Blood Collection Devices Market
The global blood collection devices market is projected to expand at a rate of 6.3% over the forecast period. The growing incidences of infectious diseases, the growing number of trauma cases, and demand for donations and blood components will bolster the market growth.
Blood Collection Devices Market Dynamics
The blood collection devices market is anticipated to witness a substantial boom over the coming years. The growth is attributed to the accelerating incidences of accidents and trauma across the nation. Due to the surging number of trauma and accident cases, blood collection devices have gained immense prominence for the treatment of patients. According to the report published by World Health Organization in 2021, each year an approximate of 1.3 million people lose their lives due to road traffic crash. Thus, this factor is likely to raise the blood collection device market size.
Apart from this, the rapid increase in prevalence of chronic diseases has become a matter of concern. Nearly half of the deaths caused by chronic diseases are due to cardiovascular problems. For example, the WHO revealed that 17.9 million died from cardiovascular disorders in 2019, gauging for nearly 32% of international deaths. This has raised the concern of users to identify the disease through blood collection. Thus, the growing prominence of health check-up at personal and professional level for employee wellbeing. This is one of the prime force contributing to the global blood collection device market growth as blood tests account to be the first step of identifying the problem.
However, the huge cost of mechanized blood collection devices is expected to restrain the growth of this market. Insufficient skilled professionals and complications of shipping and storage with an adequate blood test in an emerging nation is likely to restrain the market growth.
Product Segment Drivers
By product, the blood collection needles and syringes are likely to witness a significant growth during the forecast period. This is because of its cost-efficiency, increasing product adoption, and ongoing technological innovations in various medical treatment and diagnostic procedures and repeat purchases. For instance, the BD Vacutainer Eclipse, a blood collection needle provides a safety-engineered, multisample blood collection needle to cumulate blood while decreasing the chances of needlestick injuries.
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