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Blood Collection, Processing, Management Devices Market Size in 2029: A Look at Recent Changes and Trends
Over the past few years, the market for blood collection, processing, and management devices has been experiencing robust expansion. The market’s growth is expected to continue, expanding from $3.79 billion in 2024 to $4.09 billion in 2025, showing a compound annual growth rate (CAGR) of 8.0%.
The unprecedented growth during the historic period can be traced back to factors such as the growing prevalence of chronic illnesses, the creation of automated and safer instruments for collecting and processing blood, the enforcement of stringent rules and standards for blood collection, an escalation in the need for quick diagnostic tests, and a rising demand for point-of-care testing.
The market size for blood collection, processing, and management devices is projected to experience substantial growth in the upcoming years, poised to increase to $5.51 billion by 2029 with a compound annual growth rate (CAGR) of 7.7%. The growth predicted in this forecast period can be linked to a rise in the elderly population, increasing instances of surgeries and medical treatments, emphasis on patient convenience and protection, enhanced awareness and education, as well as strict blood collection regulatory standards.
Key trends during the forecast period include the use of automation and robotics, the creation of compact, mobile devices, advancements in needle technology, integration with digital health systems, and the inclusion of wireless technology.
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What Core Factors Are Driving the Expansion of the Blood Collection, Processing, Management Devices Market?
The surge in recognition and need for blood donations is set to fuel the expansion of the market for blood collection, processing, and management devices in the future. Various intertwined aspects contribute to this rising awareness and demand, such as the development in medical treatments, incidental occurrences and emergencies, and the requirement for blood transfusions due to more advanced methods and remedies for chronic illnesses, especially among the elderly population.
As crucial components in aiding the sector of blood donations, the devices for blood collection, processing, and management streamline the entire procedure, offering safety, efficacy, and dependability right from the recruitment of donors to the delivery of blood products to patients. For example, Statistics Poland reported that in 2022, blood donors contributed 1,302.9 thousand whole blood donations, marking an increase of 41.9 thousand donations compared to the previous year.
Consequently, the burgeoning awareness and necessity for blood donations are anticipated to fuel the growth of the market for blood collection, processing, and management devices.
How Is the Blood Collection, Processing, Management Devices Market Structured Across Key Segments?
The blood collection, processing, management devices market covered in this report is segmented –
1) By Product: Devices, Consumables, Software, Servicing
2) By Application: Diagnostics, Therapeutics, Research, Other Applications
3) By End-user: Hospitals, Diagnostic Laboratories, Academic And Research Laboratories, Blood And Blood Component Banks, Ambulatory Surgical Center, Other End-Users
Subsegments:
1) By Devices: Blood Collection Needles, Blood Collection Tubes, Blood Separation Units, Centrifuges, Blood Bag Systems, Blood Processing Systems, Blood Warmers
2) By Consumables: Blood Collection Bags, Blood Tubes, Filters and Separators, Reagents And Additives For Blood Processing
3) By Software: Blood Management Software, Laboratory Information Management Systems (LIMS), Patient Tracking and Monitoring Software, Data Analytics Software For Blood Management
4) By Servicing: Installation and Setup Services, Maintenance and Calibration Services, Training and Support Services, Repair and Replacement Services
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What Innovation Trends Will Redefine the Blood Collection, Processing, Management Devices Market Landscape?
Prominent businesses in the market for blood collection, processing, and management devices are introducing unique products incorporating pioneering technologies like RightGauge technology to increase accuracy and efficiency in blood collection procedures. RightGauge technology is a novel method for blood collection that guarantees accurate needle positioning, reducing discomfort for patients.
For instance, in March 2024, a US medical technology firm, Becton, Dickinson and Company (BD), released the BD Vacutainer UltraTouch Push Button Blood Collection Set in India. This breakthrough device, integrated with BD RightGauge technology, uses a finer needle to maintain steady blood flow, thereby decreasing discomfort for patients.
The device features a push-button system for needle retraction after collection, improving safety for healthcare workers.
Where Is the Blood Collection, Processing, Management Devices Market Experiencing the Fastest Regional Growth?
North America was the largest region in the blood collection, processing, management devices market in 2023. The regions covered in the blood collection, processing, management devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Leading Players Shaping the Future of the Blood Collection, Processing, Management Devices Industry
Major companies operating in the blood collection, processing, management devices market are McKesson Corporation, Cardinal Health Inc., F. Hoffmann-La Roche AG, Thermo Fisher Scientific Inc., Abbott Laboratories, Fresenius SE & Co.
KGaA, Becton, Dickinson and Company, Medline Industrie LP, Avantor Inc., Grifols S.A., Terumo Corporation, PerkinElmer Inc., bioMérieux SA, Nipro Corporation, Sysmex Corporation, Bio-Rad Laboratories, Inc., Haemonetics Corporation, Sarstedt AG & Co. KG, Greiner Bio-One International GmbH, Macopharma, Immucor, Trivitron Healthcare, HemoCue AB, EKF Diagnostics, Sebia
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