Blood Collection Market Embraces Spurred Growth Supported by Growing Number of Surgeries Requiring Blood Transfusion
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).
Regionally, the international blood collection market is envisaged to testify the lead secured by North America in the coming years. This region could rise at a 4.9% CAGR. However, the Middle East and Africa (MEA) and Japan are prophesied to showcase a sluggish growth in the market. The MEA could be valued at a US$0.4 bn by the end of 2022 while Japan is envisioned to expand at a CAGR of 4.3%. Nevertheless, there could be business opportunities available in Europe expected to expand at a 4.5% CAGR. Asia Pacific except Japan (APEJ) could be a faster growing region of the market.
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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.
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