Blood Collection Devices Market to Witness Strong Growth by 2030, Analysis By Industry Demand With Market Scope, Value, Size, Share | Medtronic plc, Qiagen, Bio-Rad Laboratories, Inc., Haemonetics Corporation

Market Overview:

Blood collection devices are sterile medical devices used for collecting blood samples from patients or donors during blood donation processes. They include needles, blood bags, and vacuum tubes.

Market Dynamics:

Blood collection devices market is primarily driven by the rise in blood donation procedures across the globe. As per the World Health Organization (WHO), around 117.4 million blood donations were collected globally in 2020 from voluntary unpaid blood donors, representing 61% of total blood donations. There is increasing awareness among people about importance of regular voluntary blood donation which is fueling the market growth. Further, rapid advancements in biosciences and growth of therapeutic areas like oncology and transplant surgeries that require frequent blood transfusion are also propelling the demand for safer and efficient blood collection products. This is anticipated to aid expansion of the blood collection devices market over the forecast period.

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Increasing Prevalence of Chronic Diseases as One Driver for Blood Collection Devices Market

The increasing prevalence of chronic diseases such as cancer, diabetes, cardiovascular diseases etc. across the globe is considered as one of the major market drivers for the blood collection devices market. With rising aging population and changing lifestyle habits, the instances of such chronic diseases have seen significant rise in the past few decades. Chronic diseases require continuous monitoring which involves frequent collection of blood samples for diagnostic as well as monitoring purposes. This has augmented the demand for various blood collection devices in healthcare facilities as well as homecare settings. Furthermore, rising initiatives by government and private organizations to spread awareness about such diseases and importance of early detection has also contributed to increased testing and screening activities, driving the need for blood collection tools.

Growing Demand for Home Healthcare Services as Another Key Market Driver

Growing preference for home healthcare services owing to advantages like cost savings, convenience and comfortable environment is another major factor propelling the demand for blood collection devices. With innovations in design and technology, several self-collection and self-testing blood collection tools have been introduced that enables patients to collect their blood samples comfortably at home. This has significantly boosted the adoption of home based blood collection practices. Moreover, growing geriatric population struggling with mobility issues also favor home healthcare services over hospital visits for routine checkups and monitoring, stirring the demand for user-friendly blood collection devices meant for self-sampling. The trend towards decentralization of healthcare practices is expected to further support the growth of home based blood collection market in coming years.

Stringent Safety Regulations as a Market Restrain

Stringent regulatory framework governing the approval and production of blood collection devices is considered a key challenge for industry players. Regulatory bodies like FDA impose stringent norms and quality standards to ensure product safety as well as efficacy which increases compliance costs and timeline for bringing new devices to market. Furthermore, any changes or modifications in the approved design also require prior regulatory clearance prolonging product development cycle. This regulatory complexity along with high compliance costs associated with it restrain smaller players with limited resources from entering the market. However, top players are able to navigate regulatory barriers by investing heavily in R&D and following best practices to commercialize innovative as well as compliant products.

Partnerships and Collaborations as a Growth Opportunity

Partnerships and collaborations between device manufacturers and leading healthcare providers as well as diagnostic labs presents significant growth opportunities. With healthcare industry undergoing consolidation, leading hospitals, diagnostic chains and labs are preferring partnership-based business models over individual purchases. Device companies can gain access to huge customer base as well as trial opportunities through strategic partnerships. This helps sharing of risks and rewards and also enables co-creation of tailor-made solutions catering to specific testing processes. Partnerships provide opportunity to companies to pitch new product ideas, gain real-time feedback and also strengthen distribution channels. Additionally, collaborating with service providers helps manufacturers to establish strong product recalls and complaint management practices further strengthening compliance control. Overall partnerships present a win-win scenario for stakeholders driving business growth.

