The use of quality blood collection tubes and other accessories are crucial to ensure safe blood testing in healthcare settings. According to a market report from Key Market Insights, the blood collection market is expected to reach USD 10.90 Billion by 2022 from USD 8.65 Billion in 2017, at CAGR of 6.3%.
Key factors that are boosting the market growth include
- Rising incidence of infectious as well as non-infectious diseases
- Increasing number of surgical procedures, and
- Growing number of trauma and accidental cases
However, the risks associated with blood transfusions in underdeveloped regions are expected to restrain market growth during the forecast period 2017-2022.
The report divides the market on the basis of product, end user, application, and region. Based on products, the market is divided into blood collection needles, syringes, blood collection tubes, blood lancets, blood bags, vials, and others (microscopic slides, slide stainers, and test tube racks). The blood collection needles and syringes segment is expected to account for the largest share of the market in 2017, owing to factors such as they are easily available, inexpensive, and do not require special training for use.
The end users of the market are hospitals and diagnostic centers, blood banks, and others (long-term acute care centers, trauma centers, and nursing homes). According to the report, hospitals and diagnostic centers segment were expected to account for the largest share of the blood collection market in 2016. The large share of this segment was attributed to factors such as the increasing demand of donated blood and growing number of organ transplantations which need blood collection products.
On the basis of applications, the market is segmented into diagnostics and treatment. The diagnostics segment that includes infectious diseases and non-infectious diseases and was expected to account for the largest share of the blood collection market in 2016. Significant growth in geriatric population is identified as one of the major factors driving the growth of the diagnostic applications segment.
Key manufacturers in the market include Becton Dickinson, Immucor, Sarstedt, Greiner Group, QIAGEN N.V., Terumo Corporation, FL Medical, Haemonetics, Beckman Coulter and AdvaCare Pharmaceuticals.