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(Health-NewsWire.Net, October 23, 2020 ) Growth of this market include the increasing incidence of infectious diseases, the rising number of accidents & trauma cases, the emergence of liquid biopsy tests, and a demand for blood donations and blood components.
The global blood collection devices market is projected to reach USD 6.4 billion by 2025 from USD 4.8 billion in 2020, at a CAGR of 6.0% between 2020 and 2025.
COVID-19 Impact on Blood Collection Market
The COVID-19 outbreak is an unprecedented global public health challenge and is expected to have a significant impact on the blood collection devices market.
Both hospital and independent laboratories are generally reviewing each test to decide whether to recommend consultations with laboratory hematologists for tests with a higher risk profile or not offer tests that could not be performed safely. This affected the market negatively in the first few months of the pandemic, reducing the use of blood collection devices. However, increasing caution and the rising testing volumes, along with the need for regular health and body checkups will ensure market growth in a later phase.
Results now take an average of four to six days for the general population, much longer than the two to three days required before. This is because tests for hospital patients and symptomatic healthcare workers are prioritized and take one day on average, which has resulted in a delayed cycle. While it has affected market growth to some extent, the situation is expected to change for the better.
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In 2019, the hospitals, ASCs, & nursing homes segment accounted for the largest share of the blood collection devices market. Growth in this market segment can be attributed to the increasing incidence of infectious diseases and the rise in the number of trauma cases, as well as C-sections and organ transplants, have ensured the demand for blood collection equipment and devices in hospital facilities.
Blood collection devices market is segmented into hospitals, ASCs, & nursing homes, blood banks, diagnostic & pathology laboratories, and other end users. In 2019, the hospitals, ASCs, & nursing homes segment accounted for the largest share of the blood collection devices market.
Region Covered in Blood Collection Industry
North America (comprising the US and Canada) accounted for the largest share of the global blood collection devices market in 2019, followed by Europe. Factors such as the increasing prevalence of lifestyle diseases and the rising incidence of blood disorders, better healthcare facilities, and the presence of major manufacturers in the region are stimulating the growth of the blood collection devices market in North America.
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Key Players
Becton, Dickinson and Company (US), , Haematonics (US), Terumo BCT (Japan), Fresenius Kabi AG (Germany), Grifols (Spain), Nipro Medical Corporation (Japan), Greiner Holding (Austria), Quest Diagnostics (US), SARSTEDT AG & Co. (Germany), Macopharma (France), Smiths Medical (US), Kawasumi Laboratories (Japan), Retractable Technologies (US), LiuyangSanli Medical Technology Development (China), F.L. Medical S.R.L (Italy), AB Medical (South Korea), APTCA SPA (Italy), Micsafe Medical Group Limited (China), DiseraTibbiMalzemeLojistik Sanayi VeTicaret A.ª (Turkey), Ajosha Bio Teknik Pvt. Ltd. (India), Preq Systems (India), CML Biotech (India), LmbTechnologie GmbH (Germany), Mitra Industries Private Limited (India) and Neomedic Limited (UK)
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