IndustryARC updated the market research study on “Blood Collection Market ”- Forecast (2024 - 2030)

Blood Collection Market size is estimated to reach US$3.2 billion by 2030, growing at a CAGR of 5.7% during the forecast period 2024-2030. Rising prevalence of chronic diseases and advancements in healthcare diagnostics are expected to propel the growth of Blood Collection market.

Additionally, focus on sustainability and eco-friendly materials, manufacturers are increasingly exploring and adopting materials that are environmentally responsible and reduce the overall ecological footprint of their products. This includes innovations in packaging materials and the development of Blood Collection that minimize waste and are easily recyclable. customization and specialized tubes for precision medicine, customization of Blood Collection involves the incorporation of specific additives or coatings that preserve the integrity of particular analytes or biomarkers relevant to individualized treatment plans. It reflects the growing emphasis on obtaining accurate and personalized diagnostic information, particularly in areas such as genomics and molecular diagnostics.

For More Details on This Report - Request for Sample

COVID-19 / Ukraine Crisis - Impact Analysis:

●?? ?The COVID-19 pandemic significantly influenced the Blood Collection market worldwide. The surge in diagnostic testing, particularly for SARS-CoV-2, led to an unprecedented demand for Blood Collection. Laboratories and healthcare facilities faced challenges in maintaining adequate supplies, as the pandemic disrupted global supply chains. The industry responded with increased production efforts and strategic collaborations to meet the heightened demand during this critical period.

●?? ?The ongoing crisis in Ukraine has introduced additional complexities to the global Blood Collection market. As Ukraine is a key player in the production of medical supplies, including laboratory equipment and consumables, the conflict disrupted the supply chain, impacting the availability of Blood Collection. The geopolitical tensions led to logistical challenges, affecting transportation and distribution networks. This, in turn, contributed to shortages and increased prices for Blood Collection, further straining the healthcare industry.

Key Takeaways:

● North America Dominated the Market

Geographically, in the Blood Collection market share, the North America region is analyzed to hold a dominant market share of 36% in 2023, owing to the soaring presence of key players like Becton Dickinson & Company in Franklin Lakes, New Jersey, the U.S. in the region. The favorable healthcare policies and the surging count of patients in the U.S. requiring the application of EDTA tubes for blood collection are further driving the growth of the Blood Collection Market in this region. The U.S. in particular has witnessed a large demand for Blood Collection in health care systems, mainly due to the advancements made in diagnostic technologies for a wide range of patient populations. Growing numbers of surgeries in recent years in various medical specialties has also spurred the application of Blood Collection.

● Diagnostic Centers is the fastest growing segment

In the Blood Collection Market forecast, Diagnostic Centers segment is estimated to grow with a CAGR of 6.3% during the forecast period, owing to the surging population of the elderly who are susceptible to different ailments and the increasing predominance of ailments like red blood cell disorders needing periodic blood transfusion resulting in the application of EDTA tubes. The increasing prevalence of chronic diseases, coupled with a growing awareness of the importance of regular health check-ups, has led to a substantial uptick in the number of diagnostic procedures performed at these centers. Additionally, advancements in medical technology and the introduction of new diagnostic assays have further fueled the demand for specialized Blood Collection tailored to the specific requirements of diagnostic center operations.

● EDTA Tubes to Hold Largest Market Share

According to the Blood Collection Market analysis, the EDTA Tubes is estimated to hold the largest market share of 42% in 2023, owing to the soaring application of EDTA Tubes for nearly all hematology processes like ablation therapy and blood transfusions. The lavender tube is also referred to as EDTA tubes because it uses ethylene-diamine-tetra-acetic acid. The primary role of EDTA in anticoagulation is by chelating calcium ions in the blood to prevent it from coagulation. EDTA Tubes may include K2 EDTA or K3 EDTA. The raised count of accidents and blood transfusions at the time of surgeries and cancer therapy are further propelling the growth of the EDTA Tubes segment.

● Rising Prevalence of Chronic Diseases

The increasing prevalence of chronic diseases, such as cardiovascular diseases, diabetes, and various types of cancers, has been a major driver for the Blood Collection market. These conditions often require regular diagnostic testing for monitoring and management. Blood Collection are essential tools for obtaining blood samples for a wide range of laboratory tests, including complete blood counts, blood chemistry, and disease-specific markers. As the global burden of chronic diseases continues to grow, the demand for Blood Collection for diagnostic purposes is likely to increase, driving market growth. Despite overall health progress, In 2023, WHO said that the increasing toll of NCDs meant that if the trend were to continue, by around 2050, chronic diseases such as cardiovascular diseases, cancer, diabetes and respiratory illnesses – will account for 86 per cent of the 90 million deaths each year.

● Advancements in Healthcare Diagnostics

Technological advancements in healthcare diagnostics, including improvements in laboratory testing techniques and the development of new diagnostic assays, have contributed to the growth of the Blood Collection market. The demand for more accurate and diverse diagnostic information has led to the introduction of specialized Blood Collection with different additives, coatings, and properties to cater to specific testing requirements. Innovations such as molecular diagnostics and personalized medicine have further expanded the applications of Blood Collection. As diagnostic capabilities continue to evolve, the demand for advanced Blood Collection that preserve sample integrity and enable a wide range of diagnostic tests is expected to drive market growth.

● Ongoing Pressure to Reduce Healthcare Costs

Healthcare providers, including hospitals, clinics, and diagnostic centers, are increasingly focused on cost containment strategies. This has led to a heightened emphasis on cost-effective medical consumables, including Blood Collection. Blood drawings is a common hospital procedure involving laboratory and clinical disciplines that is important for the diagnosis. Blood drawings with pre-analytical error (PAE) can lead to increased costs for hospitals and healthcare organisations. In 2023, from an article, several studies have shown increased healthcare costs related to PAEs using different data sources that reflect personnel, material, and analytical outcomes. This cost analysis study estimated blood drawing re-collection costs due to PAEs and indicated that the annual cost of PAEs was 74,267 euros or 13,756€ per 10,000 blood drawings in tertiary pediatric hospitals. Among the cost categories included in the costs of PAEs, personnel costs represented the highest cost. Reducing the incidence of PAEs could yield significant cost reductions.

Purchase this Premium Report: Buy Now

Key Market Players:

Product/Service launches, approvals, patents and events, acquisitions, partnerships and collaborations are key strategies adopted by players in the Blood Collection Market. The top 10 companies in this industry are listed below:

1. Sekisui Chemical Co., Ltd.
2. QIAGEN N.V.
3. Bio – X
4. CML Biotech
5. Hebei Xinle Sci &Tech Co., Ltd.
6. Greiner Bio-One
7. Becton, Dickinson & Company (BD)
8. AdvaCare Pharma
9. FL Medical S.r.l.
10. Sarstedt AG & Co.