Market Overview/Outlook (2022 to 2030)
The global Blood Collection market was valued at USD 6.72 Billion in 2022 and is projected to reach USD 11.72 Billion by 2030, registering a CAGR of 7.18% for the forecast period 2023-2030.Market Definition
The expanding surgical procedures in the medical industry plays a vital role in driving the blood collection market towards growth due to the increased frequencies of infectious diseases and the demand for diagnosis of chronic diseases is contributing positively markets growth, Also the rising incidence of trauma and accidents are accelerating the blood collection market. For instance, according to WHO 2022 stats due to non-communicable diseases around 61% global deaths occurred. And 41 million mortality cases occur due to non-communicable diseases accounting 74% deaths globally.Blood Collection is the vital process of withdrawing blood from the individual’s body for the purpose of some testing or treatment of any disease. It plays a crucial role in diagnosis, treatment, and transfusion medicine. This process is safe and consists of wide range of techniques, procedures, and devices. Blood can be drawn from either vein, artery, or capillary off which the venous type of method is quiet popular usually performed on the arm, The arterial type is the second method not as popular as venous and is performed on either wrist or ankle, and the third type capillary type performed on finger or heel. Therefore, increasing the infectious diseases that is fueling the demand for the market.
Market Size:
- 2022: USD 6.72 billion
- 2030: USD 11.72 billion
- CAGR (2023-2030): 7.18%
Drivers:
The rising frequency of the chronic diseases among people driving the market for blood collections:
Globally, the rising incidence of chronic illnesses is one of the main factors driving the blood collection market. Diagnosis, therapy monitoring, and disease management for conditions like diabetes, cardiovascular diseases, cancer, and autoimmune disorders require frequent blood tests. The incidence of these diseases is rising as the world's population ages and lifestyles change. There is a constant need for blood collection supplies and services due to the patient pool's ongoing expansion. Regular blood testing is required by laboratories and healthcare providers, which sustains a steady market for blood collection equipment and supplies. As a result, blood collection organizations have an opportunity to drive market expansion by meeting the constantly expanding demand for diagnostic tests related to chronic illnesses.
Restraint in the Blood Collection Market
Regulatory challenges and compliance cost can restraint the markets growth:
The major factor hindering the growth of the market is the stringent regulatory environment governing the manufacturing and use of the blood collection devices and the procedures. It is mandatory for the companies operating in this sector must adhere to complex regulatory frameworks imposed by various health authorities such as FDA for the U.S., EMA in Europe which ensures substantial investment in research and development and the testing to meet safety and quality standards. These regulatory changes can cause costly modification to the manufacturers in their processes and product labelling that increases their operational expenses which is restraining the growth.
Challenges in the Blood Collection Market
Covid 19’s impact poses a challenge to the Blood Collection market:
The blood collection market faced several challenges that impacted on its operation and growth. Primary challenge was related to the safety and controlling spread of the virus. With the advancements in the safety tech devices, healthcare workers continue to face the risk of needlestick injuries and potential exposure to bloodborne infections during the process for collection of blood. The second challenge faced was the disruption caused to supply chains that resulted in shortages for critical blood collection products, potentially jeopardizing patient care.
Opportunities in the Blood Collection Industry
Remote blood collection services is projected to augment market growth:
The rapid rise in the telemedicine and the remote healthcare services provides immense opportunities in the sector of the blood collection. With the impact of covid the trend of telehealth rose where patients were able to collect blood samples in the comfort of their homes, eliminating the requirement of in-person presence for the blood collection at the healthcare centers. Telemedicine providers with the companies that does blood collection integrate seamlessly with laboratories, ensuring efficient sample processing and reporting. This shift towards remote blood collection has improved patient’s accessibility for healthcare services.
Segment Analysis of the Blood Collection Market
The blood collection market is segmented by product type, application, End-User, and region.
By Product Type
The collection tube segment dominated the market in 2022:
Blood collection market by product type is further segmented into needles & syringes, blood bags, collection tubes, lancets, and others. Of which the collection tube segment dominated the blood collection market in 2022. The purpose of the collection tubes is to collect and store blood. These tubes are mainly made of either glass or plastic with variety of additives for prevention of blood integrity and clotting in sample. High demand of blood test, wide range of applications, and technological advancements are some of the factors for the collection tube segment’s domination. Due to increase in the demand of blood test and the development for technologies of blood collection will further fuel the markets growth.
By Application
The diagnostics segment was the dominating segment in 2022:
On the basis of application blood collection is sub-categorized into treatment and diagnostics. The diagnostics segment dominated the market and has maintained highest CAGR during the forecasted period. The rise in the patients for chronic diseases such as cardiovascular disorder, cancer and many others are diving the segments growth. The rise in usage of blood collection products for diagnosing various diseases is further fueling the markets growth.
