Blood Collection Market

Blood Collection Market to reach USD 10.59 Billion by 2022 at a CAGR of 5.5%

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Blood collection is the process of acquiring blood samples from the donor for performing laboratory diagnostic tests and treating patients. This is an integral part of the blood management procedure in hospitals and blood banks centers.

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.

The global blood collection market is expected to reach USD 10.59 Billion by 2022 from USD 8.10 Billion in 2017, at a CAGR of 5.5% during forecast period.

Increasing disease incidence and growing number of accidents & trauma cases

The prevalence of infectious diseases such as Human Papillomavirus (HPV), hepatitis, Human Immunodeficiency Virus (HIV), and tuberculosis are high despite significant improvements in sanitation and medicine. Traditionally, antimicrobial therapy was used as a powerful tool to combat infectious diseases; however, over the years, antimicrobial agents have failed to deliver the desired results due to the emergence of drug-resistant microbes. Owing to this, the prevalence of these infectious diseases is increasing globally. The prevalence of lifestyle diseases is also growing across the globe. This will be favorable for the market growth, as blood tests are a primary mode of diagnosing these diseases. An increase in the number of road accidents, fires, and sports injuries has led to the increased occurrence of trauma and injury cases.

According to a WHO Global Status Report on Road Safety, in 2013, road accidents were the eighth-leading cause of death worldwide. Current trends show that by 2030, road accidents will become the fifth-leading cause of death, globally. The National Trauma Institute has stated that trauma injuries accounted for 30% of life years lost (a measure to account for the age at which deaths occur) in the US in 2014.

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Technological advancements in blood collection procedures and products

Collecting blood samples from patients with Difficult Venous Access (DVA) is challenging or sometimes impossible. In DVA patients, the traditionally used blood collection products are often unable to collect adequate samples, which can also lead to repeated attempts to collect blood. This increases the risk of anemia in patients and the risk of transmission of blood-borne pathogens to nurses and phlebotomists.

Hospitals and Pathology laboratories segment to record the highest CAGR

Clinics, big hospitals, multi-specialty hospitals, pathology laboratories, and in-house blood banks is projected to register a higher CAGR during the forecast period. The growth of the this segment can be attributed to the increasing prevalence of diseases for which blood diagnosis is essential. Moreover, the number of organ transplant surgeries has increased over the last decade. Growth in the number of organ transplant surgeries is also expected to drive the market for blood collection in hospitals and pathology laboratories, as patients are prone to blood loss during these procedures.

North America to account for the largest market size

North America is expected to account for the largest share of this market. Government initiatives for blood safety, increasing prevalence of lifestyle diseases, the presence of key players in the region, and increasing adoption of automated blood collection devices are the key growth drivers of the North American market.

Key Market Players

Becton, Dickinson and CompanyMedtronicTerumo Corporation, Haemonetics, Fresenius, Nipro Medical Corporation, F.L. Medical, Greiner Holding, Smiths Group, Grifols, Kawasumi Laboratories, Quest Diagnostics, Sarstedt, Retractable Technologies, Ab Medical.

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