Blood Collection Devices Market Size to Surpass US$ 7.99 Billion by 2031 - Growth Plus Reports
Growth Plus Reports
Updated 6 min read
Growth Plus Reports
Newark, New Castle, USA, June 21, 2023 (GLOBE NEWSWIRE) -- According to the most recent study by Growth Plus Reports, the global blood collection devices market was valued at US$ 5.20 billion and is expected to rise at a revenue CAGR of 4.9% to reach US$ 7.99 billion by 2031.
The global market for blood collection devices was analyzed, and it is expected to rise significantly during the forecast period. Blood samples are taken from patients using blood collection equipment for various medical uses, such as diagnosis, treatment, and research.
Recent Development in the Global Blood Collection Devices Market:
In February 2023, with its new TassoOne Plus high-volume liquid blood collection device, Tasso got CE mark clearance. The newest device, according to the maker, complies with all major performance and safety criteria as well as the new European Union Medical Device Regulation.
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa
Key Takeaways:
The rising prevalence of infectious diseases, accidents, and trauma cases is driving the market revenue growth.
The increasing rates of blood-borne diseases are also driving the global market with a large revenue share.
Several advancements and increasing biomedical R&D activities are creating a strong product pipeline.
Market Drivers and Restraints:
Growing demand for advanced equipment, better healthcare infrastructure, research and development activities, and increased public awareness of illnesses and early diagnosis all have a beneficial influence on the market for blood collection devices.
However, for manufacturers, it might be difficult to strike a balance between the need for reasonably priced blood collection equipment and the escalating expenses of R&D, production, and regulatory compliance.
Market Segmentation:
Segmentation By Product Type
Based on product type, the global blood collection devices market is segmented into syringes, blood bags, blood collection tubes, lancets, and others. Due to the rising demand and non-reusability, the syringe segment accounts for a sizable revenue share in the global blood collection devices market.
Segmentation By Application
Based on applications, the global blood collection devices market is segmented into diagnostics and treatment. Due to the increasing R&D activities and the high demand for the adoption of blood collection products, the diagnostics segment accounts for the largest market revenue share.
Based on the end-user, the global blood collection devices market is segmented into hospitals, ambulatory surgical centers, and others. The hospital segment, with its large revenue share, is dominating the global market. The segment's significant revenue growth is attributed to the development of liquid biopsy technology, exposure to global trends, and the need for the highest standards of patient care.
Regional Growth Dynamics
Based on the region, the global blood collection devices market is segmented into North America, Asia Pacific, Latin America, Europe, and the Middle East & Africa. Due to the availability of a sophisticated healthcare system and a rising need for advanced healthcare systems in this region, North America accounts for the most significant revenue share in the global market.
Competitive Landscape
Following is a list of the top market players operating in the global market for blood collection devices:
3M Company
Cardinal Health
Smith & Nephew plc
DermaRite Industries LLC
ConvaTec Group plc
B. Braun Melsungen AG
Report Coverage
Growth Plus Reports studied the global market for blood collection devices in-depth and analyzed the basic market characteristics, significant investment areas, analytics of regional growth, revenue forecast, competitive market players, mergers, and acquisitions.
Table of Content
INTRODUCTION
Market Ecosystem
Timeline Under Consideration
Historical Years – 2021
Base Year – 2022
Forecast Years – 2023 to 2031
Currency Used in the Report
RESEARCH METHODOLOGY
Research Approach
Data Collection Methodology
Data Sources
Secondary Sources
Primary Sources
Market Estimation Approach
Bottom Up
Top Down
Market Forecasting Model
Limitations and Assumptions
PREMIUM INSIGHTS
Current Market Trends (COVID-19 Perspective)
Key Players & Competitive Positioning (2022)
Regulatory Landscape
MARKET DYNAMICS
Drivers
Restraints/Challenges
Opportunities
GLOBAL BLOOD COLLECTION DEVICES MARKET - ANALYSIS & FORECAST, BY PRODUCT TYPE
Syringes
Blood Bags
Blood Collection Tubes
Lancets
Others
GLOBAL BLOOD COLLECTION DEVICES MARKET - ANALYSIS & FORECAST, BY APPLICATION
Diagnostic
Treatment
GLOBAL BLOOD COLLECTION DEVICES MARKET - ANALYSIS & FORECAST, BY END USER
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