Michael Barbella, Managing Editor07.06.22
Solid growth is forecast for the global blood collection devices market over the next decade.
Future Market Insights (FMI) data predicts the sector to expand 6.3% annually to reach $8 billion by 2026 and $11 billion by 2032. Growth factors include the rising number of accidents and trauma cases, the emergence of liquid biopsy tests, and the demand for blood donations and blood component.
A major factor shaping the demand for blood collection devices is the rising prevalence of infectious diseases such as hepatitis B (HBV), hepatitis C (HCV), human immunodeficiency virus (HIV), malaria, syphilis, and brucellosis. These diseases have triggered a greater emphasis and adherence to health checkups and awareness of disease conditions through blood tests, collection/blood drawing devices; since blood tests are the primary mode of diagnosing these diseases, testing will help drive the blood collection devices market's growth and act as a significant contributor to the adoption of blood collection devices.
The global outbreak of COVID-19 is expected to have a positive impact on the blood collection devices adoption trends since blood testing involves the testing of various blood samples, which helps diagnose infectious diseases.
Testing is still an important step in combating the COVID-19 pandemic. As the number of coronavirus cases grows worldwide, governments around the world are looking into the possibility of allowing private laboratories to ramp up blood testing, which in turn, is fueling the market's expansion.
Market Takeaways
"Whole blood sample storage and shipping present significant challenges and costs as it must be used immediately after collection or stored & kept under strict temperature and environmental conditions for analysis or other applications. If blood samples are not refrigerated or frozen, their properties begin to change within hours of collection and this is a prime challenge that the blood collection devices market is confronted with," an FMI researcher noted.
Major players in the blood collection devices sector include Smiths Medical, Becton Dickinson and Company, Terumo BCT, Retractable Technologies, Fresenius Kabi AG, Becton Grifols S.A., Haematonics, Greiner Holding, Quest Diagnostics, Nipro Medical Corporation, SARSTEDT AG & Co., Macopharma, and Cardinal Health.
To increase their share, major corporations are pursuing a variety of organic and inorganic strategies such as collaborations, new product development, acquisitions, and regional expansion. For example, Greiner Bio-One International GmbH acquired VacutteEspana and Vacuette Portula. This acquisition was made to strengthen Greiner Bio-One International's distribution and commercial network for blood collection products.
Drawbridge Health, a person diagnostic testing startup developing proprietary technology designed to integrate blood draw, collection, and sample stabilization into a single device, has been announced by GE Ventures. Healthcare providers will be able to provide a better patient experience by utilizing the new blood sample collection devices and technology. This integrated technology is also being developed to support room temperature shipping and streamlined downstream processing, ensuring consistent and accurate results.
Future Market Insights (FMI) data predicts the sector to expand 6.3% annually to reach $8 billion by 2026 and $11 billion by 2032. Growth factors include the rising number of accidents and trauma cases, the emergence of liquid biopsy tests, and the demand for blood donations and blood component.
A major factor shaping the demand for blood collection devices is the rising prevalence of infectious diseases such as hepatitis B (HBV), hepatitis C (HCV), human immunodeficiency virus (HIV), malaria, syphilis, and brucellosis. These diseases have triggered a greater emphasis and adherence to health checkups and awareness of disease conditions through blood tests, collection/blood drawing devices; since blood tests are the primary mode of diagnosing these diseases, testing will help drive the blood collection devices market's growth and act as a significant contributor to the adoption of blood collection devices.
The global outbreak of COVID-19 is expected to have a positive impact on the blood collection devices adoption trends since blood testing involves the testing of various blood samples, which helps diagnose infectious diseases.
Testing is still an important step in combating the COVID-19 pandemic. As the number of coronavirus cases grows worldwide, governments around the world are looking into the possibility of allowing private laboratories to ramp up blood testing, which in turn, is fueling the market's expansion.
Market Takeaways
- Capital investments in automated blood collection using apheresis devices range between $45,000 and $55,000.
- By end user, the segment of hospitals, ambulatory surgical centers, and nursing homes held a major blood collection devices market share in the recent past.
- North America has been at the forefront of the sales of blood collection devices, owing to presence of key players in the region.
- By method, the segment of manual blood collection is expected to dominate the global market in the coming years.
- By application, the diagnostics segment is anticipated to be at the forefront of the blood collection market.
"Whole blood sample storage and shipping present significant challenges and costs as it must be used immediately after collection or stored & kept under strict temperature and environmental conditions for analysis or other applications. If blood samples are not refrigerated or frozen, their properties begin to change within hours of collection and this is a prime challenge that the blood collection devices market is confronted with," an FMI researcher noted.
Major players in the blood collection devices sector include Smiths Medical, Becton Dickinson and Company, Terumo BCT, Retractable Technologies, Fresenius Kabi AG, Becton Grifols S.A., Haematonics, Greiner Holding, Quest Diagnostics, Nipro Medical Corporation, SARSTEDT AG & Co., Macopharma, and Cardinal Health.
To increase their share, major corporations are pursuing a variety of organic and inorganic strategies such as collaborations, new product development, acquisitions, and regional expansion. For example, Greiner Bio-One International GmbH acquired VacutteEspana and Vacuette Portula. This acquisition was made to strengthen Greiner Bio-One International's distribution and commercial network for blood collection products.
Drawbridge Health, a person diagnostic testing startup developing proprietary technology designed to integrate blood draw, collection, and sample stabilization into a single device, has been announced by GE Ventures. Healthcare providers will be able to provide a better patient experience by utilizing the new blood sample collection devices and technology. This integrated technology is also being developed to support room temperature shipping and streamlined downstream processing, ensuring consistent and accurate results.