Global blood collection market size to expand with 6% CAGR over 2020-2027
The business intelligence report on ‘Global Blood Collection Market’ provides a holistic analysis by elaborating on the top growth stimulants, profitable prospects, challenges, restraints, and limitations shaping the overall business dynamics during 2020-2027. The study systematically investigates the various market segments including product terrain, application spectrum, method of collection, and end-user landscape, while highlighting the regional outlook as well as competitive scenario for the reader to identify the key market trends of this business vertical.
As cited by seasoned experts, global blood collection market had amassed revenues worth USD 4.53 billion in the year 2019 and is slated to expand with a noteworthy compound annual growth rate of 6% during 2020-2027. Rising prevalence of chronic diseases among the global population coupled with increasing occurrence of CVDs (cardiovascular diseases) are some of the key factors augmenting the demand for blood collection tools.
The sudden outbreak of the COVID-19 pandemic has limited the global economy, restraining industry expansion as well as revenue generation by disrupting the entire supply chain. The comprehensive analysis of the market aims to respond to all the client queries while proposing robust business tactics for stakeholders to endure the uncertainties.
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For the uninitiated, blood collection is typically conducted for the treatment of individuals that suffer from major injuries caused by accidents or trauma. It is a crucial stage in the blood management process in hospitals as well as blood banks and can be done manually or with the assistance of automated equipment.
Additional factors such as ongoing technological advancements in the business sphere, growing awareness among the population regarding blood collection processes, increasing investments in the healthcare sector, and favorable government initiatives aimed at driving blood donations are positively swaying the overall market dynamics.
On the contrary, high risks associated with blood transmissions in underdeveloped nations could act as a a major restraining factor for global blood collection industry expansion during the analysis timeframe.
Outlining market segmentations
With regards to product terrain, the market is divided into EDTA tubes, plasma/whole-blood tubes, and blood collection tubes. Based on application spectrum, the industry is bifurcated into therapeutics and diagnostics segments.
The end-user landscape of global blood collection market comprises of blood banks, diagnostic & pathology laboratories, and hospitals. Moving on to method of collection, the business sphere is fragmented into automated blood collection and manual blood collection.
From a regional frame of reference, North America is anticipated to emerge as a lucrative growth avenue for global blood collection market over 2020-2027. Improving healthcare facilities along with rising prevalence of lifestyle diseases are fostering the expansion of the regional market.
Alternatively, Europe blood collection market is calculated to register the highest compound annual growth rate over the stipulated timeframe, on account of high concentration of leading players as well as equipment manufacturers in the region.
To access a sample pages of this report titled “Global Blood Collection Market Size study, by Product (Blood Collection tubes, Plasma/whole-blood tubes, EDTA Tubes), by Application (Diagnostics, Therapeutics) By Method (Manual Blood Collection, Automated Blood Collection) By End user (Hospitals, Diagnostic & Pathology Laboratories, Blood Banksy End user) and Regional Forecasts 2020-2027” in detail along with the table of contents, please click the link below:
Global Blood Collection Market by Product Variety (Revenue, USD Billion, 2017-2027)
- EDTA tubes
- Plasma/whole-blood tubes
- Blood collection tubes
Global Blood Collection Market by Application Scope (Revenue, USD Billion, 2017-2027)
Global Blood Collection Market by Method (Revenue, USD Billion, 2017-2027)
- Automated blood collection
- Manual blood collection
Global Blood Collection Market End-user Analysis (Revenue, USD Billion, 2017-2027)
- Diagnostic & pathology laboratories
- Blood banks
Global Blood Collection Market Regional Outlook (Revenue, USD Billion, 2017-2027)
- Rest of Europe
- South Korea
- Rest of APAC
Rest of the world
Global Blood Collection Market Competitive Landscape (Revenue, USD Billion, 2017-2027)
- Liuyang Sanli Medical Technology Development Co Ltd
- Retractable Technologies Inc.
- Kawasumi Laboratories America Inc.
- Smith’s Group plc
- Maco Pharma International GmbH
- Sarstedt AG & Co. KG
- Quest Diagnostics
- Greiner Holding AG
- Nipro Medical Corporation
Global Blood Bank Market Size study, by Product Type, by Function, by Bank Type, by End-User and Regional Forecasts 2020-2027
Global Blood Bank Market is valued approximately at USD 13.8 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 5.7% over the forecast period 2020-2027. A blood bank is a center where the blood is accumulated, stored, and processed for transfusion. More often, it sometimes refers to as a collection center, and a few hospitals also operate collection of blood. Blood bank stores products which include red blood cells, platelets, and plasma for shorter time duration that usually rely on the outcome of testing procedure.
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