CHICAGO, Aug. 31, 2020 /PRNewswire/ -- According to the new market research report "Blood Collection Market by Product (Tubes (Plasma (EDTA, Heparin, Glucose), Serum), Blood Bags, Monitors, Needles), Method (Manual, Automated), Application (Diagnostic, Therapeutic), End User (Hospitals & ASCs, Blood Banks, Labs) - Global Forecast to 2025", published by MarketsandMarkets, the Blood Collection Market is projected to reach USD 6.4 billion by 2025 from USD 4.8 billion in 2020, at a CAGR of 6.0% between 2020 and 2025.
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The growth of the global blood collection devices market is largely driven by the increasing incidence of infectious diseases, the rising number of accidents & trauma cases, the emergence of liquid biopsy tests, and a demand for blood donations and blood components. Increasing demand for apheresis, technological advancements in blood collection procedures and products, advancements in blood collection-microsampling and dried blood sampling are expected to offer growth opportunities to market players in the coming years.
Blood Collection Tubes to dominated the blood collection devices market in 2019
Based on the product, the global market is segmented into blood collection devices, needles & syringes, blood collection tubes, blood bags, and lancets. In 2019, the blood collection tubes segment accounted for a larger share of the market. The large share of this segment can be attributed to factors such as multiple samples can be collected from a single venipuncture. Most tubes contain an additive that either accelerates the clotting of the blood (clot activator) or prevents it from clotting (anticoagulant), furthermore multiple tubes can be used for different tests from a single person.
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Diagnostic application segment accounted for the largest share of the blood collection devices market, by application, in 2019
The blood collection devices available in the market are based on two major applications-diagnostic, and therapeutic applications. The diagnostics segment is expected to dominate the market in 2019. This is attributed to factors such as the increasing prevalence of chronic diseases, increasing number of corporate and personal check-ups. This segment further witnessed the highest growth in the market in 2019.
North America is the largest regional market for blood collection devices in 2019
North America (comprising the US and Canada) accounted for the largest share of the global blood collection market in 2019, followed by Europe. Factors such as the increasing prevalence of lifestyle diseases and the rising incidence of blood disorders, better healthcare facilities, and the presence of major manufacturers in the region are stimulating the growth of the blood collection devices market in North America.
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Prominent players in the blood collection market are Becton, Dickinson and Company (US), Terumo BCT (US), Fresenius Kabi AG (Germany), Grifols, S.A. (Spain), Nipro Medical Corporation (Japan), Quest Diagnostics (US), SARSTEDT AG (Germany), Haemonetics Corporation (US), Greiner Bio-One (Austria), and Smiths Medical (US).
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