Newark, May 03, 2022 (GLOBE NEWSWIRE) -- As per the report published by The Brainy Insights, the global blood collection market is expected to grow from USD 10.30 billion in 2021 to USD 18.15 billion by 2030, at a CAGR of 6.5% during the forecast period 2022-2030.
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The growing geriatric population contributes to the rising number of individuals suffering from chronic diseases such as diabetes, cardiovascular diseases, & respiratory diseases. The changing lifestyle pattern with the increasing prevalence of sedentary lifestyle and consumption of unhealthy food has led to increased lifestyle disorders such as obesity, low BMI, immunodeficiency in the population. Lack of precautionary steps to prevent road accidents has led to the loss of 1.35 million people every year globally. These factors will contribute to the growth of the blood collection market. Diagnosis of chronic & lifestyle diseases is made through blood analysis. The victims & survivors of road accidents need lifesaving surgical interventions, and surgeries demand blood for the patient during the surgical procedures. Lack of storage and shipping infrastructure in medicine can hamper the market's growth. Blood and blood samples need to be kept under strict temperature & pressure limits. Otherwise, the integrity of the content is lost, resulting in poor blood analysis and misguided prognosis. Market players are investing heavily in developing better medical equipment for blood collection. Improved medical devices and infrastructure will provide lucrative opportunities for the global blood collection market.
Competitive Strategy
To enhance their market position in the global blood collection market, the key players are now focusing on adopting the strategies such as product innovations, mergers & acquisitions, recent developments, joint ventures, collaborations, and partnerships.
• Greiner Bio-One announced a collaborative partnership with another significant player of the blood collection market, Haematologic Technologies. The collaboration will facilitate the end-to-end development of blood collection tubes. They are also planning to provide custom manufacturing for clinical diagnostic device developers.
Market Growth & Trends
In the initial months of the pandemic, the only preventive measures to stop the spread of the virus were contact tracing & testing. To cope with the rising number of infections and a similar rise in the need for testing facilities, governments set up new laboratories. The investments in the development of new laboratories augur well for the blood collection market. One of the treatment options for corona was plasma transfusion, which also provided a push to the blood collection industry. The growing geriatric population and rising health concerns have increased the demand for regular health checkups, contributing to the market's growth. The increasing government initiatives to spread awareness about blood donations and rising healthcare infrastructure expenditures are expected to significantly contribute to the blood collection market. Medical advancements like the development of siliconized needs that reduce vein perforation or innovative vein illumination & visualization techniques for patients with difficult venous access (DVA) will expand the market. The rising adoption of corporate health check-ups for maintaining employee productivity will also contribute to market expansion. However, product recalls may hinder the growth of the market as it creates a trust deficit with the market players.
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Key Findings
• In 2021, the tubes segment dominated the market with the largest market share of 27% and market revenue of 2.78 billion.
The product type segment is divided into syringes, needles, tubes, lancets, blood bags, vials, & others. In 2021, the tubes segment dominated the market with the largest market share of 27% and market revenue of 2.78 billion.
• The diagnostics segment is expected to grow at the fastest CAGR of 7.8% over the forecast period.
The application segment is divided into diagnostics and treatments. Over the forecast period, the diagnostics segment is expected to grow at the fastest CAGR of 7.8%.
• In 2021, the manual segment accounted for the largest share of the market, with 58% and market revenue of 5.97 billion.
The method type segment is divided into manual & automated. In 2021, the manual segment accounted for the largest share of the market, with 58% and market revenue of 5.97 billion. The manual blood collection method is the most well-known, trusted, and conformable system for an average individual.
• In 2021, the hospitals' segment dominated the market with the largest market share of 48% and market revenue of 4.94 billion.
The end-user segment is divided into hospitals, diagnostic centers, blood banks, & others. In 2021, hospitals dominated the market with the largest market share of 36% and market revenue of 41.59.97 billion. Hospitals are the primary health care providers; aid from the government makes them affordable for families with humble incomes. Hospitals have all the necessary infrastructure and logistics required for any treatments, savingthe patients' time.
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Regional Segment Analysis of the Blood Collection Market
• North America (U.S., Canada, Mexico)
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
Among all regions, the North American region emerged as the largest market for the global blood collection market, with a market share of around 34.5% and 3.55 billion of the market revenue in 2021. Due to several significant players in this region, North America is the greatest contributor in terms of market revenue. The Asia Pacific is expected to rise the fastest during the forecast period. The increasing government initiatives to boost medical tourism and create awareness about chronic & lifestyle diseases that can be identified early on with regular health check-ups are expected to significantly contribute to the Asia Pacific blood collection market. The growing geriatric population coupled with increasing investments in healthcare infrastructure in the region will provide an impetus to the market growth.
Key players operating in the global blood collection market are:
• Becton Dickinson and Company
• Greiner Bio One International GmbH
• Cardinal Health
• Medline Industries Inc.
• Henry Schein Inc.
• Haemonetics Corporation
• F.L. Medical SRL
• McKesson Corporation
• Macopharma
• Fresenius Kabi AG
This study forecasts revenue at global, regional, and country levels from 2019 to 2030. The Brainy Insights has segmented the global blood collection market based on the below-mentioned segments:
Global Blood Collection Market by Product Type:
• Syringes
• Needles
• Tubes
• Lancets
• Blood Bags
• Vials
• Others
Global Blood Collection Market by Application:
• Diagnostics
• Treatment
Global Blood Collection Market by Method Type:
• Manual
• Automated
Global Blood Collection Market by End User:
• Hospitals
• Diagnostic Centers
• Blood Banks
• Others
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About the report:
The global blood collection market is analyzed based on value (USD Billion). All the segments have been analyzed on a worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report offers an in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes porter's five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
About The Brainy Insights:
The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients' objectives of high-quality output within a short span of time. We provide both customized (clients' specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients' requirement whether they are looking to expand or planning to launch a new product in the global market.
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