Global Venous Blood Collection Devices Market Size, Share, and Trends Analysis Report – Industry Overview and Forecast to 2031

Venous Blood Collection Devices Market Analysis

Blood cancer is among the top types of cancers that are prevalent globally. According to the Leukemia and Lymphoma Society (LLS), approximately, for every three minutes, one person in the United States is diagnosed with blood cancer. Therefore, this calls for medical devices that can collect the blood samples and keep them intact. This where the role of venous blood collection devices comes into play.     

Venous Blood Collection Devices Market Size

Global venous blood collection devices market size was valued at USD 6.44 billion in 2023 and is projected to reach USD 10.47 billion by 2031, with a CAGR of 6.27% during the forecast period of 2024 to 2031.

Report Scope and Market Segmentation       

Venous Blood Collection Devices Market Definition

From the name itself, it is clear that venous blood collection devices are the medical blood collection devices that are used to collect samples of blood for testing diagnosing and research purposes. The venous blood collection devices are in the shape of tubes or vessels provide the sample or the specimen against contamination due to various factors.               

Venous Blood Collection Devices Market Dynamics

Drivers

• Rising prevalence of diseases

Growing rate of acute and chronic diseases all around the globe owing to various factors is one of the major factors fostering the growth of the market. For example- growing incidence rate of blood cancer, infectious diseases such as hepatitis B (HBV), hepatitis C (HCV), human immunodeficiency virus (HIV), malaria, syphilis, and brucellosis is directly and positively influencing the growth of the market.

• Research and development proficiencies

Rising expenditure for research and development proficiencies especially in the developed and developing economies pertaining to the medical instruments and devices will further create lucrative market growth opportunities. Research and development proficiencies being conducted pertaining to the advancements in medical devices is also bolstering the market growth rate.

• Growing investment for healthcare facilities

Surging focus towards improving the condition of healthcare facilities and improving the overall healthcare infrastructure another important factor fostering the growth of the market. Rising number of partnerships and strategic collaborations between the public and private players pertaining to funding and application of new and improved technology is further creating lucrative market opportunities. Also, rising government initiatives to increase awareness about importance of early diagnosis is yet again bolstering the market growth rate.

Opportunities

Furthermore, upsurge in the public-private funding for target research activities, increase in the incidence of lifestyle-related diseases, surging number of road accidents, rising geriatric population base and rising product innovations and development owing to technological advancements all around the world will extend profitable opportunities for the market players in the forecast period. Additionally, growing number of blood donation and collection camps, rising internet penetration rate, growing emergence of liquid biopsy tests, growing advancements in blood collection procedures and products and increasing per capita expenditure on health care will further expand the market's growth rate in the future. 

Restraints/Challenges Global Venous Blood Collection Devices Market

On the other hand, high cost associated with the research and development proficiencies, limited infrastructural facilities, uneven distribution of medical services and dearth of awareness in the backward economies are expected to obstruct market growth. Also, lack of favorable reimbursement scenario and technology penetration in the developing economies, decline in the healthcare expenses in the advancing countries, complexities associated with the storage and shipping, requirement of huge capital investment for automated blood collection using apheresis devices and lack of suitable infrastructure in low- and middle-income countries are projected to challenge the market in the forecast period.

This venous blood collection devices market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the venous blood collection devices market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

COVID-19 Impact on Venous Blood Collection Devices Market

COVID-19 has had a significant impact on the market. Drop in the rate of manufacturing of medical devices has adversely affected the revenues. Restriction on the movement, shut down of various facilities and supply chain disruption created a challenge for the market. Further, shift in focus from the non-essential medical processes also created hindrances for the market. Also, manufacturers of these devices have slowed down their production due to the pandemic.  However, the post pandemic period is expected to bring back the market on its track.

Global Venous Blood Collection Devices Market Scope

The venous blood collection devices market is segmented on the basis of type, material, application and end users. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Type

• Blood Collection Tubes
• Needles
• Vacuum Blood Collection System
• Microfluidic System
• Others

Material  

• Plastic
• Glass
• Stainless Steel
• Others

Application  

• Vein Blood Gas Sampling
• Intraoperative Blood Salvage

End users

• Hospitals and Clinics, Point of Care, Blood Donation Centres
• Diagnostic Centres
• Others

Venous Blood Collection Devices Market Regional Analysis

The venous blood collection devices market is analysed and market size insights and trends are provided by country, type, material, application and end users as referenced above.

The countries covered in the venous blood collection devices market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America dominates the venous blood collection devices market because of the strong base of healthcare facilities, widespread utilization of medications, increase in the expenses in the health care, rapid increase in the prevalence of blood cancer, and rising number of research activities in this region.   

Asia-Pacific is expected to witness significant growth during the forecast period of 2022 to 2029 due to the increase in government initiatives to promote awareness, rise in medical tourism, growing research activities in the region, availability of massive untapped markets, large population pool, and the growing demand for quality healthcare in the region.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Venous Blood Collection Devices Market Share

The venous blood collection devices market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to venous blood collection devices market.

Venous Blood Collection Devices Market Leaders Operating in the Market Are:

• BD (US)
• Haematonics (US)
• Terumo BCT (US)
• Fresenius Kabi AG (Germany)
• Grifols, S.A. (Spain)
• Nipro Medical Corporation (Japan)
• Greiner Holding (Austria)
• Quest Diagnostics (US)
• SARSTEDT AG & Co. (Germany)
• Macopharma (France)
• Smiths Medical (US)
• Cardinal Health (US)
• Retractable Technologies (US)
• Liuyang Sanli Medical Technology Development (China)
• F.L. Medical S.R.L (Italy)
• AB Medical (South Korea)
• APTCA SPA (Italy)
• Jiangsu Micsafe Medical Technology CO., LTD. (China)
• Disera Tibbi Malzeme Lojistik Sanayi Ve Ticaret A.Þ (Turkey)
• Ajosha Bio Teknik Pvt. Ltd. (India)
• Preq Systems (India)
• CML Biotech (India)
• Lmb Technologie GmbH (Germany)
• Mitra Industries Private Limited (India)
• Neomedic Limited (UK)

Latest Developments in Venous Blood Collection Devices Market

• In August 2020, Greiner Bio-One and Haematologic Technologies announced a collaboration to provide end-to-end development and custom manufacturing of blood collection tubes for IVD and clinical diagnostic device developers
• In July 2020, Magnolia Medical launched a new Steripath Gen2 Initial Specimen Diversion Device with the integrated syringe. This device provides healthcare workers the precise control to carefully collect blood samples from patients with compromised vasculature

SKU-21066