Growing concerns about the spread of infectious diseases through donated blood has increased demand for blood and blood products.
Global Venous Blood Collection Devices Market: Introduction
Growing concerns about the spread of infectious diseases through donated blood has increased demand for blood and blood products. Venous blood collection devices are vessels utilized to gather, inspect, and test blood. These devices are user-friendly and provide better mechanical support as well as protection from radiation and pollution. Additionally, these blood collection devices offer the correct filling volume. Increase in diagnostic and screening procedures for various diseases, rise in health awareness prompting interest for blood collection devices for testing, and inclination toward disposable products are the factors boosting the growth of the global venous blood collection devices market. However, risks associated with contamination of these products, significant pricing pressure, and inferior quality products from unknown manufacturers are projected to restrain the global venous blood collection devices market during the forecast period.
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Key Drivers of Global Venous Blood Collection Devices Market
Complications of Blood Transfusion
Complications of blood transfusion are rare but can be life threatening. Allergic reactions to blood received during a transfusion, even when given the right blood type, can be observed in some patients. In some cases, symptoms can include hives and itching. As in most allergic reactions, this can be treated with antihistamines. All donated blood is thoroughly tested for HIV. There is a 1 in 2 million chance that donated blood will not only carry HIV, but also infect a transfusion recipient. The odds of contracting hepatitis B from donated blood is about 1 in 300,000. The risk of hepatitis C is 1 in 1.5 million. According to the World Health Organization, 42% of the 117.4 million blood donations collected globally are collected in high-income countries, home to 16% of the world’s population.
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Rise in Prevalence of Blood Disorders
According to the Office of Disease Prevention and Health Promotion, large number of people in the U.S. have genes for bleeding and clotting disorders and hemoglobinopathies. About 1.2 million people in the U.S. develop blood clots in veins of the leg. This condition is called deep venous thrombosis (DVT). According to the World Health Organization, hemoglobin disorders were originally endemic in 60% of 229 countries, potentially affecting 75% of births. However, these are common in 71% of countries, affecting among 89% of births (either in the whole population or among minorities), which prompts policymakers to consider the most appropriate strategy for treatment and prevention. At least 5.2% of the world's population (and over 7% of pregnant women) carry a significant variant. Hemoglobin S accounts for 40% of carriers but causes over 80% of disorders owing to localized very high carrier prevalence, around 85% of sickle-cell disorders, and over 70% of all affected births occur in Africa. Hence, rise in prevalence of blood disorders is expected to drive the global market.
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North America to Account for Major Share of Global Venous Blood Collection Devices Market
North America is projected to account for major share of the global venous blood collection devices market during the forecast period. Growth of the market in North America is attributed to presence of large number of companies (mid- and large-sized), rapid emergence of new players, and early adopters. However, the market in Asia Pacific is anticipated to expand at the fastest CAGR during the forecast period. Increase in awareness about blood donation and entry of major players are the key factors driving the market in the region.
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Key Players Operating in Global Venous Blood Collection Devices Market
The global venous blood collection devices market is highly consolidated owing to the presence of small number of key players. Leading players operating in the global venous blood collection devices market are:
- Becton, Dickinson and Company
- F. Hoffmann-La Roche Ltd.
- Sekisui Chemical Co., Ltd.
- QIAGEN
- Narang Medical
- Zhejiang Gongdong Medical Technology Co., Ltd.
- Medtronic plc
- Weihai Hongyu Medical Devices Co., Ltd.
- Ionis Pharmaceuticals
- Thermo Fisher Scientific, Inc.
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