Apheresis is necessary for the purification of blood in patients with renal disorders, and it is what drives the market in question. In addition to these factors, increased product development and approvals are expected to open new doors in the coming years.
The global blood collection market was around USD 4,854.7 million in 2020 and is expected to reach USD 7,820.5 million by 2028 and is projected to grow at a CAGR of 6.10% during the forecasted year. Doctors use blood tests to diagnose a variety of illnesses and problems. They can also help you figure out how well your organs are working and how well your treatments are working. Blood tests in particular can help doctors figure out how well organs like the kidneys, liver, thyroid, and heart are working. Because blood testing involves the testing of numerous blood samples, which aids in the identification of infectious diseases such as COVID-19, the global outbreak of COVID-19 is predicted to have a favorable impact on the market. Testing is still an important part in containing the COVID-19 epidemic. As the number of COVID-19 cases rises around the world, governments around the world are looking into the possibility of allowing commercial laboratories to expand blood testing.
Furthermore, due to the virus's spread, blood stores have been depleted. Many people with weakened immune systems who have been infected with COVID-19 and have been admitted to the hospital require a blood or plasma transfusion. Many governments are also taking steps to encourage people to donate blood. The Maharashtra state government in India, for example, launched social media activities to raise the number of blood donors in June 2020. The decision was made due to a blood shortage in the area. During the pandemic, such programs fueled the rise of the blood collection sector in various parts of the world. The increased demand for early detection of chronic illnesses, the rising frequency of trauma and accidents, and an increase in the number of surgical procedures performed worldwide are all factors driving market expansion.
Due to an increase in the number of patients suffering from numerous maladies connected to blood, renal, metabolic diseases, and neurological problems, blood collection has seen a surge in demand. Cancers of the bone marrow, blood cells, lymph nodes, and other elements of the lymphatic system, such as leukaemia, lymphoma, myeloma, and myelodysplastic syndromes (MDS), can affect the bone marrow, blood cells, lymph nodes, and other parts of the lymphatic system. Apheresis technology has been found to be utilised to reduce the number of white cells until other drugs can manage them. According to the Leukemia and Lymphoma Society (LLS), one person in the United States is diagnosed with blood cancer every three minutes.
The market analysis by Adroit Market Research delivers an extensive evaluation of the market. This is accomplished via the use of extensive historical data, qualitative insights, and accurate market size estimations. The forecasts in the study were created utilizing tried-and-tested research techniques and assumptions. As a consequence, the research study functions as a library of market data and information for the whole industry. The article provides a thorough picture of the current market environment, including historical and predicted industry size in terms of volume and value, macroeconomic variables, technological progress, and market regulating factors. The Article includes a detailed assessment of the global blood collection market for the forecast era, 2021 to 2028 and studies the historical developments for the years 2019-20, wherein 2020 is the base year of estimation. The forecast period has been set at 2021 to 2028 for maximum transparency of industry developments. The research includes detailed information on the strategies of the industry leading players, as well as a thorough examination of the various market segments and geographies. The report examines the worldwide blood collection market and its developments across several business verticals and geographies. Its goal is to evaluate the present market size and future growth potential of the blood collection market across several areas.
On the basis of the product segment, the global blood collection market by product is categorized into blood collection tubes, blood bags, needle and syringes and others. The needles and syringes sector are expected to retain its dominance during the research period. Another important element driving industry expansion is the increased demand for syringes and needles in surgical operations and illness diagnostics. The key elements driving the segment's growth are the growing older population and the increased prevalence of chronic disorders. Furthermore, the market is being driven by the increasing number of procedures conducted as a result of various diseases and accidents. The COVID-19 public health emergency has raised the need for blood bags. Many people with weakened immune systems have been infected with COVID-19 and hospitalized, and many of them require blood transfusions.
On the basis of the application segment, the global blood collection market by application is categorized into diagnosis and treatment. In 2018, the diagnostics market accounted for 67.69% of the worldwide diagnostics market. The industry is being driven by the rising incidence of chronic illnesses such as cancer, diabetes, and cardiovascular disease. Because samples are required to detect the source of infectious germs, blood collecting equipment are frequently used in diagnostics. The treatment segment is expected to grow as the number of people diagnosed with cancer, cardiovascular disease, CNS disorders, and other chronic diseases rises, necessitating long-term care and monitoring. Regular blood drawing procedures are expected to fuel the segment over time as the number of patients diagnosed rises.
On the basis of the end-us segment, the global blood collection market by end-use is categorized into hospital, Diagnostic center, blood bank and Others. Hospitals are the most common locations for disease treatment and diagnosis. Life-saving blood transfusions are necessary every day in hospitals all over the world. The market is predicted to rise because to the presence of well-established hospitals in developed economies that use blood collection tubes, syringes, and bags. The recent COVID-19 outbreak has resulted in an increase in the number of blood tests performed, which drives up demand for blood collection supplies such as blood bags, tubes, and other such items. Tropical diseases such as malaria, dengue fever, and yellow fever have become far more common.
On the basis of the regional segment, the greatest proportion of the market examined is held by North America, which can be attributable to rising demand for blood collection products. The primary drivers driving the market's growth are an increase in the number of traffic accidents and the rising incidence of chronic disorders. Because the United States has the biggest COVID-19 impact, the area expects strong market growth during the projection period. According to the most recent WHO data from 2018, road traffic accidents claimed the lives of 15,292 people in Mexico, accounting for 2.70 percent of all deaths. The high frequency of accidents and the high burden of disease in this country increase the demand for blood collection in the region.
The frontline players profiled in the global blood collection market are Terumo Corporation, Medtronic, NIPRO Medical Corp., Qiagen N.V., Sarstedt AG & Co., FL MEDICAL s.r.l. and Abbott Laboratories.
Key Segments of the Global Blood collection Market
Product Overview, 2021-2028 (USD Million)
- Blood Collection Tubes
- Blood Bags
- Needles & Syringes.
Application Overview, 2021-2028 (USD Million)
End-us Overview, 2021-2028 (USD Million)
- Diagnostic center
- Blood Bank
Regional Overview, 2021-2028 (USD Million)
- North America
- Rest of Europe
- Australia and New Zealand
- Rest of APAC
- Saudi Arabia
- South Africa
- Rest of MEA
- Latin America
- Rest of Latin America