Blood Collection Market Set For Rapid Growth and Trend by 2022 | Major Leading players are Beckton Dickinson & Co., Terumo Corporation, Abbott Laboratories, Cardinal Health Inc, Qiagen N.V, Medtronic PLC, Chengdu Rich Science Industry, and Sarstedt AG & C

Global Blood Collection Market Overview

Blood collection is a significant diagnostic tool in the practice of laboratory tests. The blood collection tubes provide precision and accuracy, safety, ease of use and speed of the diagnostic process. These tubes are highly preferred due to the risk of reduced rupture and reduced weight. The blood collection tubes contain polymer-coated clot activators or water-soluble anticoagulants, a plasma separator tube, a serum separator tube, heparin tubes and EDTA tubes. The caps of the tubes have a color code to indicate the type of tube for a specific test. This color code of the tubes helps the laboratory staff to distinguish the tubes for different laboratory tests.

Global Blood Collection Market Size:

Global Blood Collection Market was Valued 8.05 Billion USD in 2017 and this value predicted to reach 10.54 Billion by 2022 growing at a significant CAGR of 5.2% during 2017 to 2022.

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Drivers and Restraints:

The growing number of accidental and trauma cases, rising number of surgeries, emergence of liquid biopsy, rise in the demand for blood components, and increasing prevalence of various diseases are the factors driving market growth.

Geographic Segmentation:

The blood collection market is segmented into product, method, end user and region. Based on the product, the market is divided into blood collection tubes, needles and syringes, blood bags, blood collection devices and lancets. The segment of blood collection tubes is expected to dominate the market in 2017. Blood collection tubes allow easy collection and multiple collection of specimens from a single venipuncture; This leads to its adoption in a wide range of applications.

Depending on the method, the blood collection market is segmented into manual blood collection and automated blood collection. The manual blood extraction segment is expected to represent the largest portion of the market in 2017. Lower costs (compared to automated blood collection), strong demand for total blood transfusions and availability of a wide range of products for this method are the main factors of market growth in this segment.

According to the end user, the market is more segmented in hospitals and pathology laboratories, blood banks and other end users. In 2017, the segment of hospitals and pathology laboratories is expected to have the largest participation in the global blood donation market. The increasing prevalence of diseases that require a blood diagnosis is a key market factor for this segment of end users.

Geographically, the global blood collection market is segmented into North America, Europe, Asia-Pacific (APAC) and the rest of the world. North America is leading the world market due factors such as government blood safety initiatives, the higher prevalence of related diseases, lifestyle of people, presence of key players, and the growing adoption of automatic blood collection devices in this region. The APAC region is expected to grow at the highest annual growth rate in the next five years. It is expected that the large population, better health care infrastructure, growth in medical tourism, greater number of hospitals and greater disposable income in the region offer significant growth opportunities to the main market players.

Key players operating in the global market for blood collection include Beckton Dickinson & Co. Greiner Group AG, Terumo Corporation, Abbott Laboratories, Cardinal Health Inc, Qiagen N.V, Improve Medical Instruments., Medtronic PLC, Chengdu Rich Science Industry, and Sarstedt AG & Co.

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Scope of the report:

The report offers a comprehensive analysis of the industry by providing the estimations of market potential and forecasts with utmost granularity. Along this, the factors influential in effecting the market dynamics and trends are discussed in detail at the product level. Further, the performance of the market at the regional and country-level is assessed and the prospects with high growth potential are identified and debated.

The key players in the industry are profiled providing insights on their financial performance, market position and growth strategies. Comparative analysis on prime strategical activities of the market players delineating the key developments like mergers & acquisitions, collaborations and an evaluation of the competitive environment within the industry are provided. The report also offers a broad outlook of the market along with recommendations from industry experts on the opportunities for investment activity.

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