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Global blood collection market projected to grow at CAGR of 5.5%.
The global blood collection market is projected to reach USD 10.59 billion by 2022 from USD 8.10 billion in 2017, growing at a CAGR of 5.5% during the forecast period. The increasing prevalence of various diseases, rising number of surgeries, and growing number of accidental and trauma cases are fueling the demand for blood collection products. However, the high cost associated with automated blood collection devices is expected to restrain market growth to a certain extent.
The blood collection devices segment is expected to grow at the highest rate during the forecast period.
On the basis of product, the market is broadly segmented into blood collection tube, needles and syringes, blood bags, blood collection device, and lancets. During the forecast period, blood collection devices segment is expected to grow at the highest CAGR. Growth in the blood collection devices segment is driven by the growing prevalence of blood disorders, increasing demand for plasma from biopharmaceutical companies for plasma fractionation, and rising demand for apheresis whole blood collection devices in blood banks in emerging countries.
The automated blood collection to grow at the highest CAGR during the forecast period.
By method, the market is classified into manual blood collection and automated blood collection. The automated blood collection segment is expected to register the highest CAGR during the forecast period. Growth in this segment is attributed to the increasing demand for safer procedures to withdraw and separate blood components for transfusion; availability of advanced blood collecting products; and the rising demand for plasma by biopharmaceutical companies.
The APAC region is expected to grow at the highest CAGR over the next five years.
North America held the largest share of the global blood collection market in 2016, while Asia Pacific APAC is expected to witness the highest growth during the forecast period. A large population base, improving healthcare infrastructure, growing medical tourism, increasing number of hospitals, and rising disposable incomes in the region are expected to offer significant growth opportunities for key players operating in the market.
Break of primary participants was as mentioned below:
By Company Type Tier 140%, Tier 230%, and Tier 330%
By Designation Clevel27%, Director Level18%, and Others55%
By Region North America50%, Europe20%, Asia Pacific20%, and RoW10%
BD US, Medtronic US, and Terumo Japan dominated the blood collection market. Some of the other players competing in this market are Haemonetics US, Fresenius Germany Nipro Medical US, Kawasumi Laboratories Japan, F.L. Medical Italy, Greiner Holding Austria, and Grifols Spain.
From an insight perspective, this research report focuses on qualitative data, market size, and growth of various segments and subsegments, competitive landscape, and company profiles. The qualitative data covers various levels of industry analysis such as market dynamics drivers, restraints, opportunities, and challenges. The report also offers market sizes and data on the growth of various segments of the industry. It focuses on emerging and highgrowth segments, and highgrowth regions. The competitive landscape covers growth strategies adopted by industry players in the last three years. The company profiles comprise basic views on key players in the blood collection market and the product portfolios, developments, and strategies adopted by market players to maintain and increase their market shares in the near future. The abovementioned market research data, current market size, and forecast of future trends will help key players and new entrants to make necessary decisions regarding product offerings, geographical focus, change in approach, RD investments for innovations in products and technologies, and levels of output to remain successful.
Reasons to Buy the Report
The report will enrich established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in turn would help garner a greater market share. Firms purchasing the report could use one or any combination of the belowmentioned five strategies.
This report provides insights on the following pointers:
Market Penetration: Comprehensive information on product and service portfolios offered by the top players in the global blood collection market
Product/Service Enhancement/Innovation: Detailed insights on upcoming trends and new product/service launches in the global blood collection market
Market Development: Comprehensive information about the lucrative emerging markets by type of product, method, and region
Market Diversification: Exhaustive information about new products or product enhancements, growing geographies, recent developments, and investments in the global blood collection market
Competitive Assessment: Indepth assessment of market shares/rank, growth strategies, products, services, and capabilities of leading players in the global market
Original Article: Blood Collection Market by Product Serum Tube, Plasma Tube, EDTA, Heparin, Coagulation, Glucose, Needle, Lancet, ESR, Syringe, Blood Bag, Method Manual, Automated, End User Hospital, Blood Bank Center, Academics, Home Care Global Forecast to 2022 [ReportNEXT ARTICLE
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