The blood collection devices market is likely to showcase a robust growth of around 7% during the forecast period (2021-2027).
A comprehensive overview of the blood collection devices market is recently added by UnivDatos Market Insights to its humongous database. The report has been aggregated by collecting informative data from various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the Blood collection devices market globally. This report offers a detailed analysis of the latest industry developments and trending factors that are influencing market growth. Furthermore, this statistical market research repository examines and estimates the global market at regional and country levels. The blood collection devices market is likely to showcase a robust growth of around 7% during the forecast period (2021-2027).
Market Overview
Blood collection refers to the process of taking blood samples from the donor 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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COVID-19 Impact
The COVID-19 outbreak will impact the blood collection devices market in the initial phase of the forecast period. Due to nationwide lockdowns, the blood collection devices market registered a certain decline during the pandemic majorly due to the denied blood donation camps and canceled or postponed elective surgeries by medical care providers due to the high risk of COVID-19. However, during the latter half of the pandemic, the demand for blood collection device products is expected to rise drastically worldwide.
The blood collection devices market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.
By Product, the market is primarily bifurcated into:
· Blood Collection Tubes
· Needles and Syringes
· Blood Bags
· Other
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.
By Application, the market is primarily bifurcated into:
· Diagnostics
· Treatment
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.
By End-User, the market is primarily bifurcated into:
· Hospitals And Diagnostic Centers
· Blood Banks
· Others
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.
Blood collection devices Market Geographical Segmentation Includes:
· North America
Ø United States
Ø Canada
Ø Rest of North America
· Europe
Ø Germany
Ø U.K.
Ø France
Ø Spain
Ø Italy
Ø Rest of Europe
· Asia-Pacific
Ø China
Ø India
Ø Japan
Ø Rest of Asia-Pacific
· Rest of World
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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The major players targeting the market includes:
· 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
Competitive Landscape
The degree of competition among prominent companies has been elaborated by analyzing several leading key players operating globally. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the blood collection devices market. The major players have been analyzed by using research methodologies for getting insight views on market competition.
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Key questions resolved through this analytical market research report include:
· What are the latest trends, new patterns, and technological advancements in the blood collection devices market?
· Which factors are influencing the blood collection devices market over the forecast period?
· What are the global challenges, threats, and risks in the blood collection devices market?
· Which factors are propelling and restraining the blood collection devices market?
· What are the demanding global regions of the blood collection devices market?
· What will be the market size in the upcoming years?
· What are the crucial market acquisition strategies and policies applied by the companies?
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