Rise in Demand for Serologic Analysis and Biopsy is Driving Vacutainer Market: Fact.MR
Increasing focus on safer blood transfusion techniques will fuel the demand for vacutainers.
The global vacutainers market is exhibiting a steady growth due to growing importance of safer pre-donation screening in blood transfusion. According to a study by Fact.MR, the expansion of the pharmaceutical and medical healthcare industries will fuel the demand for vacutainers in the coming years.
According to the World Health Organization (WHO), around 120 million units of blood is donated every year. As the process of blood collection requires instruments like vacutainers, the market for it is expected to soar in the forecast years.
Growing incidence of cancer and other chronic diseases is boosting the demand for various products and services in the healthcare industry. This has resulted in increasing demand for blood testing procedures.
According to the National Cancer Institute, around 1,806,590 new cases of cancer were likely to be diagnosed in the U.S. by 2020 and nearly 606,520 fatalities from the disease were to be registered in the same year.
As the incidence of cancer continues increasing, the demand for biopsy tests in hospitals and healthcare centers will rise. This will in turn fuel demand for blood collection tubes across the globe.
“Prominent market players are heavily investing in product development to launch advanced vacutainers with less needle penetration to meet the rising demand for safer blood collection and testing amid COVID-19, consequently fuelling the demand for vacutainers,” says a Fact.MR analyst.
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- North America accounts for around half of market revenue. Increasing demand for blood sampling owing to the rising incidence of chronic diseases such as HIV and AIDS is fueling the market growth in the region.
- The U.K. is anticipated to offer increasing opportunities for expansion on the back of surging incidence of chronic ailments along with the presence of developed medical infrastructure
- Germany has emerged as a highly lucrative market due to the presence of key market players in the country.
- India is demonstrating a stable market growth owing to the increasing cases of chronic ailments.
- The market in East Asia is expected to exhibit a surge amid the coronavirus outbreak.
- Increasing number of accidents and the need for blood transfer will boost the market growth.
- Rising incidence of cancer and other chronic diseases will fuel the demand for vacutainers globally.
- The COVID-19 pandemic forced the developing countries to scale up their laboratory testing capacities driving the market growth.
- Vacutainers are difficult to use, which is negatively affecting the demand.
- High cost of vacutainers compared to other blood collecting instruments might hamper the demand.
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Key players operating in the vacutainers market profiled by Fact.MR includes Becton, Dickinson and Company, Terumo Medical Corporation (TMC), Greiner Bio-One International GmbH, Sekisui Medical Co., Ltd., FL MEDICAL s.r.l. Unipersonale, VITREX Medical A/S, Sarstedt AG & Co., KG, Demophorius Healthcare, Chengdu Rich Science Industry Co., Ltd., Hebei Xinle Science & Technology Co., Ltd., CML Biotech (P) Ltd., Medtronic PLC (Covidien), Narang Medical Limited, Kalstein France, and Zhejiang Gongdong Medical Technology Co., Ltd.
Key players are focusing on launching new product and collaborating with other companies to maintain their leads. For instance,
- Becton, Dickinson and Company announced a long-term strategic partnership with Babson Diagnostics to bring laboratory-quality in 2020.
- In 2020, Greiner Bio-One collaborated with Haematologic Technologies to provide complete development and manufacturing of customized blood collection tubes.
More Insights on the Vacutainers Market
Fact.MR offers unbiased analysis of the vacutainers market. In order to understand the global market potential, its growth, and scope, the market is segmented on the basis of additive (vacutainers without/no additives, vacutainers with additives), application (vacutainers for venous blood collection, and vacutainers for capillary blood collection), buyer type (research laboratories, hospitals and clinics, and diagnostic chains), and material (glass and plastic (PET) vacutainers, and glass vacutainers), across seven regions (North America, Latin America, Europe, South Asia, East Asia, Oceania and Middle East & Africa).
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