Capillary and Venous Blood Sampling Devices Market Estimated to Expand at a Robust CAGR by 2030

Capillary and Venous Blood Sampling Devices Market: Introduction

According to the report, the global capillary and venous blood sampling devices market was valued at US$ 1.2 Bn in 2019. It is projected to expand at a CAGR of ~7% from 2020 to 2030. Capillary blood collection is a useful technique to collect blood in children and infants. Capillary blood collection requires a very small amount of blood for disease diagnosis. It is simple and relatively painless. Venous blood (venipuncture) is the specimen of choice for most routine laboratory tests; most laboratory reference ranges are based on venous blood.

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The benefits of these venous blood collection devices are that they offer the exact filling volume. Different types of devices are used in capillary blood sampling including microsampler devices, lancets, blood collection strips, tubes. Venous blood sampling devices include vacutainer system and tubes. The expansion of the global capillary and venous blood sampling devices market can be ascribed to an increase in the prevalence of diabetes and rising availability of point-of-care (PoC) diagnostics.

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North America dominated the global capillary and venous blood sampling devices market in 2019. This trend is anticipated to continue during the forecast period. Highly structured healthcare industry, early new product adoption, high prevalence rate of diabetes and other chronic diseases, and presence of major players are estimated to drive the capillary and venous blood sampling devices market in North America. Asia Pacific is likely to be a highly lucrative region of the global capillary and venous blood sampling devices market. It is projected to expand rapidly at a considerable CAGR during the forecast period.

Increase in Prevalence of Diabetes and Availability of Point-of-Care (PoC) Diagnostics to Drive Global Market

The increase in the number of patients afflicted with diabetes across the globe is a key factor driving the global capillary and venous blood sampling devices market. Diabetes is a major chronic disease in the world and blood glucose test is the primary mode of diagnosis of this disease. The prevalence of diabetes is expected to increase exponentially across the world due to change in lifestyle and factors such as malnutrition and genetic mutations. According to government and private organizations operating in the diabetes industry, diabetes is considered to be a highly fatal disease. According to the American Diabetes Association, diabetes accounts for approximately 71,000 deaths in the U.S. each year.

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Rising availability of point-of-care (PoC) diagnostics is another major factor that boosts the market. Point-of-care (PoC) or with-patient testing enables physicians and medical staff to accurately achieve real-time, lab-quality diagnostic results within minutes rather than in hours. Additionally, major market players are focusing on the launch of new point-of-care devices for blood sampling, which is likely to drive the global capillary and venous blood sampling devices market.

Venous Blood Collection Devices to Dominate Capillary and Venous Blood Sampling Devices Market

Based on product type, the global capillary and venous blood sampling devices market has been divided into capillary blood collection devices and venous blood collection devices. Capillary blood collection devices including microsampler devices, lancets, blood collection strips, tubes. Venous blood collection devices includes vacutainer system and tubes. The venous blood collection devices segment dominated the global capillary and venous blood sampling devices market in 2019. This trend is projected to continue during the forecast period.

Venous blood collection is highly preferred in clinical laboratories for the detection of major chronic diseases as no repeated blood collection process is required. Moreover, major market players such as BD and Greiner Bio-One International GmbH have introduced innovative products for venous blood collection. BD has Vacutainer System and Greiner Bio-One International GmbH has VACUETTE tube for venous blood collection.

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Venous Blood Collection Devices to be Highly Lucrative

In terms of application, the global capillary and venous blood sampling devices market has been bifurcated into capillary blood collection devices, which sub-segmented into point-of-care testing and central laboratory testing, and venous blood collection devices, which has been further classified into point-of-care testing and central laboratory testing. The venous blood collection devices segment accounted for a prominent share of the global capillary and venous blood sampling devices market in 2019, as venous blood collection devices are highly preferred in clinical laboratories, which include hospital laboratories, independent laboratories, and central laboratories for the detection of major chronic diseases. Venous blood collection is the first choice when whole blood collection is required in the detection of some diseases.

In terms of sub-segment, point-of-care segment holds a major share, in terms of revenue, due to point-of-care testing devices helps provide basic information such as blood gas, pH, electrolyte, metabolite, and hemoglobin measurement for diagnosis of major chronic diseases. Presently, point-of-care testing devices are extensively utilized in the diagnosis of various types of infectious diseases, which is likely to drive the segment.

Hospitals to be Major End Users

Based on end user, the global capillary and venous blood sampling devices market has been classified into hospitals, clinics, diagnostics laboratories, blood banks, and home care. The hospitals segment led the global capillary and venous blood sampling devices market, in terms of revenue, in 2019. The trend is expected to continue during the forecast period. Hospitals are an important channel for usage of blood collection devices. Increasing diagnostic testing and large inflow of patients boost the segment. Additionally, an increase in the number of surgical procedures, such as angioplasty and kidney & liver transplants, and rising incidence of trauma has fueled the demand for blood collection & transfusion significantly in hospitals.

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North America to Dominate Capillary and Venous Blood Sampling Devices Market

The global capillary and venous blood sampling devices market has been split into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominated the global capillary and venous blood sampling devices market in 2019. It was followed by Europe. Significant share of the global market held by North America can be ascribed to increase in the number of people with diabetes, new product launches, and presence of major players in the region. Furthermore, increasing preference for point-of-care testing and government initiatives are key factors boosting the market in the region. The capillary and venous blood sampling devices market in Asia Pacific is anticipated to expand rapidly at a considerable CAGR from 2020 to 2030. This can be ascribed to the presence of developing economies with commercial hubs, expanding business organizations, new product launches, and an increase in the demand for capillary and venous blood sampling devices due to a rise in the number of surgical procedures in the region.

Competition Landscape

The global capillary and venous blood sampling devices market is fragmented in terms of number of players. Key players operating in the global market include B. Braun Melsungen AG, Terumo Corporation, BD, Thermo Fisher Scientific, Inc., Bio-Rad Laboratories, Inc., Ypsomed Holding AG, Owen Mumford Ltd., Greiner Bio-One International GmbH, Sarstedt AG & Co. KG, and Cardinal Health.

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