“Global blood collection market projected to grow at CAGR of 5.5%.”
The global blood collection market is projected to reach USD 10.59 billion by 2022 from USD 8.10 billion in 2017, growing at a CAGR of 5.5% during the forecast period. 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. However, the high cost associated with automated blood collection devices is expected to restrain market growth to a certain extent.
“The blood collection devices segment is expected to grow at the highest rate during the forecast period.”
On the basis of product, the market is broadly segmented into blood collection tube, needles and syringes, blood bags, blood collection device, and lancets. During the forecast period, blood collection devices segment is expected to grow at the highest CAGR. Growth in the blood collection devices segment is driven by the growing prevalence of blood disorders, increasing demand for plasma from biopharmaceutical companies for plasma fractionation, and rising demand for apheresis & whole blood collection devices in blood banks in emerging countries.
“The automated blood collection to grow at the highest CAGR during the forecast period.”
By method, the market is classified into manual blood collection and automated blood collection. The automated blood collection segment is expected to register the highest CAGR during the forecast period. Growth in this segment is attributed to the increasing demand for safer procedures to withdraw and separate blood components for transfusion; availability of advanced blood collecting products; and the rising demand for plasma by biopharmaceutical companies.
“The APAC region is expected to grow at the highest CAGR over the next five years.”
North America held the largest share of the global blood collection market in 2016, while Asia Pacific (APAC) is expected to witness the highest growth during the forecast period. A large population base, improving healthcare infrastructure, growing medical tourism, increasing number of hospitals, and rising disposable incomes in the region are expected to offer significant growth opportunities for key players operating in the market.
Break of primary participants was as mentioned below:
- By Company Type – Tier 1–40%, Tier 2–30%, and Tier 3–30%
- By Designation – C-level–27%, Director Level–18%, and Others–55%
- By Region – North America–50%, Europe–20%, Asia Pacific–20%, and RoW–10%
BD (US), Medtronic (US), and Terumo (Japan) dominated the blood collection market. Some of the other players competing in this market are Haemonetics (US), Fresenius (Germany) Nipro Medical (US), Kawasumi Laboratories (Japan), F.L. Medical (Italy), Greiner Holding (Austria), and Grifols (Spain).
From an insight perspective, this research report focuses on qualitative data, market size, and growth of various segments and subsegments, competitive landscape, and company profiles. The qualitative data covers various levels of industry analysis such as market dynamics (drivers, restraints, opportunities, and challenges). The report also offers market sizes and data on the growth of various segments of the industry. It focuses on emerging and high-growth segments, and high-growth regions. The competitive landscape covers growth strategies adopted by industry players in the last three years. The company profiles comprise basic views on key players in the blood collection market and the product portfolios, developments, and strategies adopted by market players to maintain and increase their market shares in the near future. The above-mentioned market research data, current market size, and forecast of future trends will help key players and new entrants to make necessary decisions regarding product offerings, geographical focus, change in approach, R&D investments for innovations in products and technologies, and levels of output to remain successful.
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The report will enrich established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in turn would help garner a greater market share. Firms purchasing the report could use one or any combination of the below-mentioned five strategies.
This report provides insights on the following pointers:
- Market Penetration: Comprehensive information on product and service portfolios offered by the top players in the global blood collection market
- Product/Service Enhancement/Innovation: Detailed insights on upcoming trends and new product/service launches in the global blood collection market
- Market Development: Comprehensive information about the lucrative emerging markets by type of product, method, and region
- Market Diversification: Exhaustive information about new products or product enhancements, growing geographies, recent developments, and investments in the global blood collection market
- Competitive Assessment: In-depth assessment of market shares/rank, growth strategies, products, services, and capabilities of leading players in the global market