Vacuum Blood Collection Tubes Market Size - Forecasts to 2026
Global Vacuum Blood Collection Tubes Market Insights
The global vacuum tube for blood collection market is estimated to grow at a significant CAGR of 7.72% during the forecast period. The market is driven by factors such as rising healthcare expenditure, increase in public and private investment in healthcare and development in healthcare infrastructure. The market is estimated to generate revenue of USD 4,084.88 million by 2026.
Vacuum blood collection tubes are used extensively in daily testing at hospitals and medical research institutions. There has been a steady increase in demand for safe and reliable equipment and antiseptic techniques for blood collection. The number of blood tests conducted for diagnosis of diseases such as diabetes, HIV, anemia, and cardiovascular diseases are on the rise in developing countries as well. These factors are further expected to fuel growth in the vacuum blood collection tubes market. However, lack of know-how and risks associated with blood transfusion are some factors likely to have a negative impact on market growth.
Global Vacuum Blood Collection Tubes Market: By Type
The market can be classified into gel & clot activator tubes, heparin tubes, EDTA tubes and serum tubes based in type. The serum tubes segment is projected to hold the largest market share in terms of revenue owing to rising demand for serum testing in hematology. Serum tubes being anticoagulant are suitable for multiple blood tests as well. The gel & clot activator tubes segment is projected to grow at the highest CAGR during the forecast period. This growth can be attributed to rising applications of the tube in immunology, biochemistry and hematology. Gel & clot activator tubes are also estimated to hold the second largest market share in terms of revenue followed by EDTA tubes and heparin tubes.
Global Vacuum Blood Collection Tubes Market: By End User
Vacuum tubes for blood collection find applications in hospital & clinics and research institutions among others. In hospitals & clinics, vacuum tubes are extensively used for blood testing for patients that require constant monitoring of blood glucose and platelet count among other parameters. The hospitals & clinics segment is therefore estimated to hold the largest market share in terms of revenue throughout the forecast period. The research institutions segment is also expected to register significant CAGR owing to growing investment in medical research across the world.
Global Vacuum Blood Collection Tubes Market: Regional Insights
North America is expected to dominate the market for vacuum tubes for blood collection owing to availability of advanced healthcare infrastructure along with research funding. Europe is anticipated to hold the second largest market share in terms of revenue. The Asia Pacific region is projected to grow at the highest CAGR owing to huge scope for market expansion, investment in healthcare and steady development in quality of healthcare infrastructure.
Global Vacuum Blood Collection Tubes Market: Vendor Landscape
The report contains a chapter dedicated to vendors operating in the market, covering raw material manufactures, equipment developers, manufacturers, and distributors. The report provides these insights on a regional level. This section of the report entails contact details, experience, products manufactured/supplied, and geographical presence of companies.
Global Vacuum Blood Collection Tubes Market: Share & Competitor Analysis
Some of the key players operating in the Vacuum Blood Collection Tubes market are Beckton Dickinson, Sunphoria Co, Narang Medical Ltd., CML Biotech, Bio-X, Thermo Fischer Scientific, Guangzhou Improve Medical Instruments Co Ltd, AB Medical, Sekisui Chemical Co., Ltd, and HEBEI Xinle Sci & Tech Co., Ltd among others.
Please note: This is not an exhaustive list of companies profiled in the report.
In May 2018, Greiner Bio-One International, a medical technology company, added VACUETTE SAFETY Winged Set to its product line of safe blood collection tubes
In October 2018, Thermo Fisher Scientific successfully completed acquisition of Advanced Bioprocessing, one of the subsidiaries of BD (Beckton, Dickinson and Company) for USD 447 million.
In March 2017, AB Medical moved to a new and advanced production centre, which has resulted in increased production capacity to 10 million tubes per month.
Check the Press Release on Global Vacuum Blood Collection Tubes Market Report
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The global Vacuum Blood Collection Tubes 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 Vacuum Blood Collection Tubes 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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