Blood Collection Devices Market Size, Share, Industry, Forecast and outlook (2024-2031)

Blood Collection Devices Market is Segmented By Product (Blood Collection tubes, System Type, Needles & Syringes, Blood Bags, Blood Collection Systems/Monitors, Lancets), By Method (Manual Blood Collection, Automated Blood Collection), By Application (Diagnostics, Therapeutics), By End-user (Hospital, Ambulatory Surgery Centers, Diagnostic & Pathology Laboratories, Blood Banks, Others), By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2023-2030.

Blood Collection Devices Market Overview

Blood collection devices market size was valued US$ YY million in 2022 and is estimated to reach US$ YY million by 2030, growing at a CAGR of 5.9% % during the forecast period (2023-2030).

Blood collection devices are crucial in the patient's treatment. For the treatment, blood samples are taken to determine the basic components of metabolism, such as magnesium, sodium, chloride, potassium, blood urea nitrogen, creatinine, lipid levels, and blood glucose.

Blood Collection Devices Market Scope

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Blood Collection Devices Market Dynamics

Advancement in blood collecting devices is expected to drive market growth.

Collecting blood samples from people with DVA is difficult, if not impossible. Traditional blood collection products frequently fail to capture appropriate samples in DVA patients, resulting in many efforts to collect blood. This raises the danger of anemia in patients and the potential of blood-borne disease transmission to nurses and phlebotomists. Robotic blood-sampling equipment has been developed thanks to the work of Yarmush Laboratory. The robot was created to eliminate the stress of numerous blood draws, bruising, and other injuries. It even has a module that can analyze the sample using lab-on-a-chip microfluidics, potentially reducing the time it takes for patients to receive diagnostic results in the future.

Moreover, The researchers were inspired by a military-developed early blood-sampling equipment that employed near-infrared light to visualize veins. It helped field doctors attempt to assist injured soldiers late at night. However, infrared only contributes to part of the picture. Yarmush's gadget also employs ultrasound to obtain three-dimensional data. Thus, the market is expected to drive in the forecast period from the above statements.

Restraint:

Lack of adequate testing in developing countries, some blood collection device product recalls, and the high cost of automated blood collection devices are some factors that the market is expected to hamper in the forecast period.

COVID-19 Impact Analysis On Blood Collection Devices Market

The COVID-19 pandemic has moderately impacted healthcare systems and the market. SARS-CoV-2 has a long incubation period and causes asymptomatic infection, both of which pose significant risks to blood transfusion recipients. Although no research has demonstrated that SARS-CoV-2 can be transmitted through blood transfusions, blood collection and supply institutions are grappling with safe clinical blood use during the pandemic. There is a potential virus transmission to vulnerable patients if volunteers donate blood during the incubation period, which is unquestionably a serious challenge to present blood safety. According to one study, between 4% and 11% of all COVID-19 patients (i.e., over 30,000 patients) required intensive care unit (ICU) admission, with the most seriously ill patients being admitted owing to acute respiratory distress syndrome (ARDS). In treating critically ill patients, blood transfusion is an important supplementary therapeutic approach. Moreover, there are major challenges in current blood collection and supply. Thus, the market will undergo impetus during the forecast period.

Blood Collection Devices Market Segmentation Analysis

Automated Blood Collection segment is expected to hold the largest market share in blood collection devices market.

The automated blood collection segment accounted for the largest market share in 2020. The automated collection method enables technicians to perform a greater variety of tests on smaller sample quantities with greater accuracy than the manual blood collection process. For instance, Trima Accel Version 7 is intended to assist in collecting more products per donor and increasing the efficiency of the blood center. The software has been updated to better account for platelets mobilized by the spleen during collections and accurately predicts donors’ post-collection platelet count. These enhancements may allow the collection of more platelets per donor safely.

Moreover, Trima Accel 7 resets and is ready to start the next collection in less than 30 seconds—helping to be more efficient during peak collection times. Thus, there is an increase in the demand for automated blood collection devices from the above statements. The market segment is expected to hold the largest market share in the forecast period.  

Blood Collection Devices Market Geographical Landscape

North America region holds the largest market share in the global blood collection devices market.

In 2020, North America accounted for the highest revenue share. The increasing prevalence of lifestyle illnesses, rising incidence of blood disorders, better healthcare facilities, and acquisition by the significant market players in the region are some factors that the market is expected to boost in the forecast period. For instance, according to the Leukemia & Lymphoma Society, Approximately every 3 minutes, one person in the US is diagnosed with leukemia, lymphoma or myeloma. An estimated combined total of 186,400 people in the US are expected to be diagnosed with leukemia, lymphoma or myeloma in 2021. Moreover, leukemia, lymphoma and myeloma are expected to cause the deaths of an estimated 57,750 people in the US in 2021.

Additionally, Nationwide Laboratory Services, situated in Boca Raton, was bought by Quest Diagnostics Incorporated in 2021. Quest expanded access to diagnostic innovation and insights, empowering improved health for more communities in South Florida due to the acquisition. Thus, the North American region is expected to hold the largest market share in the forecast period from the above statements.

Blood Collection Devices Market Competitive Landscape

Major key players in the blood collection devices market are Cardinal Health, Becton Dickinson and Company, Medline Industries, LP, Greiner Bio-One International GmbH, Henry Schein, Inc., TERUMO BCT, INC., Fresenius Kabi AG, Grifols, S.A., Nipro Medical Corporation and Smith’s Medical.

Cardinal Health, Inc.:

Cardinal Health, Inc. is based in Dublin, Ohio, formed in 1979. Pharmaceutical and Medical are the two segments in which the company operates. The pharmaceutical segment distributes branded and generic pharmaceuticals, specialty pharmaceuticals, and over-the-counter healthcare and consumer items. Cardinal Health branded medical, surgical, and laboratory equipment and devices are manufactured, sourced, and distributed by the Medical segment. Moreover, the company provides customized solutions for hospitals, healthcare systems, pharmacies, ambulatory surgery centers, clinical laboratories, physician offices, and patients in the home. It has a collaboration agreement with Journey Biosciences, Inc., and the company is operated in operations in more than 35 countries and has approximately 44,000 employees globally.

Product Portfolio: Cardinal Health Luer Lock Blood Collection Adapter: The Cardinal Health Luer lock blood collection adapter eliminates the need for a needle when collecting blood from valve-based I.V. ports.