Blood Collection Monitor Market Latest Trends, Technological Advancement, Driving Factors and Forecast to 2027

Blood testing has been a critical part of modern medical diagnosis and timely delivery of healthcare services. Given the importance of blood testing in several medical procedures, healthcare professionals (HCPs) are driven to pursue intensive innovation in blood drawing and blood testing technologies. The COVID-19 pandemic has revitalized the need to adopt agile medical procedures in the public and private sector alike. This, coupled with a sustained increase in chronic diseases and health conditions, has been the main driver for innovation in blood testing technologies. Over the years, these trends have positively influenced the demand for blood collection monitors due to their applications in chronic disease management, reproductive health, and routine medical tests. In the near future, these factors are set to launch promising business opportunities in the global blood collection monitor market.

Alleviating the Risks of Disease Transmission During Blood Transfusion to Create Robust Demand for Blood Collection Monitors

Over the forecast period, the main growth drivers in the blood collection monitor market include increase in incidence of chronic diseases, health conditions, and infections such as Human Immunodeficiency Virus (HIV), Hepatitis C, Hepatitis B, brucellosis, syphilis, and malaria. These devices are highly effective at dissipating the risks of disease transmission during blood transfusions. As per health organizations like the WHO and American Heart Association (AHA), the number of cases and fatalities from HIV, syphilis, and cardiovascular diseases is fast-reaching millions. As a result, there is a profound need to combat these life-threatening illnesses. In this context, the global blood collection monitor market is poised to achieve significant expansion over the assessment period.

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Demand for Advanced Blood Collection Monitors Set to Soar

Advanced blood collection monitors are more usable and efficient than their traditional counterparts. Widespread usage of blood collection monitors for various medical procedures is expected to increase their demand during the study period. Today's new-age blood collection monitors offer a wide array of features such as large matrix colour displays, higher portability and maintenance, visual indicators for volume, weight, flow rate, status of the collection process, battery status, time of collection, and other related metadata. These features are highly user friendly in nature, creating a valid incentive among consumers to shift away from traditional blood collection monitors. This factor is expected to create sound growth opportunities in the global blood collection monitor market.

North America to Sustain Dominance in Blood Collection Monitor Market

Consumer awareness regarding blood transfusion-related diseases and the generally higher rate of blood draws per day in North America are expected to be the major factors contributing to the expansion of the blood collection monitors market. According to American Red Cross, the United States has a considerable demand for red blood cells, plasma units and platelet units - this factor is expected to increase the demand for blood collection monitors in the market of North America.

Leading Market Players

Some of the prominent companies in the blood collection monitor market include:
• Terumo Penpol
• REMI ELEKTROTECHNIK LIMITED
• Delcon
• Haemonetics Corporation
• Bioelettronica
• Accurate Scientific Instruments
• Labtop Instruments Pvt. Ltd. among others.

Global Blood Collection Monitor Market is Segmented as Below:

By Type
• Basic Devices
• Intermediate Devices
• Advanced Devices

By Application
• Hospitals
• Blood Banks
• Research Clinics
• Ambulatory Surgical Centers
• Diagnostic and Pathology Laboratories
• Nursing Centers

By Region
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

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