Global Blood Collection Market Size, Trends & Analysis - Forecasts to 2026 By Product (Blood bags, Blood Collection Tubes [Plasma-separating, Heparin, Serum-separating, EDTA], Needles & Syringes, and Others]); By Application (Treatment, and Diagnostics); By End-Users (Blood Banks, Diagnostics, Hospitals, and others); By Region (North America, Europe, Asia Pacific, MEA, and CSA); End-User Landscape, Vendor Landscape, and Company Market Share Analysis & Competitor Analysis
Blood collection is a procedure that involves the routine collection of blood to achieve blood count for a variety of laboratory tests and analysis. Blood collection has played a vital role in curing patient's disorders and has persisted as a diagnostic tool in laboratory medicine. Automated equipment is used for the collection of specific components of blood or blood can be collected manually. According to the GME report, the blood collection market is projected to grow at a CAGR of 6.5% during 2020-2026.
The increasing number of trauma & accident cases, the rising prevalence of infectious disease, and non-communicable diseases are the major factors contributing to the blood collection market. Besides government initiative about blood donation and an increase in the number of approvals for innovative and advanced products is anticipated to build the market demand for blood collection. The percentage of the market share of blood collection is expected to grow in the conjecture period due to increased use of blood collection products in the treatment of patients suffering from severe chronic diseases specifically in complex surgeries, organ transplantation, and dialysis procedures. In recent times COVID-19 is turned out to be an unprecedented challenge for global healthcare and is projected to show a significant impact on the blood collection market in the year 2020.
The product involved in blood collection can be explained as blood bags, blood collection tubes, needles & syringes, and others. From the above product list needles & syringes are the dominating segments of the blood collection market. The business is further expected to proliferate owing to repeat purchases, high adoption, and high affordability of the segment. Increasing demand for needles & syringes in surgical procedures and diagnosis of the disease is another market building factor for the segment.
Treatment and diagnostics are the two classifications of blood collection. The diagnostics domain is estimated to grow at a higher rate in the coming years as compared to the treatment segment. The increasing number of chronic disease patients and growing awareness among patients about regular health checkups. To identify the source of infection caused due to pathogenic microorganisms blood collection products are predominantly used in diagnostic
Blood banks, diagnostics, hospitals, and others are the bifurcations of the end-users of the blood collection products. Hospitals are the largest market share building segment of the blood collection market as they serve as the primary center for treatment and diagnosis of any disease. The increasing percentage of chronic disease holding patients and with increasing diagnostic and screening testing is the key factor directly building the market for blood collection market.
Asia-Pacific is estimated to grow at the fastest rate owing to the increasing chronic disease population, improving healthcare, and improving medical facilities. Also increasing disposable income and accelerating prevalence of sepsis and HAI in the APC region is adding values to the blood collection market. The market is further expected to maintain the momentum of the market as the key manufacturers are growing in the region who are creating lucrative opportunities for the market to proliferate
The key players operating in the market include MicsafeMedical Group Limited, Grifols, Nipro Medical Corporation, Greiner Holding, Quest Diagnostics, Macopharma, Smiths Medical, Kawasumi Laboratories, SARSTEDT AG & Co., Retractable Technologies, LiuyangSanli Medical Technology Development, AB Medical, APTCA SPA, F.L. Medical S.R.L, Ajosha Bio Teknik Pvt. Ltd., Preq Systems, LmbTechnologie GmbH, Mitra Industries Private Limited, Neomedic Limited, and CML Biotech among others.
Please note: This is not an exhaustive list of companies profiled in the report.
In July 2020, F.L. Medical S.R.L launched Vacumed Tech a new blood collection set having a pre-attached holder
In November 2019, Sanli Medical Technology Development became the only company in China that produced glass sterilized tubes and the automatic production of blood collection and needles that reached 74 countries around the world.
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The Global Blood Collection Market has been studied from the year 2017 till 2026. However, the CAGR provided in the report is from the year 2018 to 2026. The research methodology involved three stages: Desk research, Primary research, and Analysis & Output from the entire research process.
The desk research involved a robust background study which meant referring to paid and unpaid databases to understand the market dynamics; mapping contracts from press releases; identifying the key players in the market, studying their product portfolio, competition level, annual reports/SEC filings & investor presentations; and learning the demand and supply side analysis for the Blood Collection Market.
The primary research activity included telephonic conversations with more than 50 tier 1 industry consultants, distributors, and end-use product manufacturers.
Finally, based on the above thorough research process, an in-depth analysis was carried out considering the following aspects: market attractiveness, current & future market trends, market share analysis, SWOT analysis of the companies and customer analytics.
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