Blood Collection Market to Grow at CAGR of 6.07% through 2029
Rising surgical
procedures and chronic diseases along with growing advancements in medical
technology is expected to drive the Global Blood Collection Market growth in
the forecast period, 2025-2029.
According to
TechSci Research report, “Blood Collection Market – Global Industry Size,
Share, Trends, Competition, Forecast & Opportunities, 2019-2029F”, the
Global Blood Collection Market stood at USD
9.26 billion in 2023 and is anticipated to project steady growth in
the forecast period with a CAGR of 6.07%
through 2029. This can be ascribed to growing medical interventions,
rising emergency and trauma cases, and increasing technological innovations in
blood collection methods and storage techniques.
The surge in
chronic conditions, ranging from diabetes and cardiovascular diseases to
autoimmune disorders, is intricately linked to a parallel increase in the
demand for blood collection. As these diseases impose diverse healthcare needs,
the importance of efficient blood collection becomes more pronounced than ever
before. According to the World Health Organization, Noncommunicable diseases
(NCDs) account for around 41 million annual deaths, or 74% of all deaths that
occur worldwide. Also, each year approximately 17 million people across the
world die from an Noncommunicable disease (NCD) before they turn 70. Out of
these 86% of deaths take place in low- and middle-income nations. These
alarming figures highlight the urgent need for enhanced medical interventions
and therapies, many of which center on successful blood collection and
management. Similarly, cardiovascular diseases, a leading cause of mortality, often require
blood collection to monitor lipid profiles, assess cardiac enzymes, and
evaluate overall cardiovascular health. Rising development of
automated Blood Collection Devices is propelling the demand for global blood
collection market. Automation has taken center stage in blood collection, with
automated devices redefining the efficiency and accuracy of the process. For
instance, the Terumo Penpol, an automated blood component extractor, streamlines
blood processing by accurately separating blood components and reducing the
risk of human error. These devices not only expedite collection but also
enhance the quality and consistency of blood products, ultimately benefiting
patient care.
Growing mergers and acquisitions have been a notable trend within the blood
collection industry, shaping the competitive landscape and often resulting in
enhanced capabilities, expanded market reach, and improved patient care. For
instance, In 2022, Grifols announced the complete acquisition of Biotest
Biotest US Corporation, a company specializing in plasma collection centers and
plasma-derived therapies. This acquisition expanded Grifols' presence in the
United States, enabling the company to increase its plasma collection
capabilities and broaden its product portfolio. Also, Haemonetics, a leading
provider of blood management solutions, has also engaged in strategic
acquisitions to bolster its offerings. In 2021, Haemonetics acquired Cardiva
Medical, a medical device company known for vascular closure technologies. This
move complemented Haemonetics' existing blood management solutions and expanded
its reach into cardiovascular procedures, diversifying its product portfolio. Governments around the world have taken proactive measures to
bolster the demand for blood collection through various strategic initiatives.
These efforts, aimed at raising awareness, improving infrastructure, and
enhancing safety protocols, have played a pivotal role in ensuring a steady
supply of vital blood products for medical interventions. Also, the World Health Organization (WHO) has been a driving
force in advancing blood safety on a global scale. While not restricted to a
specific year, WHO's ongoing Global Blood Safety Initiative focuses on
improving the safety, quality, and availability of blood products. Through
collaborative efforts, guidelines, and advocacy, WHO's initiative continues to
propel the demand for safe blood collection across the world. However,
ensuring the safety and quality of donated blood in the face of emerging
pathogens and novel diseases is expected to slow down the growth of the market
in the coming years.
Browse over XX market data Figures spread through XX Pages and an in-depth TOC on "Global Blood Collection Market”
The Global Blood
Collection Market is segmented into collection site, application, method,
end-use, regional distribution, and company
Based on method, the Global
Blood Collection Market is witnessing a dynamic shift with both manual and
automated blood collection methods playing pivotal roles in meeting the growing
demand for blood products and services. However, in recent years, the trend has
been increasingly leaning towards automated blood collection systems, which are
gradually dominating the market. Manual blood collection methods have long been
the conventional approach used in healthcare settings worldwide. These methods
typically involve the use of traditional venipuncture techniques, where a
healthcare professional inserts a needle into a vein to draw blood manually.
While manual blood collection has been widely practiced and proven effective
for decades, it is associated with certain limitations and challenges.
One of the
primary drawbacks of manual blood collection is the potential for human error.
