global Blood Collection market size is expected to be worth around US$ 14.03 billion by 2028, according to a new report by Vision Research Reports.
The global Blood Collection market size was valued at US$ 8.55 billion in 2020 and is anticipated to grow at a CAGR of 6.9% during forecast period 2021 to 2028.
Rising incidence of infectious and non-communicable diseases is a major factor anticipated to propel the market growth during the forecast period.
According to the World Health Organization, over 41 million individuals that are equivalent to almost 71% of global deaths were caused due to non-communicable diseases in 2018. Cardiovascular diseases registered the highest mortality rates of over 17.9 million followed by cancer that claimed 9 million deaths and respiratory diseases such as chronic obstructive pulmonary disease & asthma claimed over 3.9 million lives in 2017 globally. These facts are indicative of an increase in the incidence of non-communicable diseases, which is expected to fuel market growth.
An increase in the number of road accidents is anticipated to lead to a rise in demand for blood and its components. According to the National Trauma Institute, trauma injuries account for 30% of lives lost globally. The economic burden due to trauma injuries accounts for nearly USD 671 billion in a year. Statistics from the same source indicate that trauma is the number one cause of death from the age of 1 to 46. These facts are indicative of the rising incidence of trauma injuries that require blood collection products for effective treatment.
The growing rate of novel product launches and investments are anticipated to fuel the market growth during the forecast period. For instance, in August 2019, Velano Vascular announced that the company received an investment of USD 10 million from its strategic investor, Intermountain Healthcare for Velano Vascular’s FDA cleared PIVO needle-free blood collection technology.
Based on product, the market is segmented into blood collection tubes, bags, needles &syringes, and others. In 2020, the needles and syringes segment dominated the market due to its high adoption, repeat purchase, and high affordability. This segment is projected to maintain its dominance during the study period. The high demand for syringes and needles in surgical procedures and disease diagnosis is another major factor responsible for the segmental growth.
Blood bags are used for storage and transfusion of blood that is collected from patients for transfer or sample analysis. These bags contain anticoagulants and/or preservatives that ensure optimum storage. This segment is expected to grow at a lucrative rate owing to the globally increasing number of surgeries and accidents. According to the American Red Cross, 2018 statistics, it was estimated that the U.S. requires about 36,000 units of RBCs every day. Also, more than 21 million blood components are transfused each year in the U.S. Thus, the rising number of blood donations and transfusions are expected to fuel segment growth during the forecast period.
The blood collection tube segment is also anticipated to witness lucrative growth during the forecast period. This can be attributed to the increase in the incidence of diseases that drives the demand for various blood testing methods, which in turn is fueling the segment’s growth. Moreover, ongoing technological advancement is another factor that is expected to fuel market growth. For instance, Becton, Dickinson, and Company’s Vacutainer Barricor, a plasma blood collection tube has advanced technology that helps in blood collection and separation which offers improved clinical efficiency, sample quality, improved patient care, and faster test results.
Based on application the blood collection market is segmented into diagnostics and treatment. Diagnostics segment dominated the market owing to the increasing prevalence of chronic diseases such as cancer, diabetes, and cardiovascular diseases. This segment is also anticipated to witness the highest CAGR due to the growing awareness about regular health checkups.
An increase in the number of individuals suffering from sickle cell anemia has also created a significant need for blood transfusions globally. According to the Centers for Disease Control and Prevention, an estimated 100,000 individuals in the U.S. are affected by sickle cell disease. Thus, the need for blood & its components is increasing at a relatively large scale globally, which is anticipated to propel the market.
Based on end-use, the market is segmented into hospitals, diagnostic centers, and blood banks. Hospitals held the largest market share in 2018 as they serve as primary centers for treatment and diagnosis of diseases. The global rise in the number of chronic diseases and an increasing number of diagnostic & screening tests are anticipated to positively affect market growth. Diagnostic centers are also estimated to gain significant revenue share during the forecast period, owing to the availability of sophisticated technology that enables faster results.
According to the World Health Organization, the incidence of tropical diseases, like malaria, chikungunya, dengue, and yellow fever has significantly increased, driving demand for the market. As detection of these diseases requires various diagnostic devices, the demand for blood collection products is expected to rise in the near future.
North America dominated the overall market in 2020. Well-developed healthcare infrastructure, an increase in R&D activities, and the presence of leading clinical diagnostics companies in North America have fueled the regional market. For instance, in August 2019, Q-Sera Pty Ltd. announced that the company received Notice of Allowance from the United States Patent & Trademark Office for the patent of Q-Sera’s technology for blood clotting that will be used in blood collection tubes. Moreover, the adoption of innovative & advanced technology and a large focus on clinical research drive regional growth.
The European region includes the UK, Germany, France, Italy, Spain, and other countries. This region accounted for the second-highest revenue after North America with a CAGR of 5.11% during the forecast period. The increasing number of blood donation activities and the presence of key market players in this region are expected to drive market expansion. According to the European Blood Alliance, NHS Blood and transplant collects about 1.5 million voluntary donations. In addition, Scottish National Blood Transfusion Service deals with about 250,000 blood donations per annum from a donor base of 140,000.
Terumo Corp., Abbott Laboratories, Medtronic, Becton, Dickinson and Company, Qiagen N.V., NIPRO Medical Corp., Greiner Holding AG, Sarstedt AG & Co., Haemonetics Corp. and FL MEDICAL s.r.l.
Needles and Syringes
Blood Collection Tubes
The Blood Collection market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Blood Collection market for the base year 2020 and the forecast between 2021 and 2028. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Blood Collection market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Blood Collection market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Blood Collection market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Blood Collection capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Blood Collection by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Blood Collection market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2028. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Blood Collection market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Blood Collection market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Blood Collection industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
The Blood Collection market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Blood Collection market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Blood Collection market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Blood Collection market. These factors have benefited the growth of the global market for Blood Collection. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Blood Collection. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of Blood Collection are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
Market Size Estimation
Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).
The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.
Market Breakdown and Data Triangulation
After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.
Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.
The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.
The study objectives of this report are:
MicroRNA Market Size, Share, Trends, Growth, Production, Consumption, Revenue, Company Analysis and Forecast 2021-2030Read more...
Medical Devices Reimbursement Market Size, Share, Trends, Growth, Production, Consumption, Revenue, Company Analysis and Forecast 2021-2030Read more...
Advanced Wound Care Market Size, Share, Trends, Growth, Production, Consumption, Revenue, Company Analysis and Forecast 2021-2030Read more...
Ambulance Services Market Size, Share, Trends, Growth, Production, Consumption, Revenue, Company Analysis and Forecast 2021-2030Read more...
Prosthetics & Orthotics Market Size, Share, Trends, Growth, Production, Consumption, Revenue, Company Analysis and Forecast 2021-2030Read more...