Size of the blood collection market worth $13.2 billion, globally, by 2030 at 5.1% CAGR: Verified Market Research®

Rising number of accidents and trauma cases globally is the major factor driving the market. Blood collection products are widely needed for the treatment of patients with injuries due to trauma or accidents.

CITY OF JERSEYNew Jersey , August 17, 2022 /PRNewswire/ — Verified Market Research recently released a report, “blood collection market” By product (blood collection tubes, blood bags), by method (manual blood automated blood sampling), by end user (hospitals and pathology laboratories, blood banks) and by geographical area. According to Verified Market Research, the blood collection market size was valued at $8.9 billion in 2021 and is expected to reach $13.2 billion by 2030, growing at a CAGR of 5.1% from 2022 to 2030.

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Overview of the global blood collection market

The growing number of chronic diseases in the world is driving the expansion of the global blood collection market. The number of deaths due to vas, fat and polygenic diseases is increasing significantly, which has ensured greater adherence to health checkups and gaining considerable quality both at the private and corporate level for worker wellness, this can propel the growth of the market, as blood tests are the primary mode of detecting these diseases. Moreover, an increasing range of accident and trauma cases around the world is driving the demand for a large number of blood assortments so fast that the global market. Moreover, an increase in the range of approvals for the technologically advanced products has absolutely planned to propel the expansion of the global blood collection market.

Certain challenges may hamper the growth of the market. Factors such as lack of accomplished physicians and medical experience are limiting the market growth. Additionally, the high value of machine-driven blood collection devices is calculable to a slow growth over the entire projected amount. Desired capital investments in machine driven blood collection operating apheresis devices are too expensive compared to its assortment of whole blood. Furthermore, the complexity of storage and shipping, as well as stringent government laws, are the potential restraints hampering the growth of the global blood collection market. Growing demand for apheresis, technological advancements in blood collection procedures, and products such as microsampling and dried blood sampling provide favorable growth opportunities.

Key developments

  • In February 2020, Babson Diagnostics, a leading diagnostic blood testing company, announced a long-term strategic partnership agreement with BD (Becton, Dickinson, and Company). The objective of this partnership is to introduce laboratory quality and small volume blood collection in pharmacies.

  • In May 2021, Drawbridge Health, which was founded by GE Ventures and GE Healthcare and is a company specializing in the convenient collection of blood samples anytime and anywhere using the OneDraw™ A1C Test System, has been acquired by Thorne Health Tech. The goal of this acquisition is to provide innovative health and wellness solutions to consumers and healthcare professionals.

  • In July 2020, Steripath Gen2, an initial new sample diversion device with integrated syringe, has been launched by Magnolia Medical Technologies. This device will help healthcare workers carefully collect blood samples from patients with compromised vasculature.

Key players

Major players in the market are Abbott Laboratories Inc., Medtronic, Becton Dickinson and Company, Terumo Corporation, Nipro Medical Corporation, Qiagen, FL Medical SRL, Greiner Holding AG, Haemonetics Corporation and Sarstedt AG & Co.

Verified Market Research has segmented the global blood collection market on the basis of product, method, end-user, and geography.

  • Blood Collection Market, By Product

  • Blood Collection Market, By Method

  • Blood Collection Market, By End User

  • Blood Collection Market, By Geography

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