The global blood collection market is expected to reach a value of USD 13.3 billion by 2025, according to a new report by Grand View Research, Inc. The increasing incidence of infectious and non-communicable diseases is a major factor anticipated to propel the market growth during the forecast period. According to the Centers for Disease Control and Prevention (CDC), in 2013, around 19.3 million people visited the physician’s clinic for infectious and parasitic diseases testing in the U.S. Moreover, according to International Diabetes Federation, 415 million people suffered from diabetes in 2014 and this number is expected to rise up to 642 million by 2040. Thus, the increasing incidence of accidents and trauma cases is another factor that drives the demand for blood collection products for therapeutic application.
The increasing number of surgical procedures is an additional key factor contributing to the growth. The escalating number of accidental injury cases is expected to propel the demand for target market products for therapeutics application. According to the CDC, in the U.S, around 31.0 million patients visited emergency centers for unintentional injuries in 2014. Thus, the demand for blood collection products such as bags, needles, and syringes is growing at a high rate, which is expected to boost the growth during the forecast period.
The U.S. blood collection market, by end-use, 2014-2025 (USD Million)
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Further key findings from the report suggest:
- The needles and syringes segment was the largest grossing segment of the blood collection market in 2015 owing to the growing application of these devices in diagnosis and treatment of various disorders like diabetes and blood-related diseases
- The diagnostics application segment held the largest revenue share in 2015, owing to rising geriatric population and escalating prevalence of infectious & non-communicable diseases
- In 2015, the hospitals segment accounted for the largest share in the market due to an upsurge in the incidence of trauma & accidental cases along with growing number of surgical procedures
- North America held the largest share of the blood collection market in the year 2015. This region is estimated to uphold its dominance during the study period
- The presence of a highly developed healthcare infrastructure and advanced blood collection products is anticipated to boost the growth in North America during the forecast period
- Some of the key companies include Abbott Laboratories, NIPRO Medical Corp., Becton, Dickinson and Company, Terumo Corp., Medtronic, Qiagen, and FL MEDICAL s.r.l.
For more information: http://www.grandviewresearch.com