Blood Collection Device Market Outlook 2032
The global blood collection device market size was USD 13 Billion in 2023 and is likely to reach USD 26.6 Billion by 2032, expanding at a CAGR of 8.3% during 2024–2032. The market growth is attributed to the increasing demand for diagnostic tests and advanced technologies.
Blood collection devices are medical instruments used to extract blood from veins or fingertips for diagnostic testing, monitoring treatment effectiveness, and blood transfusions. Common types of these devices include syringes and needles, which are hollow tubes with plungers used to draw blood into vials. The blood collection device market is expected to continue growing in the coming years. This market holds immense potential to improve healthcare delivery, enhance patient experiences, and contribute to advancements in diagnostics and personalized medicine by embracing technological advancements and addressing existing limitations. For instance,
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According to the European Blood Alliance, NHS Blood, and Transplant collects approximately 1.7 million voluntary donations, while the Scottish National Blood Transfusion Service handles around 250,000 donations annually from a donor base of 140,000.
Syringes are used in the diagnose of medical conditions such as anemia, infection, and diabetes, while needles are used to replace lost blood or provide clotting factors. Vacutainer systems are efficient blood collection devices that use a vacuum to draw blood into a tube. Butterfly needles are used for children or adults with small veins, while safety needles have a sheath to reduce needlestick injuries. Fingertip collection devices collect small amounts of blood from fingertips, often used for blood sugar testing.
Impact of Artificial Intelligence (AI) in the Blood Collection Device Market
Artificial Intelligence integrated into blood collection devices for self-calibration, automated error checking, and data transmission. AI algorithms predict maintenance needs and prevent downtime, ensuring device reliability. AI also be used in designing next-generation devices with improved functionalities and features for specific applications.
AI-powered systems improve efficiency and accuracy in blood draws by automating vein puncture, real-time blood sample analysis, and automated sample handling & processing. These systems analyze patient anatomy, monitor sample quality, and automate tasks such as labeling and sorting. AI also reduces pain by optimizing needle insertion techniques and patient responses. Personalized blood draw protocols based on patient factors make the procedure more comfortable. AI-powered mobile apps provide real-time guidance before, during, and after blood draws, reducing anxiety and improving the overall experience.
Blood Collection Device Market Dynamics
Major Drivers
Increasing demand for diagnostic tests is driving the market. The rising chronic disease and growing focus on early detection and diagnosis is boosting the market. Healthcare workers are increasingly focusing on improved safety and efficiency through retractable needles and needleless collection devices. Advanced technologies such as vain visualization and automated phlebotomy systems reduce patient discomfort and streamline workflow, propelling the market.
Existing Restraints
High cost of advanced devices and reimbursement challenges are imposing restrains in the market. Moreover, operating and maintaining complex blood collection devices require specialized training for healthcare workers. A lack of skilled personnel in some regions limit the widespread adoption of these devices.
Emerging Opportunities
Miniaturized blood collection devices utilizing microfluidics enable rapid and on-site testing, offering growth opportunities in the market. This revolutionizes patient care by providing quick diagnoses and personalized treatment plans. Furthermore, the integration with biosensors and wearables is expected to impose opportunities in the coming years.
Scope of the Blood Collection Device Market Report
The market report includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Blood Collection Device Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2023
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Historic Data
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2017–2022
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Forecast Period
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2024–2032
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Segmentation
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Product (Needles & Syringes, Blood Collection Tubes, Blood Bags, Lancets, and Others), Material (Plastic, Glass, Stainless Steel, and Ceramic), Method (Automated and Manual), Application (Diagnostics, Treatment, and Therapeutics), and End-user (Hospitals and Pathology Laboratories, Diagnostic Centers, Blood Banks, and Others)
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Regional Scope
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, Market Trends, and Revenue Forecast
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Key Players Covered in the Report
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Becton, Dickinson and Company (BD); Cardinal Health; FL Medical; Greiner Bio-One International GmbH; Haemonetics Corporation; Nipro Corporation; SARSTEDT AG & Co. KG; Sekisui Chemical Co Ltd; Terumo Corporation; and Thermo Fisher Scientific Inc.
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Market Segment Insights
Regional Analysis
In terms of region, the global blood collection device market is classified as Asia Pacific, North America, Latin America, Europe, and the Middle East & Africa. North America dominates the global market in 2023, owing to advanced medical infrastructure. Furthermore, the high healthcare expenditure and large prevalence of chronic disease is expected to fuel the market in this region significantly during the forecast period. Moreover, the regulatory bodies in North America enforce strict regulations regarding patient safety and sample integrity. This fosters the development and adoption of high-quality blood collection devices that meet these standards, boosting the North America market.
