Blood collection devices are medical tools used for drawing blood from patients for diagnostic and therapeutic purposes. Devices such as needles, vacuum tubes, and syringes facilitate safe, sterile and easy withdrawal of blood from veins for laboratory analysis and transfusion purposes. Blood collection devices help clinicians efficiently collect blood samples from patients suffering from chronic diseases such as diabetes, cardiovascular diseases and cancer which require frequent monitoring.
The global Blood Collection Devices Market is estimated to be valued at US$ 8.7 billion in 2023 and is expected to exhibit a CAGR of 6.1% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the key trends driving the growth of the blood collection devices market is the rising prevalence of chronic diseases globally which require regular blood tests. Chronic illnesses have become one of the biggest health challenges worldwide. According to the World Health Organization (WHO), chronic diseases accounted for approximately 63% of all deaths in 2020. The prevalence of lifestyle diseases fueled by risk factors such as smoking, excessive alcohol intake and physical inactivity is continuously growing over the years. Increasing incidences of chronic diseases augment the demand for advanced diagnosis and treatment which involves routine collection and analysis of blood samples. This acts as a major growth driver for the blood collection devices market. Development of innovative blood collection solutions catering to specific clinical needs further supplements the market expansion.
Segment Analysis
The global blood collection devices market can be segmented based on product type, end user, and region. Based on product type, the segment can be further divided into blood collection tubes, needles and syringes, blood bags, blood lancets, and blood collection devices. Among these, the blood collection tubes segment dominates the market as they are cost-effective and are used in majority of blood collection processes for diagnostic purposes. However, the blood bags segment is expected to witness high growth during the forecast period due to increasing number of blood donations and rising prevalence of chronic diseases.
Key Takeaways
The global blood collection devices market is expected to witness high growth. The global Blood Collection Devices Market is estimated to be valued at US$ 8.7 billion in 2023 and is expected to exhibit a CAGR of 6.1% over the forecast period 2023-2030.
The North America region currently dominates the global blood collection devices market. This is primarily attributed to the presence of developed healthcare infrastructure, rising prevalence of chronic and infectious diseases, presence of key players, and growing awareness about blood donations in the region. The Asia Pacific region is expected to witness the highest growth during the forecast period owing to rapidly growing aging population, increasing healthcare expenditure, growing penetration of modern blood collection technologies, and rising incidence of lifestyle diseases in countries such as China and India.
Key players related content comprises
Key players operating in the blood collection devices market are Becton, Dickinson and Company, Terumo Corporation, Greiner Bio One International GmbH, Medtronic Plc, FL MEDICAL srl, Haemonetics Corporation, Quest Diagnostics, Abbott Laboratories, NIPRO Medical Corporation, and QIAGEN N.V.
Becton, Dickinson and Company is one of the leading players in the global blood collection devices market. It offers a wide range of blood collection tubes, needles and syringes, blood collection sets, and other related devices. Terumo Corporation also offers an extensive line of blood collection products including venous blood collection needles, capillary blood collection devices, and blood collection tubes.
