13/04/2024
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Blood Collection Devices Market Global Forecasts

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The global blood collection devices market is poised to grow at a CAGR of 6.8% over the next five years to reach $8.42 billion by 2027, according to a recent report by MarketsandMarkets. The growth is being fueled by a rising number of blood transfusions, donations, and disorders that require blood draws for diagnosis or treatment. However, the market does face headwinds such as a lack of skilled labor.

The top driver bolstering demand is an increase in hospitals, surgical centers, diagnostic labs and other facilities that utilize blood collection devices and related equipment. With healthcare infrastructure expanding globally, particularly in developing regions, the need for proper blood drawing and storage items is climbing. This trend is reinforced by greater awareness and demand from healthcare providers for advanced, automated options that are safer and more efficient.

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On the other hand, the high upfront and maintenance costs of automated blood collection systems pose barriers for many hospitals and clinics, especially in lower resource areas. The sophistication of the machinery requires intensive capital outlays and the expertise to operate and service it appropriately. These demands make automation prohibitive for some segments of the market.

Additionally, as use of blood collection equipment scales up worldwide, managing the associated storage, shipping and regulation factors becomes more complex. Maintaining sterility during transport, the need for temperature-controlled environments and complying with strict distribution guidelines in different countries adds to costs and presents obstacles for global device companies.

A key opportunity highlighted is the surging utilization of apheresis, a blood component separation procedure that extracts specific parts like plasma or platelets while returning the remainder to the donor. Demand for this technique is increasing due to growth in blood disorders and chronic diseases that rely on targeted blood therapies. Raising public awareness of the benefits of blood component collection versus traditional whole blood draws is also steering the market as is need from the rise in surgeries and transplants globally.

Segmentation by end-user reveals that hospitals, ambulatory surgical centers and nursing homes commanded the largest market share in 2020, accountable for the most blood collecting due to factors like infectious disease testing, trauma cases and frequent surgeries. In terms of products, blood collection tubes dominate overall, driven by single-use vacuum variants that are the norm in most healthcare settings.

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Geographically, North America leads the global market, propelled by the U.S. and Canada’s advanced medical infrastructure and higher healthcare spending levels. The Asia Pacific market is seen as the next big growth territory, with China taking the biggest share of the regional opportunity based on its immense population, escalating chronic disease rates and government promotion of medical technology adoption.

Some of the major companies operating in the blood collection devices sphere include Becton Dickinson, Terumo, Fresenius Kabi, Grifols, Quest Diagnostics and Cardinal Health. Recent developments like Terumo’s collaboration with CSL Plasma on a next-gen plasma collection system and Greiner’s release of an innovative safety heel incision lancet exemplify the product innovation driving further expansion of the blood collection devices universe.

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