Newark, NJ, Sept. 10, 2020 (GLOBE NEWSWIRE) -- As per the report published by Fior Markets, the global capillary and venous blood sampling market is expected to grow from USD 1.5 billion in 2019 and to reach USD 2.62 billion by 2027, growing at a CAGR of 7.2% during the forecast period 2020-2027.
The capillary and venous blood sampling market is witnessing significant growth from the past years. This growth is attributed to a rise in demand for blood collection and transfusion, a large number of patients undergoing surgical procedures, and a large number of people suffering from chronic diseases like aplastic anemia, leukemia, sickle cell anemia, and traumatic injuries. As diabetes in the major chronic disease in the world and blood glucose test is the primary mode of diagnosis of this disease; thus, the rising prevalence of diabetes is expected to propel the market growth.
Capillary blood sampling is the sampling blood from a puncture on the finger, heel or earlobe. It is less invasive, it can be performed quickly and easily, and it requires a smaller amount of blood volume. Capillary blood sampling requires a less amount of blood for disease diagnosis. A diagnostic procedure that uses an image to insert a catheter into a specific vein and remove blood samples for laboratory analysis is known as venous sampling. Venous blood collection devices include tubes and vacutainer system. The blood is derived by direct puncture to the vein that is located in the antecubital area of the arm or the back of the hand. Abnormal levels of some substances in the blood like hormones indicate the presence of disease in the tissue or organ that produces them. Venous blood sampling is used to identify diseases in different parts of the body; some of them include parathyroid venous sampling, adrenal venous sampling, and various others.
Global capillary and venous blood sampling market is expected to witness significant growth due to the increasing prevalence of diabetes across the world. Capillary blood sampling is expected to witness significant growth, owing to its ease of usage and minimally invasive nature for homecare diagnosis and testing. The availability of point-of-care diagnostics and the increasing number of patients afflicted with diabetes is expected to propel the market growth. Conventional blood sampling techniques like phlebotomy are time-consuming and costly for healthcare facilities, thus hampering the market growth. Major players focusing on point-of-care devices for blood sampling will provide market growth opportunities.
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Key players operating in the global capillary and venous blood sampling market include B. Braun Melsungen AG, Owen Mumford Ltd., Sarstedt AG & Co. KG, Greiner Bio-One International GmbH, Terumo Corporation, Bio-Rad Laboratories, Inc., Cardinal Health, Thermo Fisher Scientific, Inc., and Ypsomed Holding AG. To gain a significant market share in the global capillary and venous blood sampling market, the key players are now focusing on adopting strategies such as product innovations, mergers & acquisitions, recent developments, joint venture, collaborations, and partnership. Freiner Bio-One International GmbH and Bio-Rad Laboratories Inc. are some of the leading manufacturers of capillary and venous blood sampling market.
- For instance, in 2017, Greiner Bio-One International GmbH acquired Vacutte Espana and Vacuette Portugal. This acquisition took place to strengthen the commercial distribution network of Greiner’s blood collection products.
Venous Blood Collection segment dominated the market and held the largest share of 59.21% in the year 2019
On the basis of product type, the global capillary and venous blood sampling market is segmented into capillary blood sampling and venous blood sampling. Venous blood collection segment dominated the market and held the largest share of 59.21% in the year 2019. This growth is attributed to rising clinical laboratories' rising preference for the detection of major chronic diseases as no repeated blood collection process is required.
Hospitals segment dominated the market and held the largest market share of 27.96% in the year 2019
On the basis of end-user, the global capillary and venous blood sampling market is segmented into hospitals, clinics, diagnostic laboratories, blood banks, and home care. Hospitals segment dominated the market and held the largest market share of 27.96% in the year 2019. This growth is attributed to the rising incidence of trauma and increasing diagnostic testing and large inflow of patients. An increase in the number of surgical procedures like angioplasty and kidney and liver transplants has propelled the market growth.
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Regional Segment of Capillary and Venous Blood Sampling 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)
- Middle East and Africa (UAE, South Africa, Rest of MEA)
On the basis of geography, the global capillary and venous blood sampling market is classified into North America, Europe, Asia-Pacific, Middle East & Africa, and South America. North America holds the major share of 29.7% in the year 2019. This growth is attributed to increasing preference for point-of-care testing and government initiatives, an increase in the diabetic population, and new product launches. Europe holds the second-largest share in the capillary and venous blood sampling market. The Asia-Pacific region is expected to witness significant growth. This growth is attributed to the expansion of business organizations and increasing demand for capillary and venous blood sampling devices.
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About the report:
The global capillary and venous blood sampling market is analysed on the basis of value (USD billion). All the segments have been analysed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insights of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, and competitors’ position grid analysis.
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