Phlebotomists may encounter difficulties in locating veins, leading to multiple
needle sticks and patient discomfort. Manual techniques may result in
variations in sample volume and inadequate mixing of blood additives,
compromising the accuracy and reliability of test results. Manual
blood collection processes are labor-intensive and time-consuming, often
leading to inefficiencies in healthcare workflows. Automated blood collection
systems offer numerous advantages over manual methods, driving their increasing
dominance in the market. Automated systems utilize advanced technology, such as
robotics and sensor technology, to streamline the blood collection process and
enhance efficiency, accuracy, and patient comfort. One of the key benefits of
automated blood collection systems is their ability to standardize and control
the collection process, minimizing the risk of errors and ensuring consistent
sample quality. These systems employ pre-programmed protocols to guide the
collection procedure, reducing variability and improving reproducibility across
samples. Automated devices often feature built-in safety
mechanisms, such as vein visualization technology and needle insertion guides,
to enhance precision and minimize the risk of complications.
Based on region,
the North America region has established itself as the leader in the global
blood collection market due to several key factors. North America
stands at the forefront of the global blood collection market, owing to a
combination of factors that contribute to its dominance in this vital sector of
healthcare. Central to its leadership is its advanced healthcare infrastructure,
characterized by state-of-the-art medical facilities, cutting-edge
technologies, and a well-established regulatory framework. This environment not
only facilitates the adoption of sophisticated blood collection techniques but
also ensures adherence to stringent quality standards and patient safety
protocols. The region's demographic landscape also plays a significant role in
driving the demand for blood collection products and services. With an
increasing prevalence of chronic diseases such as cardiovascular ailments,
diabetes, and cancer, coupled with a growing aging population, there is a
heightened need for blood-related interventions and treatments. As a result,
healthcare providers rely heavily on blood collection to meet the diagnostic,
therapeutic, and transfusion needs of patients across various medical
specialties.
North America's
commitment to research and development (R&D) is a key driver of market
growth. The region boasts a robust ecosystem of academic institutions, research
organizations, and biotechnology companies, fostering innovation and the
development of next-generation blood collection technologies. This continuous
innovation enables healthcare professionals to access advanced tools and
methodologies that enhance the efficiency, accuracy, and safety of blood
collection procedures. In addition to R&D investments, North America
demonstrates strong initiatives for blood donation and transfusion safety,
which further contribute to market expansion. National blood collection agencies
and organizations collaborate with healthcare providers to ensure a stable and
safe blood supply chain, addressing critical needs in emergency situations,
surgeries, and medical treatments. These efforts underscore the region's
commitment to maintaining high standards of blood collection and transfusion
practices.
Major companies
operating in Global Blood Collection Market are:
- NIPRO Medical Corporation
- Abbott
Laboratories Inc.
- Becton,
Dickinson and Company
- Terumo
Corporation
- Qiagen
N.V
- Medtronic
Plc
- FL
Medical s.r.l.
- SARSTEDT
AG & Co. KG
- Greiner
Holding AG
- Haemonetics
Corporation
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“The future of
the Global Blood Collection Market appears promising, driven by several key
factors shaping the healthcare landscape worldwide. As advancements in medical
technology continue to accelerate, the demand for efficient and innovative
blood collection solutions is expected to rise. Technological innovations such
as automation, miniaturization, and integration with digital health platforms
are anticipated to revolutionize blood collection processes, making them more
convenient, accurate, and patient-friendly. The increasing prevalence of
chronic diseases, demographic shifts, and a growing aging population are
projected to drive sustained demand for blood collection services. Routine
blood tests for diagnostic purposes, blood donations, and therapeutic
interventions are expected to remain integral components of modern healthcare
delivery systems, further fuelling market growth. The globalization of
healthcare and the emergence of telemedicine are likely to create new
opportunities for blood collection companies to expand their reach and tap into
previously underserved markets. As healthcare systems evolve to become more
interconnected and patient-centric, blood collection technologies will play a
vital role in supporting diagnostic and treatment protocols across diverse
healthcare settings. Proactive initiatives by governments, healthcare
organizations, and non-profit entities to raise awareness about the importance
of blood donation and transfusion safety are expected to drive market growth.
These efforts aim to address critical issues such as blood shortages,
transfusion-transmitted infections, and ensuring the availability of safe and
screened blood products for patients in need”, said Mr. Karan Chechi, Research
Director, TechSci Research, a research-based management consulting firm.
“Blood Collection Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Collection Site (Venous {Needles and Syringes, Blood collection Tubes, Blood Bags, Others}, Capillary {Lancets, Micro-Container Tubes, Micro-Hematocrit Tubes, Warming Devices, Others}), By Application (Diagnostics, Treatment), By Method (Manual, Automated), By End-use (Hospitals, Blood Banks, Others), By Region, and Competition, 2019-2029F”,
has evaluated the future growth potential of Global Blood Collection Market and
provides statistics & information on market size, structure and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision makers take sound investment decisions. Besides, the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in Global Blood Collection Market.
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