The global blood collection market is anticipated to expect promising growth opportunities arising from the surge in the number of surgical procedures performed globally, including cancer and organ transplant surgeries. Most of these surgeries require blood transfusion, which could up the demand for target products of the market such as blood bags, tubes, syringes, and needles. End users such as hospitals and diagnostic centers could significantly add to the growth of the market with rising healthcare awareness to prevent and control infectious diseases. More number of government and non-government organizations are participating in such causes with their initiatives.
The global blood collection market, as per Transparency Market Research (TMR), is foretold to rise at a 4.7% CAGR to reach a valuation of US$9.8 bn by the end of 2022. In 2017, the market attained a valuation of US$7.7 bn.
The international blood collection market is projected to gain a strong impetus on the back of the elevating number of trauma incidences and accidents and rising prevalence of non-communicable and infectious diseases. In the U.S., there are millions of adults still diagnosed with cancer and heart disease. Consequently, the diagnostics application could gain pace in its growth with the increasing demand for blood collection products. Product advancement is foreseen to bring in ample of opportunities for players dealing with blood collection tubes. In 2016, Vacutainer Barricor by BD received clearance from the U.S. Food and Drug Administration (FDA).
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The report offers an analysis of the worldwide blood collection market’s competitive landscape while profiling several key players including Abbott Laboratories, Inc., Medtronic Plc., Becton, Dickinson and Company, Terumo Corporation, Nipro Corporation, QIAGEN N.V., F.L. Medical SRL, Greiner Holding AG, Haemonetics Corporation, and Sarstedt AG & Co.