Surge in Number of Complex Surgeries in North America Bolsters Demand for Blood Collection Tubes
The blood collection tubes market in North America was worth US$300.8 mn in 2014, which is estimated to reach a valuation of US$632.1 mn by 2023, expand at a robust CAGR of 8.6% during the forecast period of 2015 to 2023. The prosperity of this market can be attributed to the vast opportunities available for the players in the form of advanced screening tests, implementation of new blood collection techniques, and advent of automation in the process of collection of blood. These are some of the key factors anticipated to cater a significant demand in the North America market for blood collection tubes across North American countries such as the U.S. and Canada. On the other hand, stringent regulatory guidelines and healthcare policies will also reflect positively on the market during the forecast period as manufacturers are frequently coming up with new and safer technologies in order to collect blood. In addition to that, North America makes for a developed region, and thereby has high level of awareness among the consumers such as hospitals and diagnostic centers. This factor, as well as the subsidies offered by the government in the U.S. and Canada and advancements in blood collection technologies is expected to favor the market in a long-term.
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Based on product type, the global blood collection tubes market has been segmented into herapin tubes, plasma separation tube, EDTA tubes, serum separating tubes, rapid serum tubes, and others. Among these, the serum separating tubes segment accounted for 39.6% shares of the market in 2014, which was a result of utilization of diagnosis purposes across North America and utilization of diagnosis purposes across North America and increasing number of serum samples collected. Serum separating tubes utilize a particular gel that helps in separating blood cells from serum, and also contains particles that cause blood to clot easily. Serum is used to detect the presence of a particular antibody, antigen, hormone, and exogenous substances. Apart from that, the segment of rapid serum tubes is anticipated to increase at a higher rate during the forecast period, which is a result of advent of advanced technologies and incremented efficiency offered by the product.
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The U.S. is the most lucrative country in the North America blood collection tubes market, accounting for 84.6% of the demand, which is primarily a reflection of increasing geriatric population along with the prevalence of various diseases. In addition to that, the increasing government initiatives in the country of the U.S. is expected to drive this market further. For example, introduction of patient protection affordable care act (PPACA) in March 2010 provides healthcare coverage to more than 94% of Americans. Canada is the second most profitable country in the North America blood collection tubes market.
The North America blood collection tubes market is consolidated with a Becton Dickinson and Company being the pioneer and industry leader with 95% of the market in 2014. With a strong product portfolio of pre-analytical systems, BD is expected to maintain its stronghold in the near future. Terumo Corporation and Qiagen N.V. are some of the other prominent companies operating in this market.
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