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How Has the Blood Collection Devices Market Size Shifted in Recent Years?
The industry of blood collection devices has witnessed substantial growth in the past years. The market size is forecasted to expand from a $7.95 billion valuation in 2024 to approximately $8.55 billion in 2025, representing a compound annual growth rate (CAGR) of 7.5%. The growth during the historic period is a result of several factors namely, the rise in blood-related disease instances, development in healthcare infrastructure, the rising elderly population, and governmental guidelines and initiatives.
Anticipations are high for robust expansion in the blood collection devices market size over the coming years. It’s projected to inflate to $12.12 billion by 2029, with a compound annual growth rate (CAGR) of 9.1%. The anticipated surge during the forecast period may be a result of heightened healthcare spending, reinforced focus on personalized medicine and diagnostic measures, escalating R&D initiatives, and an upwards trend in infectious diseases. Key trends to watch during this period involve less invasive procedures, distantly conducted blood collection services, extensive automation and robotics, advanced blood collection equipment, and strategic partnerships and collaborations.
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Which Market Conditions Are Fueling the Growth of the Blood Collection Devices Industry?
The escalation of infectious diseases’ prevalence is a significant contributor to the expansion of the blood collection devices market. These diseases, which can be triggered by bacteria, viruses, fungi or parasites, include the likes of hepatitis B (HBV), hepatitis C (HCV), the human immunodeficiency virus (HIV), malaria, syphilis, and brucellosis. They are typically diagnosed through blood sampling and collection. The escalating incidences of these infectious diseases and related diagnostic activities are projected to amplify the use of blood collection devices. For example, a report released by the UK Health Security Agency in August 2024 disclosed that as of December 31, 2022, the UK had 3,732 confirmed cases of mpox, predominantly in England.
By May 31, 2023, an additional 21 cases were reported, primarily from England and one from Scotland. Thus, the rise in infectious diseases’ prevalence is anticipated to escalate the demand for blood collection devices during the period under consideration.
Performance of Leading Segments in the Blood Collection Devices Global Market
The blood collection devices market covered in this report is segmented –
1) By Type: Blood Collection Tubes, Lancet, Micro Container Tubes, Warming Devices
2) By Method: Manual Blood Collection, Automatic Blood Collection
3) By Material: Glass, Stainless Steel, Plastic
4) By End User: Hospitals, Blood Donation Centers, Diagnostic Center, Other End Users
Subsegments:
1) By Blood Collection Tubes: Vacuum Blood Collection Tubes, Serum Separator Tubes, EDTA Tubes
2) By Lancet: Safety Lancets, Manual Lancets, Automatic Lancets
3) By Micro Container Tubes: Capillary Tubes, Microtainer Tubes, Hematocrit Tubes
4) By Warming Devices: Blood Warming Devices, Temperature Regulation Units, Infusion Warming Devices
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What Trends Will Shape the Evolution of the Blood Collection Devices Market?
Primarily, businesses in the blood collection devices market, such as Becton, Dickinson, and Company (BD), are making strides toward innovation, by integrating technological advancements like BD RightGauge Technology, BD PentaPoint Technology, and BD Push Button Technology to improve patient comfort, safety, and efficiency of procedures. The BD RightGauge technology introduced by BD is designed to use slimmer needles for blood gathering. As an example, Becton Dickinson India Private Limited, a manufacturing company in India specializing in veterinary instruments and apparatus, launched a product known as UltraTouch in April 2024 using the BD RightGauge technology. The technology behind UltraTouch features a slender needle, aiming to minimize the pain felt during insertion, thus making the entire experience of blood collection less intimidating for patients.
What Are the Regional Hotspots for Blood Collection Devices Market Growth?
North Americawas the largest region in the blood collection devices market in 2024. The Asia-Pacificis expected to be the fastest-growing region in the forecast period. The regions covered in the blood collection devices market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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Which Companies Hold the Largest Market Share in the Blood Collection Devices Industry?
Major companies operating in the blood collection devices market include Becton, Dickinson and Company, Greiner Holding AG, Kabe Labortechnik GmbH, Sarstedt AG & Company, ICU Medical Inc., Terumo BCT Inc., Fresenius Kabi AG, Grifols S.A., Haematonics, Nipro Medical Corporation, Quest Diagnostics Incorporated, Macopharma SA, Smiths Medical International Ltd., Cardinal Health Inc., Retractable Technologies Inc., Sekisui Medical Co. Ltd., Qiagen NV, Smiths Group plc, NIPRO Corporation, PT. Adi Buana Mandiri, Covidien Ltd., Kawasumi Laboratories Inc., F.L. Medical SRL, Ajosha Bio Teknik Pvt. Ltd., A-M Systems Ltd., Commonwealth Serum Laboratories Behring, Teleflex Medical Inc., Abbott Laboratories, Denova Sciences Pte. Ltd., VedaLab SA
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