Blood Collection Market: Prevalence of Infectious Diseases to Drive the Market Demand
Added: (Thu Jan 10 2019)
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The global blood collection market is foretold to grow on the back of leading growth factors such as the elevating prevalence of infectious diseases in developed regions such as North America that spur the adoption of blood collection products. More opportunities could take shape in the market owing to the faster growth of developing regions such as Asia Pacific. This growth could be supported by the rise of emerging markets, increasing disposable income, rising count of hospitals, growing medical tourism, and advancing development of healthcare infrastructure. The application of blood collection in diagnostics could gain strength with the increasing cases of blood-related disorders which require blood for their treatment.
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The global blood collection market is forecast to achieve a revenue earning of US$9.8 bn by the completion of 2022 after progressing from a US$7.7 bn earned in 2017. During the forecast period 2017–2022, the market could rise at a 4.7% CAGR.
The world blood collection market is prognosticated to be classified into vials, blood bags, blood lancets, blood collection tubes, blood collection needles and syringes, and others. Amongst these products, blood collection needles and syringes could grab a king’s share of 29.4% by the end of the forecast period. The annual absolute growth attained by blood collection needles and syringes is predicted to be greater than that of any other product. This segment could grow at a US$0.08 bn annually between 2017 and 2022.
In terms of end user, the world blood collection market is envisaged to be segmented into blood banks, hospitals and diagnostic centers, and other end users. On the basis of application, the market could see a classification into diagnostics and treatment.
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The report offers a deep insight into all of these crucial segments of the world blood collection market so as to help readers explore promising prospects about to take birth or already prevailing in the industry.
Geographically, the international blood collection market is envisioned to include lucrative regions such as North America, Asia Pacific except Japan (APEJ), and Europe. The authors of the report foresee the market to be dominated by North America expected to garner a revenue earning of US$3.2 bn by the end of 2022. Europe could expand at a slightly lower CAGR than that of North America to reach a valuation of US$2.4 bn by the same year. APEJ, on the other hand, could exhibit a faster growth while rising at a CAGR of 5.1%.
However, Japan is projected to attain a valuation of only US$0.6 bn by 2022 end and the Middle East and Africa (MEA) to expand at a 3.8% CAGR. The figures could be an indication of their slower growth in the international blood collection market.
Some of the prominent companies of the worldwide blood collection market could be 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.
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