The global market for Blood collection tubes was valued at US$ 1,569.8 million in 2017. The market is forecast to expand at a CAGR of 6.5% during the forecast period, 2018-2026.
Blood collection tubes are plastic or glass tubes used to collect blood specimens for testing. These tubes have closure, which is evacuated in order to build a vacuum in the interior of the tube, which in turn enables drawing an exact volume from the patient. The closures of Blood Collection tubes are color coded which makes the laboratory staff to distinguish between different tests. Blood Collection Tubes are useful diagnostic tools in the practice of laboratory testing. Blood Collection Tubes provide accuracy and precision, safety, ease-of-use and speed of diagnostic process. Blood Collection Tubes contain clot activators coated with water soluble polymer or anticoagulant. Blood collection tubes include Plasma Separating Tube, Serum Separating Tube, Heparin Tubes and EDTA tubes.
The global market for Blood Collection Tubes market is segmented as per product type, material type and end use. The growing demand for accuracy and precision in the medical tests is acknowledged as a key factor driving the Blood Collection Tubes market. Blood Collection tubes are the standard means of collecting blood specimen throughout healthcare & medical research to this day as they provide greater accuracy in blood-to-additive ratios. The IR sterilization of these tubes provide enhanced precision. The growing number of advanced surgeries requiring blood transfusion fuels the blood collection tubes market. End users such as Hospitals, Blood banks and pathology labs could significantly add to the growth of blood collection tubes. Blood collection using these tubes consumes less time as there is single needle penetration for an amount of blood sample to be collected. With the help of the advanced technology and high quality additives in blood collection tubes, the blood collection is done only once and used for multiple tests. The additives preserve the blood constituents in the Blood Collection tubes and the clot activators present clots the blood quickly for the serum separation. High preference for plastic blood collection tubes is expected to boost the growth of the blood collection tubes. The manufacturers are now moving towards the production of plastic blood collection tubes as they are not only inexpensive but also safer than glass. Growth of geriatric population in North America and China to fuel the blood collection tubes market.
Serum separating tube segment of blood collection tubes market was valued at US$ 722.7 million in 2017 and is projected to expand at a CAGR of 7.1% over the forecast period 2018-2026. On the basis of plastic material type, blood collection tubes market is estimated to create incremental $ opportunity of US$ 790.1 Mn, during the forecast period. The Healthcare centers segment was valued at US$ 744.8 Million in 2017 and is forecast to reach US$ 1,371.5 Mn, by the end of the forecast period (2016). Glass Material type segment is forecast to register a CAGR of 5.8%, during the forecast period.
Drivers and Restraints
Blood Collection tubes are the standard means of collecting blood specimen throughout healthcare & medical research to this day. Blood Collection Tubes provide greater accuracy in blood-to-additive ratios. Sterilization by Irradiation method provides an enhanced precision. The global blood collection market embraces spurred growth opportunities arising from the surge in the number of surgical procedures performed globally, including cancer and organ transplant surgeries. End users such as hospitals and diagnostic centers could significantly add to the growth of the blood collection tubes market with the rising health care awareness among people to prevent and control infectious diseases. Blood Collection Tubes provide the ease of blood collection by single penetration of the needle. Blood collection tubes are sterilized using IR technology which eliminates the steps of washing of syringes and tubes. Less time is consumed in the single penetration and collection of the blood. Plastic Blood Collection tubes to boost the growth of blood collection tubes. Change in preference for plastic Blood collection Tubes instead of glass provided several practical operational advantages, such as reduced centrifugation time, ability to use primary collection of tubes, decreased breakage hazard and decreased weight. Plastic blood collection tubes have been widely shown to be suitable for routine clinical chemistry analysis, hormone analysis and therapeutic drug monitoring. Over the past few years there has been a dramatic rise in the population of people more than 65 years of age in North America, therefore stoking the growth of blood collection tubes market. The rapid growth of geriatric population will fuel the growth of blood collection tubes market.
Key players operating in the global market for Blood Collection Tubes include Beckton Dickinson & Co. Greiner Group AG, Terumo Corporation, Abbott Laboratories, Cardinal Health Inc, Qiagen N.V, Improve Medical Instruments., Medtronic PLC, Chengdu Rich Science Industry, and Sarstedt AG & Co.
