Blood Collection Devices Market Forecast 2023 to 2033 | By Greiner AG, Haematonics, Sarstedt AG, Fresenius Kabi

According to a recent FMI market analysis, the worldwide Blood Collection Devices Market Sales is anticipated to be worth US$ 7.7 billion in 2023. During the projection period, the industry is expected to grow at a CAGR of 6.5%. The market value is estimated to exceed US$ 14.4 billion by 2033.

Infectious diseases have been on the rise. Many reasons have contributed to this, including rising urbanisation, which has increased development, the consequences of COVID-19, and so on. As a result, healthcare staff are using Blood Collection Devices to assess patients’ conditions.

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Because of the rise of sedentary lifestyles, there has been an increase in lifestyle problems. In severe circumstances, this has resulted in cancer. There has also been an increase in the number of diabetic patients worldwide. A blood sample is the only way to determine the severity of diabetes. As a result, doctors are using blood collecting devices to take blood samples.

The sector has seen a flurry of technological advancements. This has resulted in the development of capillary Blood Collection Devices that reduce processing errors. During the projection period, this could lead to an increase in demand for Blood Collection Devices.

However, the market has been facing some difficulties. One of them is technological progress in the healthcare sector, which has resulted in the development of better alternatives. Furthermore, the price of these devices fluctuates between US$ 45,000 and US$ 55,000. These devices cannot maintain the freshness of the sample for extended periods of time, which may limit market expansion.

Thus, as per the insights provided by the FMI researchers, increasing infectious illnesses, exponential increase in the lifestyle diseases like diabetes, surging cancer cases, and among factors that are expected to drive the Blood Collection Devices market growth during the forecast period.

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Key Takeaways:

• During the projection period, the market is expected to grow at a 6.5% annual rate.
• The figure is predicted to be $7.7 billion in 2023.
• The market value is estimated to exceed US$ 14.4 billion by 2033.
• According to the regional research, North America is expected to have the largest market share.
• During the projection period, the US market is expected to grow by 6.3%.
• The market in the United Kingdom is expected to increase at a 5.5% annual rate over the forecast period.
• The Chinese market is expected to grow at a 5.9% annual rate throughout the forecast period.
• During the projection period, Japan’s market is expected to grow at a CAGR of 5%.
• During the forecast period, the South Korean market is expected to grow at a CAGR of 4.5%.
• Based on the product type, the blood collection tube is projected to be the dominant segment and is expected to grow at 6.2% during the forecast period
• Based on the end user, the diagnostic and pathology laboratories segment is projected to be dominant and is anticipated to surge at 6.2% during the forecast period.

Competitive Landscape

The key players operating in the Blood Collection Devices market are expected to make huge investments in research and development. This comes at a time when the market has been facing a slump owing to supply chain disruption. The manufacturers are also expected to make massive investments in the process of mergers and acquisitions. Strategic partnerships are very much on cards as this would allow the manufacturers to broaden their portfolio.

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Blood Collection Devices Market Segmentation

By Type:

• Blood collection tubes
• Needles & syringes
• Blood bags
• Blood collection systems or monitors
• System type
• Lancets
• Others

By End User:

• Hospitals
• Ambulatory Surgical Centre & Nursing Homes
• Blood Bank
• Diagnostic & Pathology Laboratories
• Others

By Method:

• Manual Blood Collection
• Automated Blood Collection

By Application:

• Diagnostic
• Therapeutic

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Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

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