For instance, in 2022, according to WHO around 41 million died due to non-communicable diseases of which the cardiovascular diseases accounted for 17.9 million, the chronic respiratory diseases 4.1 million and diabetes 2 million which results in demand for better healthcare facilities that drives the markets growth.
By End-User
In 2022, the hospital segment accounted for larger share market:
The blood collection market based on end-user type is segmented into hospitals, blood banks, nursing homes, diagnostic centers and others. Among these, hospital segment accounted for the largest share in the market. Rise in the blood testing and the chronic diseases are the factors boosting the markets growth. Technological advancements in the blood collection devices, techniques and the surge in demand for these products are influencing the market.
On the other hand, diagnostic centers often referred to diagnostic laboratories or clinical laboratories are specialized healthcare facilities that are widely used for wide range of medical tests and analyses that are essential for diagnosing diseases, monitoring the progression of conditions and assessing overall health. For instance, according to WHO, in between 2000 and 2021 around 74 million lives were saved through TB diagnosis. This gives rise to the need for better and advanced diagnosis facilities which is driving the markets growth.
Regional Analysis
North America dominates the market in 2022:
Region wise blood collection market is segmented into North America, Asia-Pacific, Europe, Middle East and Africa. Among these regions north America region dominated the blood collection market in the 2022 with larger market share. Rising number of patients for blood disorders, increase in frequency of lifestyle illness and the presence of major manufacturers is growing the market in the region.
Following North America, Europe is the second best and is also major contributor to the market’s growth. The rising frequency for blood donation initiatives from various organizations and the governments support for creating awareness is fueling the markets growth. For instance, according to European blood alliance NHSBT a special health authority collects and delivers around 1.4m units of red cells, 2,50,000 units of platelets and 2,00,000 plasma components for transfusion purpose to 260 hospitals. The Asia-Pacific region is expected to have gradual growth during the forecast period with the increasing incidences of sepsis and HAI.
Segmentation Analysis of the Blood Collection Market
By Product Type
- Needles & Syringes
- Blood Bags
- Collection Tubes
- Lancets
- Others
- Treatment
- Diagnostics
- Manual Blood Collection
- Automated Blood Collection
- Hospitals
- Blood Banks
- Nursing Homes
- Diagnostic Centers
- Others
- North America (U.S., Canada, Mexico)
- Europe (Germany, France, UK, Italy, Spain, Rest of Europe)
- Asia Pacific (China, Japan, India, Southeast Asia, Rest of APAC)
- Latin America (Brazil, Argentina, Rest of Latin America)
- Middle East & Africa (GCC Countries, UAE, Rest of MEA)
Key companies profiled in the Blood Collection market report include Nipro Medical Corp, Abbott Laboratories, Mckesson Corporation, Cardinal Health, Haemonetics Corporation, Terumo Corporation, Becton Dickinson & Company, Fresenius, Grifols, Braun Melsungen AG, Greiner Group AG, 3M, Baxter, Qiagen, Medtronic, and others. These companies are adopting strategies such as facility expansions, mergers, acquisitions, new product launches, and collaborations to gain a competitive edge in the market.
Snapshot
| Attributes | Details |
| Market Size in 2022 | USD 6.72 Billion |
| Market Forecast in 2030 | USD 11.72 Billion |
| Compound Annual Growth Rate (CAGR) | 7.18% |
| Segmentation | By Product Type, Application & Geography |
| By Region |
|
| Base Year | 2022 |
| Historical Year | 2016 to 2021 |
| Forecast Year | 2023 to 2030 |
Impact of the COVID-19 Pandemic on the Blood Collection Market:
The pandemic COVID-19 had a notable impact on the blood collection market. Pre-covid stage was the stage of growth with a number of factors contributing such as the increasing demand for the diagnosis for the various chronic diseases, the rising incidents of trauma and the accidents occurring which gave rise to the surgical procedures, and the increasing frequency of infectious diseases. Even with the new developments in the technologies for healthcare and procedures such as the new developed blood collection tubes helped to preserve the blood samples for longer duration.
The lockdowns imposed by the governments in order to restrict the spread by maintaining social distancing which resulted in decrease of participation for blood donation. With the increase in spread of the virus people were afraid of getting to the hospitals and donating blood. Many events and camps organized by mobile blood drivers and the community blood donation centers were canceled and a major drop was recorded due to this many regions has shortages of not only blood supply but also the components of the blood such as plasma and platelets that concerns healthcare providers the need for blood transfusions for the patients. With this condition many organizations and the government took various initiatives and measures for protecting and implementing safety for the blood donors as well as for the staff and encouraged public to come out and maximize the participation which slowly normalized and improved the situation.
