What is the market for global blood collection devices?
The global blood collection devices market was valued at USD 6.23 billion in 2021, growing at a CAGR of 6.85% during the forecast period from 2022 to 2027 to reach USD 9.25 billion by 2027. The blood collection devices market is slated to witness prosperity owing to factors such as increase in diagnostic tests owing to the growing prevalence of infectious diseases such as COVID-19, malaria, and others, increasing awareness over health, rise in blood transfusion procedures, and the growing focus on improving the safety and usability of blood collection devices for end users are further expected to result in the appreciable revenue growth in the blood collection devices market during the forecast period (2022-2027).
Know which Blood Collection Devices is expected to score the touchdown first @ Blood Collection Devices Market Size
What are the BloodCollection Devices Market Dynamics?
Among the noteworthy drivers of the blood collection devices market, the rising prevalence of infectious diseases leading to a vast array of blood sample collection and testing turns out to be the major factor for accelerating the blood collection devices market. For instance, according to World Health Organization (WHO) 2022, globally there were around 37.7 million people suffering from human immunodeficiency virus (HIV) in the year 2020. One of the diagnostic test for HIV is Nucleic Acid Test (NAT), where blood is drawn from vein and tested for the presence of virus. The test also measures the viral load in a blood sample. Also, as per World Health Organization (WHO) 2022, worldwide there were around 241 million cases of malaria estimated in the year 2020. The blood sample is collected for conducting microscopic diagnosis, serology testing, molecular diagnosis, and drug resistance tests for the detection of malarial parasites in blood.
COVID-19 Impact on the Blood Collection Device Market
The blood collection devices market reported a short period of restraint in market growth due to the implementation of lockdown as necessary measures to prevent the spread of COVID-19 infection leading to suspension of routine diagnostic checkups. Also, during the initial phases owing to the lockdown the manufacturing and supply of blood collected devices was affected leading to further decline in the market. But later due to tremendous increase in the COVID-19 cases the demand for blood testing and plasma donation also increased leading to slight improvement in the blood collection devices market. Moreover with the resumption of activities including routine health checkups, test for other diseases, and others across industries including the healthcare sector, it has been uplifting for the blood collection devices market during the forecast period from 2022-2027.
Learn more for Blood Collection Device Market Research Report @ Blood Collection Device Market Share
What are the drivers for the global blood collection devices market?
The blood collection devices market is slated to witness prosperity owing to factors such as increase in diagnostic tests owing to the growing prevalence of infectious diseases such as COVID-19, and HIV among others, increasing awareness on blood donation, rising demand for routine health check-ups and the growing focus on improving the safety and usability of blood collection devices for end users are further expected to result in the appreciable revenue growth in the blood collection devices market during the forecast period (2022-2027).
What is the Blood Collection Devices Market Segment Analysis?
Blood Collection Devices Market by Product Type (Blood Collection Tubes [EDTA, Heparin, and Others]), Method (Manual and Automatic), End-User (Hospitals and Clinics, Diagnostic Labs, Blood Banks, and Others) Geography (North America, Europe, Asia-Pacific, and Rest of the World). Based on the method segment of the blood collection devices market, the automatic blood collection devices category is projected to register a significant growth in revenue in the blood collection devices market during the forecast period (2022-2027). This can be ascribed to the advantages associated with the automated blood collection devices over traditional blood collection methods. Some of the advantages associated with automated blood collection system are that drawing of blood products became comparatively easier such as only the required volume of the blood will get collected instead of low or extra amount of blood and there is no need of insertion of needles multiple times as in case of manual blood collection system and thus, improving the donor experience. Further, there are less chance of errors in automated blood collection systems. Automated blood collection systems improve the efficiency and quality of blood collection process while maintaining the donor safety.
For further information of the Blood Collection Devices market report @ Blood Collection Devices Market Forecast
Who are the Global Blood Collection Device Market Companies?
Some of the key market players operating in the blood collection devices market includes BD, Terumo Corporation, Haemonetics Corporation, Fresenius SE & Co. KGaA, Nipro Europe Group Companies, FL MEDICAL s.r.l., Greiner Bio-One International GmbH, Cardinal Health, SARSTEDT AG & Co. KG, Thermo Fisher Scientific Inc., ICU Medical, Grifols, S.A, CML Biotech, INTERNATIONAL SCIENTIFIC SUPPLIES LTD, Demophorius Healthcare LTD, AB MEDICAL Co., Ltd., Trajan Scientific and Medical, Macopharma, VOGT MEDICAL, Ljungberg & Kögel AB, and others.
Which region has the highest share in the Blood Collection Devices Market?
North America is expected to dominate the overall blood collection devices market during the forecast period, 2022 to 2027. This can be ascribed to the presence of large patient pool associated with multiple diseases such as cancer, anaemia and others, rise in voluntary blood donation, increase in blood transfusion procedures in the region, high tech medical facilities, government initiatives, and a highly potent market in terms of product development and launches, and the local presence of key market players among other factors in the region.
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