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Global Phlebotomy Equipment Market: Overview

Phlebotomy is a medical procedure which involves drawing blood from the patients and preparing it for testing in a laboratory. Phlebotomy is also used to remove blood from the body of people who have large quantity iron in their blood. Blood tests are key to maintaining good health as well as to diagnose diseases at an early stage. Blood analysis and testing should be carried out by utilizing effective and reliable phlebotomy equipment. Commonly utilized phlebotomy equipment include evacuated collection tubes and butterfly needles.

According to the World Health Organization, there are more than 13,000 blood collection centers, operating in approximately 177 countries, which collect approximately 109 million donations annually. There has been an increase of 10.8 million blood donations from voluntary unpaid donors from 2009 to 2013. Southeast Asia and Africa accounted for a prominent share of the total donations. The global phlebotomy equipment market is expanding due to the increasing diagnostic procedure. Improving government reimbursement policies for equipment manufacturing are likely to boost the phlebotomy equipment market globally. Increasing prevalence of diseases due to changed lifestyle, rising worldwide spending on research and development, widespread adoption of automation in laboratories, and adoption of new and innovative techniques in laboratories are factors that are driving the global phlebotomy equipment market.

Global Phlebotomy Equipment Market: Key Segments

The global phlebotomy equipment market can be segmented based on product, end-user, and region. In terms of product, the market can be classified into personal protective equipment, tourniquets, antiseptics, gauze pads, lancets, butterfly needles, sharps containers, evacuated collection tubes, centrifuge machines, blood drawing trays, blood draw chairs, vein detecting devices, and others. In terms of end-user, the global phlebotomy equipment market can be segmented into hospitals, clinics, and others. In terms of revenue, the hospitals segment held a major share of the global phlebotomy equipment market in 2017.

In terms of region, the global phlebotomy equipment market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific is the leading region for phlebotomy equipment market. In terms of revenue, China, Japan, and India hold a major share in the phlebotomy equipment market in Asia Pacific. Adoption and practice of adequate measures of international standards for medical devices and phlebotomy equipment in Malaysia, Australia, India, and South Korea and increasing investment of multinational phlebotomy manufacturers and biopharmaceutical companies in developing countries are expected to drive the phlebotomy equipment market in Asia Pacific. The phlebotomy equipment market in North America and Europe is expanding rapidly due to the rise in prevalence of chronic disease in these regions. Well-established phlebotomy equipment manufacturing industries in North America and rising demand for blood and blood products are boosting the phlebotomy equipment market in North America. Rising number of phlebotomy equipment companies and high R&D budgets in countries in Europe such as Norway, Switzerland, and Denmark are driving the phlebotomy equipment market in Rest of Europe. The phlebotomy equipment market in Latin America is projected to expand significantly in the near future due to better health care infrastructure, economic growth, increase in the number of insurance payers, expansion of the private health care sector, and increase in awareness among people. Brazil and Mexico dominate the phlebotomy equipment market in Latin America. South Africa, Turkey, and other developing countries in Middle East & Africa are the major markets for phlebotomy equipment in the region.

Global Phlebotomy Equipment Market: Key Players

Key players operating in the global phlebotomy equipment market include MarketLab, Inc., Cardinal Health Inc., Kawasumi Laboratories America, Inc., Heathrow Scientific, Medtronic plc, Becton, Dickinson and Company, Greatex Mills Inc., and NIPRO Medical Corp.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

With a robust experience in creating exceptional market reports, Transparency Market Research has emerged as one of the trusted market research companies among a large number of stakeholders and CXOs. Every report at Transparency Market Research goes through rigorous research activity in every aspect. The researchers at TMR keep a close watch on the market and extract beneficial growth-boosting points. These points help the stakeholders to strategize their business plans accordingly.

TMR researchers conduct exhaustive qualitative and quantitative research. This research involves taking inputs from the experts in the market, focused attention on recent developments, and others. This method of research makes TMR stand out from other market research firms.

Here's how Transparency Market Research helps the stakeholders and CXOs through the reports:

Inculcation and Evaluation of Strategic Collaborations: The TMR researchers analyze recent strategic activities like mergers, acquisitions, partnerships, collaborations, and joint ventures. All the information is compiled and included in the report.

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Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Phlebotomy Equipment Market

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