blood collection market
Pharmaceutical

Global Blood Collection Market: North America expected to dominate global blood collection market in next 10 years

Blood collection is a process of obtaining blood through venous access devices or sometimes by finger stick. Blood is usually collected to perform a variety of laboratory tests. Blood samples are sent for diagnosis to detect risk factor and to monitor the effect of treatment and medication.

North America expected to dominate global blood collection market in next 10 years

Increasing incidences of chronic diseases, and increasing awareness among individuals towards personal health are key factors driving growth of the global blood collection market. In addition, increasing surgical procedures for various diseases, increasing awareness among geriatric population regarding infections and diseases are another major factors expected to drive growth of the global blood collection market.

High cost related to automated blood collection devices is a major factor expected to restrain growth of the global blood collection market. However, technological advancements in devices used for blood collection are expected to create new opportunities for major market players in the global blood collection market over the forecast period.

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North America market is a dominant player in the global blood collection market and accounts for largest market share in terms of revenue as compared to that of markets in other regions. This is attributed to the well-developed healthcare industry, presence of leading medical diagnostics manufacturers, and rise in number of patients suffering from blood cancer and other disorders. Europe market accounts for the second largest revenue share contribution to the global blood collection market followed by markets in Latin America, Asia Pacific and Middle East & Africa respectively. The market in Asia Pacific is projected to have the fastest growth in terms of revenue, owing to increase in number of patients suffering from chronic diseases, and initiatives by governments for the improvement of healthcare facilities in countries in this region.

Prominent market players in the global blood collection market include Becton, Dickinson and Company, Medtronic, Inc., Fresenius SE & Co. KGaA, Nipro Medical Corporation, FL MEDICAL s.r.l., Smiths Medical, Inc., Grifols, S.A., Kawasumi Laboratories Inc, and Quest Diagnostics Incorporated