Global Blood Collection Market: North America is Expected to Account for the Largest Share
Blood collection is the process of acquiring blood samples from the donor for performing laboratory diagnostic tests and treating patients. This is an integral part of the blood management procedure in hospitals and blood banks centers.
The global blood collection market is expected to reach USD 10.59 Billion by 2022 from USD 8.10 Billion in 2017, at a CAGR of 5.5% during 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.
Increasing disease incidence and growing number of accidents & trauma cases
The prevalence of infectious diseases such as Human Papillomavirus (HPV), hepatitis, Human Immunodeficiency Virus (HIV), and tuberculosis are high despite significant improvements in sanitation and medicine. Traditionally, antimicrobial therapy was used as a powerful tool to combat infectious diseases; however, over the years, antimicrobial agents have failed to deliver the desired results due to the emergence of drug-resistant microbes. Owing to this, the prevalence of these infectious diseases is increasing globally. The prevalence of lifestyle diseases is also growing across the globe. This will be favorable for the market growth, as blood tests are a primary mode of diagnosing these diseases. An increase in the number of road accidents, fires, and sports injuries has led to the increased occurrence of trauma and injury cases.
According to a WHO Global Status Report on Road Safety, in 2013, road accidents were the eighth-leading cause of death worldwide. Current trends show that by 2030, road accidents will become the fifth-leading cause of death, globally. The National Trauma Institute has stated that trauma injuries accounted for 30% of life years lost (a measure to account for the age at which deaths occur) in the US in 2014.
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Geographical Region Covered
North America is expected to account for the largest share of this market. Government initiatives for blood safety, increasing prevalence of lifestyle diseases, the presence of key players in the region, and increasing adoption of automated blood collection devices are the key growth drivers of the North American market.
Key Market Players
Becton, Dickinson and Company, Medtronic, Terumo Corporation, Haemonetics, Fresenius, Nipro Medical Corporation, F.L. Medical, Greiner Holding, Smiths Group, Grifols, Kawasumi Laboratories, Quest Diagnostics, Sarstedt, Retractable Technologies, Ab Medical.