The global blood collection market size is expected to reach USD 7.82 Billion in 2028 and register a revenue CAGR of 6.2% over the forecast period, according to the latest report by Reports and Data. Rising prevalence of lifestyle and chronic diseases and increasing number of trauma and accident cases are some key factors expected to continue to drive market revenue growth over the forecast period. In addition, increasing Point-Of-Care (POC) testing is expected to contribute significantly to revenue growth of the market going ahead.
Prevalence of chronic diseases and illnesses is continuing to grow, and cardiovascular disease accounts for almost half of all chronic disease deaths globally. Obesity and diabetes are indicating worrying trends, not only because diseases now affects a significant portion of the global population, but because diseases have become more prevalent at a relatively young age among individuals. Rising prevalence of lifestyle diseases worldwide, notably in developing countries, is also expected to support market growth. This has led to increased conformity with repetitive medical tests and increasing importance of symptoms to diagnose disease states, primarily through blood collection. Private health testing, and also organizational check-ups for employee well-being, have become more frequent, as blood tests are the primary technique for diagnosing various illnesses. Increasing shift towards adopting health programs by multinational companies and organizations is expected to have favorable impact on market growth. However, storing and shipping complications and high costs of automated blood collection equipment are some key factors expected to restrain market growth to a certain extent over the forecast period.
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Some Key Highlights From the Report:
- Needles & syringes segment is expected to account for largest revenue share during the forecast period due to rapid adoption, recurrent purchasing, and affordable pricing of needles and syringes.
- Diagnostics segment is expected to register robust revenue growth over the forecast period. Increase in disease prevalence and the number of infectious diseases, and rising demand for blood collection and sample processing are factors expected to boost growth of the diagnostics segment.
- Hospitals & nursing homes segment is expected to account for largest revenue share in the global market over the forecast period. Major or large-scale healthcare organizations are more preferred over smaller centers and organizations for diagnosis and treatment of major and chronic diseases and illnesses, and hospitals and nursing homes, with in-house departments or external facilities perform majority of diagnostics and testing, which is expected to boost growth of this segment.
- North America is expected to account for largest revenue share over the forecast period. Major clinical diagnostic companies have robust presence in countries in North America, and availability of modern and advanced healthcare facilities and offerings as well as increasing research and development activities are some key factors driving growth of the market in the region.
- Some major players in the market include Fresenius Kabi AG, Becton, Dickinson and Company, Haemonetics Corporation, Grifols, S.A., TERUMO BCT, Inc., Smiths Medical, Inc., Macopharma S.A., Retractable Technologies, Inc., Kawasumi Laboratories Incorporated, and Greiner Holding AG
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For the purpose of this report, Reports and Data has segmented the blood collection market based on product, application, end-use, and region:
Product Outlook (Revenue, USD Billion; 2018-2028)
- Needles & Syringes
- Blood Collection Tubes
- Heparin Tubes
- EDTA Tubes
- Serum Tubes
- ESR Tubes
- Vacuum Tubes
- Coagulation Tubes
- Vacuum Tubes
- Non-vacuum Tubes
- Glucose Tubes
- Blood Bags
- Lancets
- Blood Collection Systems & Monitors
Application Outlook (Revenue, USD Billion; 2018-2028)
- Diagnostics
- Therapeutics
End-Use Outlook (Revenue, USD Billion; 2018-2028)
- Hospitals & Nursing Homes
- Blood Banks
- Diagnostics Centers & Laboratories
- Others
Regional Outlook (Revenue, USD Billion; 2018-2028)
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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