Global Blood Collection Market: Snapshot
The global blood collection market is foretold to grow on the back of leading growth factors such as the elevating prevalence of infectious diseases in developed regions such as North America that spur the adoption of blood collection products. More opportunities could take shape in the market owing to the faster growth of developing regions such as Asia Pacific. This growth could be supported by the rise of emerging markets, increasing disposable income, rising count of hospitals, growing medical tourism, and advancing development of healthcare infrastructure. The application of blood collection in diagnostics could gain strength with the increasing cases of blood-related disorders which require blood for their treatment.
The global blood collection market is forecast to achieve a revenue earning of US$9.8 bn by the completion of 2022 after progressing from a US$7.7 bn earned in 2017. During the forecast period 2017–2022, the market could rise at a 4.7% CAGR.
Blood Collection Needles and Syringes Top Market with Leading Share
The world blood collection market is prognosticated to be classified into vials, blood bags, blood lancets, blood collection tubes, blood collection needles and syringes, and others. Amongst these products, blood collection needles and syringes could grab a king’s share of 29.4% by the end of the forecast period. The annual absolute growth attained by blood collection needles and syringes is predicted to be greater than that of any other product. This segment could grow at a US$0.08 bn annually between 2017 and 2022.
In terms of end user, the world blood collection market is envisaged to be segmented into blood banks, hospitals and diagnostic centers, and other end users. On the basis of application, the market could see a classification into diagnostics and treatment.
The report offers a deep insight into all of these crucial segments of the world blood collection market so as to help readers explore promising prospects about to take birth or already prevailing in the industry.
APEJ Breaks Shackles while Demonstrating Faster Growth in Market
Geographically, the international blood collection market is envisioned to include lucrative regions such as North America, Asia Pacific except Japan (APEJ), and Europe. The authors of the report foresee the market to be dominated by North America expected to garner a revenue earning of US$3.2 bn by the end of 2022. Europe could expand at a slightly lower CAGR than that of North America to reach a valuation of US$2.4 bn by the same year. APEJ, on the other hand, could exhibit a faster growth while rising at a CAGR of 5.1%.
However, Japan is projected to attain a valuation of only US$0.6 bn by 2022 end and the Middle East and Africa (MEA) to expand at a 3.8% CAGR. The figures could be an indication of their slower growth in the international blood collection market.
Some of the prominent companies of the worldwide blood collection market could be Abbott Laboratories, Inc., Medtronic Plc., Becton, Dickinson and Company, Terumo Corporation, Nipro Corporation, QIAGEN N.V., F.L. Medical SRL, Greiner Holding AG, Haemonetics Corporation, and Sarstedt AG & Co.
Global Blood Collection Market: Overview
The global blood collection market is prophesied to ride on the growing awareness about blood donation through various government initiatives. This could eventually up the demand for blood collection products, and thereby produce quality business opportunities in the market. Besides manual blood collection, other methods such as automatic collection of blood are expected to be widely available across the world. Players looking to penetrate in the market could take advantage of such advancements in the industry.
The report offered herewith is expected to help vendors deal with unseen challenges and plan powerful strategies to sustain their growth in the global blood collection market. Each section of the report is aimed toward providing profound and comprehensive information about the market. Inputs from industry experts and other professionals possessing sound knowledge about the nature and dynamics of the market are taken into consideration to present a valuable collection of market data.
Global Blood Collection Market: Dynamics
The world blood collection market is prognosticated to be boosted for attaining an enduring growth in the coming years due to the surging count of surgical procedures performed globally. Another factor that could be deemed important for the growth of the market is the increase in the number of accidents and trauma incidences. The demand for blood collection could be hampered by risks associated with blood transfusion, mostly in underdeveloped nations. However, there are several awareness plans and campaigns conducted by governments and foreign entities to tackle this issue.
Moreover, improving healthcare infrastructure and the mandate of hiring responsible and qualified healthcare professionals could create favorable prospects in the world blood collection market.
Global Blood Collection Market: Segmentation
The international blood collection market is predicted to be segmented as per three categories, i.e. product, end user, and application. In terms of segmentation by product, the market could be encouraged for more growth due to the larger share earned by blood collection needles and syringes. In 2017, this segment collected a revenue of US$2.4 bn. However, there could be more products such as vials, blood bags, blood lancets, blood collection tubes, and others creating opportunities in the market. By end user, the market is anticipated to be divided into hospitals and diagnostic centers, blood banks, and other end users. In terms of application, there could be segments such as diagnostics and treatment showing face in the market.
On the basis of region, North America is predicted to take the lead in the international blood collection market while growing at a 4.9% CAGR between 2017 and 2022. Asia Pacific except Japan (APEJ) could be a faster growing segment, whereas the Middle East and Africa (MEA) and Japan are expected to showcase a lackluster growth. Other regions such as Latin America and Europe could also make their contribution in the market.
Global Blood Collection Market: Competition
The worldwide blood collection market could be marked by leading companies such as Abbott Laboratories, Inc., Medtronic Plc., Becton, Dickinson and Company, Terumo Corporation, Nipro Corporation, QIAGEN N.V., F.L. Medical SRL, Greiner Holding AG, Haemonetics Corporation, and Sarstedt AG & Co. The report offers a detailed study of some of the top-level players operating in the market.