Blood Collection Market Outlook 2031
The Blood Collection Market size was USD 5.05 Billion in 2022 and is likely to reach USD 7.97 Billion by 2031, expanding at a CAGR of 5.2% during 2023–2031. The growth of the market is attributed to the increasing prevalence of infectious diseases as well as rising number of accident and trauma cases.
Blood collection is primarily meant for diagnostics to examine the overall health conditions or detect diseases and for treatment of any health disorder or diseases. In general, a large portion of blood collection is mainly conducted under the initiatives of various government agencies and non-governmental organizations through organizing blood donation camps.
These bloods are generally reserved at blood banks associated with hospitals and diagnostic centers to supply when required for blood transfusion of patients. The requirement of blood transfusion normally arises when patients have to undergo surgical operations for the treatment of serious diseases or for the treatment of patients who are severely injured due to trauma or accidents.
As per the 2018 report by World Health Organization (WHO), nearly 1.35 million deaths occurred as a result of road accidents across the globe. Blood collection products are required in the treatment of patients who suffer from chronic diseases and the bloods are used for several applications such as during chemotherapy, complex surgeries, dialysis, and organ or tissue transplantation procedures.
These products are beneficial during the diagnosis of several infectious and non-infectious diseases. According to a report by the American Stroke Association (ASM), in 2018, nearly 836,546 deaths were recorded owing to cardiovascular diseases (CVDs). The association further stated that around 2,300 people dies every day due to cardiovascular diseases in the US. Additionally, around 92.1 million individuals in the country have been diagnosed with some form of heart ailments.
Blood Collection Market Drivers, Restraints, Trends, and Opportunities
- Prevalence of non-communicable diseases and rising cases of chronic illness such as CDVs and diabetes are the major factors driving the market growth.
- Growing number of traumatic accidents and extreme incidence leading to severe physical injury across the globe are further boosting the market growth during the forecast period.
- Rising approval of several technologically advanced products for blood collection such as kits and bags are projected to spur the market growth during the forecast period. For instance, in February 2017, Seventh Sense Biosystems announced the launch of the FDA 510(K) clearance of TAP. It is a push-button blood collection device used for testing of HbA1c levels in patients having pre-diabetes and diabetes.
- Growing demand for liquid biopsy test and vast programs of blood donations are boosting the market growth.
- The outbreak of COVID-19 pandemic had led to the increasing need for testing large number of patients for possible Sars-Cov-2 infection. This results in the shortage of supply for diagnostic kits to test for the virus, which is anticipated to adversely affect the market growth.
Scope of Blood Collection Market Report
The report on the global blood collection market 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 Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016–2021
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Forecast Period
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2023–2031
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Segmentation
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Products (Needles & Syringes, Blood Collection Tubes, Blood Bags, and Others), Applications (Diagnostics and Treatment), and End-users (Hospitals, Diagnostics Centres, 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, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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Terumo Corp.; Abbott Laboratories; Medtronic Plc; Becton, Dickinson and Company; Qiagen N.V.; NIPRO Medical Corp.; Greiner Holding AG; Sarstedt AG & Co.; Haemonetics Corp.; and FL MEDICAL s.r.l.
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Blood Collection Market Segment Insights
Needles & syringes segment projected to represent a considerable market share
On the basis of products, the global blood collection market is segregated into blood collection tubes, bags, needles & syringes, and others. The needles & syringes segment is projected to represent a considerable market share during the forecast period owing to increasing demand of syringes and needles in diagnosis and surgical procedures.
Moreover, growing adoption in surgical procedures, repeat purchase of diagnostic components, and high affordability of the products are the factors driving the segment growth. The bags segment is expected to grow significantly in the coming years owing to the rising requirement for storage of bloods for future use in case of emergency needs.
These bags consist of anticoagulants or preservatives that ensure optimum storage and effective storage of bloods to meet the needs for increasing number of surgeries and accidents. The increasing number of surgeries and accidents across the globe is boosting the segment growth. For instance, in 2018, according to the American Red Cross statistics, it was projected that the US would need around 36,000 units of RBCs every day.
