New York, United States , May 17, 2023 (GLOBE NEWSWIRE) -- The Global Blood Collection Devices Market Size to grow from USD 7.2 billion in 2021 to USD 13.9 billion by 2030, at a Compound Annual Growth Rate (CAGR) of 6.3% during the forecast period. Blood collection is the process of extracting blood samples from the donor so that laboratory diagnostic tests can be run while the patient is being treated. In both hospitals and blood bank facilities, the entire procedure is regarded as a crucial and integral part of the blood management process.
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Over the forecast period, it is anticipated that the market for blood collection devices will expand significantly. due to a number of variables, including an ageing population, a growth in the prevalence of chronic diseases, technological developments in blood collection devices, and growing public awareness of the value of blood testing. Additionally, the market for blood collection devices is expected to benefit from government funding for blood collection devices, increasing development activity in the desert, and other factors.
The key factor restricting the growth of the global blood collection devices market may be the high cost associated with automated blood collection devices. The development of the industry will also be hampered by the lack of adequate testing in developing nations and occasional product recalls of blood collection devices.
COVID 19 Impact
The COVID 19 pandemic outbreak is projected to have a favourable effect on the global market for blood collection devices because blood testing uses a variety of blood samples to diagnose infectious diseases like COVID 19. Testing is therefore a crucial step in preventing the spread of COVID 19. Governments in several nations began looking into the possibility of allowing commercial laboratories to expand blood testing as COVID 19 cases began to rise around the globe. In addition, the pandemic has caused the blood stores to start declining. This is due to the fact that numerous patients with compromised immune systems were hospitalised and desperately need plasma or blood transfusions.
Browse key industry insights spread across 200 pages with 130 market data tables and figures & charts from the report on “Global Blood Collection Devices Market Size, Share, and COVID-19 Impact Analysis By Type (blood collection tubes, needles, and syringes, blood bags, blood collection systems or monitors, system type, lancets, others), By End User (hospitals, ambulatory surgical centre and nursing, homes, blood bank, diagnostic and pathology laboratories, others), by Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2021 – 2030." Get Detailed Report Description Here:
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Type Insights
Blood Collection Tubes segment holds the largest market share over the forecast period
On the basis of type, the global blood collection devices market is segmented into blood collection tubes, needles, and syringes, blood bags, blood collection systems or monitors, system type, lancets, others. Among these, blood collection tube segment holds the largest market share over the forecast period. They serve as tubes for whole blood collection, heparin, glucose, coagulation, serum separation, EDTA, and ESR measurements. Because they are made with different types of additives required for various purposes, blood collection tubes are more user-centric.
End User Insights
Diagnostic and Pathology Laboratories segment to hold the highest revenue share over the forecast period
On the basis of end user, the global blood collection devices market is segmented into hospitals, ambulatory surgical centre and nursing, homes, blood bank, diagnostic and pathology laboratories, others. Among these, diagnostic and pathology laboratories segment is anticipated to holds the highest revenue share over the forecast period. These facilities try to gather patient blood samples and pinpoint the disease's origin. In addition to this, they are working with both public and private hospitals, which has increased their market share. In the current situation, diagnostic and pathology labs have begun dispatching their representatives to the patients' homes to collect blood samples. All of these elements have contributed to the acceleration of segmental growth.
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Regional Insights
North America is dominating the market with the largest market share over the forecast period.
Due to increased R&D efforts, a focus on clinical research, an advanced healthcare infrastructure, and consumer adoption of cutting-edge and innovative technology, North America is leading all other regions in the market for blood collection devices.
On the other hand, Asia Pacific is predicted to see the fastest market growth over the forecast period because of the region's rising disposable income, strong presence of the key market participants, and rising rates of sepsis and HAI.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Global Blood Collection Devices Market include Abbott Laboratories Inc., Medtronic, Inc., Becton Dickinson and Company, Terumo Corporation, Nipro Medical Corporation, Qiagen NV, F.L. Medical SRL, greiner holding ag, Haemonetics Corporation, Sarstedt AG.
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