Home Healthcare Medical Devices Blood Collection Devices Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Product (Blood Collection Tubes, Blood Collection Needles/ Holders, Blood Collection Sets, Others); Method (Manual Blood Collection, Automated Blood Collection); End User (Hospitals and Pathology Laboratories, Blood Banks, Others); and Geography

Blood Collection Devices Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Product (Blood Collection Tubes, Blood Collection Needles/ Holders, Blood Collection Sets, Others); Method (Manual Blood Collection, Automated Blood Collection); End User (Hospitals and Pathology Laboratories, Blood Banks, Others); and Geography

Publisher: The Insight Partners
Publication Date: June, 2020
Healthcare / Medical Devices
Pages: 185
Delivery Format: PDF

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The blood collection devices market was valued at US$ 9,060.98 million in 2019 and is projected to reach US$ 14,228.70 million by 2027; it is expected to grow at a CAGR of 5.9% during 2020-2027. The growth of the blood collection devices market is mainly attributed to factors such as growing number of accidents & trauma cases, rising incidence of infectious disease, and developing liquid biopsy technology. However, the shortage of qualified personnel is hindering the growth of the market.

Cancer is the leading cause of mortality across the world. The incidence rate of cancer remains highest in developed regions. However, mortality is higher in low and middle income countries. The factors contributing to high mortality in these countries are low awareness and limited healthcare facilities.
Lung cancer, colorectal cancer, breast cancer, and prostate cancer account for the majority of cancer incidences. Lung cancer is the leading cause of mortality among the population. Over traditional cancer diagnostics techniques, liquid biopsy holds several benefits, such as reduced cost, early prognosis, therapy monitoring, tumor heterogeneity detection, and acquired drug resistance.
Liquid biopsy is done on a sample of blood to identify cancer cells from the tumor. This helps in detecting cancer at an early stage. To understand the molecular level changes, doctors usually take multiple samples over a while. The rising liquid biopsy test for screening, surveillance, disease monitoring is expected to drive the blood collection device market growth.

Based on product, the blood collection devices market is segmented into blood collection tubes, blood collection needles/holders, blood collection set, and others. The blood collection needles/holders segment held the largest share of the market in 2019 and it is expected to continue its dominance.

Based on method, the global blood collection devices market is segmented into manual blood collection and automated blood collection. The manual blood collection segment held the larger share of the market in 2019 and the same segment is expected to continue its dominance.

Based on end user, the global blood collection devices market is segmented into hospitals and pathology laboratories, blood banks, and others. The hospitals and pathology laboratories segment held the highest share of the market in 2019 and continues to dominate with the higher CAGR in the market during the forecast period.

The World Health Organization (WHO), Food and Drug Administration (FDA), China Food and Drug Administration (CFDA), and Centers for Disease Control and Prevention are some of the major primary and secondary sources referred for preparing this report.

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