Blood Collection, Processing, Management Devices Market Set to Reach $5.51 Billion by 2029 with 7.7% Yearly Growth

Which drivers are expected to have the greatest impact on the over the blood collection, processing, management devices market's growth?
The surge in consciousness and necessity for blood donation is foreseen to push the expansion of the blood collection, handling, and management devices sphere in the future. Several interrelated elements, such as improvements in medical treatments, emergencies, accidents, and the requirement for blood transfusions owing to complex procedures and treatments for chronic illnesses, especially in older age groups, multiply the growing consciousness and demand for blood donations. Blood collection, handling, and management implements play an integral role in bolstering the blood donation industry. The device makes the whole process easy, enhancing safety, productivity, and dependability from the enlistment of donors to the supply of blood products to the patients. For instance, as per Statistics Poland 2022 report, blood donors contributed 1,302.9 thousand donations of whole blood, marking an increase of 41.9 thousand donations from the previous year, 2021. Hence, the escalating consciousness and necessity for blood donations will fuel the blood collection, handling, and management device segment.

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What is the future CAGR of the blood collection, processing, management devices market, and how will it impact industry expansion?
In recent times, the market size for blood collection, processing, and management devices has witnessed substantial growth. The market, which is expected to be $3.79 billion in 2024, will probably rise to $4.09 billion in 2025, indicating a compound annual growth rate (CAGR) of 8.0%. The increase observed in the historical duration is due to escalating chronic diseases, the advancement of automatic and safer devices for blood collection and processing, the enforcement of strict regulations and standards for harvesting blood, the rising necessity for rapid diagnostic tests, and the demand for point-of-care testing.

The market size for devices related to blood collection, processing, and management is projected to witness robust expansion in the upcoming years. The market value is set to reach $5.51 billion in 2029, increasing at a compound annual growth rate (CAGR) of 7.7%. This growth during the projection period can be traced back to a soaring elderly population, an increase in the number of surgeries and medical procedures, a heightened emphasis on patient comfort and safety, rising awareness and education, and rigid standards for blood collection imposed by regulatory bodies. Key trends during the forecast period encompass the inclusion of automation and robotics, the advent of compact, portable devices, advancements in needle technologies, integration with digital health platforms, and the incorporation of wireless technology.

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What are the most significant trends transforming the blood collection, processing, management devices market today?
Key corporations within the blood collection, processing, and management devices industry are pioneering new products through advanced technologies such as RightGauge technology, to improve accuracy and productivity in blood collection procedures. RightGauge technology brings innovation to blood collection by providing accurate needle placement and reducing patient discomfort. For example, in March 2024, the American medical technology firm, Becton, Dickinson and Company (BD), launched its BD Vacutainer UltraTouch Push Button Blood Collection Set in India. This groundbreaking device, which harnesses BD RightGauge technology, uses a finer needle to maintain consistent blood flow, minimizing patient discomfort. Furthermore, it features a push-button system for retracting the needle after collection, thereby improving safety for medical professionals.

Which key market segments comprise the blood collection, processing, management devices market and drive its revenue growth?
The blood collection, processing, management devices market covered in this report is segmented -

1) By Product: Devices, Consumables, Software, Servicing
2) By Application: Diagnostics, Therapeutics, Research, Other Applications
3) By End-user: Hospitals, Diagnostic Laboratories, Academic And Research Laboratories, Blood And Blood Component Banks, Ambulatory Surgical Center, Other End-Users

Subsegments:
1) By Devices: Blood Collection Needles, Blood Collection Tubes, Blood Separation Units, Centrifuges, Blood Bag Systems, Blood Processing Systems, Blood Warmers
2) By Consumables: Blood Collection Bags, Blood Tubes, Filters and Separators, Reagents And Additives For Blood Processing
3) By Software: Blood Management Software, Laboratory Information Management Systems (LIMS), Patient Tracking and Monitoring Software, Data Analytics Software For Blood Management
4) By Servicing: Installation and Setup Services, Maintenance and Calibration Services, Training and Support Services, Repair and Replacement Services

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Which geographical regions are pioneering growth in the blood collection, processing, management devices market?
North America was the largest region in the blood collection, processing, management devices market in 2023. The regions covered in the blood collection, processing, management devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Who are the leading players fueling growth in the blood collection, processing, management devices market?
Major companies operating in the blood collection, processing, management devices market are McKesson Corporation, Cardinal Health Inc., F. Hoffmann-La Roche AG, Thermo Fisher Scientific Inc., Abbott Laboratories, Fresenius SE & Co. KGaA, Becton, Dickinson and Company, Medline Industrie LP, Avantor Inc., Grifols S.A., Terumo Corporation, PerkinElmer Inc., bioMérieux SA, Nipro Corporation, Sysmex Corporation, Bio-Rad Laboratories, Inc., Haemonetics Corporation, Sarstedt AG & Co. KG, Greiner Bio-One International GmbH, Macopharma, Immucor, Trivitron Healthcare, HemoCue AB, EKF Diagnostics, Sebia

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What Is Covered In The Blood Collection, Processing, Management Devices Global Market Report?

•Market Size Forecast: Examine the blood collection, processing, management devices market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the blood collection, processing, management devices market for a structured understanding.
•Key Players Overview: Analyze major players in the blood collection, processing, management devices market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the blood collection, processing, management devices market.
•Segment Contributions: Evaluate how different segments drive overall growth in the blood collection, processing, management devices market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the blood collection, processing, management devices market.
•Industry Challenges: Identify potential risks and obstacles affecting the blood collection, processing, management devices market.
•Competitive Landscape: Review strategic developments in the blood collection, processing, management devices market, including expansions, agreements, and new product launches.

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