Blood Collection Market Size, Development, Growth and Demand Forecast to 2022

The global blood collection market is witnessing considerable growth due to increasing geriatric population, increasing number of accidental cases and growing surgical procedures. Moreover, growing prevalence of chronic diseases including cancer, cardiovascular disease, infectious diseases, autoimmune diseases, diabetes mellitus, and infectious diseases is supporting the growth of the market. Based on product type, the blood collection needle and syringe segment lead the market. The increasing demand of needle and syringe for blood collection across the globe, owing to their easy availability and ease of use, is driving the growth of this segment. In addition, rising initiatives undertaken by government associations to boost awareness about blood donations and advanced features of blood collection products are also supporting to the growth of this market.

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The use of RFID technology in blood banks and transfusion medicine has the potential to improve operational efficiency. It helps in providing patient safety at point of care by automatically identifying, reconciling, and tracking blood products throughout the blood supply chain. The increasing use of radiofrequency identification (RFID) and needle free devices is expected to create opportunities for the manufacturers of blood collection products. However, risk associated with blood transfusions and growing needlestick injuries are the key factors hampering the growth of the global market.

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Europe has been the second largest market for blood collection, where the market is driven by the presence of a large pool of patients suffering from chronic diseases, increasing healthcare expenditure and rapidly developing healthcare infrastructure. In 2015, Germany lead the European blood collection market and it is also expected to grow at the fastest rate in Europe, during the forecast period. Globally, the blood collection market is expected to witness the fastest growth in Asia-Pacific during the forecast period. The highest growth in the region is attributed to the increasing prevalence of chronic diseases, increasing per capita income leading to increasing standard of living, increasing healthcare spending, growing demand for better quality medical care, and awareness about blood collection tests in the region.

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The key players operating in the global blood collection market are Abbott Laboratories Inc., Becton, Dickinson and Company, Terumo Corporation, Sarstedt AG & Co., Nipro Medical Corporation, Qiagen, Haemonetics Corporation, Greiner Holding AG and F.L. Medical SRL.

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