The global blood collection devices market size is projected to experience dynamic growth in the forthcoming years owing to the rising awareness regarding blood tests across the world, finds Fortune Business Insights™ in its report, titled “Blood Collection Devices Market, 2021-2028”.
In recent years, the blood collection has gained prominence in order to effectively manage and diagnose a variety of diseases. There has been an increasing awareness about blood tests among the world population due to the rising number of fatal diseases such as cancer, heart attack, and others across the world. Thus, this is a crucial factor responsible for the growth of this market. For instance, as per the report released by the National Cancer Institute, in 2018, there were approximately 1,735,350 new cases of cancer that were diagnosed in the US.
However, the lack of adequate blood tests in the developing countries isprojected to hamper the growth of this market.
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An Overview of the Impact of COVID-19 on this Market:
The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
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In spite of the outbreak of the COVID-19 pandemic worldwide, there is a growing need for blood collection and blood tests across several regions in the market. Thus, this pandemic has not affected the growth of the blood collection devices market, which acts as a driving factor for this market’s growth.
On the basis of product, this market is classified into blood collection tubes – plasma separation tube, heparin tubes, serum separation tubes, EDTA tube, rapid serum tubes, coagulation tubes, needles and syringes, and others. By method, the market is divided into manual blood collection and automated blood collection. Based on end-user, the market is categorized into hospitals and clinics, diagnostic and pathology centers, blood banks, and others. In terms of geography, the market is clubbed into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
The report provides an exhaustive assessment of each market segment and also offers an in-depth analysis of the market drivers, trends, opportunities, and hindrances. Furthermore, the report contains a granular examination of the regional developments impacting the market, along with a thorough evaluation of the top market players and their key strategies.
Increasing Investments in the Healthcare Sector to Fuel the Market
Nowadays, the governments of several countries are making efforts to increase the investments in the healthcare industry due to the rapid development of healthcare facilities across the world. Thus, this is an important factor responsible for the growth of this market across several regions.
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Rising Prevalence of Chronic Diseases to Boost the North America Market Growth
North America region is projected to dominate the blood collection devices market share on account of the rising prevalence of chronic diseases in the countries such as the US and Canada.
Europe is anticipated to grow at a decent pace in this market due to the advanced healthcare infrastructure in the countries such as the UK, France, Germany, and others.
Strategic Alliances between Key Players to Feed Competition
The prominent companies in the blood collection devices market are focusing on the strategic collaborations with the small-scale and large-scale companies in order to increase the blood collection and testing across numerous regions in the market. This has resulted in the increasing competition among key companies which will help them to widen their business horizons and expand their market position.
July 2020: Magnolia Medical launches Steripath Gen2 with integrated syringe, addressed to the patients with difficult intravenous access (DIVA) or the ‘hard stick’ patient population.
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List of Key Players Covered in the Blood Collection Devices Market Report:
- Dickinson, and Company (BD)
- Terumo Medical Corporation
- Haemonetics Corporation
- Fresenius SE & Co. KGaA
- Nipro Medical Corporation
- FL MEDICAL s.r.l.
- GmbHer Bio-One International GmbH
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