Blood Collection Market worth 9.90 Bn USD by 2021

Friday 29 July 2016, Amsterdam

The report, now available on ASDReports, "Blood Collection Market Product (Syringes, Needles, EDTA, Heparin, Serum, Tubes, Blood Lancets, Blood Bags, Vials), Application (Diagnostic, Treatment, Infectious Diseases, Non Infectious Diseases) & End User (Blood Banks, Hospitals) - Forecast to 2021", provides a detailed overview of the major drivers, restraints, challenges, opportunities, current market trends, and strategies impacting the blood collection market along with the estimates and forecasts of the revenue.

The blood collection market is expected to reach USD 9.90 Billion by 2021 from USD 7.65 Billion in 2016, at CAGR of 5.3% in the forecast period. Factors such as the rising incidences of infectious as well as non-infectious diseases, increasing number of surgical procedures, and growing number of trauma and accidental cases are propelling market growth. However, risks associated with blood transfusions in underdeveloped regions is expected to restrain the growth of the blood collection market in the forecast period.

In this report, the blood collection market is broadly segmented by product, end user, application, and region. On the basis products, the blood collection market is divided into blood collection needles and syringes, blood collection tubes, blood lancets, blood bags, vials, and others (microscopic slides, slide stainers, and test tube racks). The blood collection needles and syringes segment is expected to account for the largest share of the blood collection market in 2016. Blood collection needles and syringes are easily available, inexpensive, and do not require special training for use. These advantages are responsible for the large share of the blood collection needles and syringes segment.

On the basis of applications, the blood collection market is bifurcated into diagnostics and treatment. The diagnostics segment is further categorized into infectious diseases and non-infectious diseases. The diagnostics segment is expected to account for the largest share of the blood collection market in 2016. Significant growth in geriatric population is one of the major factors driving the growth of the diagnostic applications segment.

On the basis of end users, the blood collection market is segmented into hospitals and diagnostic centers, blood banks, and other end users (long-term acute care centers, trauma centers, and nursing homes). The hospitals and diagnostic centers segment is expected to account for the largest share of the blood collection market in 2016. The large share of this segment is primarily attributed to the increasing demand of donated blood, growing number of organ transplantation which needs blood collection products.

North America is expected to account for largest share of the blood collection market in 2016. Factors such as rising prevalence of diseases, increasing number of surgeries, and growing number of accident and trauma cases are contributing to the large share of this region. Asia-Pacific is expected to grow at the highest CAGR for the blood collection market in the forecast period. The presence of a huge population base, coupled with the improving healthcare infrastructure and increasing number of hospitals, is expected to offer significant growth opportunities for players operating in the Asia-Pacific blood collection market.

Major players in this market include Becton, Dickinson and Company (U.S.), Abbott Laboratories (U.S.), Nipro Medical Corporation (Japan), and Terumo Corporation (Japan).