The market in Asia Pacific is projected to grow at a significant pace in the years to come, owing to rising disposable income and growing aging population. Increasing government initiatives prioritizing healthcare infrastructure and development as well as rising access to medical services are expected to drive the market in Asia Pacific throughout the forecast period.
Segment Analysis
Product Segment Analysis
Based on product, the blood collection device market is divided into needles & syringes, blood collection tubes, blood bags, lancets, and others. The blood collection tubes segment held a large share in the global market in 2023, owing to the high consumption rates. The advancements and specialization in blood collection tubes is constantly evolving with new features such as barcodes for tracking and pre-filled activities for specific tests, propelling the segment.
The needles & syringes segment is anticipated to expand at a substantial CAGR during the forecast period, as it is essential for blood withdrawal. These are specifically designed for safe and efficient blood withdrawal, minimizing patient discomfort, and ensuring sample integrity. Furthermore, the regular replacements for needles and syringes are required due to their single use for safety reasons, which leads to a steady demand for replacements, fueling the segment.
Material Segment Analysis
On the basis of material, the global market is segregated into plastic, glass, stainless steel, and ceramic. The plastic segment is anticipated to register a considerable CAGR in during the forecast period, due to its cost-effectiveness. Moreover, the advancements in technology, such as development of plastic tubes that are lightweight and easy to handle, reduce the risk of breakage during transportation and storage, boosting the segment.
The glass segment is projected to register a robust growth rate during the assessment years, owing to the qualities of glass such as heat resistance and chemical inertness. Glass offers excellent chemical inertness as compared to plastic. This means it has a low risk of interacting with blood components or introducing contaminants, which is crucial for certain specialized tests where maintaining sample integrity is paramount. Additionally, the reusability option makes it a cost-effective solution, propelling the segment.
Method Segment Analysis
In terms of method, the global market is bifurcated into automated and manual. The automated segment holds a major share of the market, owing to its efficiency and speed. Automated devices collect blood samples faster and more consistently than manual methods. Moreover, the reduced errors in blood collection are leading to accurate sample collections and improved patient safety, driving the segment.
Application Segment Analysis
On the basis of application, the blood collection device market is segmented into diagnostics, treatment, and therapeutics. The diagnostics segment registers a robust growth rate in 2023, owing to its widespread use in medical testing. Blood tests are crucial for medical diagnosis, assessing blood health, organ function, diabetes management, infection detection, transfusion compatibility, and genetic testing. Additionally, the high frequency of blood draws and advancements in diagnostics, specializing blood collection devices and point of care device, are driving the segment.
The treatment segment is expected to expand at a significant growth rate over the projection period, due to the blood collection for treatment managements. Blood collection devices are essential for monitoring treatment effectiveness, including clotting times, blood sugar levels, chemotherapy cell counts, and infection signs after surgery or transplants. Blood collection devices are essential for the safe and efficient collection and administration of blood transfusions required in various treatment scenarios such as blood loss during surgery, severe injuries, or blood disorders, propelling the segment.
Segments
The blood collection device market has been segmented on the basis of
Product
- Needles & Syringes
- Blood Collection Tubes
- Blood Bags
- Lancets
- Others
Material
- Plastic
- Glass
- Stainless Steel
- Ceramic
Method
Application
- Diagnostics
- Treatment
- Therapeutics
End-user
- Hospitals & Pathology Laboratories
- Diagnostic Centers
- Blood Banks
- Others
Region
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
Competitive Landscape
Key players competing in the global blood collection device market are Becton, Dickinson and Company (BD); Cardinal Health; FL Medical; Greiner Bio-One International GmbH; Haemonetics Corporation; Nipro Corporation; SARSTEDT AG & Co. KG; Sekisui Chemical Co Ltd; Terumo Corporation; and Thermo Fisher Scientific Inc.
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In January 2023, Greiner announced that it had maintained its sustainable transformation process despite challenges in 2023.
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In September 2022, Cardinal Health introduced new solutions to improve financial health for specialty practices.
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In July 2020, Magnolia Medical launched Steripath Gen2 with integrated syringe, addressed to the patients with difficult intravenous access (DIVA) or the 'hard stick' patient population
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