In this report, Transparency Market Research offers 8-year forecast of the global Blood Collection Tubes Market between 2018 and 2028. In terms of value, the global Blood Collection Tubes Market is expected to expand at a CAGR of 6.5% during the forecast period. The study reveals Blood Collection Tubes Market dynamics in seven geographic segments along with market analysis for current market environment and future scenario over the forecast period of the global Blood Collection Tubes Market.
This Transparency Market Research report studies the global Blood Collection Tubes Market for the period 2018–2026. The prime objective of this report (Blood Collection Tubes Market) is to offer insights and key market trends pertaining to Blood Collection Tubes Market that are gradually helping transform global businesses.
The global Blood Collection Tubes Market report begins with the executive summary for various categories and their share in the Blood Collection Tubes Market. It is followed by market dynamics and overview of the global Blood Collection Tubes Market, which includes TMR analysis of market drivers, restraints, and trends that are affecting growth of the Blood Collection Tubes Market. Furthermore, to understand the popularity of the Blood Collection Tubes segment, the attractiveness index and BPS analysis with elaborated insights on the same is provided, which will show the market’s attractiveness based on factors such as CAGR and incremental opportunity. To show the performance of Blood Collection Tubes Market in each country and region, BPS and Y-o-Y growth analysis is provided.
The global market for Blood Collection Tubes is further segmented as product type, material type and end use. On the basis of product, global market for Blood Collection Tubes is segmented into plasma separating tube, serum separating tube, heparin tube, EDTA tube and rest. On the basis of material type, global market for Blood Collection Tubes is segmented into plastic and glass. On the basis of end use, the global market for Blood Collection Tubes is segmented into healthcare, R&D centres and diagnostic centres.
The next section of the report highlights the Blood Collection Tubes Market, by region, and provides the market outlook for 2018–2026. The study investigates the Y-o-Y growth regionally, as well as analyses the drivers that influence the regional Blood Collection Tubes Market. Main regions assessed in this report include North America, Latin America, Europe, Asia Pacific, and Middle East & Africa (MEA). The report (global Blood Collection Tubes Market) evaluates the present scenario and growth prospects of the regional Blood Collection Tubes Market for 2018–2026.
To ascertain the market size in terms of value and volume, revenue generated by the key manufacturers and their respective production capacity is taken into consideration. The forecast presented here assesses the total revenue generated by value, across the Blood Collection Tubes Market. In order to provide an accurate forecast, we initiated by sizing up the current market, which forms the basis on how the Blood Collection Tubes Market is expected to develop in the future. Given the characteristics of the market, we triangulated the outcome on the basis of three different types of analysis; based on supply side, downstream industry demand and the economic envelope. In addition, it is imperative to note that in an ever-fluctuating global economy, we not only conduct forecasts in terms of CAGR, but also analyse the market based on key parameters, such as year-on-year (Y-o-Y) growth rates, to understand the predictability of the Blood Collection Tubes Market and identify the right opportunities across the market.
The market segment for global Blood Collection Tubes Market have been analysed in terms of basis point share (BPS) to understand the individual segment’s relative contributions to market growth. This detailed level of information is important for identifying various key trends in the Blood Collection Tubes Market. Another key feature of global Blood Collection Tubes Market is the analysis of key segments in terms of absolute dollar opportunity. Absolute dollar opportunity is critical for evaluating the scope of opportunity that a provider can look to achieve, as well as to identify potential resources from a delivery perspective of the Blood Collection Tubes Market. The overall absolute dollar opportunity along with the segmental split is mentioned in global Blood Collection Tubes Market.
To understand key growth segments in terms of growth and adoption for Blood Collection Tubes Market. Globally, Transparency Market Research developed the Blood Collection Tubes Market ‘Attractiveness Index.’ The resulting index should help providers identify real market opportunities.
In the final section of the report on Blood Collection Tubes Market, the ‘dashboard view’ of the companies is provided, to compare the current industrial scenario and their contribution in total Blood Collection Tubes Market. Moreover, it is primarily designed to provide clients with an objective and detailed comparative assessment of key providers specific to a market segment. Report audiences can gain segment-specific manufacturer insights to identify and evaluate key competitors based on the in-depth assessment of their capabilities and success in the Blood Collection Tubes Marketplace.