The blood collection tube segment, however, is expected to expand at substantial CAGR during the forecast period owing to the increasing incidence of diseases and increasing demand for various blood testing methods. Additionally, recent technological development for the tube is the key factor driving the segment growth.
- For instance, Becton, Dickinson, and Company’s Vacutainer Barricor is a plasma blood collection tube that has advanced technology which helps in blood collection and separation, offering improved clinical efficiency, sample quality, improved patient care, and faster test results.
Diagnostic segment anticipated to constitute a large market share
Based on applications, the market is bifurcated into diagnostics and treatment. The diagnostics segment is anticipated to constitute a large market share during the forecast period owing to increasing prevalence of chronic diseases such as cancer, diabetes, and cardiovascular diseases. Growing awareness about regular health checkups and high preference for early detection of diseases are propelling the segment growth.
Diagnostics of a disease requires blood collections products as blood samples are necessary to diagnose the source of infections owing to pathogenic microorganisms and to identify the anomalies in the level of various blood components. For instance, in 2018, according to WHO, 10 million people contracted tuberculosis and 1.5 million people died due to the disease. Thus, increasing number of infectious diseases is pushing the surge in demand for diagnostics, thereby, boosting the segment growth during the forecast period.
Hospital segment anticipated to account for a considerable market share
On the basis of end-users, the global blood collection market is divided into hospitals, diagnostic centers, and blood banks. The hospitals segment is anticipated to account for a considerable market share during the forecast period as majority of patients prefer to visit hospitals as they facilitate advanced diagnosis process and treatment of diseases.
The availability of sophisticated technology enabling faster results and presence of specialized medical staffs in hospitals, which are further expected to fuel the segment growth during the forecast period. As per the 2018 data published by the Centers for Disease Control and Prevention (CDC), the US recorded that around 145.2 million of emergency department visits were taken place and out of which, 42.2 million were injury-related visits.
Rising number of surgical procedures such as liver & kidney transplants and angioplasty lead to increased need for blood transfusions. As the detection of diseases such as malaria, chikungunya, dengue, and yellow fever require various diagnostic testing, the demand for blood collection centers are expected to increase significantly during the forecast period.
North America is anticipated to constitute a major share
In terms of regions, the market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is anticipated to constitute a major market share during the forecast period owing to the presence of well-established healthcare infrastructure, leading clinical diagnostics companies, and increased R&D activities in this region.
- For instance, in August 2019, Q-Sera Pty Ltd. announced that the company received Notice of Allowance from the US Patent & Trademark Office for the patent of Q-Sera’s technology for blood clotting. Furthermore, the growing adoption of advanced technologies and increasing focus on clinical research are further driving the regional market growth.
The market in Europe, however, is estimated to register a high CAGR during the forecast period owing to the rising number of blood donation activities and the presence of key market players in this region. According to the European Blood Alliance, NHS Blood and Transplant collects around 1.5 million voluntary donations every year. Additionally, Scottish National Blood Transfusion Service stated that nearly 250,000 blood donations were conducted every year and has a donor base of 140,000.
Segments
The global blood collection market has been segmented on the basis of
Products
- Needles & Syringes
- Blood Collection Tubes
- Blood Bags
- Others
Applications
End-Users
- Hospitals
- Diagnostics Centers
- Blood Banks
- Others
Regions
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
- Terumo Corp.
- Abbott Laboratories
- Medtronic
- Becton
- Dickinson and Company
- Qiagen N.V.
- NIPRO Medical Corp.
- Greiner Holding AG
- Sarstedt AG & Co.
- Haemonetics Corp.
- FL MEDICAL s.r.l.
Competitive Landscape
Some of the key players in the global blood collection market include Terumo Corp., Abbott Laboratories, Medtronic Plc, Becton, Dickinson and Company, Qiagen N.V., NIPRO Medical Corp., Greiner Holding AG, Sarstedt AG & Co., Haemonetics Corp., and FL MEDICAL s.r.l.
Key players are adopting various strategic initiatives such as product development, collaborations, and regional expansion to acquire a large market share. For instance, in March 2018, BD launched the CE-IVD marked PAXgene Blood ccfDNA tube in Switzerland and the European Economic Area. The product was aimed to ensure better safety of the healthcare worker and provide accurate results.
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