Blood collection devices play a vital role in diagnosing various illnesses and diseases by allowing healthcare providers to safely collect and transport blood samples for laboratory testing. Advances in materials, design, and automation have led to the development of novel blood collection technologies such as safety-engineered sharps that prevent needlestick injuries and closed collection systems that minimize user contact with needles and blood samples. These innovations help ensure optimal sample quality while protecting healthcare workers from exposure to infectious agents. The global Blood Collection Devices Market is estimated to be valued at US$ 9,244.72 Mn in 2023 and is expected to exhibit a CAGR of 6.1% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The adoption of advanced blood collection technologies is expected to significantly drive market growth over the forecast period. Continuous investments by major players to develop innovative safety devices such as needlestick prevention technology and closed blood collection systems that minimize contamination risks and ensure sample integrity are increasing the uptake of advanced blood collection products among healthcare facilities. Additionally, high demand for safe blood collection practices from healthcare professionals due to the ongoing COVID-19 pandemic is boosting the demand for advanced safety-engineered devices. Rising awareness about the benefits of advanced blood collection solutions for accurate diagnosis and infection control is anticipated to further augment the demand.
Segment Analysis
The global blood collection devices market is segmented into needles & syringes, blood collection tubes, blood bags, lancets, and others. Amongst these, the needles & syringes segment currently dominates the market owing to increasing prevalence of chronic and infectious diseases. This segment is expected to continue its dominance during the forecast period due to rising number of surgical procedures that require blood collection through intravenous route.
Key Takeaways
The global blood collection devices market is expected to witness high growth during the forecast period of 2023 to 2030. It is projected to grow at a CAGR of 6.1% during this period. By 2030, the market size is anticipated to reach US$ 15,256.98 Mn.
Regional analysis
North America currently dominates the global blood collection devices market. The major factors driving the market growth in the region include growing burden of chronic diseases, expanding geriatric population, rising number of blood donations and transfusion procedures. Asia Pacific is expected to be the fastest growing market during the forecast period owing to increasing healthcare spending, growing medical tourism, rising awareness about blood donation.
Key players
Key players operating in the blood collection devices market include Becton Dickinson and Co, Terumo Corp, Cardinal Health Inc, SARSTEDT AG & Co KG, Nipro Corp, Thermo Fisher Scientific Inc, Sekisui Chemical Co Ltd, Greiner Bio-One International GmbH, FL Medical SRL, and IntervacTechnology OU. Becton Dickinson and Co currently leads the market share followed by Terumo Corp owing to their robust product portfolio and widespread geographic presence across major markets.
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