. Blood collection tubes are made of glass, plastic, and other materials. It is widely used in clinical laboratories, hospitals, research institutes, etc.

By method, the blood collection devices market is bifurcated into manual blood collection and automatic blood collection. In 2022, the manual blood collection segment held a larger share of the market. However, the automated blood collection segment is anticipated to record a higher CAGR during the forecast period. The manual blood collection method is the primary and oldest blood collection method. In this method, the venous blood vessel is punctured with the help of a blood collection needle attached to a blood collection tube. This method requires trained and skilled professionals. However, there are chances of injuries in this method due to incorrect administration of needles. Thus, various products are available in the market to overcome and avoid injuries associated with the manual blood collection process, including blood collection sets comprising needle holders, needle safety caps, tubing, and other associated devices. Furthermore, there is a high risk of contamination of the samples and errors during the manual blood collection procedures.

Region Analysis – Blood Collection Devices Market

In terms of geography, the blood collection devices market is categorized into North America, Europe, Asia Pacific, the Middle East & Africa, and South & Central America. Asia Pacific is anticipated to record the highest CAGR in the global market during the forecast period. In 2022, China accounted for the largest share of the market in Asia Pacific and is expected to continue its dominance during the forecast period. According to the National Health Commission (NHC), China recorded more than 15 million blood donations in 2020, a 40-fold increase compared to donations noted in 1998, which signifies the effect of the Blood Donation Law. Further, the average blood donation participation in the country grew from 5 per 1,000 people in 1998 to 11 per 1,000 in 2020. Thus, the demand for products required for blood collection surges with the rising number of blood donations in China.

Becton Dickinson and Co, Terumo Corp, Cardinal Health Inc, SARSTEDT AG & Co KG, Nipro Corp, Thermo Fisher Scientific Inc, Sekisui Chemical Co Ltd, Greiner Bio-One International GmbH, FL Medical SRL, and IntervacTechnology OU are among the leading companies operating in the blood collection devices market.

The report segments the blood collection devices market as follows:

The blood collection devices market is categorized on the basis of product, method, and end user. By product, the market is segmented into blood collection tubes, blood collection needles/holders, blood collection sets, and others. The blood collection devices market, by method, is bifurcated into manual blood collection and automatic blood collection. In terms of end user, the blood collection devices market is categorized into hospitals and pathology laboratories, blood banks, and others. The blood collection devices market, based on geography, is segmented into North America (US, Canada, and Mexico), Europe (France, Germany, Italy, UK, Spain, and Rest of Europe), Asia Pacific (Australia, China, Japan, India, South Korea, and Rest of Asia Pacific), Middle East & Africa (Saudi Arabia, UAE, South Africa, and Rest of Middle East & Africa), and South & Central America (Brazil, Argentina, Rest of South & Central America)

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