NEW YORK, Nov. 30, 2017 /PRNewswire/ — Global blood collection market projected to grow at CAGR of 5.5%.
The global blood collection market is projected to reach USD 10.59 billion by 2022 from USD 8.10 billion in 2017, growing at a CAGR of 5.5% during the forecast period. The increasing prevalence of various diseases, rising number of surgeries, and growing number of accidental and trauma cases are fueling the demand for blood collection products. However, the high cost associated with automated blood collection devices is expected to restrain market growth to a certain extent.
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“The blood collection devices segment is expected to grow at the highest rate during the forecast period.”
On the basis of product, the market is broadly segmented into blood collection tube, needles and syringes, blood bags, blood collection device, and lancets. During the forecast period, blood collection devices segment is expected to grow at the highest CAGR. Growth in the blood collection devices segment is driven by the growing prevalence of blood disorders, increasing demand for plasma from biopharmaceutical companies for plasma fractionation, and rising demand for apheresis & whole blood collection devices in blood banks in emerging countries.
“The automated blood collection to grow at the highest CAGR during the forecast period.”
By method, the market is classified into manual blood collection and automated blood collection. The automated blood collection segment is expected to register the highest CAGR during the forecast period. Growth in this segment is attributed to the increasing demand for safer procedures to withdraw and separate blood components for transfusion; availability of advanced blood collecting products; and the rising demand for plasma by biopharmaceutical companies.
“The APAC region is expected to grow at the highest CAGR over the next five years.”
North America held the largest share of the global blood collection market in 2016, while Asia Pacific (APAC) is expected to witness the highest growth during the forecast period. A large population base, improving healthcare infrastructure, growing medical tourism, increasing number of hospitals, and rising disposable incomes in the region are expected to offer significant growth opportunities for key players operating in the market.
Break of primary participants was as mentioned below:
• By Company Type – Tier 1–40%, Tier 2–30%, and Tier 3–30%
• By Designation – C-level–27%, Director Level–18%, and Others–55%
• By Region – North America–50%, Europe–20%, Asia Pacific–20%, and RoW–10%
BD (US), Medtronic (US), and Terumo (Japan) dominated the