Venous Blood Collection Devices Market rocket up to USD 9.27 billion by 2029

Blood cancer is among the top types of cancers that are prevalent globally. According to the Leukemia and Lymphoma Society (LLS), approximately, for every three minutes, one person in the United States is diagnosed with blood cancer. Therefore, this calls for medical devices that can collect the blood samples and keep them intact. This where the role of venous blood collection devices comes into play.

Data Bridge Market Research analyses that the venous blood collection devices market is expected to undergo a CAGR of 6.27% during the forecast period. This indicates that the market value, which was USD 5.70 billion in 2021, would rocket up to USD 9.27 billion by 2029. "Hospitals and Clinics" dominates the end users segment of the venous blood collection devices market owing to the growing number of hospitals and clinics in the developing economies.

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Venous Blood Collection Devices Market Dynamics
Drivers
Rising prevalence of diseases
Growing rate of acute and chronic diseases all around the globe owing to various factors is one of the major factors fostering the growth of the market. For example- growing incidence rate of blood cancer, infectious diseases such as hepatitis B (HBV), hepatitis C (HCV), human immunodeficiency virus (HIV), malaria, syphilis, and brucellosis is directly and positively influencing the growth of the market.

Research and development proficiencies
Rising expenditure for research and development proficiencies especially in the developed and developing economies pertaining to the medical instruments and devices will further create lucrative market growth opportunities. Research and development proficiencies being conducted pertaining to the advancements in medical devices is also bolstering the market growth rate.

Growing investment for healthcare facilities
Surging focus towards improving the condition of healthcare facilities and improving the overall healthcare infrastructure another important factor fostering the growth of the market. Rising number of partnerships and strategic collaborations between the public and private players pertaining to funding and application of new and improved technology is further creating lucrative market opportunities. Also, rising government initiatives to increase awareness about importance of early diagnosis is yet again bolstering the market growth rate.

Opportunities
Furthermore, upsurge in the public-private funding for target research activities, increase in the incidence of lifestyle-related diseases, surging number of road accidents, rising geriatric population base and rising product innovations and development owing to technological advancements all around the world will extend profitable opportunities for the market players in the forecast period of 2022 to 2029. Additionally, growing number of blood donation and collection camps, rising internet penetration rate, growing emergence of liquid biopsy tests, growing advancements in blood collection procedures and products and increasing per capita expenditure on health care will further expand the market's growth rate in the future.

Global Venous Blood Collection Devices Market Scope
The venous blood collection devices market is segmented on the basis of type, material, application and end users. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Type
Blood Collection Tubes
Needles
Vacuum Blood Collection System
Microfluidic System
Others
Based on type, the venous blood collection devices market is segmented into blood collection tubes, needles, vacuum blood collection system, microfluidic system, micro-container tubes, micro-haematocrit tubes, warming devices, and others. Other devices include venous cannula and blood bags. Blood collection tube is further sub-segmented into plasma separation tube, heparin tube, serum separating tube, EDTA tube, and others.

Material
Plastic
Glass
Stainless Steel
Others
On the basis of material, the venous blood collection devices market is segmented into plastic, glass, stainless steel, ceramic, and others.

Application
Vein Blood Gas Sampling
Intraoperative Blood Salvage
Based on application, the venous blood collection devices market is segmented into vein blood gas sampling and intraoperative blood salvage. Vein blood gas sampling is further sub-segmented into the diagnosis of disease and acid-base status monitoring.

End users
Hospitals and Clinics, Point of Care, Blood Donation Centres
Diagnostic Centres
Others
Based on end users, the venous blood collection devices market is segmented into hospitals and clinics, the point of care, blood donation centres, diagnostic centres, and others.

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Venous Blood Collection Devices Market Regional Analysis/Insights
The venous blood collection devices market is analysed and market size insights and trends are provided by country, type, material, application and end users as referenced above. The countries covered in the venous blood collection devices market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America dominates the venous blood collection devices market because of the strong base of healthcare facilities, widespread utilization of medications, increase in the expenses in the health care, rapid increase in the prevalence of blood cancer, and rising number of research activities in this region. Asia-Pacific is expected to witness significant growth during the forecast period of 2022 to 2029 due to the increase in government initiatives to promote awareness, rise in medical tourism, growing research activities in the region, availability of massive untapped markets, large population pool, and the growing demand for quality healthcare in the region.

Competitive Landscape and Venous Blood Collection Devices Market Share Analysis
The venous blood collection devices market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to venous blood collection devices market.

Some of the major players operating in the venous blood collection devices market are:
BD (US)
Haematonics (US)
Terumo BCT (US)
Fresenius Kabi AG (Germany)
Grifols, S.A. (Spain)
Nipro Medical Corporation (Japan)
Greiner Holding (Austria)
Quest Diagnostics (US)
SARSTEDT AG & Co. (Germany)
Macopharma (France)
Smiths Medical (US)
Cardinal Health (US)
Retractable Technologies (US)
Liuyang Sanli Medical Technology Development (China)
F.L. Medical S.R.L (Italy)
AB Medical (South Korea)
APTCA SPA (Italy)
Jiangsu Micsafe Medical Technology CO., LTD. (China)
Disera Tibbi Malzeme Lojistik Sanayi Ve Ticaret A.Þ (Turkey)
Ajosha Bio Teknik Pvt. Ltd. (India)
Preq Systems (India)
CML Biotech (India)
Lmb Technologie GmbH (Germany)
Mitra Industries Private Limited (India)
Neomedic Limited (UK)

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