Blood Collection Market Introduction & Overview

Blood sampling or blood collection method is an essential procedure in modern medicine. Blood can be taken from arteries, where it is called arterial blood collection or a vein where it is called venous blood collection. Blood collection is conducted for three major reasons, firstly, to obtain blood for analysis & diagnosis of various disorders. Secondly, for therapeutic purposes and finally, to collect blood for later uses, like blood donation.

Blood collection is an essential constituent in the global healthcare services market. The market of blood collection has witnessed stable growth in the past years,and it is also expected to grow evenly in the coming years. Several factors can be attributed to the vast commercial evaluation of the global blood collection market. A few of these factors are increasing number of surgical procedures and a high prevalence of diseases that require removal of blood for therapeutic purposes, such as hemochromatosis, thalassemia, &polycythemia. Similarly, increasing blood donation drives conducted by various Non-profit Organizations (NGOs), government establishments, as well as private bodies around the world have played an equally vital role in promoting the growth of this market. Another major factor that has been playing an essential role in driving the growth of the global blood collection market is the increasing number of accidents & trauma cases around the world. However, dearth of skilled professionals and high costs associated with automated blood collection devices may hamper the growth of this market to a certain extent. Moreover, the current COVID-19 pandemic is hugely impacting the overall blood collection market, as the entire healthcare sector is facing immense pressure to cope with this crisis, which has hampered several healthcare services.

The global blood collection market has been classified into three major segments, viz. product, method, end user and region

Blood Collection Market By Product

Based onproduct, the market has beensegmented into Blood Collection Tubes, Needles & Syringes, Blood Bags, Blood Collection Devices, Lancets, and Other Products. Products offered under the blood collection devices segment is expected to register the fastest growth rate during the forecast period, owing to increasing demand for plasma from biopharmaceutical companies for plasma fractionation, rising prevalence of blood disorders and growing demand for apheresis & whole blood collection devices from blood banks, among others

Blood Collection Market By Method

Based on the method, the blood collection market has beenclassified into Manual Blood Collection and Automated Blood Collection.Automated blood collectionsegment is expected to witness highest CAGR in the coming years, owing to the availability of advanced blood collecting products, rising demand for plasma by biopharmaceutical companies, and increasing demand for safer procedures to withdraw & separate blood components for transfusion, among others.

Blood Collection Market By End User

Based on end user, the blood collection market has beencategorized into Hospital & Pathology Laboratories, Blood Banks,and Other End Users.The Hospital & Pathology Laboratories is projected to witness fastest growth rate in the global blood collection market. The growth of this segment can be attributed to increasing number of organ transplant surgeries, rising incidence& prevalence of diseases which require blood diagnosis and continuous adoption of advanced technologies by hospital & pathology laboratories, among others.

Blood Collection Market By Region

The globalblood collectionmarkethas been segmented into North America, Europe, Asia Pacific, and the Rest of the World (ROW).North America commanded the largest market share in the global blood collection market in 2019 owing to factors such as rising adoption of automated blood collection devices, government initiatives for blood safety, increasing number of daily accidents & trauma cases, and high prevalence of diseases that require removal of blood for therapeutic purposes.

Blood Collection Market Prominent Players

The prominent players operating in the globalblood collectionmarket areTerumo Medical Corporation, Medtronic, BD, Fresenius Kabi AG (Fresenius Health Care Group), Grifols, S.A., FL MEDICAL s.r.l., Haemonetics Corporation, Greiner Bio One International GmbH, Smiths Medical (Smiths Group plc.), KAWASUMI LABORATORIES. INC.,among others.