Blood Collection Devices Market Report 2023: R&D Consistency Drives Sector Growth

Posted by Ganesh Shinde on February 8th, 2023

During the forecast period, the Blood Collection Devices Market is expected to grow at a CAGR of 6.5%. The market is anticipated to be worth .7 billion in 2023. The values are predicted to exceed US$ 14.4 billion by 2033.

The rising number of accidents and trauma cases, the emergence of liquid biopsy tests, and the demand for blood donations and blood components are some pivotal factors driving the demand for blood collection devices and propelling the market.

The primary blood collection equipment market trends illustrate that as the frequency of infectious diseases rises, so does the demand for effective blood collection. Infections such as hepatitis B (HBV), hepatitis C (HCV), HIV, malaria, syphilis, and brucellosis are likely to fuel market expansion.

The worldwide toll of chronic diseases is gradually increasing. Cardiovascular disease accounts for around half of all chronic disease mortality (CVD). The American Heart Association predicts that the frequency of CVD in the United States will climb to 40.5% by 2030.

A greater emphasis and adherence to health checkups and awareness of disease conditions via blood collection/blood drawing device ensued from burden of various chronic diseases, prevalence of lifestyle diseases around the globe, especially in emerging countries.

As blood tests are the primary mode of diagnosing these diseases, this will flourish the blood collection devices market growth and act as a significant contributor to the adoption of blood collection devices.

Comparative View of Adjacent Blood Collection Devices Market

Competitive Landscape:

A few of the major players are Smiths Medical (US), Dickinson and Company (US), Terumo BCT (US), Retractable Technologies (US), Fresenius Kabi AG (Germany), Becton, Grifols S.A.(Spain), Terumo BCT (US), Haematonics (US), Greiner Holding (Austria), Quest Diagnostics (US), Nipro Medical Corporation (Japan), SARSTEDT AG & Co. (Germany), Macopharma (France), and Cardinal Health (US).

To increase their share, major corporations are pursuing a variety of organic and inorganic strategies such as collaborations, new product development, acquisitions, and regional expansion.

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Blood Collection Devices Market Segmentation

By Type:

• Blood collection tubes
• Needles & syringes
• Blood bags
• Blood collection systems or monitors
• System type
• Lancets
• Others

By End User:

• Hospitals
• Ambulatory Surgical Centre & Nursing Homes
• Blood Bank
• Diagnostic & Pathology Laboratories
• Others

By Method:

• Manual Blood Collection
• Automated Blood Collection

By Application:

• Diagnostic
• Therapeutic