Shift towards Point-of-Care Blood Collection as a Key Emerging Trend

Emergence of point-of-care or near-patient blood collection practices is considered a prominent trend in the market. With technologies like microfluidics and portable diagnostic devices, focus has shifted towards developing user-friendly blood collection tools enabling rapid testing and diagnosis near to the patient. This decentralized diagnostic approach is gaining traction as it provides faster treatment initiation, improved monitoring and supports home-based healthcare delivery. Point-of-care collection with painless, minimally invasive tools offering quick blood sample collection holds immense potential. Key players are actively investing in point-of-care technologies and easy-to-use micro-sampling devices to capitalize on this trend. Moreover, miniaturization and integration of collection and analysis functions is also expected to boost near-patient testing uptake in future significantly impacting the market dynamics.

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List of TOP Players in Market Report are: -

◘ Becton
◘ Dickinson and Company
◘ NIPRO Medical Corporation
◘ Terumo Medical Corporation
◘ Medtronic plc
◘ Qiagen
◘ Bio-Rad Laboratories Inc.
◘ Haemonetics Corporation
◘ Fresenius SE & Co. KGaA

Note: Major Players are sorted in no particular order.

Market Detailed Segmentation:

On the basis of type,

Blood collection tubes
Serum collection tubes
Plasma collection tubes
Heparin tubes
Other tubes (EDTA, ESR and Microcapillary tubes
Needles & syringes
Lancets
Vacuum blood collection system
Microfluidic system
Blood bags
Accessories

On the basis of method of collection,

Manual blood collection
Automated blood collection

On the basis of end user,

Hospitals and Nursing Homes
Blood banks
Diagnostic centers
Research and academic organizations
Home care settings
Others End Users

Furthermore, the years considered for the study are as follows:

Historical data - 2016-2021
The base year for estimation - is 2021
Estimated Year - 2023
Forecast period** - 2023 to 2030

This Blood Collection Devices Market Research/Analysis Report Contains Answers to your following Questions:

◈What are the current global trends in the Blood Collection Devices market, and will the market experience an increase or decrease in demand in the upcoming years?

◈ What is the expected demand for various product types within the Blood Collection Devices market, and what are the emerging Market applications and trends?

◈ What are the projections for the global Blood Collection Devices Market in terms of capacity, production, production value, cost, profit, market share, supply, consumption, import, and export?

◈ How will strategic developments shape the Market trajectory in the medium to long term?

◈ What factors contribute to the final price of Blood Collection Devices , and what are the raw materials used in its manufacturing?

◈ What is the market's growth potential, particularly with the increasing adoption of Blood Collection Devices in mining?

◈ What is the current and 2022 value of the global market, and who are the leading companies in this market?

◈ What recent Market trends can be leveraged to create additional revenue streams?

◈ What entry strategies, economic impact mitigation measures, and marketing channels should be considered for the Blood Collection Devices Market?

Summarized Extracts from TOC of Market Study

Chapter 1 Blood Collection Devices Introduction and Market Overview

1.1 Objectives of the Study

1.2 Overview of Blood Collection Devices

1.3 Scope of The Study

1.3.1 Key Market Segments

1.3.2 Players Covered

1.3.3 COVID-19's impact on the Blood Collection Devices industry

1.4 Methodology of The Study

1.5 Research Data Source

Chapter 2 Executive Summary

Chapter 3 Industry Chain Analysis

Chapter 4 Market, by Type

Chapter 5 Market, by Application

Chapter 6 Market Analysis by Regions

Chapter 7 North America Market Analysis by Countries

Chapter 8 Europe Blood Collection Devices Market Analysis by Countries

Chapter 9 Asia Pacific Blood Collection Devices Market Analysis by Countries

Chapter 10 Middle East and Africa Blood Collection Devices Market Analysis by Countries

Chapter 11 South America Blood Collection Devices Market Analysis by Countries

Chapter 12 Competitive Landscape

Chapter 13 Industry Outlook

Chapter 14 Market Forecast

Chapter 15 New Project Feasibility Analysis

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