Newark, New Castle, USA, June 21, 2023 (GLOBE NEWSWIRE) -- According to the most recent study by Growth Plus Reports, the global blood collection devices market was valued at US$ 5.20 billion and is expected to rise at a revenue CAGR of 4.9% to reach US$ 7.99 billion by 2031.
The global market for blood collection devices was analyzed, and it is expected to rise significantly during the forecast period. Blood samples are taken from patients using blood collection equipment for various medical uses, such as diagnosis, treatment, and research.
Recent Development in the Global Blood Collection Devices Market:
- In February 2023, with its new TassoOne Plus high-volume liquid blood collection device, Tasso got CE mark clearance. The newest device, according to the maker, complies with all major performance and safety criteria as well as the new European Union Medical Device Regulation.
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Blood Collection Devices Market Scope
| Report Attribute | Details |
| Market size Value in 2022 | US$ 5.20 billion |
| Market Size Value in 2031 | US$ 7.99 billion |
| Growth Rate | CAGR of 4.9% from 2023 to 2031 |
| Base Year for Estimation | 2022 |
| Forecast Period | 2023 to 2031 |
| Historical Year | 2021 |
| Segments Covered | Product Type, Application, End User, and Region |
| Regional Scope | North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
Key Takeaways:
- The rising prevalence of infectious diseases, accidents, and trauma cases is driving the market revenue growth.
- The increasing rates of blood-borne diseases are also driving the global market with a large revenue share.
- Several advancements and increasing biomedical R&D activities are creating a strong product pipeline.
Market Drivers and Restraints:
Growing demand for advanced equipment, better healthcare infrastructure, research and development activities, and increased public awareness of illnesses and early diagnosis all have a beneficial influence on the market for blood collection devices.
However, for manufacturers, it might be difficult to strike a balance between the need for reasonably priced blood collection equipment and the escalating expenses of R&D, production, and regulatory compliance.
Market Segmentation:
Segmentation By Product Type
Based on product type, the global blood collection devices market is segmented into syringes, blood bags, blood collection tubes, lancets, and others. Due to the rising demand and non-reusability, the syringe segment accounts for a sizable revenue share in the global blood collection devices market.
Segmentation By Application
Based on applications, the global blood collection devices market is segmented into diagnostics and treatment. Due to the increasing R&D activities and the high demand for the adoption of blood collection products, the diagnostics segment accounts for the largest market revenue share.
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Segmentation By End-User
Based on the end-user, the global blood collection devices market is segmented into hospitals, ambulatory surgical centers, and others. The hospital segment, with its large revenue share, is dominating the global market. The segment's significant revenue growth is attributed to the development of liquid biopsy technology, exposure to global trends, and the need for the highest standards of patient care.
Regional Growth Dynamics
Based on the region, the global blood collection devices market is segmented into North America, Asia Pacific, Latin America, Europe, and the Middle East & Africa. Due to the availability of a sophisticated healthcare system and a rising need for advanced healthcare systems in this region, North America accounts for the most significant revenue share in the global market.
Competitive Landscape
Following is a list of the top market players operating in the global market for blood collection devices:
- 3M Company
- Cardinal Health
- Smith & Nephew plc
- DermaRite Industries LLC
- ConvaTec Group plc
- B. Braun Melsungen AG
Report Coverage
Growth Plus Reports studied the global market for blood collection devices in-depth and analyzed the basic market characteristics, significant investment areas, analytics of regional growth, revenue forecast, competitive market players, mergers, and acquisitions.
Table of Content
- INTRODUCTION
- Market Ecosystem
- Timeline Under Consideration
- Historical Years – 2021
- Base Year – 2022
- Forecast Years – 2023 to 2031
- Currency Used in the Report
- RESEARCH METHODOLOGY
- Research Approach
- Data Collection Methodology
- Data Sources
- Secondary Sources
- Primary Sources
- Market Estimation Approach
- Bottom Up
- Top Down
- Market Forecasting Model
- Limitations and Assumptions
- PREMIUM INSIGHTS
- Current Market Trends (COVID-19 Perspective)
- Key Players & Competitive Positioning (2022)
- Regulatory Landscape
- MARKET DYNAMICS
- Drivers
- Restraints/Challenges
- Opportunities
- GLOBAL BLOOD COLLECTION DEVICES MARKET - ANALYSIS & FORECAST, BY PRODUCT TYPE
- Syringes
- Blood Bags
- Blood Collection Tubes
- Lancets
- Others
- GLOBAL BLOOD COLLECTION DEVICES MARKET - ANALYSIS & FORECAST, BY APPLICATION
- Diagnostic
- Treatment
- GLOBAL BLOOD COLLECTION DEVICES MARKET - ANALYSIS & FORECAST, BY END USER
- Hospitals
- Blood Banks
- Home Care Settings
- Others
BLOOD COLLECTION DEVICES MARKET TOC
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VALUE PROPOSITIONS RELATED TO THE REPORT:
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- Comprehensive quantitative and qualitative insights at segment and sub-segment level
- Covid 19 impact trends and perspective
- Granular insights at global/regional/country level
- Deep-rooted insights on market dynamics (drivers, restraints, opportunities) and business environment
- Blanket coverage on competitive landscape
- Winning imperatives
- Exhaustive coverage on 'Strategic Developments' registered by leading players of the market.
CUSTOMIZATION OPTIONS:
- Distributor Landscape Assessment
- Pricing Intelligence
- Customer Base Assessment
- Investment & Initiatives Analysis
- 'Business Profile' of Key Players
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