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(Health-NewsWire.Net, April 14, 2020 ) Market Overview
• The Global Needle Free Blood Drawing devices Market is expected to grow at a CAGR during the forecasting period (2019-2026).
• Needle-free blood drawing devices are used to draw the blood from the patient’s vein either by venepuncture or touch-enabled technology. In the case of venepuncture, the Intravenous Therapy (IV) needle is used to puncture the skin and then it is replaced with a plastic tube that becomes soft over some time. A product named PIVO a narrow-gauge tunnel is used to extract blood from veins with the help of existing IV tubes.
• The touch-enabled systems use virtually invisible micro-needles and collect capillary blood by piercing the uppermost layer of the skin with the help of new microfluid extraction process.
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Market Drivers and Restraints
• Increase in blood draws globally is one of the major factor having a positive impact on global needle-free blood drawing devices market, and is also expected to remain high over the forecast period.
• In August 2017, Velano Vascular stated that 400 million blood draws occur annually in the U.S, as much as 70% of all our clinical decisions. Many of these are conducted in hospitals and patients receive almost three draws daily. This number gradually increases to 30% due to difficult venous access because of various conditions it includes (obesity, age, disease, etc.) which makes the process difficult.
• One of the major factor hindering the global needle-free blood drawing devices market is its high economic expenditure and unexplored.
• The cost involved in the process of blood drawing using needle-free blood drawing device is comparatively high when compared with traditional blood drawing.
Segmentation Analysis
• The global needle-free blood drawing devices market is segmented on technology type which includes venepuncture and touch-based. Venepuncture involves piercing the vein, replacing it with a flexible mold and using it as a source to draw the blood. The touch-based system uses a tiny microneedle to suck the blood through the uppermost layer of the skin.
• Touch technology-based devices are dominating the market in 2018, due to its availability and technological advancements. These are the great devices used multiple times on a single person whereas venepuncture based devices are replaced after every usage and it is expensive.
Geography Analysis
• North America dominates the global needle-free blood drawing devices market in 2018, due to the increase in the adoption rate of devices in many health care centers across the region.
• In September 2018, Intermountain healthcare in the U.S started implementing needle-free blood drawing for inpatients blood draws across its 22 hospitals.
• In November 2018, Colorado Hospital started adopting needle-free, and in 6 weeks, the hospital has avoided about 4000 patient needle sticks.
• In September 2018, University Hospitals Cleveland Medical Center in Ohio started adopting needle-free blood drawing device to reduce risks and anxiety from hospitalized patients.
Competitive Trends
• Investments from major companies in the healthcare devices for research and development of needle-free blood drawing devices, Food and Drug Administration (FDA) approvals are driving the global needle-free blood drawing devices market.
• In February 2018, Switzerland based Startup Loop Medical merged with Cerba Health care to develop unique needle-free blood drawing device.
• In February 2017, FDA approved fast and virtually painless blood draw device from seventh sense Biosystems.
• In March 2017, Velano Vascular gets the third FDA approval of needle-free blood draw device.
• In 2016, Seventh Sense Biosystems is funded by Polaris partners, Siemens AG, Novartis International AG to develop a needle-free blood drawing device.
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