Blood Collection Devices Global Market Types and Applications, Drivers, Ongoing Trends, Future Demand, Challenges, Top Companies And Forecast 2024-2033 | ICU Medical Inc., Terumo BCT Inc., Fresenius Kabi AG, Grifols S.A., Haematonics

The blood collection devices market size has grown strongly in recent years. It will grow from $7.54 billion in 2023 to $8.16 billion in 2024 at a compound annual growth rate (CAGR) of 8.3%. The growth in the historic period can be attributed to increased prevalence of blood-related disorders, rise in in healthcare infrastructure, aging population, government initiatives and regulations .

The blood collection devices market size is expected to see strong growth in the next few years. It will grow to $11.21 billion in 2028 at a compound annual growth rate (CAGR) of 8.3%. The growth in the forecast period can be attributed to rising healthcare expenditure, growing emphasis on personalized medicine and diagnostic testing, increasing research and development activities, rising cases of infectious illnesses. Major trends in the forecast period include minimally invasive techniques, remote blood collection services, automation and robotics, advanced blood collection kits, partnership and collaboration.

Market Overview -
Blood collection devices are devices used to collect blood samples from the body. Blood collection devices are used for health and wellness testing, population studies, or research and preclinical drug studies.

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Rising Incidence Of Infectious Diseases Is Driving Growth
The increase in incidence of infectious diseases is driving the growth of the blood collection devices market. Infectious diseases are infections caused by bacteria, viruses, fungi, or parasites. Infectious disorders such as hepatitis B (HBV), hepatitis C (HCV), the human immunodeficiency virus (HIV), malaria, syphilis, and brucellosis are tested through blood collection and sampling. The constant increase in incidences of infectious diseases and its diagnostics activities are expected to boost the utilization of blood collection devices. According to World Health Organization (WHO), in 2021, an estimated 10.6 million people are infected with tuberculosis globally, 1.6 million died, and 1.5 million people acquired HIV in 2021 while 650,000 people lost lives due to it. Therefore, the increase in incidences of infectious diseases is expected to boost demand for blood collection devices during the forecast period.

Competitive Landscape -
Major companies operating in the blood collection devices market include Becton, Dickinson and Company, Greiner Holding AG, Kabe Labortechnik GmbH, Sarstedt AG & Company, ICU Medical Inc., Terumo BCT Inc., Fresenius Kabi AG, Grifols S.A., Haematonics, Nipro Medical Corporation, Quest Diagnostics Incorporated, Macopharma SA, Smiths Medical International Ltd., Cardinal Health Inc., Retractable Technologies Inc., Sekisui Medical Co. Ltd., Qiagen NV, Smiths Group plc, NIPRO Corporation, PT. Adi Buana Mandiri, Covidien Ltd., Kawasumi Laboratories Inc., F.L. Medical SRL, Ajosha Bio Teknik Pvt. Ltd., A-M Systems Ltd., Commonwealth Serum Laboratories Behring, Teleflex Medical Inc., Abbott Laboratories, Denova Sciences Pte. Ltd., VedaLab SA

Blood Collection Devices Market With Technological Advancements Driving Growth
Technology advancement is a key trend gaining popularity in the blood collection devices market. Many companies operating in the blood collection devices market are developing new products or new technologies to meet fast-growing industry demand and enhance their business presence across the globe. The technologically advanced products developed by companies are focused on enhancing comfort and providing advanced protection to customers. For instance, in April 2022, Owen Mumford, a medical device design and manufacturing company, introduced a new venous blood collection portfolio under its Unistik brand. The new portfolio draws on the company's expertise and history in capillary blood sampling to provide a range of venous devices that ensure patient safety, comfort, and quality. The Unistik ShieldLock Ultra combines a one-handed and in-vein activated safety system to reduce the risk of NSIs. The device also has a unique safety feature that, when activated, closes the tube between the needle and the Luer to avoid blood exposure after the needle is removed from the vein.

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Key Segments -
The blood collection devices market covered in this report is segmented -
1) By Type: Blood Collection Tubes, Lancet, Micro Container Tubes, Warming Devices
2) By Method: Manual Blood Collection, Automatic Blood Collection
3) By Material: Glass, Stainless Steel, Plastic
4) By End User: Hospitals, Blood Donation Centers, Diagnostic Center, Other End Users

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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