Blood Collection Market Size to Reach USD 7.58 Billion in 2028 Growing at a CAGR of 5.8%, according to Emergen Research

Emergen Research has published its latest report titled “Blood Collection Market, By Product Type (Needles, Tubes, Blood Bags, Monitors, Others), By Method (Automated, Manual), By Application (Therapeutics, Diagnostics), By End-use (Hospitals & Nursing Homes, Diagnostic & Pathological Laboratories, Blood Banks, Others), and By Region, Forecast to 2028”

According to Emergen Research, the global blood collection market size was USD 4.79 Billion in 2020 and is expected to reach USD 7.58 Billion in 2028 and register a revenue CAGR of 5.8% during the forecast period, 2021-2028.

Market Dynamics:

The global blood collection market revenue growth is primarily attributed to growing prevalence of chronic and infectious diseases such as HIV, HPV, hepatitis, diabetes, and tuberculosis; increasing volumes of surgical procedures; rising number of liquid biopsy tests; and increasing need for blood components. Blood collection and sampling is important for various diagnostic tests and procedures, and the different blood collection methods include arterial sampling, venipuncture sampling, and fingerstick sampling methods. In arterial sampling, the blood samples are is taken from the arteries, and the method is used in detection of metabolic, respiratory, and mixed acid-base disorders. The venipuncture sampling method is one of the most common blood collection methods, in which the blood sample is taken from a superficial vein; while, the fingerstick sampling method is used to collect a small amount of blood from one’s fingertip. The method is most widely used to check and monitor hemoglobin levels, blood sugar levels, iron deficiency, and cholesterol levels. Other major factors accounting for steady revenue growth of the global blood collection market are technological advancements in blood collection and sampling methods and equipment, increasing regulatory approvals for new and advanced medical technologies and solutions, and rising need for regular health check-ups.

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COVID-19 Impact Analysis:

  • Social distancing and restrictions severely disrupted businesses and operations
  • Lockdowns caused disruptions in transportation and logistics
  • Impacted manufacturing activities and mining operations globally
  • Took a toll on economy of various countries
  • Caused sudden and drastic downturn in economic activity
  • Disrupted agriculture, fisheries, dairy, and other sectors
  • Caused loss of employment and financial crisis
  • Supply impacts were further compounded owing to reduced disposable income
  • Emergence of variants  continue to cause concerns and impact normal routines

Needles Product Type Segment Accounted for Largest Revenue Share in 2020:

Based on product type, the global blood collection market is segmented into needles, tubes, blood bags, monitors, and others. The needles segment accounted for the largest revenue share in the global market in 2020, owing to factors such as growing prevalence of chronic and infectious diseases, rising cases of blood-related disorders, increasing volumes of surgical procedures, and advantages associated with the products such as high affordability and ease of use.

Segment to Account for Fastest Revenue CAGR:

In terms of application, the global blood collection market is segmented into therapeutics and diagnostics. The diagnostics segment is projected to register the fastest revenue growth rate in the global market over the forecast period. Increasing prevalence of blood-related and chronic disorders such as diabetes, cancer, and HIV, and growing use of advanced blood collection technologies in hospitals, nursing homes, diagnostic & pathological laboratories, and blood banks are major factors boosting this segment’s revenue growth.

North America Accounted for Largest Revenue Share in 2020:

Among regional markets, the North America blood collection market accounted for the largest revenue share in the global market in 2020. The United States was the largest contributor to revenue growth of the global market. Key factors driving the North America market revenue growth are rapid adoption of advanced diagnostic techniques and solutions, growing number of blood donation campaigns, increasing healthcare research & development activities, technological advances in healthcare infrastructure, and presence of major key players in the region.

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Major Companies in the Global Blood Collection Market Include:

  • Becton, Dickinson and Company
  • Haematonics
  • Terumo BCT
  • Fresenius Kabi AG
  • Grifols
  • Nipro Medical Corporation
  • Quest Diagnostics
  • SARSTEDT AG & Co.
  • Macopharma
  • Smiths Medical
  • Others

For the purpose of this report, Emergen Research has segmented the global blood collection market based on product type, method, application, end-use, and region:

Product Type Outlook (Revenue, USD Billion; 2018–2028)

  • Needles
  • Tubes
  • Blood Bags
  • Monitors
  • Others

Method Outlook (Revenue, USD Billion; 2018–2028)

  • Automated
  • Manual

Application Outlook (Revenue, USD Billion; 2018–2028)

  • Therapeutics
  • Diagnostics

End-use Outlook (Revenue, USD Billion; 2018–2028)

  • Hospitals & Nursing Homes
  • Diagnostic & Pathological Laboratories
  • Blood Banks
  • Others

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Region Outlook (Revenue, USD Billion; 2018-2028)

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
    • BENELUX
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Rest of Latin America
  • Middle East & Africa
    • Saudi Arabia
    • U.A.E.
    • South Africa
    • Turkey
    • Rest of Middle East & Africa

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