Global Blood Collection Devices Market Poised for Remarkable Growth, Projected to Exceed USD 14.4 Billion by 2033

The global blood collection devices market is set to experience significant growth, reaching an estimated USD 7.7 billion in 2023 and anticipated to expand at a compound annual growth rate (CAGR) of 6.5% throughout the forecast period, according to the latest analysis by Future Market Insights (FMI). By 2033, the market valuation is projected to exceed USD 14.4 billion.

The increasing prevalence of infectious diseases, driven by rapid urbanization and the lingering impacts of the COVID-19 pandemic, has led to heightened demand for blood collection devices among healthcare providers worldwide. These essential tools play a critical role in diagnostic procedures, enabling healthcare professionals to effectively assess and monitor patient conditions.

Additionally, the rising incidence of lifestyle disorders and chronic diseases, such as cancer and diabetes, underscores the growing need for reliable blood collection solutions. These devices facilitate the collection of vital blood samples, which are crucial for accurate diagnosis and treatment planning. As global health challenges intensify, so does the demand for efficient and effective blood collection technologies.

Technological advancements within the sector have spurred the development of innovative capillary blood collection systems designed to minimize procedural errors and enhance sample integrity. These innovations are expected to significantly propel market growth in the coming years.

However, the blood collection devices market is not without its challenges. Competition from alternative healthcare technologies and concerns regarding cost-effectiveness and sample preservation capabilities of existing devices pose significant hurdles. With prices typically ranging from USD 45,000 to USD 55,000, maintaining sample freshness over extended periods remains a critical concern.

As the global healthcare landscape continues to evolve, stakeholders in the blood collection devices market are encouraged to pursue further innovations. Addressing these challenges is essential to capitalize on emerging opportunities and meet the increasing demand for reliable diagnostic solutions.

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.

Key Takeaways:

• The market is expected to advance at 6.5% during the forecast period.
• In 2023, the estimation is expected to be at USD 7.7 billion.
• By 2033, the market value is expected to cross USD 14.4 billion.
• As per the regional analysis, North America is projected to hold the dominant market share.
• The United States market is expected to surge at 6.3% during the forecast period.
• The United Kingdom market is anticipated to grow at 5.5% during the forecast period.
• China’s market is projected to advance at 5.9% during the forecast period.
• Japan’s market is expected to record a CAGR of 5% during the forecast period.
• The South Korean market is anticipated to post a CAGR of 4.5% during the forecast period.
• 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.

Surge in Market Demand: Explore Comprehensive Trends and Analysis in Our Full Report!

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.

Key developments in the market:

• In September 2022, Cardinal Health introduced new solutions to improve financial health for specialty practices.
• In January 2023, Greiner announced that it had maintained its sustainable transformation process despite challenges in 2023.

Top Players in the Market:

• Quest Diagnostics
• Cardinal Health
• Greiner AG
• Haematonics corporation
• Sarstedt AG & Co. KG
• Fresenius Kabi
• Grifols S.A.
• Macopharma
• Nipro Corporation

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

By Region:

• North America
• Latin America
• Europe
• Asia Pacific
• The Middle East and Africa

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

Contact Us:        

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-347-918-3531
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube